The prospect of interest rate cuts in 2024 has significantly buoyed the prospects of listed real estate companies, whose fortunes are closely tied to the cost of debt.

In the final months of 2023, the real estate investment trusts (REITs) took off as inflation eased globally. The sector delivered almost 12 per cent over the year, with the bulk of the gains achieved in the past three months, outperforming broader equities which closed a little above 8 per cent for the year.