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The VNQI index, which tracks international real estate investment trusts (REITs), has reached a significant milestone, with its price-to-book (P/B) ratio now standing at 1x. This development indicates that international REITs are currently trading at a relatively low valuation, potentially presenting an attractive opportunity for investors. Historically, the VNQI index has traded at a higher P/B ratio, making the current level a notable departure from the norm. As of the current market assessment, the easy gains made by investors are largely attributed to the discounted prices of these international REITs. The VNQI index comprises a diversified portfolio of REITs from various countries, excluding the United States, providing exposure to a broad range of international real estate markets. With the global real estate sector expected to continue its growth trajectory, the current undervaluation of international REITs may present a strategic entry point for investors seeking to capitalize on potential future gains.