Top 10 Singapore REITs to watch in 2026

What are REITs and how do they work?

Real estate investment trusts (REITs) are publicly traded companies that own, operate or finance income-generating real estate. They work like mutual funds, but instead of investing in stocks or bonds, REITs focus on property assets.

The beauty of REITs is that they give you access to real estate income and capital appreciation without requiring you to buy, manage or finance properties yourself. This opens up real estate to everyday traders, making previously inaccessible assets available to anyone.

What makes REITs unique

To qualify as a REIT, companies must meet several critical requirements:

1. Invest at least 75% of total assets in real estate
   
2. Derive at least 75% of gross income from real estate-related sources
   
3. Distribute a minimum of 90% of taxable income to shareholders as dividends¹

This rule about giving shareholders 90% of profits is why REITs often pay higher dividends than regular stocks. Since REITs must pay out most of their profits to investors by law, they typically provide regular cash payments that many traders like.

Types of REITs by property sector

REITs specialise in different property types, each with unique risk and return characteristics:

• Retail
• Office
• Industrial
• Hospitality
• Healthcare
• Residential
• Data centre

Key REIT numbers to watch

When looking at REITs, these are the important numbers that help you decide if they're worth trading:

• Dividend percentage (Distribution yield): How much cash you get back each year compared to the current share price. A 5% yield means you'd get $50 yearly on a $1,000 investment.
• Property value (Net asset value or NAV): What all the REIT's properties are worth after subtracting any debts. Think of this as the "real" value behind the shares.
• Price compared to property value (Price-to-NAV ratio): Whether the REIT is trading above or below what its properties are actually worth. A ratio of 1.2 means you're paying 20% more than the underlying property value.
• Debt level (Gearing ratio): How much the REIT has borrowed compared to what it owns. Higher debt means more risk but potentially higher returns. Singapore rules limit this to 50%.
• Ability to pay interest (Interest coverage ratio): How comfortably the REIT can pay the interest on its loans from its rental income. Higher is better and safer.
• Remaining lease length (WALE): How long the current tenant leases will last on average. Longer leases generally mean more stable income.

Why traders and investors choose Singapore REITs

Singapore REITs (S-REITs) are REITs listed on the Singapore Exchange (SGX). They give you access to high-quality property assets across Asia without the hassle of buying actual buildings. With over 40 REITs worth more than S$100 billion², Singapore has become Asia's REIT powerhouse.

What makes S-REITs attractive
 

• Strong rules: Singapore's strict regulations protect your interests
• Tax benefits: You only pay tax once, not at both company and investor levels
• Easy trading: Buy and sell on SGX during normal market hours
• Low entry cost: Get exposure to premium properties for a fraction of their price
• Expert management: Professional teams handle all property details
• Regional exposure: Access properties across Singapore, Asia, Australia and beyond

S-REIT outlook for 2026

Key investment insights (February 2026):
 

• Interest rate stability: The Fed’s pause at 3.5–3.75% removes uncertainty, supporting REIT refinancing and valuations.
• High-yield opportunities: Multiple SGX REITs now offer >6% yields, with OCBC recently highlighting sector leaders.
• Sector Tailwinds:

- Data Centres: AI and cloud demand driving Keppel DC REIT and Digital Core REIT.

- Logistics: E-commerce resilience supports MLT and DHLT.

- Hospitality: Tourism recovery boosts CLAS.

- Healthcare: Defensive positioning sustains Parkway Life REIT.

- Retail: Tourist mall footfall rising with 15-20 million visitors expected

Top trading triggers to watch:
 

• Further rate cut announcements: Morgan Stanley's research indicates that REITs have historically delivered strong returns one year after the first rate cut, outperforming the S&P 500 and most GICS sectors.
• Dividend announcements: May trigger short-term price movements.
• Acquisition news: Could drive medium-term growth, especially for REITs with low debt.
• Tourism data: Strong visitor numbers may boost retail mall REITs.
• Office occupancy reports: Watch for signs of returning corporate tenants.

Top 10 Singapore REITs to watch in 2026

Here are ten Singapore REITs with the strongest trading and investing potential for 2026. Each has been selected based on asset quality, management track record, growth potential and sector outlook.

_{*as of 15 June 2026}

1. CapitaLand Integrated Commercial Trust (CICT) – SGX: C38U

Key information (15 June 2026): 

• 52-week market cap change (June 2026): +10.4%
• Five-year average dividend yield: ~4.8%
• Price-to-earnings (P/E) ratio: 18.6 times
• Price-to-book (P/B) ratio: 1.13 times
• Price-to-net asset value (P/NAV): 1.09 times
• Gearing ratio: 38.5% 

About the company: CICT is Singapore’s largest REIT, anchored by prime retail and office assets such as ION Orchard, Raffles City, and Plaza Singapura. It also owns overseas properties in Germany and Japan, providing diversification. 

Latest distribution per unit (DPU): FY25 DPU rose 6.4% year-on-year (YoY) to 11.58 Singapore cents, supported by strong rental reversions of 6.6% and lower financing costs. 

Analyst ratings: DBS and UOB analysts maintained ‘buy’ calls, with stock price targets of S$2.80 and S$3.06 respectively, reflecting confidence in stable income growth. 

Key risks: Rising interest expenses caused by the ongoing middle-east crisis could pressure margins, while structural shifts in retail demand may affect footfall and tenant sales. Despite these risks, CICT’s ‘resilient Singapore portfolio and operations (more than 90% of AUM) should underpin its stable yield and 3% DPU CAGR growth’, DBS analysts said.

2. Mapletree Pan Asia Commercial Trust (MPACT) – SGX: N2IU

Key information (15 June 2026):

• 52‑week market cap change: +5.0%
• Five‑year average dividend yield: ~5.7%
• P/E ratio: 25.3 times
• P/B ratio: 0.72 times
• P/NAV: 0.73 times
• Gearing ratio: 36.5%

About the company: MPACT combines Singapore’s flagship assets VivoCity and Mapletree Business City with overseas properties in Hong Kong, Japan, and South Korea. 

Latest distribution per unit (DPU): Fourth-quarter (Q4) FY25/26 DPU stood at 1.90 Singapore cents, down by 2.6% YoY. Full-year DPU was 7.97 Singapore cents, down from 8.02 Singapore cents a year ago. 

Analyst ratings: FactSet data published on the IG Markets mobile app shows a 64% ‘buy’ and 36% ‘hold’ ratings split, with a 12‑month average target price of S$1.51 (equating to an upside potential of 19%).

Key risks: DBS analysts noted potential negative overseas reversions, with ‘macro headwinds adding another layer of overhand to already weak leasing sentiment and management’s strategy to prioritise occupancy above all’. 

3. Ascendas REIT – SGX: A17U

Key information (15 June 2026):

• 52‑week market cap change: -2.7%
• Five‑year average dividend yield: ~5.3%
• P/E ratio: 14.9 times
• P/B ratio: 1.16 times
• P/NAV: 1.26 times
• Gearing ratio: 42.0%

About the company: CapitaLand Ascendas REIT (CLAR) manages a diversified portfolio of 229 properties across Singapore, the US, UK/Europe, and Australia, spanning business parks, logistics hubs, industrial facilities, and data centres.

Latest DPU and portfolio metrics: FY2025 full-year DPU slipped 1.3% YoY to 15.01 Singapore cents. Portfolio rental reversion averaged +10.6% in Q1 2026, with Singapore reversions at +10.5% and US at +15.1%. 

Analyst ratings: FactSet consensus remains ‘buy’, with a 12‑month average share price target of S$3.09, equating to an upside potential of ~22.3%.

Key risks: Potentially longer lead time for the closure of lease negotiations amid macro uncertainties, while a prolonged Iran war might also ‘adversely impact demand’, Maybank analysts noted. 

4. Keppel DC REIT – SGX: AJBU

Key information (15 June 2026):

• 52‑week market cap change: Unchanged
• Five‑year average dividend yield: ~4.1%
• P/E ratio: 12.2 times
• P/B ratio: 1.34 times
• P/NAV: 1.34 times
• Gearing ratio: 35.1%

About the company: Keppel DC REIT is Asia’s first pure‑play data centre REIT, with 25 facilities across 10 countries including Singapore, Japan, Australia, and Europe. Assets under management total ~S$6.3 billion, with Singapore contributing ~63% of portfolio value. 

Latest DPU and portfolio metrics: Q1 2026 distributable income rose 20.7% YoY to S$74.6 million, while DPU increased 13.2% YoY to 2.833 Singapore cents. Portfolio occupancy stood at 95.6%, with WALE at 6.5 years and rental reversions averaging ~51%.

Analyst ratings: Majority rating remains at ‘buy’, with average 12‑month target prices around S$2.65, implying ~16% upside.

Key risks: According to Maybank analyst Krishna Guha, downside risks for Keppel DC Reit will continue to come from non-renewal of leases at the older assets and subsequent modernisation capital expenditure.

5. Parkway Life REIT – SGX: C2PU

Key information (15 June 2026):

• 52‑week market cap change: -2.5%
• Five‑year average dividend yield: ~3.5%
• P/E ratio: 16.8 times
• P/B ratio: 1.54 times
• P/NAV: 1.54 times
• Gearing ratio: 34.2%

About the company: Parkway Life REIT is one of Asia’s largest listed healthcare REITs, with a portfolio worth ~S$2.57 billion across Singapore hospitals, Japan nursing homes, and French nursing facilities. 

Latest DPU and portfolio metrics: Q1 2026 distributable income rose 15.1% YoY to S$28.8 million, with DPU at 4.42 Singapore cents. Occupancy remains 100% in Singapore and France, and 93% in Japan.

Analyst ratings: Majority rating remains at ‘buy’ (71% of analysts rated it as such), with an average 12-month share price target of S$4.79, indicating an upside potential of 22%.

Key risks: DBS analysts said rising inflation is a ‘clear tailwind’ for Parkway Life REIT, with an estimated 65% of its revenue derived from Singapore hospitals under an inflation-linked rental structure.

6. Frasers Centrepoint Trust – SGX: J69U

Key information (15 June 2026):

• 52‑week market cap change: +4.1%
• Five‑year average dividend yield: ~5.3%
• P/E ratio: 20.7 times
• P/B ratio: 0.97 times
• P/NAV: 1.01 times
• Gearing ratio: 40.0% 

About the company: Frasers Centrepoint Trust (FCT) owns nine suburban malls including Causeway Point, Northpoint City, and Tampines 1, serving residential catchments across Singapore. 

Latest DPU and portfolio metrics: For H1 FY2026, distributable income rose 17.2% YoY to S$125.0 million, translating into a DPU of 6.14 Singapore cents (up from 6.05 Singapore cents a year ago). Occupancy remains near 99%, reflecting strong tenant demand for suburban retail space.

Analyst ratings: RHB and UOB maintained ‘buy’ calls as of April 2026, with target prices of S$2.69 and S$3.06 respectively, citing resilient suburban retail demand in H1 2026.

Key risks: The upcoming Johor Bahru-Singapore Rapid Transit System (RTS) Link, to be completed end-2026, could result in leakage of consumer spending, according to UOB analyst, Jonathan Koh.  

7. Mapletree Logistics Trust – SGX: M44U

Key information (15 June 2026):

• 52‑week market cap change: +8.9%
• Five‑year average dividend yield: ~5.5%
• P/E ratio: 24.6 times
• P/B ratio: 0.89 times
• P/NAV: 0.97 times
• Gearing ratio: 40.6%

About the company: Mapletree Logistics Trust (MLT) is Singapore’s first Asia‑Pacific focused logistics REIT, with 175 properties across nine markets including Singapore, China, Japan, South Korea, and India. 

Latest DPU and portfolio metrics: FY25/26 DPU was 7.26 Singapore cents, down 7.0% YoY due to absence of divestment gains and currency headwinds. Portfolio occupancy improved to 96.9%, with WALE at 2.5 years and rental reversions averaging +4.2% (excluding China).

Analyst ratings: 64% of analysts polled by FactSet rated MLT shares a ‘buy’, with 36% rating it a ‘hold’. The stock also has a 12-month average share price target of S$1.37, implying a 12.63% upside potential.

Key risks: Risks include higher longer-end yields, which may tighten financial conditions and raise discount rates for investors, thus creating valuation headwinds for S-REITs, DBS analysts wrote.

8. CapitaLand Ascott Trust – SGX: HMN

Key information (15 June 2026):

• 52‑week market cap change: +4.0%
• Five‑year average dividend yield: ~5.4%
• P/E ratio: 11.1 times
• P/B ratio: 0.71 times
• P/NAV: 0.78 times
• Gearing ratio: 39.9%

About the company: CapitaLand Ascott Trust (CLAS) is Asia’s largest hospitality trust, with 106 properties across 47 cities in 15 countries. Its portfolio includes serviced residences, hotels, and rental housing.

Latest DPU and portfolio metrics: Q1 2026 distributable income rose 9% YoY to S$74.1 million, while DPU was stable YoY at 1.58 Singapore cents. Revenue per available unit (RevPAU) grew 8% YoY, driven by strong demand in Singapore, Japan, and Europe.

Analyst ratings: FactSet consensus shows majority ‘buy’ (75%), with an average share price target of S$1.06, implying an 18% upside over the next 12 months.

Key risks: Inflation, interest rate outlook, and any further uncertainty caused by the Middle East.

9. Daiwa House Logistics Trust – SGX: DHLU

Key information (15 June 2026):

• 52‑week market cap change: -12.4%
• Trailing 12-month dividend yield: ~8.8%
• P/E ratio: 9.61 times
• P/B ratio: 0.70 times
• P/NAV: 0.76 times
• Gearing ratio: 38.5%

About the company: Daiwa House Logistics Trust (DHLT) owns 17 modern logistics facilities across Japan, leased to domestic corporations under long‑term contracts. 

Latest DPU and portfolio metrics: Q1 FY2026 distributable income was JPY 1.52 billion, up 3.1% YoY, translating into a DPU of 1.12 Singapore cents. Occupancy remained at 99.3%, with WALE at 6.2 years. 

Analyst ratings: FactSet consensus shows a majority ‘buy’ rating, with a 12‑month average target price of S$0.63, implying ~27% upside.

Key risks: Potential for further rate hikes from the Bank of Japan create headwinds for Japan.

10. Digital Core REIT – SGX: DCRU

Key information (15 June 2026):

• 52‑week market cap change: -3.9%
• Trailing 12-months dividend yield: ~7.4%
• P/E ratio: 13.6 times
• P/B ratio: 0.60 times
• P/NAV: 0.59 times
• Gearing ratio: 34.0%

About the company: Digital Core REIT owns a portfolio of 11 data centres across the US and Canada, leased to hyperscale clients including cloud and AI service providers. Assets under management total ~US$1.5 billion, with occupancy at 97%. 

Latest DPU and portfolio metrics: Q1 2026 distributable income rose 6.2% YoY to US$28.4 million, translating into a DPU of 0.90 US cents. Portfolio WALE stood at 5.1 years, with rental escalations averaging ~3% annually.

Analyst ratings: DBS maintains a ‘buy’ rating with a share price target of US$0.70, while UOB also stayed at ‘buy’ with a more optimistic share price target of US$0.93.

Key risks: ‘Pace of uplift in the coming quarters may moderate from the strong levels recorded’ in Q1 2026, DBS analysts said. 

How to trade and invest in SG REIT stocks with IG Singapore

CFD share trading
 

1. Create a live or demo account
2. Find an opportunity among one of our 10,000+ stocks with our  stock screener
3. Click ‘buy’ to go long or ‘sell’ to short
4. Set your position size
5. Take steps to manage your risk
6. Open and monitor your position

Investing
 

1. Open an account via IG Markets Singapore app
2. Search for Singapore REIT stocks on the app
3. Choose the shares you want to buy
4. Determine how many shares you want to purchase
5. Place your order
6. Monitor your investment and collect any dividends

S-REIT shares FAQs

Footnotes

1 Monetary Authority of Singapore (MAS), "Guidelines for Singapore REITs," January 2025.
2 SGX Market Statistics, "S-REIT Market Capitalisation Report," February 2025.