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Singaporean (SGX) REITS Industry Analysis

UpdatedFeb 21, 2026
DataAggregated Company Financials
Companies5
  • 7D0.4%
  • 3M3.6%
  • 1Y24.2%
  • YTD1.0%

Over the last 7 days, the REITS industry has dropped 1.4%, driven by a pullback from Mapletree Pan Asia Commercial Trust of 0.7%. In the past year, the industry has gained 24%. Looking forward, earnings are forecast to grow by 1.7% annually.

Industry Valuation and Performance

Has the Singaporean REITS Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 21 Feb 2026S$33.3bS$3.6bS$1.9b19.7x17.9x9.2x
Mon, 19 Jan 2026S$33.3bS$3.6bS$1.6b18.2x20.6x9.3x
Wed, 17 Dec 2025S$32.3bS$3.6bS$1.6b16.9x20x9.1x
Fri, 14 Nov 2025S$32.3bS$3.6bS$1.6b16x20x9.1x
Sun, 12 Oct 2025S$32.1bS$3.6bS$1.5b15.8x21.3x9x
Tue, 09 Sep 2025S$31.6bS$3.6bS$1.5b16.4x20.9x8.9x
Thu, 07 Aug 2025S$29.6bS$3.6bS$1.5b17x19.9x8.3x
Sat, 05 Jul 2025S$28.6bS$3.6bS$1.6b21.5x17.9x8x
Mon, 02 Jun 2025S$11.9bS$2.0bS$658.8m26.2x18.1x5.9x
Wed, 30 Apr 2025S$12.2bS$2.0bS$659.6m25.4x18.5x6.1x
Fri, 28 Mar 2025S$12.5bS$2.0bS$521.5m25.4x24x6.2x
Sun, 23 Feb 2025S$11.8bS$2.0bS$459.5m21.7x25.7x5.9x
Tue, 21 Jan 2025S$12.5bS$2.0bS$817.5m13.9x15.3x6.3x
Thu, 19 Dec 2024S$5.8bS$1.0bS$359.4m13x16.3x5.7x
Sat, 16 Nov 2024S$5.8bS$1.0bS$359.4m12.9x16.2x5.7x
Mon, 14 Oct 2024S$6.3bS$1.0bS$359.4m14.2x17.6x6.1x
Wed, 11 Sep 2024S$6.2bS$1.0bS$359.4m14x17.3x6x
Fri, 09 Aug 2024S$5.7bS$1.0bS$359.4m12.9x15.9x5.6x
Sun, 07 Jul 2024S$5.3bS$1.0bS$290.9m12.8x18.4x5.3x
Tue, 04 Jun 2024S$5.4bS$1.0bS$290.9m12.9x18.7x5.4x
Thu, 02 May 2024S$5.5bS$1.0bS$293.1m12.9x18.7x5.4x
Sat, 30 Mar 2024S$5.5bS$1.0bS$531.5m7.8x10.3x5.4x
Mon, 26 Feb 2024S$5.6bS$1.0bS$402.2m19.7x13.9x5.5x
Wed, 24 Jan 2024S$10.0bS$1.5bS$569.8m18.7x17.5x6.7x
Fri, 22 Dec 2023S$10.1bS$1.5bS$569.8m19x17.7x6.8x
Sun, 19 Nov 2023S$9.6bS$1.5bS$507.8m12.5x18.9x6.4x
Tue, 17 Oct 2023S$9.5bS$1.5bS$507.8m12.7x18.7x6.3x
Thu, 14 Sep 2023S$9.7bS$1.5bS$507.8m13.4x19.2x6.5x
Sat, 12 Aug 2023S$10.3bS$1.5bS$576.5m17.9x17.8x6.9x
Mon, 10 Jul 2023S$10.4bS$1.5bS$792.6m15x13.2x6.9x
Wed, 07 Jun 2023S$10.7bS$1.5bS$792.6m15.2x13.5x7x
Fri, 05 May 2023S$10.9bS$1.5bS$792.6m15.2x13.8x7.2x
Sun, 02 Apr 2023S$10.9bS$1.5bS$792.6m15.2x13.8x7.2x
Tue, 28 Feb 2023S$101.4bS$12.4bS$6.8b14.6x15x8.2x
Price to Earnings Ratio

15x


Total Market Cap: S$101.4bTotal Earnings: S$6.8bTotal Revenue: S$12.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean REITS Industry Price to Earnings3Y Average 17.9x202420252026
Current Industry PE
  • Investors are relatively neutral on the Singaporean REITs industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 17.9x.
  • The 3-year average PS ratio of 6.8x is lower than the industry's current PS ratio of 9.2x.
Past Earnings Growth
  • The earnings for companies in the REITs industry have declined 35% per year over the last three years,
  • Revenues have also declined 34% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the Singaporean Real Estate industry?

SG Market1.56%
Real Estate0.39%
REITS0.35%
Hotel and Resort REITs0.46%
Diversified REITs0.35%
Office REITs0.30%
Industrial REITs0.15%
Retail REITs0.042%
Residential REITs0%0
Specialized REITs0%0
Healthcare REITs-0.13%
Industry PE
  • Investors are most optimistic about the Office REITs industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings decline of 7.1%, which is lower than the prior year's growth of 250.2% per year.
  • Investors are most pessimistic about the Healthcare REITs industry, which is trading below its 3-year average of 26.7x.
Forecasted Growth
  • Analysts are most optimistic on the Retail REITs industry, expecting annual earnings growth of 14% over the next 5 years.
  • This is better than its past earnings growth rate of 2.6% per year.
  • In contrast, the Healthcare REITs industry is expected to see its earnings decline by 9.3% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
TS0U OUE Real Estate Investment TrustS$0.374.2%
+S$82.9m		37.0%PB0.7x
SET Stoneweg Europe Stapled Trust€1.674.4%
+€39.6m		5.7%PB0.8x
T82U Suntec Real Estate Investment TrustS$1.440.7%
+S$29.6m		26.3%PB0.7x

Latest News

N2IU
S$1.44
Mapletree Pan Asia Commercial Trust
7D
-0.7%
1Y
24.1%

N2IU: Distribution Visibility Will Support Stronger Unit Pricing Ahead

Analysts have nudged their fair value estimate for Mapletree Pan Asia Commercial Trust slightly higher from SGD1.79 to SGD1.81, reflecting updated assumptions around discount rate, revenue growth, profit margin and future P/E. What's in the News Announced a distribution per unit of 2.05 Singapore cents for 1 October 2025 to 31 December 2025, comprising 1.60 Singapore cents of taxable income, 0.42 Singapore cent of tax exempt income and 0.03 Singapore cent of capital.
TS0U
S$0.37
OUE Real Estate Investment Trust
7D
4.2%
1Y
37.0%
T82U
S$1.44
Suntec Real Estate Investment Trust
7D
0.7%
1Y
26.3%
SET
€1.67
Stoneweg Europe Stapled Trust
7D
4.4%
1Y
5.7%