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Singaporean (SGX) REITS Industry Analysis

UpdatedSep 18, 2025
DataAggregated Company Financials
Companies5
  • 7D0.5%
  • 3M10.3%
  • 1Y4.1%
  • YTD16.2%

In the last week, REITS has been flat. The past year has been better, since the industry has gained 4.1% in that time. Earnings are forecast to grow by 7.2% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 19 Sep 2025S$31.8bS$3.6bS$1.5b16.2x21.1x8.9x
Sun, 17 Aug 2025S$30.2bS$3.6bS$1.5b16.7x20x8.5x
Tue, 15 Jul 2025S$29.5bS$3.8bS$1.6b21.6x18.6x7.8x
Thu, 12 Jun 2025S$12.2bS$2.0bS$658.8m27.4x18.5x6.1x
Sat, 10 May 2025S$12.1bS$2.0bS$658.8m26.3x18.4x6x
Mon, 07 Apr 2025S$12.5bS$2.0bS$521.5m25.3x24x6.2x
Wed, 05 Mar 2025S$11.9bS$2.0bS$521.5m26.5x22.8x5.9x
Fri, 31 Jan 2025S$12.4bS$2.0bS$459.5m22.7x27.1x6.2x
Sun, 29 Dec 2024S$5.9bS$1.0bS$359.4m12.9x16.3x5.7x
Tue, 26 Nov 2024S$5.8bS$1.0bS$359.4m12.7x16.1x5.6x
Thu, 24 Oct 2024S$6.2bS$1.0bS$359.4m13.8x17.3x6x
Sat, 21 Sep 2024S$6.6bS$1.0bS$359.4m14.8x18.3x6.4x
Mon, 19 Aug 2024S$5.8bS$1.0bS$359.4m13x16x5.6x
Wed, 17 Jul 2024S$5.7bS$1.0bS$290.9m13.9x19.8x5.7x
Fri, 14 Jun 2024S$5.3bS$1.0bS$290.9m12.7x18.3x5.3x
Sun, 12 May 2024S$5.5bS$1.0bS$290.9m13x18.9x5.4x
Tue, 09 Apr 2024S$5.6bS$1.0bS$531.5m7.6x10.6x5.5x
Thu, 07 Mar 2024S$5.4bS$1.0bS$531.5m7.2x10.2x5.3x
Sat, 03 Feb 2024S$10.1bS$1.5bS$419.0m22.1x24x6.8x
Mon, 01 Jan 2024S$10.2bS$1.5bS$569.8m19x17.9x6.8x
Wed, 29 Nov 2023S$9.7bS$1.5bS$507.8m12.6x19x6.5x
Fri, 27 Oct 2023S$9.4bS$1.5bS$507.8m12.4x18.5x6.3x
Sun, 24 Sep 2023S$9.6bS$1.5bS$507.8m13.3x18.9x6.4x
Tue, 22 Aug 2023S$10.0bS$1.5bS$507.8m13.4x19.8x6.7x
Thu, 20 Jul 2023S$10.6bS$1.5bS$792.6m15.3x13.4x7x
Sat, 17 Jun 2023S$10.8bS$1.5bS$792.6m15.4x13.6x7.1x
Mon, 15 May 2023S$10.8bS$1.5bS$792.6m15.1x13.7x7.1x
Wed, 12 Apr 2023S$11.1bS$1.5bS$792.6m15.7x14x7.3x
Fri, 10 Mar 2023S$99.4bS$12.4bS$6.8b14.3x14.6x8x
Sun, 05 Feb 2023S$108.2bS$12.0bS$7.1b12.5x15.2x9x
Tue, 03 Jan 2023S$99.7bS$11.6bS$7.9b11.4x12.6x8.6x
Thu, 01 Dec 2022S$100.4bS$11.8bS$8.0b11.5x12.6x8.5x
Sat, 29 Oct 2022S$96.4bS$11.6bS$7.9b11.2x12.1x8.3x
Mon, 26 Sep 2022S$106.1bS$11.5bS$7.9b12.5x13.4x9.2x
Price to Earnings Ratio

13.4x


Total Market Cap: S$106.1bTotal Earnings: S$7.9bTotal Revenue: S$11.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean REITS Industry Price to Earnings3Y Average 16.9x202320242025
Current Industry PE
  • Investors are optimistic on the Singaporean REITs industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 21.1x which is higher than its 3-year average PE of 16.9x.
  • The 3-year average PS ratio of 6.7x is lower than the industry's current PS ratio of 8.9x.
Past Earnings Growth
  • The earnings for companies in the REITs industry have declined 42% per year over the last three years,
  • Revenues have also declined 32% 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 Market0.21%
Real Estate1.45%
REITS0.55%
Office REITs1.66%
Hotel and Resort REITs1.19%
Industrial REITs0.68%
Healthcare REITs0.58%
Diversified REITs0.55%
Retail REITs0.39%
Specialized REITs0%0
Industry PE
  • Investors are most optimistic about the Hotel and Resort REITs industry which is trading above its 3-year average PE ratio of 14.8x.
    • Analysts are expecting annual earnings growth of 12.9%, which is higher than its past year's earnings decline of 69.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Office REITs industry, expecting annual earnings growth of 18% over the next 5 years.
  • However this is lower than its past earnings growth rate of 28% per year.
  • In contrast, the Diversified REITs industry is expected to see its earnings grow by 7.2% 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$0.343.0%
+S$55.1m		7.8%PB0.6x

Latest News

C38U
S$2.28
CapitaLand Integrated Commercial Trust
7D
-1.7%
1Y
5.6%

Heightened Singapore Exposure Will Worsen Office Earnings Volatility

CapitaLand Integrated Commercial Trust's fair value estimate was maintained at SGD2.43, as the slight decrease in its future P/E multiple was offset by a virtually unchanged discount rate. What's in the News Completed a follow-on equity offering raising SGD 600.0 million through issuance of 284,361,000 units at SGD 2.11 per unit.
T82U
S$1.32
Suntec Real Estate Investment Trust
7D
-0.8%
1Y
-3.6%
TS0U
S$0.34
OUE Real Estate Investment Trust
7D
3.0%
1Y
7.8%