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Singaporean (SGX) REITS Industry Analysis

UpdatedNov 08, 2025
DataAggregated Company Financials
Companies5
  • 7D-0.7%
  • 3M5.1%
  • 1Y17.0%
  • YTD17.3%

In the last week, REITS has been flat. As for the the longer term, the industry is up 17% over the past 12 months. Looking forward, earnings are forecast to grow by 6.0% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 09 Nov 2025S$32.1bS$3.6bS$1.6b16.5x19.9x9x
Tue, 07 Oct 2025S$32.2bS$3.6bS$1.5b16x21.3x9x
Thu, 04 Sep 2025S$31.1bS$3.6bS$1.5b16.3x20.6x8.7x
Sat, 02 Aug 2025S$28.7bS$3.6bS$1.5b17.2x19.8x8.1x
Mon, 30 Jun 2025S$12.4bS$2.0bS$659.6m26x18.8x6.2x
Wed, 28 May 2025S$11.8bS$2.0bS$658.8m25.6x17.9x5.9x
Fri, 25 Apr 2025S$12.1bS$2.0bS$521.5m24.2x23.3x6x
Sun, 23 Mar 2025S$12.4bS$2.0bS$521.5m25.1x23.8x6.2x
Tue, 18 Feb 2025S$12.1bS$2.0bS$459.5m22.4x26.4x6x
Thu, 16 Jan 2025S$12.3bS$2.0bS$817.5m13.7x15.1x6.2x
Sat, 14 Dec 2024S$6.0bS$1.0bS$359.4m13.3x16.7x5.8x
Mon, 11 Nov 2024S$5.8bS$1.0bS$359.4m12.7x16.1x5.6x
Wed, 09 Oct 2024S$6.4bS$1.0bS$359.4m14.4x17.9x6.2x
Fri, 06 Sep 2024S$6.1bS$1.0bS$359.4m13.8x17x5.9x
Sun, 04 Aug 2024S$5.9bS$1.0bS$309.8m13.2x18.9x5.7x
Tue, 02 Jul 2024S$5.4bS$1.0bS$290.9m12.8x18.4x5.3x
Thu, 30 May 2024S$5.4bS$1.0bS$290.9m12.9x18.6x5.3x
Sat, 27 Apr 2024S$5.5bS$1.0bS$293.1m12.9x18.6x5.4x
Mon, 25 Mar 2024S$5.4bS$1.0bS$531.5m7.6x10.2x5.3x
Wed, 21 Feb 2024S$5.6bS$1.0bS$402.2m19.9x14x5.5x
Fri, 19 Jan 2024S$10.1bS$1.5bS$569.8m18.9x17.7x6.8x
Sun, 17 Dec 2023S$10.1bS$1.5bS$569.8m18.8x17.8x6.8x
Tue, 14 Nov 2023S$9.5bS$1.5bS$507.8m12.3x18.6x6.3x
Thu, 12 Oct 2023S$9.6bS$1.5bS$507.8m12.8x18.8x6.4x
Sat, 09 Sep 2023S$9.8bS$1.5bS$507.8m13.6x19.3x6.6x
Mon, 07 Aug 2023S$10.4bS$1.5bS$576.5m18x18x6.9x
Wed, 05 Jul 2023S$10.6bS$1.5bS$792.6m15.3x13.4x7x
Fri, 02 Jun 2023S$10.7bS$1.5bS$792.6m15.4x13.5x7x
Sun, 30 Apr 2023S$10.8bS$1.5bS$792.6m15.1x13.6x7.1x
Tue, 28 Mar 2023S$11.0bS$1.5bS$792.6m15.5x13.8x7.2x
Thu, 23 Feb 2023S$100.9bS$12.3bS$6.8b13.4x14.9x8.2x
Sat, 21 Jan 2023S$103.0bS$11.6bS$7.9b11.4x13.1x8.9x
Mon, 19 Dec 2022S$100.1bS$11.8bS$8.0b11.5x12.5x8.5x
Wed, 16 Nov 2022S$100.7bS$11.8bS$8.2b11.6x12.3x8.6x
Price to Earnings Ratio

12.3x


Total Market Cap: S$100.7bTotal Earnings: S$8.2bTotal Revenue: S$11.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean REITS Industry Price to Earnings3Y Average 17.3x202320242025
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 19.9x which is higher than its 3-year average PE of 17.3x.
  • The 3-year average PS ratio of 6.7x is lower than the industry's current PS ratio of 9.0x.
Past Earnings Growth
  • The earnings for companies in the REITs industry have declined 39% per year over the last three years,
  • Revenues have also declined 30% 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 Market1.17%
Real Estate-0.80%
REITS-0.71%
Office REITs0.63%
Residential REITs0%0
Specialized REITs0%0
Hotel and Resort REITs-0.48%
Diversified REITs-0.71%
Healthcare REITs-1.00%
Industrial REITs-1.30%
Retail REITs-1.50%
Industry PE
  • Investors are most optimistic about the Hotel and Resort REITs industry which is trading above its 3-year average PE ratio of 15.4x.
    • Analysts are expecting annual earnings growth of 12.2%, which is higher than its past year's earnings decline of 37.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Office REITs industry, expecting annual earnings growth of 16% 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 6.0% 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
N2IU Mapletree Pan Asia Commercial TrustS$1.461.4%
+S$105.5m		17.7%PB0.8x
SET Stoneweg Europe Stapled Trust€1.573.3%
+€27.9m		-3.1%PB0.7x
T82U Suntec Real Estate Investment TrustS$1.350.7%
+S$29.5m		20.5%PB0.6x

Latest News

C38U
S$2.32
CapitaLand Integrated Commercial Trust
7D
-2.1%
1Y
17.8%

C38U: Financial Outlook Will Reflect Revenue Momentum And Reduced Discount Rate

Analysts have raised their fair value estimate for CapitaLand Integrated Commercial Trust from $2.47 to $2.50. They cite improved expectations for revenue growth and a slightly lower discount rate as the reasons for this change.
N2IU
S$1.46
Mapletree Pan Asia Commercial Trust
7D
1.4%
1Y
17.7%

N2IU: Future P/E and Revenue Projections Will Shape Fair Valuation Outlook

Analysts have raised their price target for Mapletree Pan Asia Commercial Trust from $1.49 to $1.53, citing improved revenue growth expectations and a lower discount rate. The new target also factors in slight adjustments to profit margin and future P/E assumptions.
TS0U
S$0.34
OUE Real Estate Investment Trust
7D
-1.4%
1Y
17.2%
T82U
S$1.35
Suntec Real Estate Investment Trust
7D
0.7%
1Y
20.5%
SET
€1.57
Stoneweg Europe Stapled Trust
7D
3.3%
1Y
-3.1%