Singapore’s real estate investment trusts (S-REITs) extended their strong rally into the fourth quarter of 2025, delivering superior returns amid an improving macro backdrop. After a robust Q3, S-REITs entered Q4 with positive momentum supported by healthy fundamentals and easing interest rate pressures.
By mid-December, S-REITs were on track for their best annual performance since 2019, with full-year total returns of 15.3% (including dividends).
This marked a significant rebound from the sluggish performance of 2023, and notably outpaced many global REIT markets, and far surpassed USA REITs (FTSE Nareit All REITs Index) which saw a 1.7% total return.
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