Retail investors pour $925m into S-REITs in 2026

SGX said retail flows show investors adding to some laggards whilst still focusing on income visibility.

Singapore REITs recorded about $925m in net retail buying in 2026 to 21 May, roughly twice the pace of accumulated net retail buying over 2025, according to SGX data.

SGX said S-REITs continue to appeal to investors because of rental income and recurring distributions, even as valuations adjust to interest rates and funding conditions.

UI Boustead REIT recorded the highest year-to-date net retail flow relative to market capitalisation at 5.9%, with $62.8m in net retail inflows. Its year-to-date total return was -12%.

Other S-REITs with the highest net retail flow relative to market cap included Daiwa House Logistics Trust, CapitaLand India Trust, CapitaLand Ascendas REIT, Keppel REIT, Lendlease Global Commercial REIT, Parkway Life REIT, Keppel Pacific Oak US REIT, Sasseur REIT, and Mapletree Industrial Trust.

SGX said retail flows showed a moderate inverse relationship with recent performance. The 10 most net bought S-REITs fell about 8% on average on a total return basis, compared with about 4% for the most net sold counters.

This may indicate that some retail investors are adding to laggards for rebound potential, whilst reducing exposure to more resilient names. In other cases, buying reflected fundamentals such as income visibility and improving occupancy.

UI Boustead REIT renewed and signed new leases for over 305,000 square feet, lifting committed occupancy to 92.2%.

It also undertook a co-investment in the UIB Konan Phase 3 logistics development in Japan, which is expected to support income diversification and provide an estimated yield on cost of about 4.8%.

SGX said income visibility also supported interest in other counters. Daiwa House Logistics Trust has lease expiries extending beyond 2030, whilst CapitaLand India Trust is supported by leasing momentum in India’s office market.

CapitaLand Ascendas REIT continues to anchor income through its diversified industrial portfolio, whilst Parkway Life REIT benefits from long master leases across its healthcare assets.

The S-REIT sector remains diversified across logistics, industrial, office, retail, healthcare, hospitality, and alternative assets such as data centres. SGX said it also remains one of the more liquid and actively traded segments of the Singapore market.

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