As we explore the Best Singapore REITs, it is essential to understand the broader market context. Two things are shaping Singapore REITs this September: interest rates have finally settled after years of hikes, and the Iran-US conflict has added a fresh dose of short-term volatility to markets. For anyone building passive income through the best Singapore REITs, that combination usually means one thing: mispriced units worth a closer look.
Many investors are focusing on the Best Singapore REITs during this period of uncertainty. I say this from experience. In 2025, the REITs in my own portfolio paid out S$20,289.89 dollars in dividends, and almost every one of those units was bought during a period when the market had temporarily soured on Singapore REITs. Volatility has been a feature of my buying, not a bug.
Below is where I see value among Singapore REITs heading into September 2026, the three I am personally watching most closely, and the full screened list with dividend yields and valuations as of 4th September 2026.
The Best Singapore REITs often present unique opportunities for passive income.
Why September Is an Interesting Month for Singapore REITs
Among the Best Singapore REITs, certain sectors are poised for recovery.
Rate stabilisation is easing refinancing pressure across the board, which is quietly improving earnings visibility for REITs that looked shaky twelve months ago. At the same time, geopolitical noise has kept prices choppy, and choppy prices are usually where the best Singapore REITs get mispriced relative to their underlying rental income.
Investors looking at the Best Singapore REITs should consider their long-term potential.
The story is not the same across every sector, though:
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- Data centre REITs keep riding the AI infrastructure wave, with demand for cloud capacity showing no signs of slowing.
- Industrial and logistics REITs continue to benefit from supply chain diversification away from single-country manufacturing.
- Hospitality REITs are still clawing back toward pre-pandemic travel volumes.
- Suburban retail REITs keep proving resilient. Suburban retail REITs such as CICT holds up when sentiment sours elsewhere.
- Office REITs remain the sector I am most cautious on, hybrid work has not gone away, though prime Grade A towers are holding tenants better than the rest.
With careful analysis, the Best Singapore REITs can enhance your portfolio.
Three Singapore REITs I am Watching Closely This Month
ESR REIT tops the yield table at 9.77%, and a yield that high always deserves scrutiny rather than excitement. It’s trading well below its net asset value of S$3.066, which tells me the market is pricing in more risk than the fundamentals may justify, but I’d want to see gearing and lease expiry data before treating this as a straightforward buy.
If you are looking for dividend yield, ESR REIT is one of the Best Singapore REITs worth considering this month.
Keppel DC REIT sits lower on yield at 6.04%, but it’s the purest way to play the AI and cloud infrastructure theme among Singapore REITs, and it’s one of the few names in this list trading above book value, a sign the market already trusts its growth runway.
In the realm of the Best Singapore REITs, Keppel DC REIT stands out for its growth potential.
Ascendas REIT is the largest name on this list by market cap at S$11.9 billion, and its 6.31% yield with a price-to-book ratio just above 1 makes it the closest thing to a core, diversify-and-forget holding in the industrial REIT space.
As the largest of the Best Singapore REITs, Ascendas REIT provides stability.
How I Narrow Down the Full List
With close to twenty Singapore REITs worth considering at any given time, I lean on a screener rather than scanning SGX manually. I use the Stocks Café Stock Screener for this (my full thoughts on it are in this stock screener review), filtering for:
Utilizing a screener for the Best Singapore REITs allows for informed decision-making.
- Market capitalisation of at least S$1 billion
- Dividend yield between 5% and 10%
- Price-to-book ratio of 3 or below
These filters exist because they have kept me out of trouble before. A REIT with a tiny market cap can be illiquid and hard to exit. A yield above 10% is often a warning sign, not a gift. And a REIT trading well above book value has less room for error if sentiment turns.
The Full Screened List for September 2026
Reviewing the full list of the Best Singapore REITs can guide your investment choices.
ESR REIT (SGX: 9A4U)
Market Capitalization: SGD 1.8B
Current Dividend Yield: 9.77%
Price to Equity: 132.9
Price to Book: 0.74
Net Asset Value (NAV): SGD 3.066
Closing Price (4-Sep-26): SGD 2.27
Stoneweg EUTrust SGD (SGX: SEB)
Market Capitalization: SGD 1.3B
Current Dividend Yield: 8.73%
Price to Equity: 44.209
Price to Book: 2.237
Net Asset Value (NAV): SGD 1.024
Closing Price (4-Sep-26): SGD 2.29
Stoneweg EUTrust EUR (SGX: SET)
Market Capitalization: SGD 1.3B
Current Dividend Yield: 8.70%
Price to Equity: 44.176
Price to Book: 2.235
Net Asset Value (NAV): SGD 1.024
Closing Price (4-Sep-26): SGD 2.283
CapitaLand Ascott Trust (SGX: HMN)
Market Capitalization: SGD 3.3B
Current Dividend Yield: 7.19%
Price to Equity: 11.517
Price to Book: 0.679
Net Asset Value (NAV): SGD 1.252
Closing Price (4-Sep-26): SGD 0.85
OUE REIT (SGX: TS0U)
Market Capitalization: SGD 2B
Current Dividend Yield: 7.07%
Price to Equity: 56.254
Price to Book: 0.637
Net Asset Value (NAV): SGD 0.557
Closing Price (4-Sep-26): SGD 0.355
Starhill Global REIT (SGX: P40U)
Market Capitalization: SGD 1.2B
Current Dividend Yield: 7.01%
Price to Equity: 27.073
Price to Book: 0.697
Net Asset Value (NAV): SGD 0.753
Closing Price (4-Sep-26): SGD 0.525
AIMS APAC REIT (SGX: O5RU)
Market Capitalization: SGD 1.2B
Current Dividend Yield: 6.83%
Price to Equity: 11.009
Price to Book: 0.712
Net Asset Value (NAV): SGD 2.037
Closing Price (4-Sep-26): SGD 1.45
Lendlease REIT (SGX: JYEU)
Market Capitalization: SGD 1.8B
Current Dividend Yield: 6.67%
Price to Equity: 17.263
Price to Book: 0.716
Net Asset Value (NAV): SGD 0.775
Closing Price (4-Sep-26): SGD 0.555
Mapletree Industrial Trust (SGX: ME8U)
Market Capitalization: SGD 5.5B
Current Dividend Yield: 6.50%
Price to Equity: 27.567
Price to Book: 1.113
Net Asset Value (NAV): SGD 1.734
Closing Price (4-Sep-26): SGD 1.93
Frasers Logistics & Commercial Trust (SGX: BUOU)
Market Capitalization: SGD 3.5B
Current Dividend Yield: 6.45%
Price to Equity: 16.312
Price to Book: 0.815
Net Asset Value (NAV): SGD 1.123
Closing Price (4-Sep-26): SGD 0.915
Mapletree Pan Asia Commercial Trust (SGX: N2IU)
Market Capitalization: SGD 6.4B
Current Dividend Yield: 6.44%
Price to Equity: 25.973
Price to Book: 0.71
Net Asset Value (NAV): SGD 1.733
Closing Price (4-Sep-26): SGD 1.23
Mapletree Logistics Trust (SGX: M44U)
Market Capitalization: SGD 5.9B
Current Dividend Yield: 6.32%
Price to Equity: 22.899
Price to Book: 0.835
Net Asset Value (NAV): SGD 1.378
Closing Price (4-Sep-26): SGD 1.15
Ascendas REIT (SGX: A17U)
Market Capitalization: SGD 11.9B
Current Dividend Yield: 6.31%
Price to Equity: 15.814
Price to Book: 1.019
Net Asset Value (NAV): SGD 2.335
Closing Price (4-Sep-26): SGD 2.38
Ascendas REIT continues to be one of the Best Singapore REITs to watch closely.
Keppel DC REIT (SGX: AJBU)
Market Capitalization: SGD 5.4B
Current Dividend Yield: 6.04%
Price to Equity: 12.051
Price to Book: 1.268
Net Asset Value (NAV): SGD 1.727
Closing Price (4-Sep-26): SGD 2.19
Keppel REIT (SGX: K71U)
Market Capitalization: SGD 4.3B
Current Dividend Yield: 5.95%
Price to Equity: 9.2
Price to Book: 0.649
Net Asset Value (NAV): SGD 1.325
Closing Price (4-Sep-26): SGD 0.86
Keppel REIT has solid fundamentals and is often included in discussions about the Best Singapore REITs.
NTT Data Centre REIT USD (SGX: NTDU)
Market Capitalization: SGD 1.2B
Current Dividend Yield: 5.88%
Price to Equity: 310.641
Price to Book: 0.971
Net Asset Value (NAV): SGD 1.255
Closing Price (4-Sep-26): SGD 1.197
Frasers Centrepoint Trust (SGX: J69U)
Market Capitalization: SGD 4.4B
Current Dividend Yield: 5.65%
Price to Equity: 19.181
Price to Book: 0.911
Net Asset Value (NAV): SGD 2.349
Closing Price (4-Sep-26): SGD 2.14
Frasers Centrepoint Trust is another option to consider among the Best Singapore REITs.
Far East Hospitality Trust (SGX: Q5T)
Market Capitalization: SGD 1.1B
Current Dividend Yield: 5.60%
Price to Equity: 27.369
Price to Book: 0.625
Net Asset Value (NAV): SGD 0.879
Closing Price (4-Sep-26): SGD 0.55
Suntec REIT (SGX: T82U)
Market Capitalization: SGD 4.3B
Current Dividend Yield: 5.35%
Price to Equity: 13.965
Price to Book: 0.689
Net Asset Value (NAV): SGD 2.119
Closing Price (4-Sep-26): SGD 1.46
For those looking for a comprehensive view, I hope my analysis of the Best Singapore REITs is insightful.
What Could Go Wrong
None of this is a reason to buy blindly. Before adding to any position, I check:
- How exposed the REIT is to further interest rate moves
- Whether occupancy and rental reversions are trending up or down
- How concentrated the tenant base is
- How much of the debt maturity wall falls due in the next 12 to 24 months
- Whether an unusually high yield is a bargain or a warning
A REIT that fails two or three of these checks is not automatically a pass, but it is a reason to size the position smaller.
Fitting Singapore REITs Into a Broader Plan
REITs are one piece of an income portfolio, not the whole thing. I hold mine alongside Treasury bills, Singapore Saving Bonds, dividend stocks, and a cash buffer sitting in one of the better savings accounts in Singapore for capital I have not deployed yet. For the Singapore Savings Bonds portion specifically, I also route some purchases through my SRS account. My notes on maximizing SRS contributions cover why that structure works well for long-term holding.
How much you allocate to REITs versus other income assets depends on your stage in life. I lean more heavily into REITs now than I did a decade ago, because the income they throw off matters more to me today than pure growth does.
Quick Answers
Which Singapore REIT has the highest yield right now?
ESR REIT, at 9.77%, though a yield that high is worth investigating rather than chasing on its own.
Is now a good time to buy Singapore REITs?
Rate stabilisation is a tailwind, but geopolitical volatility means prices can still swing. Dollar-cost averaging into positions tends to work better than trying to time a single-entry point.
Do Singapore REITs pay dividends every quarter?
Most pay quarterly or semi-annually. Reinvesting those distributions is what drives most of the long-term compounding.
Disclosure: This post is not financial advice. Do your own research before investing in any Singapore REIT.