To The Moon

In 2025, total new private home sales (excluding ECs) reached 10,821 units, up 67.3% year-on-year from 6,469 units in 2024 — the highest level since 2021.

At the same time, residential prices continued to edge higher. For the full year, prices rose by approximately 3.4% — not an aggressive surge, but clearly maintaining an upward trend.

New home transactions surged, but the more tradable opportunity could be in REITs.

For investors: the opportunity is trading REITs?

Strong home sales do not mean investors need to buy physical property.

For stock market participants, S-REITs offer a more liquid and flexible way to express a view on property fundamentals while trading interest-rate expectations and cash-flow re-rating.

The key takeaway from the housing rebound is not price momentum, but: demand resilience, more stable rental fundamentals, and manageable asset-side pressure.

Once the market starts pricing in an easing rate environment, REIT prices often respond faster than physical property values.

Beyond blue chips: mid-cap S-REITs that became more active in 2H 2025

Large REITs tend to attract long-only allocation flows. But in 2H 2025, trading activity picked up meaningfully among a group of mid-cap S-REITs, driven by events, operational data, and shifting expectations.

Their common trait: liquidity followed catalysts.

$Lendlease Reit(JYEU.SI)$— Asset recycling in focus

👉 Average daily turnover jumped from S$2.5m in 1H to S$6.7m in 2H

Sold part of its JEM office asset to reduce leverage and unlock capital; Subsequently acquired a 70% stake in PLQ Mall, funded by a private placement that was nearly 3× oversubscribed.

$AIMS APAC Reit(O5RU.SI)$ — Sponsor signal + industrial cash flow

👉 Trading liquidity more than doubled in the second half

Sponsor increased its stake to nearly 18.7%, strengthening alignment; Acquired an industrial asset with positive DPU accretion; Industrial REITs continue to be viewed as defensive cash-flow vehicles

$Sasseur Reit(CRPU.SI)$ — Consumption recovery validation

👉 Notable increase in trading activity during 2H 2025

Anniversary sales at four outlet malls delivered >30% YoY growth in single-day sales. The outlet model benefited from value-driven consumer behavior

$EliteUKREIT GBP(MXNU.SI)$ — Cash-flow certainty

DPU rose 9.4% YoY, supported by higher occupancy and rental income. Interest-coverage ratio improved, with no refinancing needs until 2027UK government-linked tenants provided defensive characteristics

$OUEREIT(TS0U.SI)$ — Fundamentals + re-rating

Delivered 24% total return in 2H, ranking near the top of the iEdge S-REIT Index. Revenue and NPI grew YoY in Q3, signaling operational stabilization. Analyst ratings were upgraded from Hold to Buy.

Which REIT theme are you watching next?

Will Singapore’s housing market remain strong?

After a solid performance last year, can S-REITs continue to push to new highs this year?

• Data centres (AJBU / ME8U)

• Logistics & industrial (M44U)

• Office & integrated commercial (C38U / A17U / N2IU)

• Retail recovery (J69U)

Leave your comments to win tiger coins~

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