REIT Index Singapore: STI, iEdge S-REIT Index Explained
This page is for informational purposes only and does not constitute financial advice. Always consult a qualified financial adviser before making investment decisions.
A REIT index in Singapore is a benchmark that tracks the performance of a basket of listed Real Estate Investment Trusts on the SGX. The most widely followed is the iEdge S-REIT Index, which covers more than 35 S-REITs weighted by market capitalisation and free float, serving as the reference index for S-REIT ETFs in Singapore.
What Is the iEdge S-REIT Index?
The iEdge S-REIT Index is the primary benchmark for Singapore Real Estate Investment Trusts. It is managed by Singapore Exchange (SGX) and tracks all SGX-listed REITs and property trusts that meet minimum liquidity and free-float requirements.
As at Q1 2026, the iEdge S-REIT Index covers approximately 36–38 REITs across major sectors: retail, office, industrial, data centres, healthcare, and hospitality. The index is market-cap weighted with free-float adjustment, meaning larger REITs like CapitaLand Integrated Commercial Trust (CICT) and Mapletree Pan Asia Commercial Trust (MPACT) carry greater weight.
The index is a total return index, meaning it captures both capital gains and distributions (DPU). This makes it a more comprehensive measure of S-REIT performance than a price-only index.
S-REIT ETFs That Track the Index
Several ETFs listed on SGX track S-REIT indices, giving investors diversified exposure without picking individual REITs:
| ETF | Index Tracked | Approx. Expense Ratio |
|---|---|---|
| Lion-Phillip S-REIT ETF (CLR) | Morningstar® Singapore REIT Yield Focus Index | ~0.60% p.a. |
| NikkoAM-StraitsTrading Asia ex Japan REIT ETF (CFA) | FTSE EPRA Nareit Asia ex Japan REITs 10% Capped Index | ~0.60% p.a. |
| Phillip SGX APAC Dividend Leaders REIT ETF (BYJ) | iEdge APAC ex-Japan Dividend Leaders REIT Index | ~0.55% p.a. |
Note: no SGX-listed ETF tracks the iEdge S-REIT Index directly with 100% Singapore-only exposure. Lion-Phillip S-REIT ETF is the closest pure-play Singapore REIT ETF by its selection methodology. Read our full Singapore REIT ETF Guide for current comparisons.
iEdge S-REIT Index Performance 2024–2026
The iEdge S-REIT Index experienced significant headwinds from 2022–2023 as global interest rates rose sharply. Higher rates compress REIT valuations (by raising cap rates and increasing borrowing costs) and make yield-seeking alternatives like T-bills and fixed deposits more competitive.
In 2024, the index staged a partial recovery as the US Federal Reserve began cutting rates. In Q1 2026, the index remains sensitive to Fed rate expectations and Singapore’s own monetary policy. As at April 2026, many S-REITs trade at discounts to their net asset value (NAV), presenting both risk and opportunity for long-term investors.
Over the long term (10 years), the total return index has delivered mid-to-high single-digit annual returns, driven primarily by consistent DPU distributions rather than capital appreciation — consistent with the income-focused nature of REITs.
How to Invest in the S-REIT Index
There are two main ways to get S-REIT index exposure in Singapore:
1. S-REIT ETFs — Buy ETFs like CLR or CFA through your brokerage account. These are listed on SGX and tradeable like stocks. You get instant diversification across 20–40 S-REITs with a single purchase. CPF-OA investible (check the latest CPFIS approved list).
2. Robo-advisors — Platforms like Endowus or Syfe offer managed portfolios with S-REIT exposure. Syfe REIT+ in particular tracks the iEdge S-REIT Index directly.
3. Individual REIT selection — For investors who want to overweight specific sectors (e.g., industrial REITs for data centre exposure), picking individual REITs from the index allows more control. See our Best S-REITs Singapore 2026 guide.
Frequently Asked Questions
What is the main REIT index in Singapore?
The primary S-REIT benchmark is the iEdge S-REIT Index, managed by Singapore Exchange (SGX). It covers all SGX-listed REITs meeting minimum size and liquidity requirements, weighted by market capitalisation and free float.
Can I invest in the S-REIT index in Singapore?
Yes — you can invest via S-REIT ETFs listed on SGX (such as Lion-Phillip S-REIT ETF or NikkoAM-StraitsTrading Asia ex Japan REIT ETF), or via robo-advisors like Syfe REIT+ which tracks the iEdge S-REIT Index.
How has the iEdge S-REIT Index performed recently?
The index faced pressure from 2022–2023 due to rising interest rates, which hurt REIT valuations. It recovered partially in 2024 as the Fed began cutting rates, and as at Q1 2026 many S-REITs still trade at discounts to NAV. Long-term total returns have historically been in the mid-to-high single digits annually.
Does the STI include REITs?
The Straits Times Index (STI) is a 30-stock blue chip index that includes a few large S-REITs, but it is not a dedicated REIT index. The iEdge S-REIT Index is the dedicated benchmark covering Singapore REITs specifically.
Is S-REIT index investing suitable for CPF funds?
Some S-REIT ETFs are approved under the CPF Investment Scheme (CPFIS), allowing you to invest OA funds in them. Check the latest CPF Board approved list before investing, as the list is updated periodically.
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