Singapore REIT Benchmark Index
Singapore Investing Glossary | The Kopi Notes
The primary benchmark index for Singapore REITs is the iEdge S-REIT Index, maintained by Singapore Exchange (SGX). It tracks the performance of all SGX-listed REITs and property trusts by free float-adjusted market capitalisation. Other relevant indices include the FTSE ST Real Estate Index and the MSCI Singapore Real Estate Index. These benchmarks are used by fund managers, ETF providers, and investors to measure S-REIT sector performance.
For educational purposes only. Not financial advice.
Table of Contents
The iEdge S-REIT Index: Singapore's Primary REIT Benchmark
FTSE ST Real Estate Index and Other Singapore Real Estate Indices
How the Singapore REIT Index Is Used by Investors
Key Statistics of the Singapore REIT Index
How to Access Singapore REIT Index Returns
The iEdge S-REIT Index: Singapore’s Primary REIT Benchmark
The iEdge S-REIT Index is maintained by SGX and is the most widely referenced benchmark for the Singapore REIT sector. Key facts as at Q1 2026:
- Composition: All SGX-listed REITs and property trusts meeting minimum market cap and liquidity thresholds
- Weighting methodology: Free float-adjusted market capitalisation
- Rebalancing: Semi-annual (typically June and December), with interim reviews for major corporate actions
- Total return version: The iEdge S-REIT Leaders Total Return Index incorporates DPU reinvestment for a complete return picture
FTSE ST Real Estate Index and Other Singapore Real Estate Indices
FTSE ST Real Estate Index: Part of the FTSE Straits Times Index family. Broader than the iEdge S-REIT Index — includes non-REIT property companies like CapitaLand Group and City Developments.
MSCI Singapore Real Estate Index: Used by international institutional investors for global real estate allocations.
SGX iEdge S-REIT Leaders Index: A sub-index of the top 25 S-REITs by free float market cap — more concentrated and used for larger fund mandates.
How the Singapore REIT Index Is Used by Investors
Performance comparison: Compare your total return (DPU received + price appreciation) against the iEdge S-REIT Index to assess whether your selection added value versus passive exposure.
ETF construction: Index-tracking S-REIT ETFs replicate the index by holding constituent REITs in proportion to their free float market cap weights.
Sector analysis: The index provides data on aggregate dividend yield, price-to-book ratio, and total return of the S-REIT sector, giving investors a macro view of valuation.
Key Statistics of the Singapore REIT Index
| Metric | iEdge S-REIT Index (est. Q1 2026) |
|---|---|
| Number of constituents | ~40 REITs and property trusts |
| Aggregate distribution yield | ~5.5–6.5% |
| Average P/B ratio | ~0.8–1.0x |
| Top 5 REIT weight (est.) | ~50–55% of index |
How to Access Singapore REIT Index Returns
Singapore investors can access the S-REIT benchmark index’s returns through:
1. S-REIT ETFs on SGX: The NikkoAM-StraitsTrading Asia ex Japan REIT ETF and the Lion-Phillip S-REIT ETF (CLR) track REIT-related indices.
2. Index data from SGX: Historical index data and constituent lists are available from SGX’s official website under the iEdge index family section.
For individual REIT selection, comparing your chosen REITs against the index’s distribution yield and NAV discount/premium benchmarks is a useful valuation starting point.
Frequently Asked Questions
What is the Singapore REIT benchmark index?
How many REITs are in the iEdge S-REIT Index?
Is there an ETF that tracks the Singapore REIT index?
What is the average yield of the Singapore REIT index?
How often is the Singapore REIT index rebalanced?
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