The beauty of investing in REITs is that you can gain exposure to different property sub-classes.
Income investors favour this asset class because of its consistent dividends, which are paid through both good times and bad.
REITs also allow you to participate in the growth of overseas property markets that you may otherwise not be able to access from Singapore.
Singapore REITs are a diverse bunch, and quite a number of them contain overseas properties within their portfolios.
Here are four REITs with such properties that are delivering attractive distribution yields of 6.8% or more.
Daiwa House Logistics Trust (SGX: DHLU)
Daiwa House Logistics Trust, or DHLT, is an industrial REIT with a portfolio of 18 logistics properties across Japan and a property in Vietnam.
The total aggregate net lettable area (NLA) of the portfolio is more than 499,000 square metres (sqm).
DHLT reported a mixed set of earnings for the first half of 2025 (1H 2025).
Gross revenue rose 5.8% year on year to S$29.2 million, contributed by acquisitions made in July 2024 and March 2025.
Net property income (NPI) increased 6.1% year on year to S$22.5 million.
Distribution per unit (DPU) declined by 8.6% year on year to S$0.0224, dragged down by higher interest expenses due to new borrowings and refinancing of onshore JPY borrowings.
The annualised DPU is S$0.0448, giving the logistics REIT a forward distribution yield of 7.9%.
The REIT’s portfolio occupancy stood at 93.2% as of 30 June 2025, with a long portfolio weighted average lease expiry (WALE) of 6.5 years.
DHLT achieved positive rent reversion for all leases renewed or signed during 1H 2025, for an average rent uplift of 10%.
The REIT’s aggregate leverage stood at 40.7% with a low weighted average borrowing cost of just 1.69%.
With 99.3% of its loans on fixed rates, the REIT is well-buffered against any further interest rate increases.
CapitaLand India Trust (SGX: CY6U)
CapitaLand India Trust, or CLINT, has a portfolio of 10 IT business parks, three industrial facilities, one logistics park, and four data centre developments, all located in India.
The REIT’s total assets under management (AUM) stood at S$3.7 billion as of 30 June 2025.
CLINT reported a commendable set of earnings for 1H 2025 with total property income climbing 10% year on year to S$149.3 million.
NPI also rose 10% year on year to S$113.6 million.
DPU came in at S$0.0397, up 9% year on year.
At the annualised DPU of S$0.0794, CLINT’s units offer a prospective distribution yield of 6.8%.
The REIT’s committed portfolio occupancy stood high at 90% and the portfolio enjoyed a positive rental reversion of 9% for 1H 2025.
Pro-forma gearing, including the issuance of perpetual securities, stood at 40.1%.
The REIT’s cost of debt stood fairly high at 5.9% but it had a healthy interest coverage ratio (ICR) of 2.5 times.
CLINT is relying on several growth initiatives to boost its DPU.
The manager will focus on strengthening the portfolio’s performance by improving space efficiency and diversifying its tenant base.
At the same time, the REIT will explore new developments and/or redevelopment of existing assets and recycle capital into more promising assets.
Stoneweg Europe Stapled Trust (SGX: SET)
Stoneweg Europe Stapled Trust, or SERT, has a portfolio of 100+ predominantly freehold properties located in countries such as France, Germany, Poland, Denmark, and Finland, to name a few.
The portfolio was valued at €2.3 billion as of 30 June 2025.
Like DHLT, SERT also reported a mixed set of earnings as gross revenue inched up 1.1% year on year to €107.4 million, helped by income from a redeveloped property in Milan and strong rental income growth in the logistics and light industrial sectors.
NPI improved by 2.2% year on year to €66.9 million, but distribution per stapled security (DPSS) tumbled 7% year on year to €0.06553 because of higher interest expenses.
The annualised DPSS of €0.13106 means that SERT’s units offer a forward distribution yield of 8.4%.
During 1H 2025, SERT made an initial €50 million investment in its sponsor’s European data centre development fund AiOnX, representing a stake of 6.72%.
The fund has a 10-year life, and its fair value of €74.8 million gives SERT an immediate 49.6% valuation uplift.
Meanwhile, aggregate leverage stood at 43.3% but ICR remained healthy at 3.2 times.
The REIT has no debt expiring until the end of 2026 after a €500 million green bond issuance in January 2025.
Portfolio occupancy remained healthy at 92.4% with a long WALE of 5.1 years.
Digital Core REIT (SGX: DCRU)
Digital Core REIT, or DCR, is a data centre REIT with a portfolio of 11 data centres spread across the US, Canada, Germany, and Japan.
The portfolio had a total AUM of US$1.7 billion as of 30 June 2025.
For 1H 2025, gross revenue soared 84.2% year on year to US$88.9 million.
NPI surged 52.2% year on year to US$46.3 million, but DPU stayed constant year on year at US$0.018 because of an increase in finance expenses.
The annualised DPU stood at US$0.036, which gives the REIT’s units a prospective distribution yield of 7%.
The data centre REIT maintained a high portfolio occupancy of 98% along with an aggregate leverage of 38.3%, giving itself a debt headroom of US$444 million till it reaches the 50% statutory limit.
Its sponsor, Digital Realty Trust (NYSE: DLR), has a US$15 billion pipeline of data centre assets with 300+ data centres that could be injected into the REIT in due course.
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Disclosure: Royston Yang owns shares of Digital Core REIT.
