Singapore’s REIT sector has staged a recovery as unit prices rise in anticipation of further interest rate cuts.
Despite the rebound, there are still pockets of opportunities available for passive income investors.
As loans can be refinanced at a lower rate, distributions are expected to grow in 2026.
Here are four standout Singapore REITs delivering yields higher than 6%.
Starhill Global REIT (SGX: P40U)
Starhill Global REIT or SGREIT is a real estate investment trust focused on prime commercial and retail assets.
The REIT’s property portfolio includes stakes in Singapore’s Wisma Atria and Ngee Ann City along with seven other assets worldwide located in Malaysia, China, Japan and Australia.
For the first half of its financial year ending 30 June 2026 (1H FY25/26), the REIT reported a revenue of S$96.3 million, unchanged compared to the previous year.
That said, the trust saw a drop in net property income (NPI) of 0.8% year-on-year (YoY) to S$75.1 million.
However, this decrease is mainly due to the divestment of Wisma Atria office units.
Excluding the divestment, there would be a 0.1% YoY increase in NPI.
The REIT maintained a weighted average lease expiry (WALE) of 7.4 years, signalling that it has predictable cash flow to support stable dividends.
SGREIT has an annualised distribution per unit (DPU) of S$0.036 per unit.
At a unit price of S$0.56, the company has a dividend yield of 6.4%
Mapletree Logistics Trust (SGX: M44U)
Mapletree Logistics Trust or MLT is a REIT that owns warehouses and distribution centers across the Asia-Pacific, spanning 174 properties in nine markets.
For the third quarter of the fiscal year ending 31 March 2026 (3Q FY25/26), the REIT’s revenue fell by 3.1% YoY to S$176.8 million.
Furthermore, the REIT saw a decrease in NPI of 3.3% to S$152 million.
However, these drops are due to a loss of rental income from divestments and foreign exchange (FX) headwinds, not weakening operations.
Notably, six properties were sold at an average 20% premium as part of its capital recycling.
The REIT still managed to achieve a positive rental reversion of 1.1% which signals improved leasing demand.
For the company’s China operations, the rental reversion has improved greatly to negative 2.2% compared to negative 10.2% the same period of the previous fiscal year.
MLT has a trailing DPU of S$0.074.
At a unit price of S$1.24, MLT has a dividend yield of close to 6%.
Mapletree Industrial Trust (SGX: ME8U)
Mapletree Industrial Trust or MIT is a REIT that owns technology-related industrial assets, spanning 136 properties including 13 data centres in North America (NA).
MIT shares the same fiscal year as MLT.
For 3Q 25/26, MIT reported a decline in gross revenue of 8% YoY to S$163.1 million.
In addition, NPI fell by 7.8% to S$122.8 million.
These declines are due to the divestment of three Singapore industrial properties and lower contributions of its NA portfolio.
Based on the market outlook, MIT expects to benefit from the AI boom as vacancies in primary markets have fallen to a record-low of just 1.6%.
Close to 75% of the REIT’s NA data centres are triple-net leases where tenants cover the operating costs.
That said, management is also planning to divest S$500 million to S$600 million in NA assets to be deployed to high-quality data centres in the Asia Pacific and Europe.
MIT has a trailing annual DPU of around S$0.13.
At a unit price of S$2.00, MIT has a dividend yield of 6.6%.
United Hampshire US REIT (SGX: ODPU)
United Hampshire US REIT or UHREIT portfolio consists of 22 assets anchored by US retail centres and supermarkets.
For 2025, UHREIT saw gross revenue fall by 1.7% YoY to US$72 million.
Similarly, the REIT’s NPI decreased by 1.7% YoY to US$49 million.
That said, UHREIT maintains a high retention rate of 90% while sporting 7.7-year WALE.
Since 2024, the REIT divested two assets at premiums of 17.5% and 4.2% — funds were used to acquire higher-yielding assets.
UHREIT has a trailing annual DPU of US$0.0439.
At a unit price of US$0.52, UHREIT offers a dividend yield of 8.4%.
Get Smart: Opportunities still exist but selectivity matters
As interest rates are expected to ease, there are still opportunities to earn a decent yield.
However, investors should look beyond the yield and analyse the underlying assets within these REITs.
Factors such as tenant performance and capital recycling efficiency help to draw a clearer picture of a REIT with sustainable growth.
Investors who are able to select REITs with strong fundamentals and evident growth catalysts will stand to benefit in the long term.
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Disclosure: Gabriel L. does not own shares in any of the companies mentioned.
