Singapore REITs have rallied more than 20% in 2025, buoyed by easing bond yields and resilient demand across offices, retail and logistics. But despite the rebound, the sector still trails broader Asian equities, raising questions about whether valuations can stretch further.

Dan Koh speaks with Xavier Lee, Equity Analyst at Morningstar, to unpack the latest Morningstar Industry Pulse Q3 2025 Report, from what’s driving the recovery to which sectors stand out, how rate cuts could shape returns, and the S-REITs that still offer compelling value today.

Singapore REITs have rallied more than 20% in 2025, buoyed by easing bond yields and resilient demand across offices, retail and logistics. But despite the rebound, the sector still trails broader Asian equities, raising questions about whether valuations can stretch further.
Dan Koh speaks with Xavier Lee, Equity Analyst at Morningstar, to unpack the latest Morningstar Industry Pulse Q3 2025 Report, from what&rsquo;s driving the recovery to which sectors stand out, how rate cuts could shape returns, and the S-REITs that still offer compelling value today.

From current affairs and social issues to lifestyle trends and community voices, each segment offers a different lens on what’s happening — and what’s worth your attention.

Start your day with the stories shaping Singapore — and your place in it.

Join Neil Humphreys and Audrey Siek as they cover the biggest headlines, trending topics, and everyday conversations, unpacked through fresh perspectives, expert insights, and engaging discussion. From current affairs and social issues to lifestyle trends and community voices, each segment offers a different lens on what’s happening — and what’s worth your attention.

And it’s not just talk — it’s your voice. Through polls, messages, and live call-ins, listeners are part of the conversation, sharing their views and shaping the discussion in real time. With a mix of clarity, curiosity, and personality, Let’s Talk, Singapore keeps you informed, connected, and ready for the day ahead.

Start your day with the stories shaping Singapore &mdash; and your place in it.
Join Neil Humphreys and Audrey Siek as they cover the biggest headlines, trending topics, and everyday conversations, unpacked through fresh perspectives, expert insights, and engaging discussion. From current affairs and social issues to lifestyle trends and community voices, each segment offers a different lens on what&rsquo;s happening &mdash; and what&rsquo;s worth your attention.
And it&rsquo;s not just talk &mdash; it&rsquo;s your voice. Through polls, messages, and live call-ins, listeners are part of the conversation, sharing their views and shaping the discussion in real time. With a mix of clarity, curiosity, and personality, Let&rsquo;s Talk, Singapore keeps you informed, connected, and ready for the day ahead.