在過去12個(gè)月里，新交所iEdge S-REIT指數(shù)以5.1%的股息收益率排在了各亞洲同行之上，比新加坡10年期國債收益率還高出了2.7%。

2018年迄今，新交所的42只房地產(chǎn)投資信托（REITs）和合訂信托（Stapled Trusts ）的平均指示性股息收益率達(dá)6.7%。在這42只信托中，股息收益率最高的五只信托分別是力寶印尼商場(chǎng)信托（Lippo Malls Indonesia REIT，9.9%）、易商紅木信托（ESR-REIT，9.5%）、運(yùn)通網(wǎng)城房地產(chǎn)投資信托（EC World REIT，9.0%）、先鋒醫(yī)療產(chǎn)業(yè)信托（First REIT，9.0%）、凱特物流信托（Cache Logistics Trust，8.9%），這五只信托的平均指示性股息收益率達(dá)9.1%。

新加坡有效借貸成本利率創(chuàng)新高

代表新加坡有效借貸成本的利率在11月份創(chuàng)下1.82%的新高。利率上升對(duì)S-REITs的影響充其量可能只是間接的。隨著時(shí)間的推移，租金和入住率將是驅(qū)動(dòng)房地產(chǎn)投資信托表現(xiàn)的直接因素。然而，有趣的是，由新加坡政府10年期債券收益率跟蹤得出，iEdge S-REIT指數(shù)在過去五年的表現(xiàn)與利率呈負(fù)相關(guān)關(guān)系。

新交所房地產(chǎn)投資信托和合訂信托表現(xiàn)

在新加坡交易所上市的42只信托的總市值已接近1,000億新元，平均指示性股息收益率合計(jì)達(dá)6.7%。

下表列出了在股息收益率方面排名前五位的信托。

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