The FTSE Straits Times Real Estate Investment Trust Index has surged 18% in 2019, closing last week at the highest since 2007. The gauge traded at 1.2 times book value on Friday, the most expensive in more than six years.
SINGAPORE (July 10): Analysts and investors are questioning whether the rally in Singapore’s beloved real estate investment trusts has room to run.
Strategists from Morningstar to CMC Markets Singapore say REITs, which have gained more than twice as much the broader equity market this year, are starting to look overvalued and may not see such strong performance in the second half.
