In 2025, retail investors in Singapore were net buyers of S-REprITs to the tune of $961 million. Over the same period, institutional investors were net sellers of $1.3 billion. Retail investors have been consistent net buyers of the sector every year since 2019. That is not a short-term positioning difference. This is a persistent, multi-year divergence between two groups of investors looking at the same sector and reaching opposite conclusions.
The question it raises deserves a direct answer: what do institutional investors see in Singapore’s REIT sector that retail investors do not? The answer, as this analysis shows, lies not in sentiment or macro positioning, but in a quality gap that the headline numbers have consistently obscured.
