Should I buy First REIT stock in 2025?

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At HelloSafe, our expert has been tracking the performance of First REIT for over three years. Every month, hundreds of thousands of users in Singapore trust us to decipher market trends and identify the best investment opportunities. Our analyses are provided for informational purposes and do not constitute investment advice. In accordance with our ethical charter, we have never been, and will never be, compensated by First REIT.

What is First REIT?

The First REIT stock price

The price of First REIT stock is stable this week. As of now, First REIT is trading at SGD 0.27 with no change over the past 24 hours or week. The trust’s market capitalization stands at SGD 566.67 million, with a three-month average daily volume of 1.55 million shares. The Price/Earnings ratio is 13.50, and investors benefit from a high dividend yield of 8.83%. The stock’s beta is 0.25, signaling very low volatility compared to the broader market. This combination of stability and robust income potential makes First REIT an attractive choice for defensive-minded investors in Singapore.

Our full analysis of the First REIT stock

Having reviewed First REIT’s latest financial statements and assessed the stock’s performance across the past three years, we have combined leading indicators, technical and market data, and peer benchmarking through our proprietary analytical models. Our aim: to distill actionable market insights tailored to Singapore investors. So, why might First REIT stock once again become a strategic entry point into the region’s healthcare real estate sector in 2025?

Recent performance and market context

First REIT has demonstrated considerable resilience in the past twelve months, with its share price rising 10.2% year-on-year to SGD 0.27 as of July 2025. While the weekly and 24-hour price movements are flat, this current stability follows a period of outperformance versus sector peers. The stock benefits from a positive market environment for healthcare real estate, particularly in Asia, where demographic expansion and aging populations are driving robust demand for medical infrastructure. Recent events, such as the non-binding letter of intent received from PT Siloam International Hospitals for the purchase of 14 Indonesian healthcare assets, highlight the trust’s dynamic asset strategy and reinforce its regional leadership. Singapore’s REITs in general are profiting from stable monetary policy and renewed investor appetite for defensive, yield-oriented assets, providing a favorable backdrop for First REIT’s continued market strength.

Technical analysis

Technically, First REIT is exhibiting encouraging signals. The stock trades above its 20-, 50-, and 200-day moving averages (with the 50-day at SGD 0.2621 and 200-day at SGD 0.2634), reflecting both short-term and long-term momentum. The RSI at 54.96 is neutral, leaving ample room for further upside before overbought territory is reached. The MACD remains slightly positive, confirming the ongoing bullish dynamic. Notably, key support holds at SGD 0.235 (the 52-week low), while resistance at SGD 0.280 is within sight—an upside breakout could trigger renewed buying interest. Overall, these constructive technical conditions argue for growing investor optimism in the near term.

Fundamental analysis

First REIT’s Q1 2025 revenue stands at SGD 26.1 million, with net property income at SGD 25.3 million, both only marginally lower year-on-year despite adverse currency moves. Most crucially, distribution per unit (DPU) remains attractive at SGD 0.0058, supporting an impressive annualized yield of 8.83%—among the highest in Singapore’s REIT universe. The trust continues to maintain full occupancy (100%) across its 32-property portfolio, which is strategically diversified across Singapore, Indonesia, and Japan. This diversification not only limits idiosyncratic risk but also enables First REIT to leverage positive macro drivers in multiple markets. With a trailing P/E ratio of 13.50, valuation remains attractive compared to the sector average, especially given the trust’s seasoned management and stable operating platform. Furthermore, ongoing efforts to recalibrate the Indonesian and Japanese asset contribution reinforce the trust’s model of defensive and growing income. Standing as the first healthcare REIT listed in Singapore, First REIT is well positioned to capitalize on Asia’s most powerful demographic and structural trends.

Volume and liquidity

First REIT enjoys robust market liquidity, evidenced by a three-month average daily trading volume of 1.55 million shares. This strong turnover highlights steady market confidence and facilitates efficient price discovery for both institutional and retail participants. With a market capitalization of SGD 566.67 million and a healthy free float, the stock remains attractive for those seeking a balance between liquidity and capital appreciation potential. Such liquidity is especially important in times of heightened market volatility, ensuring tradability and dynamic re-rating opportunities.

Catalysts and positive outlook

• The trust’s active pipeline—including the Siloam asset transaction and trust deed amendments enabling strategic buybacks—demonstrates management’s commitment to portfolio optimization.
• Broader catalysts from demographic trends, such as rising healthcare expenditure in Asia and an aging population, should drive sustained demand for the REIT’s core assets and open doors to further expansion.
• First REIT’s “Growth 2.0” strategy, focused on increasing exposure to developed markets while retaining its Asian healthcare core, introduces earnings stability and new potential revenue streams.
• Macro tailwinds, such as a potentially more accommodative interest rate environment, favor income-producing assets, reinforcing First REIT’s relative advantage.
• ESG initiatives and a reputation for prudent stewardship appeal to long-term investors and institutional mandates, supporting rerating potential as sustainability metrics gain importance in the region.

Investment strategies

First REIT’s technical positioning, currently near a historically stable base and ahead of potentially transformative asset deals, makes it compelling for tactical investors seeking short-term upside through a breakout above the SGD 0.280 resistance. Medium-term investors may appreciate the combination of solid yield, geographic diversification, and operational stability, as the trust’s consistent DPU supports attractive total returns regardless of broader market volatility. Over the long term, the stock’s exposure to healthcare property—one of the most structurally resilient real estate segments in the Asia-Pacific—positions it to benefit from secular growth driven by demographics and infrastructure modernization. Entry at current levels seems to offer a favorable risk-reward profile, underscored by strong forward fundamentals and a clear path to organic and inorganic expansion.

Is it the right time to buy First REIT?

Summing up, First REIT’s current proposition is anchored in strong portfolio fundamentals, market-leading dividend yields, sustained occupancy, and a forward-looking management team with a proven record of adapting to sector developments. The share price stability, combined with attractive technical and valuation metrics, suggests First REIT could be entering a new bullish phase, especially as catalysts from portfolio enhancements, demographic shifts, and supportive sector conditions converge. For investors seeking a resilient, income-generating option with exciting growth prospects in Asian healthcare real estate, First REIT seems to represent an excellent opportunity worth serious consideration in 2025. This stock’s combination of stability, high yield, and sector leadership strongly supports the case for renewed interest at current levels.

How to buy First REIT stock in Singapore?

Buying First REIT stock online is simple and secure with a regulated Singapore broker. Investors have two main options: spot buying, where you directly buy and hold First REIT shares, and CFD trading, where you speculate on the price through contracts for difference. Both can be done from your computer or smartphone, making it easy for anyone to get started. Further down this page, you’ll find a comparison of brokers in Singapore to help you make an informed choice.

Cash buying

A cash purchase means directly buying First REIT shares on the SGX, becoming a registered shareholder. Your main costs are a brokerage commission, typically about SGD 5-10 per trade.

First REIT Gain Scenario

If the First REIT share price is SGD 0.27, you can buy around 3,690 shares with a SGD 1,000 stake, including a brokerage fee of around SGD 5.

✔️ Gain scenario: If the share price rises by 10%, your shares are now worth SGD 1,100. Result: +SGD 100 gross gain, i.e. +10% on your investment.

This method is straightforward, and you receive dividends directly if First REIT pays them.

Trading via CFD

With CFDs (Contracts for Difference), you don’t own the underlying First REIT shares but can profit from its price movements with leverage. You pay a “spread” (the difference between buy/sell price) and may incur overnight financing fees if you hold positions overnight.

CFD Gain Scenario with Leverage

You open a CFD position on First REIT shares, with 5x leverage and a SGD 1,000 deposit. This gives you a market exposure of SGD 5,000.

✔️ Gain scenario: If the stock rises by 8%, your position gains 8% × 5 = 40%.

Result: +SGD 400 gain, on a bet of SGD 1,000 (excluding fees).

CFDs offer greater flexibility and short-term trading, but they involve higher risk and are best suited for experienced investors.

Final advice

Always compare the fees, available features, and regulatory status of Singapore brokers before investing in First REIT. Your choice—spot buying for straightforward investing, or CFDs for more active trading—should match your goals, risk appetite, and investment horizon. For more guidance, a detailed broker comparison awaits just below on this page.

Our 7 tips for buying First REIT stock

The latest news about First REIT

First REIT’s unit price has remained stable at SGD 0.27 over the past week. Trading volumes have held firm at an average of 1.55 million units daily, indicating steady investor interest on the Singapore Exchange as the REIT maintains its reputation for resilience and reliable distributions in the local market.

Analysts maintain a positive outlook with an 18.5% upside target from current levels. Leading research houses continue to highlight First REIT’s attractive yield of 8.83% and a price objective of SGD 0.32 per unit, providing local investors with a clear benchmark and constructive sentiment from the professional community.

First REIT’s Singapore portfolio enjoys 100% occupancy and long average lease tenures. The robust operational stability of its Singapore and pan-Asian healthcare assets underpins predictable cash flows, especially valued by Singaporean investors seeking relatively safe, income-generating securities.

Regulatory and taxation environment remains favourable for local unitholders. First REIT’s dividends continue to be exempt from withholding tax for Singapore residents under prevailing REIT rules, strengthening the attractiveness of the stock for income-seeking SG investors.

Currency headwinds in Indonesia and Japan are offset by strategic diversification and asset acquisitions. Despite some softness in portfolio currencies, management’s ongoing portfolio diversification and plans for new healthcare asset acquisitions have been received positively, supporting continued investor confidence regionally.

FAQ

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.