Singapore REITs (S-REITs) have come under pressure in recent months due to tighter COVID-19 restrictions and the expectations of an early rise in interest rates. Although falling prices are disappointing, they can be an opportunity for long-term investors to accumulate S-REITs at a bargain. Despite near-term challenges, S-REITs will likely remain resilient in the medium to long term given their robust fundamentals and growth outlook.  Here’s why. Explaining the volatility  In May, Singapore entered Phase 2 (Heightened Alert) to curb the spread of the coronavirus. As the situation improved, so did investor sentiment. S-REITs enjoyed a short rally before growing COVID-19 clusters in July and August once again put us back into tightened safe management measures. The retail, office and hospitality REIT subsectors were most affected by these stricter measures. In September, another headwind for S-REITs came in the form of interest rate uncertainty. Since the US Federal