- Possibility of another interest rate hike and high interest rates staying longer.
- China Property Crisis.
- Israel-Hamas Conflict.
Are you wondering what REITs to buy in October 23 crash? Last week, there was a big drop in REIT prices. For example, Keppel DC REIT (SGX:AJBU) fell from opening price of S$2.03 on Monday to S$1.72 on Friday. That is almost a 15% dip in share price!
The share price of blue chip CapitaLand Ascendas REIT (SGX:A17U) also dropped from S$2.70 to $2.48. That is almost a 8% dip!
My observation was that institutional investors are selling off blue chip REITs. They may have insider news of something big boiling but I do not know.
Nevertheless, the big REIT crash was no surprise to me given the following negative events that have been impacting REITs for quite some time.