Dividends are a major draw for Singaporean investors, and REITs sit near the top of the list. The larger trusts have just posted their latest results, and dividend investors are paying attention. One thing trips up many income investors, though. REITs are not all the same. The type of property a trust owns decides how steady its income is, where its growth comes from, and what tends to go wrong. Three recent reporters show this clearly, with each one standing in for a different type.

The Healthcare REIT: Parkway Life REIT

Parkway Life REIT (SGX: C2PU), or PLife REIT, is one of Asia’s largest listed healthcare REITs. It owns 74 properties worth S$2.57 billion as at 31 March 2026, spread across three Singapore hospitals, 60 Japan nursing homes and 11 France nursing homes. Healthcare REITs are prized for steady income. The latest quarter shows why. Gross revenue dipped 2.1% year on year (YoY) to S$38.2 million. Net property income (NPI) eased 2.7% to S$35.8 million....