This guide covers all seven PSE-listed REITs ranked and compared, a full breakdown of every fee you'll pay, a dividend calculator built on verified historical data, and a step-by-step buying guide. Everything you need to make your first REIT investment.
What Exactly Is a Philippine REIT?
A Real Estate Investment Trust (REIT) is a publicly listed company whose core business is owning and operating income-generating properties. Think of it as a pool: dozens of buildings go in, thousands of investors buy in, and the rental income flows out as regular dividends.
In the Philippines, REITs are governed by Republic Act 9856 (REIT Act of 2009). The one rule every investor must know: a REIT must distribute at least 90% of its distributable income as dividends annually. Because of this, REITs retain almost nothing for internal growth — they expand by issuing new shares or taking on debt, not by hoarding profits. That's why yields are high and capital appreciation is limited. A SEC circular in January 2026 expanded eligible asset types to include energy infrastructure, data centers, and toll roads — none are listed yet, but it opens the door.
How REITs Differ from Regular Stock Picking
Buying AREIT and buying SM Prime Holdings are both stock market transactions. You use the same broker, the same trading platform, the same PSE order book. But the two investments are fundamentally different animals.
Factor
REIT
Ordinary Stock
What you own
Fraction of real buildings + rental income
Equity in a company's earnings and future
Dividends
Mandatory 90% payout by law
Board's discretion — can be cut anytime
How to value it
Yield, FFO, occupancy rate
P/E, revenue growth, margins
Price drivers
Interest rates, vacancies, lease terms
Earnings growth, macro, sentiment
Sponsor risk
High — sponsor sets asset injection prices
Standard governance risk
Capital growth
Lower — most income paid out
Higher — earnings can compound internally
The mental model shift: when you buy a regular stock, you are betting on a company's future earnings growth. When you buy a REIT, you are primarily investing in the present income stream of specific buildings. It is closer to being a landlord than to being a shareholder in the traditional sense.
The 7 Philippine REITs: A Ranked Guide
As of mid-2026, seven REITs trade on the PSE. Here is what you need to know about each one — beyond the headline yield figure.
The first REIT ever listed on the PSE and still the most trusted. AREIT's portfolio is anchored in Makati CBD — the exact micro-market where office vacancies are a tight 8–9%, unlike the struggling fringe zones. Its Greenbelt retail holdings benefit directly from the retail recovery: store openings in Philippine malls surged 34% in Q4 2025 while closures fell sharply. AREIT yields less than its peers on paper, but that lower yield reflects lower risk, not lower quality.
Best for: First-time REIT investors and conservative income portfolios. The anchor position for any Philippine REIT allocation — lowest sponsor risk in the market, Makati CBD concentration where vacancies are tightest.
⚡ Watch for: Share price lags earnings growth — monitor whether the gap closes or widens before adding.
Dividend & Price History — Verified via PSE / Dividends.ph
Year
Annual Div/Share
Approx. Price Range
Div Trend
2021
₱1.30
₱33–₱42
↑ Growing
2022
₱1.93
₱29–₱39
↑ Growing
2023
₱2.12
₱28–₱38
↑ Growing
2024
₱2.25
₱28–₱40
↑ Growing
2025
₱2.37
₱36–₱42
↑ Growing
★ Editor's Pick
VREIT
Vistamalls REIT, Inc.
~8–9% Yield
Sponsor: Vista LandFocus: Retail MallsFootprint: Nationwide
The retail recovery isn't a forecast anymore — it's documented. Store openings surged 34% in Q4 2025 while closures dropped over 60%, with F&B-led expansion driving foot traffic above pre-pandemic levels in many malls. VREIT is the purest beneficiary of this shift on the PSE. It also now carries the highest projected dividend yield of all seven REITs, and its annual payout has grown every year since listing (₱0.03 in 2022 to ₱0.13 in 2025). At a ~₱1.46 share price, it's the most accessible entry point in the REIT market.
Best for: Investors who want the highest current yield, a proven growth trajectory, and direct exposure to the Philippine retail recovery. The only REIT with accelerating dividends, documented sector tailwinds, and the highest projected yield in the market right now.
⚡ Watch for: F&B tenant mix and anchor store footprint — if major tenants reduce floorspace, the thesis weakens. Track quarterly foot traffic disclosures.
Dividend & Price History — Verified via PSE / Dividends.ph ✓ Improving trend
MREIT's township ecosystem model creates tenant stickiness — offices surrounded by retail, residential, and amenities make lease renewals more likely. The thesis holds structurally, and BPO confidence through 2026–2028 supports it. However, dividend data for 2024–2025 shows no confirmed declared payouts on record — a meaningful gap that warrants caution before buying. Existing holders have reason to stay; new investors should wait for the next dividend declaration to confirm the income stream is intact before committing fresh capital.
Hold if you own it — but verify the next dividend declaration before buying new. The township moat is real; the missing 2024–2025 dividend data is a flag that needs clearing first.
⚡ Watch for: The next PSE dividend declaration. If confirmed at ₱0.99–₱1.00/share, the thesis is intact. Silence beyond Q3 2026 warrants a reassessment.
Dividend & Price History — Verified via PSE / Dividends.ph
Year
Annual Div/Share
Approx. Price Range
Div Trend
2021
Listed Oct 2021
₱16–₱18
— Partial yr
2022
₱0.97
₱13–₱18
→ Flat
2023
₱0.98
₱12–₱15
→ Flat
2024
₱0.99
₱12–₱15
→ Flat
2025
₱1.00
₱13–₱15
↑ Slight uptick
CREIT
Citicore Energy REIT Corp.
~7–8% Yield
Sponsor: Citicore Renewable EnergyFocus: Solar Land LeasesStructure: Long-term fixed leases
CREIT does not own buildings at all — it owns land leased on long-term contracts to renewable energy operators. Cash flows are almost entirely contract-driven, making dividends unusually stable and predictable. There is no office vacancy to worry about, no footfall to track, no BPO lease expiry. The risk here is contract counterparty quality and any regulatory shifts in the energy sector. For investors bored of office REITs, CREIT is the most distinctive name on the board.
Best for: Investors who want predictable, contract-locked income outside the office sector entirely. The most structurally distinct REIT on the board — solar land leases mean near-zero tenant default risk compared to any office or retail name.
⚡ Watch for: Energy sector regulation changes and contract renewal terms as the 7-year leases approach mid-cycle.
Dividend & Price History — Verified via PSE / Dividends.ph
Year
Annual Div/Share
Approx. Price Range
Div Trend
2021
—
Listed Jan 2022
— N/A
2022
₱0.18
₱2.50–₱3.30
— Partial yr
2023
₱0.20
₱2.90–₱3.50
↑ Growing
2024
₱0.20
₱3.00–₱3.60
→ Stable
2025
₱0.20
₱3.10–₱3.60
→ Stable
RCR
RL Commercial REIT, Inc.
~7–8% Yield
Sponsor: Robinsons LandFocus: Office + CommercialSpread: Multiple CBDs + Provinces
RCR is the most geographically diversified office REIT in the Philippines. Robinsons' properties spread across Metro Manila CBDs and key provincial cities, reducing the single-location concentration risk that some rivals carry. It is a natural portfolio complement to AREIT's Makati concentration. Dividend consistency has been solid, and the backing of JG Summit-aligned Robinsons Land provides institutional credibility.
Best for: Investors wanting geographic spread beyond Makati and BGC with a reliable dividend track record. The natural diversifier — JG Summit backing, multi-city footprint, and a dividend that has held steady even as share price softened.
⚡ Watch for: The ₱0.13/qtr Q4 2024 payout — if sustained, marks a step-change in yield profile worth monitoring.
Dividend & Price History — Verified via PSE / Dividends.ph
DDMPR consistently posts the highest yield in the Philippine REIT market — but the market is pricing in risk, not generosity. Revenue has declined over the last three years and earnings per share has fallen significantly over the same period. The share price has held up better than underlying fundamentals, which is a cautionary signal. The DoubleDragon sponsor ecosystem is less established than Ayala or Megaworld. The yield is attractive; the risk is real.
Experienced investors only — understand the declining earnings before buying the yield. The history table below is the clearest argument: annual dividends per share have dropped over 90% from peak. The yield looks high because the share price has fallen even faster.
⚡ Watch for: Any quarterly dividend below ₱0.02 signals further deterioration. Do not average down without re-reading recent PSE filings.
Dividend & Price History — Verified via PSE / Dividends.ph ⚠️ Significant decline
Filinvest REIT carries notable exposure to the Alabang corridor, which has been one of the harder-hit micro-markets in Metro Manila's office sector — vacancy in Alabang ran above 32% through 2025. The BPO-heavy tenant base is a double-edged sword: stable in normal times, vulnerable when the outsourcing cycle turns. Yield is competitive but investors should pressure-test the occupancy trajectory before committing a large position.
Value play only — do not buy without checking current Alabang occupancy first. The dividend decline from ₱0.36 (2022) to ₱0.23 (2024–25) is real and driven by rising vacancies, not a one-off. Recovery is possible; it just isn't guaranteed.
⚡ Watch for: Quarterly occupancy disclosures in PSE filings — any sustained move above 75% occupancy materially changes the thesis.
Dividend & Price History — Verified via PSE / Dividends.ph ⚠️ Dividend decline evident
Year
Annual Div/Share
Approx. Price Range
Div Trend
2021
₱0.14
₱6.00–₱7.20
— Partial yr
2022
₱0.36
₱4.50–₱7.00
↑ Peak year
2023
₱0.33
₱3.50–₱5.00
↓ Declining
2024
₱0.23
₱2.80–₱4.00
↓ Declining
2025
₱0.23
₱2.80–₱3.50
→ Stabilising?
⚠️ Office vacancy is not evenly spread. Makati CBD sits at just 8–9% and BGC is tightening — but Bay Area (35%) and Makati Fringe (36%) are a completely different story. AREIT sits in the tight zone. FILRT and DDMPR carry heavier fringe exposure.
Dividend Income Calculator
📌 Higher yield % doesn't mean more income — share price does
AREIT yields 6.1% but pays ₱2.37/share. VREIT yields 8.9% but pays only ₱0.13/share. The difference? AREIT trades at ~₱38, VREIT at ~₱1.46. A ₱50,000 investment in either generates roughly the same peso income — the yield % just reflects how the market has priced each share. Always calculate actual pesos received, not just the percentage.
Use the calculator below to estimate how much you could earn annually from a Philippine REIT investment. Adjust the yield to match any of the seven REITs listed above.
⚠️ Are dividends guaranteed every year?
No. A REIT must pay out 90% of its distributable income — but only if it earns any. A sharp drop in occupancy, mass tenant defaults, or a net loss can reduce or suspend payouts. Philippine REITs have paid consistently since listing due to long-term lease contracts, but this is not a bond coupon. The projection below is an estimate.
🏢
REIT Dividend Income Estimator
Estimates are indicative. Actual returns will vary with share price and REIT performance.
Based on 2021–2025 CAGR
🇵🇭 10% Dividend Withholding Tax — applied to all investors
Year 1 Estimated Returns
Net Annual Income₱3,600
Gross Annual Dividend₱4,000
Dividend Tax Withheld−₱400
Net Per Quarter (est.)₱900
Effective Net Yield7.20%
Year 5 Projected Net Income₱4,370
5-Year Projection — Growth Rate Applied
Year
Portfolio Value
Yield This Year
Gross Dividend
Tax
Net Dividend
Cumulative Net
* Growth rates shown per REIT are the verified 2021–2025 CAGR from PSE dividend disclosures and should not be treated as a forecast — past growth does not guarantee future payouts. AREIT's +16%/yr reflects rapid portfolio expansion; FILRT's −14%/yr reflects Alabang vacancy pressure. A flat 10% dividend withholding tax is applied to all investors. Management fees (≤2% NAV) are already embedded in the yield figures — they are deducted before the REIT declares distributable income.
The Hidden Costs of Buying REITs
Buying and selling a REIT costs exactly the same as buying and selling any ordinary PSE-listed stock. Where REITs differ is in what happens after you own them — two recurring costs that most stock investors rarely encounter.
📊 What Does It Cost to Buy a REIT?
The All-In Transaction Costs — same as any PSE stock
No premium for REITs. Buying and selling a REIT costs exactly the same as buying and selling SM Prime, Jollibee, or any other PSE-listed share.
Buying
Commission (0.25%) + VAT on commission + PSE fee + SCCP clearing
≈ 0.295%
Selling
Same as buying, plus 0.10% Stock Transaction Tax on gross proceeds (reduced from 0.60% under CMEPA, effective July 1, 2025)
≈ 0.395%
Round-trip (buy + sell)
≈ 0.69%
⚠️ Where REITs differ from regular stocks
These two costs are unique to REIT investing — regular stock investors rarely encounter them at this scale.
Dividend Withholding Tax
Deducted automatically every time you receive a dividend — quarterly or semi-annually, indefinitely. Regular growth stocks often pay no dividend, so this rarely applies.
10% per payout
Internal Management Fees
Fund + property manager fees deducted before income reaches you — never visible on your statement, but quietly embedded in the yield you receive.
≤ 2% NAV/yr
How to Buy Philippine REITs: Step by Step
Open a PSE-accredited brokerage account
Any PSE-accredited online broker works — most offer fully digital account opening that takes 1–3 business days. Check our broker comparison guide to find the right one for you.
Fund your account
Via InstaPay or bank transfer. No mandated minimum — but note that REITs trade in board lots (minimum 100 shares per order). At AREIT's ~₱38/share that's ~₱3,800 minimum; at VREIT's ~₱1.46 it's ~₱146. Budget accordingly.
Research your REIT
Check the PSE disclosure page for the latest dividend announcements, occupancy rates, and annual reports before placing any order.
Place a limit order
Search the ticker (e.g. AREIT), set your price, and confirm. Limit orders are smarter than market orders for REITs — they're less liquid than blue-chip stocks.
Collect dividends — then reinvest
Dividends land in your brokerage account net of 10% withholding tax. Reinvesting them into more shares is how compounding starts working for you.
Insider Tips & Common Mistakes to Avoid
🔍
High yield % doesn't mean more income
A 9% yield on a ₱1 share pays ₱0.09. A 6% yield on a ₱38 share pays ₱2.28. Always multiply shares owned by dividend per share — not just the percentage.
📅
Miss the ex-dividend date, miss the payout
You must own shares before the ex-dividend date to receive that quarter's dividend. Buying one day late means waiting a full quarter. Check PSE Edge before buying.
📐
Use FFO not net income to compare REITs
FFO = net income + depreciation. REITs depreciate buildings annually, making net income misleadingly low. FFO shows actual cash collected — it's in every PSE annual filing.
🔗
Watch what the sponsor charges for new assets
REITs grow by buying from their sponsor — the same company that manages the REIT. If they overprice the asset, your returns shrink. Always check the independent property valuation in the disclosure.
💹
Reinvest dividends — the REIT won't do it for you
The 90% payout rule means REITs can't compound internally. Use every dividend to buy more shares. That's the only way compounding works here.
🎯
Start with one. Understand before expanding
One well-researched position in AREIT or VREIT beats five poorly-understood ones. Add more REITs only when you can explain each one's risk in a single sentence.
Common Questions
Do I pay capital gains tax when I sell REIT shares for a profit?
No — and this is one of the most commonly misunderstood points. Stock market profits in the Philippines are not subject to capital gains tax. Instead, you pay a Stock Transaction Tax (STT) of 0.10% on the gross selling proceeds, regardless of whether you made a profit or a loss. This rate was reduced from 0.60% to 0.10% on July 1, 2025 under the Capital Markets Efficiency Promotion Act (CMEPA). The STT is withheld automatically by your broker at the point of sale.
How do I track my REIT after buying?
Two sources cover everything you need. PSE Edge is the official PSE disclosure portal — every dividend declaration, annual report, and material change is posted here first. Your broker's platform will also surface ex-dividend dates and credit dividends automatically on the payment date. Check PSE Edge quarterly at minimum, especially before and after each dividend declaration window.
Is a REIT better than putting money in a high-yield digital savings account?
They serve different purposes. A digital savings account (Maya, Tonik, GoTyme) is risk-free, liquid, and ideal for your emergency fund. A REIT offers potentially higher income (6–9% vs. 4–6% for digital savings) but your principal can fall in value — you could receive a 7% dividend while the share price drops 15%. Use savings accounts for capital you cannot afford to lose. Use REITs for capital you can leave invested for three or more years.
What happens to my investment if the REIT's sponsor goes bankrupt?
The REIT's properties are legally separate from the sponsor's balance sheet — they are owned by the REIT corporation, not the parent company. In theory, the properties and their rental income continue even if the sponsor faces financial difficulties. In practice, a distressed sponsor creates significant governance, management, and asset injection uncertainty that typically hammers the share price. This is a tail risk worth taking seriously when evaluating smaller, less-established sponsors.
Next Step
Ready to buy REITs?
Check out one of our most popular guides so far — choosing the right broker for you.
Disclaimer: MoneyHub PH earns referral fees from some broker links in this article. This does not influence our rankings or editorial assessments. All dividend yields cited are indicative estimates based on publicly available information as of mid-2026 and will change with market conditions. This article is for informational purposes and does not constitute personalised financial advice. Consult a licensed financial advisor before making investment decisions.
