What are the best Australian REITs on the ASX? [2025]
Due to their superior tax treatment, REITs can be a compelling choice for investors seeking real estate exposure with the potential for strong income generation. There are dozens of Australian REITs listed on the ASX, with many firms focused on specific real estate sectors. Explore our list of leading Australian REITs on the ASX below.
Watch these top 10 REITs in Australia
Company Name | Ticker | Share Price | 1YR Return | Market Cap | Dividend Yield |
|---|---|---|---|---|---|
Goodman Group | $31.42 | -7.53% | $63.68b | 0.92% | |
Scentre Group | $3.62 | +14.20% | $18.93b | 5.00% | |
Stockland | $5.55 | +24.72% | $13.33b | 4.77% | |
Vicinity Centres | $2.37 | +24.08% | $10.77b | 5.20% | |
Mirvac Group | $2.30 | +12.20% | $9.04b | 4.86% | |
The GPT Group | $4.68 | +12.50% | $9.01b | 5.42% | |
Charter Hall Group | $17.57 | +49.02% | $8.28b | 2.89% | |
Charter Hall Long Wale REIT | $3.93 | +14.91% | $8.28b | 6.72% | |
Dexus | $7.51 | +6.68% | $8.11b | 5.63% | |
National Storage REIT | $2.33 | +6.88% | $3.26b | 5.00% |
Data as of 2 May 2025. Source: Stake, Google.
*The list of REITs mentioned is ranked by market capitalisation. When deciding what securities to feature, we analyse the company's financials, recent news, advancement in their timeline, and whether or not they are actively traded on Stake.
Find the best Australian REITs for your portfolio
1. Goodman Group ($GMG)
Goodman Group owns, develops, and manages various types of industrial properties such as logistics centres, warehouses, business parks, and data centres in major global cities. They typically offer end-to-end real estate services, from building design to long-term management of the property.
Currently, Goodman Group’s portfolio is worth over $84 billion and is spread across 15 countries. The company’s 1,700+ clients cover a range of industries including logistics, automotive, and retail. Like Charter Hall, Goodman has an investment management arm that partners with institutions and funds four property partnerships in Australia.
Learn more about Goodman Group in our Under the Spotlight on the company.
2. Scentre Group ($SCG)
Scentre Group owns and operates 42 Westfield shopping centres across Australia and New Zealand. The company was formed in 2014 as a result of Westfield Group's restructuring. Westfield's U.S. and U.K. assets were acquired by a multi-national commercial real estate firm, while Australia and New Zealand assets were spun off as Scentre.
The shopping centres are typically anchored by major supermarkets and department stores, alongside retailers, food, and entertainment. Despite declining consumer preference for physical shopping, Scentre Group’s performance has been resilient. The company’s attractive dividend yield and large portfolio could make it a compelling choice for investors seeking stability.
3. Stockland ($SGP)
Stockland develops and manages residential, retail, and commercial properties across Australia. With a market cap of over $12 billion and a highly diversified portfolio, the company is a major player in the Australian real estate market.
Stockland has several different real estate segments. Along with shopping centres, the company also owns and manages both residential and retirement communities. Finally, Stockland has a commercial property arm that includes both office properties and logistics centres.
As the company has been in business for over 70 years, Stockland could be a strong choice for investors looking for a tried-and-true real estate investment. In addition, the firm has posted an impressive 1-year total return of over 20%.
🆚 Compare SGP vs CHC→
4. Vicinity Centres ($VCX)
Vicinity Centres is one of Australia's largest retail property managers, managing 52 retail assets. The company owns several shopping centres focused on premium brands including Melbourne's Emporium and the Queen Victoria Building in Sydney. Vicinity’s properties are anchored by more than 6,000 retailers.
Vicinity Centres owns office spaces located in proximity to its shopping centres, as the firm is looking to mixed-use developments for future growth. Currently, the firm has several projects in development, including office buildings, luxury retail centres, and mixed-use properties.
5. Mirvac Group ($MGR)
The Mirvac Group is a real estate development and management firm whose portfolio spans residential, office, industrial, and retail properties. Currently, the office segment has the highest portfolio value, but future plans are targeting mixed-use and residential developments near urban areas. Mirvac is also a key player in the Australian build-to-rent market.
Mirvac emphasises sustainability and innovation in their designs, pointing toward factors such as the NABERS Energy rating when advertising its buildings. Mirvac’s portfolio is located entirely within Australia, which could make it a compelling choice for investors seeking domestic real estate exposure.
6. The GPT Group ($GPT)
The GPT Group has its roots in the General Property Trust, the first property trust ever listed on the ASX in 1971. Since then, the firm has evolved into a leading manager of retail, office, and logistics properties.
Currently, the GPT Group has $34 billion in assets under management, making it one of the largest REITs in Australia.
GPT has a particular focus on prime office towers located in some of Australia’s leading markets, including Melbourne and Sydney. The firm is also notable for its 5.42% dividend yield, one of the highest on the list.
Overall, this REIT could be a good choice for investors seeking a robust and resilient portfolio along with ample cash generation.
7. Dexus ($DXS)
Dexus invests in a range of commercial property assets across Australasia, with a total of $53.4 billion under management. The firm is focused on developing and refurbishing high-quality assets in major cities, especially around the centres of Sydney, Melbourne, and Brisbane. Dexus directly or indirectly owns about $14.5 billion worth of property, with the rest being managed under the firm’s fund business.
Office space and industrial properties are the largest drivers of portfolio value for Dexus. This means the firm's future will be affected by remote and hybrid working trends. In addition, the firm’s acquisition of AMP Capital in 2023 created a significantly larger entity that is still being integrated. Although the firm has lagged behind some higher-flying peers, Dexus’ active development projects point to continued potential growth.
8. Charter Hall Group ($CHC)
Charter Hall Group specialises in managing and investing in property on behalf of institutional and retail investors. The firm is responsible for investment funds that encompass over 1,500 properties and $83 billion in value. Further, the company has a development pipeline projected to create about $13.3 billion in new assets.
Charter Hall’s structure means that investors can either purchase shares in the company directly or in one of the company’s several listed funds. Moreover, the company also features several unlisted property funds. CHC is the strongest performer on our list, soaring over 38% in the past year on strong investor enthusiasm.
9. Charter Hall Long WALE REIT ($CLW)
CLW is a REIT managed by Charter Hall Group. This fund focuses specifically on properties with a long weighted average lease expiry (WALE). Properties with a longer WALE are generally considered to be less risky, as tenants are locked into their leases for an extended period. During times of economic disruption, this can potentially make long WALE investments more stable.
On the other hand, long WALE properties are sometimes less poised to capture higher-paying tenants if the economy improves. Currently, CLW’s portfolio has an average WALE of 9.7 years and an impressive 99.8% occupancy. This REIT also boasts a dividend yield of 6.72%, making it a potentially attractive choice for real estate investors focused on stability and income.
10. National Storage REIT ($NSR)
As the name suggests, National Storage REIT is exclusively focused on developing and managing self-storage properties. These unique real estate assets can provide both attractive leasing income and potential stability during economic slowdowns.
NSR is one of Australia’s leading storage providers, offering storage space to over 90,000 residential and commercial customers. This REIT could be a good choice for investors seeking diversified real estate exposure outside of traditional office and residential properties.
How to invest in REITs in Australia?
Follow our step-by-step guide below to start investing in real estate investment trusts in Australia:
1. Find a stock investing platform
To invest in REITs, you’ll first need to find an investing platform that offers access to the Australian Securities Exchange (ASX). There are several share investing platforms available, of which Stake is one.
Get started with Stake
Sign up to Stake and join 500k+ investors accessing the ASX & Wall St all in one place.
2. Fund your account
Next, open an account by completing an application with your personal and financial details. You’ll then need to fund your account with a bank transfer, debit card, or Apple/Google Pay.
3. Search for the REIT
Find the company name or ticker symbol. Always conduct your own research to ensure that the investment is suited to your risk tolerance and financial goals.
4. Set a market or limit order and buy the shares
You can buy an ETF almost instantly at the current price by using a market order during the trading day. Alternatively, enter a limit order to purchase your ETF when it reaches a specific price. Consider dollar cost averaging to spread out your risk, which involves buying at consistent intervals.
5. Monitor your investment
Once you own the REIT, monitor its performance over time. Check your portfolio regularly to ensure that your investment remains aligned with your financial goals.
What are the best-performing REITs in Australia?
The Australian REIT industry has grown strongly in recent years. Some of the best-performing REITs on the ASX over the past five years include:
- Stockland ($SGP): 18.98% five-year annualised performance
- Vicinity Centres ($VCX): 15.90% five-year annualised performance
- Charter Hall Group ($CHC): 20.21% five-year annualised performance
Remember, past performance is no guarantee of future returns, and the leading REITs over the next five years could be different.
How do Australian REITs differ from international REITs?
Australian REITs are quite similar to REITs from other countries, such as the U.S.
Both American REITs and Australian REITs must distribute at least 90% of their income to investors to qualify for better tax treatment.
However, because the size of the Australian real estate market is smaller than the U.S., there is often less capacity for diversification and specialisation. As a result, many Australian REITs cover a variety of sectors, including office, residential, and industrial.
Overall, investors may wish to consider including both Australian REITs and international REITs in their portfolios, depending on their investment goals.
What are the risks of investing in real estate investment trusts?
The risks of investing in REITs are similar to the risks of investing in stocks as a whole.
If the company is not managed well or tenants do not pay, the REIT may not perform well. Real estate sectors can also be particularly sensitive to economic cycles and interest rate changes.
REITs have the added complexity of needing to ensure compliance with tax rules to keep their tax-advantaged status. Overall, the strong performance of Australian REITs in recent years could make these risks worth bearing for many investors, particularly those focused on income generation.
Australian REITs FAQs
There are currently 44 listed REITs on the ASX, according to the exchange.[1]
In total, these REITs have a market cap of $167.6 billion and an average daily trading volume of $141 million. The Australian REIT market is tracked by the S&P/ASX 200 A-REIT index.
For investors seeking exposure to the REIT industry as a whole, the SPDR S&P/ASX 200 Listed Property Fund ($SLF) is one ETF tracking this index. With an expense ratio of just 0.16%, SLF is a compelling low-cost option. The Vanguard Australian Property Securities Index ETF ($VAP) is another potentially suitable fund with a slightly wider focus.
The Goodman Group ($GMG) is Australia's largest REIT, with a $56.2 billion market cap. This is more than twice the size of the next-largest REIT, Scentre Group ($SCG). However, Goodman Group’s size also means that it may find future growth more challenging – the firm posted a negative total return over the past year, even as industry peers rose.
REITs are popular investments in the U.S. due to their regular dividend payments. Some major players include Prologis, Inc ($PLD) for industrial properties, American Tower Corporation ($AMT) with large numbers of communication sites, and Equinix, Inc. ($EQIX), which focuses on data centres. Check out more U.S. REITs that pay recurring dividends.
Some popular global REIT ETFs available to Australian investors include Vanguard Global ex-U.S. Real Estate ETF ($VNQI) and iShares Global REIT ETF ($REET).
Disclaimer
The information contained above does not constitute financial product advice nor a recommendation to invest in any of the securities listed. Past performance is not a reliable indicator of future performance. When you invest, your capital is at risk. You should consider your own investment objectives, financial situation and particular needs. The value of your investments can go down as well as up and you may receive back less than your original investment. As always, do your own research and consider seeking appropriate financial advice before investing.
Any advice provided by Stake is of general nature only and does not take into account your specific circumstances. Trading and volume data from the Stake investing platform is for reference purposes only, the investment choices of others may not be appropriate for your needs and is not a reliable indicator of performance.
$3 brokerage fee only applies to trades up to $30k in value (USD for Wall St trades and AUD for ASX trades). Please refer to hellostake.com/pricing for other fees that are applicable.
