An interesting stock to watch which could be a good buy would be $KEPPEL REIT(K71U.SI)$.

The 3Q22 office rents for Singapore is near a 14-year historical highs. CBD Grade A office rents has reached $11.06 psf per month, even surpassing pre-pandemic peak of $10.81 psf per month, according to JLL. $11.06 psf in 3Q22 is the highest since $12.55 in 4Q08 (the housing bubble).

Rising yields have hurt REITs a lot in recent weeks, but office REITs should remain resilient going into year 2023 as rental rates remain well-supported. There is ongoing relocation and expansion by global and regional firms (especially in the technology and financial sectors) to Singapore.

Singapore's new Overseas Networks and Expertise Pass (effective from 1 Jan 2023) will act as another lever in attracting global and regional firms to set bases in Singapore.

Singapore's reopening, i.e. resumption of work-from-home, is another factor in driving up the demand of office rents. There is also a tight office supply with Guocoland Midtown and Central Boulevard delayed due to the Covid pandemic.

Hence, SREITs with quality office assets are likely to benefit. Keppel REIT is the only pureplay Office SREIT with Grade A offices in prime CBD locations. The yields and DPU growth is still robust for Keppel REIT - FY22F/23F yields at 5.2%/5.4% and FY22F/23F DPU growth at 3%/5%.

So to me, this is a stock that seems good to buy and keep for long. Personally not vested yet, but will consider buying if it drops below $0.95. DYODD before making any investment decisions.