SINGAPORE (Dec 20): The FTSE ST Real Estate Investment Trust Index is up 23.5% this year, buoyed by three interest rate cuts by the US Federal Reserve. The Straits Times Index by contrast is up only 8.8% year-to-date.  This year, the US Federal Funds Rate declined from the 2.25% to 2.75% range down to 1.5% to 1.75% as at end-Oct, when the Fed announced its final rate cut for the year.

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