Net Property Income, or NPI, is one of the metrics used to evaluate a REIT's performance, particularly those that are listed in the Singapore jurisdiction.

Net property income is gross revenue minus property maintenance fees, property taxes, and other operating expenses that are related directly to the property.

It is used as a barometer of how well a REIT's portfolio of properties is performing, including how much its costs to maintain.

Another REIT metric that is sometimes confused with NPI is net income, which is net property income minus management fees, performance fees, financing costs, and foreign exchange gains or losses.

This entry is part of REITsWeek's glossary of REITs and real estate investment terms.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.

2 thoughts on “Net Property Income”
  1. […] of properties is generating. Property Yield is calculated by obtaining the total amount of Net Property Income (NPI) generated by all the properties in the portfolio, divided by the total value of the properties in […]

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