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3 developers to 'buy' as residential prices climb

Michelle Zhu
Michelle Zhu4/3/2018 01:13 PM GMT+08  • 2 min read
3 developers to 'buy' as residential prices climb
SINGAPORE (Apr 3): OCBC Investment Research is maintaining “overweight” on Singapore’s residential sector with the view that valuations remain compelling for developers.
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SINGAPORE (Apr 3): OCBC Investment Research is maintaining “overweight” on Singapore’s residential sector with the view that valuations remain compelling for developers.

City Developments (CDL), UOL Group and CapitaLand have been named as the research house’s top buys with fair values of $15.91, $10.63 and $4.26, respectively.

This comes as the FTSE ST Real Estate Holding & Development Index (FSTREH) trades at a blended forward P/B ratio of 0.67 times, which comes in at 0.84 standard deviations below the 10-year average of 0.8 times.

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