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APAC Realty, Propnex 'hitting a speed bump' with new property cooling measures: CGS-CIMB

Jovi Ho
Jovi Ho10/5/2022 08:32 AM GMT+08  • 4 min read
APAC Realty, Propnex 'hitting a speed bump' with new property cooling measures: CGS-CIMB
The two listed real estate agencies here are “hitting a speed bump” as property cooling measures bring “near-term headwinds”.
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The two listed real estate agencies here are “hitting a speed bump” as this week’s property cooling measures bring “near-term headwinds”, writes CGS-CIMB Research analyst Lock Mun Yee.

In separate Oct 3 notes, Lock is maintaining “add” on APAC Realty and Propnex. She trims APAC Realty’s target price to 77 cents from 84 cents previously, while cutting Propnex’s target price to $1.89 from $2.07.

The recent round of property cooling measures announced on Sept 30 included raising interest rate floor for Total Debt Service Ratio (TDSR) and Mortgage Service Ratio (MSR) computation to 4% from 3.5% and lowering loan-to-value (LTV) for HDB housing loans to 80%.

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