APAC Realty is riding on the buoyant property market, and has its 1QFY2021 results to show for it, says DBS Group Research analyst Ling Lee Keng. 

In a May 14 note, Ling is maintaining her “buy” call on the company, with a raised target price of 74 cents from 61 cents previously. 

“We project the transaction value for Singapore’s overall property market to grow by a strong 27% in FY2021F and another 3% in FY2022F. This is revised up from our previous assumption of 6.5% in FY2021F and 6.6% in FY2022F, after 14% growth in FY2020,” writes Ling.

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