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CGS-CIMB remains 'overweight' on Singapore property sector, CDL and UOL top picks

Atiqah Mokhtar
Atiqah Mokhtar9/16/2021 4:2 PM GMT+08  • 2 min read
CGS-CIMB remains 'overweight' on Singapore property sector, CDL and UOL top picks
Despite slower home sales in August, sales volume year-to-date remains robust.
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CGS-CIMB Research analyst Lock Mun Yee has reiterated her “overweight” rating for the Singapore property sector, despite slower home sales in August following tightened restrictions to curb Covid-19 cases.

In a Sept 15 research note, she highlights August home sales excluding executive condominiums (ECs) came in at 1,215 units, 3.4% lower y-o-y and 23.5% lower m-o-m. She also notes that sales continued to outpace new launch volumes in August.

See also: CDL, UOL named as CGS-CIMB's preferred picks amid 'overweight' property sector for month of July

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