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CGS-CIMB upbeat on property developers as private home sales pick up pace

Stanislaus Jude Chan
Stanislaus Jude Chan6/19/2018 12:22 PM GMT+08  • 2 min read
CGS-CIMB upbeat on property developers as private home sales pick up pace
SINGAPORE (June 19): CGS-CIMB Research is keeping its “overweight” call on the Singapore property sector, following a 53% month-on-month surge in private home sales in May.
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SINGAPORE (June 19): CGS-CIMB Research is keeping its “overweight” call on the Singapore property sector, following a 53% month-on-month surge in private home sales in May.

A total of 1,121 units were sold during the month, some 8% higher than a year ago.

“The bulk of the sales were in the Outside Central Region with 40% of total new sales coming from Twin Vew in the West Coast area and another close to 12% of sales from new projects such as Amber 45 and Sixeen35 Residences,” says analyst Lock Mun Yee in a report on Monday.

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