SINGAPORE (July 4): OCBC continues to remain “neutral” on Singapore’s hospitality sector given the recent compression in yields, while highlighting OUE Hospitality Trust (OUEHT) as its top and only “buy” pick with a fair value estimate of 75 cents.
This comes after the Urban Redevelopment Authority (URA) last Friday passed a new legislation that reduces the minimum stay duration for private residential properties to three months from six months previously, with immediate effect.
In a Tuesday report, lead analyst Deborah Ong notes that the move is likely to affect serviced residences (SRs), but she expects the immediate impact to be negligible for now.
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