SINGAPORE (June 27): The divergence between the share price performances of Singapore developers and their actual business fundamentals has presented buying opportunities for investors, says OCBC Investment Research, who continues to hold a positive view on the outlook of the local property market.

Using the FTSE ST Real Estate Holding & Development Index (FSTREH) as a benchmark, Singapore developers registered negative total returns of 4.8% year-to-date. This underperformed the benchmark Straits Times Index which is down 2.5% but outperformed the S-REITs sector which is down a bigger 6.7%.

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