SINGAPORE (Sept 5): CIMB is maintaining its “overweight” on Singapore’s property stocks as they are trading at about 30% discount to RNAV despite outperforming the STI benchmark year to date.
In a Monday report, analyst Lock Mun Yee expects the property development and investment sector to continue to perform well given the evidence of volume and sentiment recovery.
The latest development charges (DC) for Sept 17-Feb 18 show unchanged or higher DC rates for all property sectors. Non-landed residential rates jumped by an average 13.8% over the same period, with the highest rise of 29% applied to the Tampines Rd, Hougang, Punggol and Sengkang areas, as a result of strong pricing during the recent en-bloc transactions
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
