SINGAPORE (June 3): CGS-CIMB Research analyst Lock Mun Yee is reiterating an “add” call on real estate services provider APAC Realty with a target price of 53.8 cents, translating to an upside of 32.8% for the counter. 

In a Tuesday report, Lock notes that new home sales year to date, inclusive of executive condominiums stand at 2,848 units or a year-on-year decrease of 22%. This accounts for 36% of the lower-end of the brokerages transaction volume estimates of 8,000 to 9,000 units for 2020 

According to the Urban Redevelopment Authority (URA), sales of new private homes during the circuit breaker period from May 1 to May 24 totaled to 322 units, or “slightly more” than 270 units recorded in April. 

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