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Singapore's main real estate brokerages offer great value and defense, say analysts

Michelle Zhu
Michelle Zhu6/7/2019 03:15 PM GMT+08  • 3 min read
Singapore's main real estate brokerages offer great value and defense, say analysts
SINGAPORE (June 7): Phillip Capital and CGS-CIMB Research are initiating positive coverage on both APAC Realty and PropNex, the two main market players within Singapore’s real estate brokerage sector.
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SINGAPORE (June 7): Phillip Capital and CGS-CIMB Research are initiating positive coverage on both APAC Realty and PropNex, the two main market players within Singapore’s real estate brokerage sector.

In a Monday report, Phillip analyst Tara Wong says she likes both stocks for their market dominance within the real estate brokerage market in Singapore, which in turns allows to them to capture a substantial amount of transactions in both buyer and seller markets.

Wong has initiated coverage on APAC Realty and PropNex at “buy” with target prices of 65 cents and 63 cents, respectively.

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