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Further upside to property-related companies on the way, says KGI

Samantha Chiew
Samantha Chiew10/21/2019 04:01 PM GMT+08  • 2 min read
Further upside to property-related companies on the way, says KGI
SINGAPORE (Oct 21): In September, new home sales reached the highest monthly sales since July 2018, when the latest round of property cooling measures came into effect.
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SINGAPORE (Oct 21): In September, new home sales reached the highest monthly sales since July 2018, when the latest round of property cooling measures came into effect.

According to data released by the Urban Redevelopment Authority (URA), developers sold a total of 1,270 private residential units, which represented a 13% m-o-m and 36% y-o-y increase.

In a Monday report, KGI says that fundamentally, the resilient new home sales have been driven by improved housing affordability. The price-to-income ratio has improved to around 7x in 2019, down from 9x in 2010, driven by increasing household incomes.

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