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Singapore Private-Home Prices Could Grow 7% in 2021 -- Market Talk

Dow Jones Newswires ·  2021/10/18 03:36

0736 GMT - Singapore private-home prices could grow 5%-7% this year, as healthy demand and an government support are spurring an active housing market, CGS-CIMB says. Despite September sales falling 37% on year to 834 units, sales units sold still outpaced units launched--just 220--signaling healthy demand, it says. This should benefit City Developments Ltd. and UOL Group, as these Singapore developers appear to have a strong pipeline of residential-property projects, CGS-CIMB says. It has add ratings on City Developments and UOL Group, with target prices of S$8.97 and S$8.00, respectively. CDL is flat at S$7.41 and UOL rises 0.1% to S$7.28. (yongchang.chin@wsj.com)

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