share_log

Singapore Developer Shares Could Gain Amid Active Housing Market -- Market Talk

Dow Jones Newswires ·  Nov 16, 2021 01:50

0644 GMT - Shares of Singapore developers could gain amid an active private-housing market in the country, CGS-CIMB says. The broker notes January-October private-apartment transactions totaled 11,150 units, up 34% on year, and close to its 12,000-unit full-year transaction volume estimate. The active market should boost developers' earnings and improve investor sentiment, with CGS-CIMB preferring developers with visible residential project pipelines and strong balance sheets. Healthy property sales of new launches could prompt a positive sector re-rating, it adds. CGS-CIMB keeps an overweight rating on the sector, with top picks City Developments and UOL Group. (yongchang.chin@wsj.com)

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment