OCBC wary of residential sector's near-term outlook in spite of encouraging data

By Michelle Zhu
/ The Edge Singapore |
Join our  Telegram  channel and follow our  Facebook  for the latest update.
SINGAPORE (Mar 18): OCBC Investment Research is maintaining “neutral” on Singapore’s residential sector despite the recent recovery in Singapore developers’ stock prices and the announcement of a new Cross Island MRT line, which helped to boost Feb m-o-m private home sales volumes by 4.4%.
The research house’s preferred sector picks remain UOL Group and CapitaLand, which are both rated “buy” with fair value estimates of $8.45 and $3.98, respectively.
In a Monday report, analyst Andy Wong says he nonetheless remains wary of the near-term outlook due to a softer macroeconomic outlook and sizeable launches expected this year, which he foresees to possibly stymie price growth even as transaction volumes are expected to gather momentum going forward.
Advertisement
This article - OCBC wary of residential sector's near-term outlook in spite of encouraging data is originally from TheEdgeSingapore.com
Read also:

Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp Facebook
Subscribe to our newsletter

Our Site

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

View More