Singapore Stock Market News

Singapore Property - Market on holiday

StockFanatic
Publish date: Thu, 16 Jan 2014, 10:29 AM
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Dec was quiet as developers and buyers stayed on the sidelines. A mere 118 new units were launched and 259 were sold (excluding executive condos). The low take-up appears to be seasonal. While demand looked weak last month, new supply was weaker. Lower volumes, smaller units and lower margins continue to be the trend.

We continue to expect volume and price to come off in 2014 and maintain Neutral on the sector. Top picks among Singapore-domiciled developers are UOL and FCL as both have timed the market well. CapLand and GLP remain our top picks among Pan-Asia focused developers.
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