The PPI’s 0.5% q-o-q improvement reaffirms her view that the private residential market is on the mend, on the back of higher y-o-y buying demand, she adds.
SINGAPORE (Oct 3): CIMB Research is keeping its sector “overweight” view on Singapore’s property development and investment sector following the URA property price index’s (PPI) reversal from its downtrend in 3Q17, bringing private residential prices back to around 4Q16 levels.
In a Monday report, analyst Lock Mun Yee notes that while property stocks – which are currently trading midway between average and -1 s.d. discount to mean – have outperformed year to date (YTD) and she believes the sector will continue its strong performance given the evidence of volume and price recovery.
