“Contrary to market fears of a property price drop off in 2024, we see a ‘calming down’ in the Singapore property price index (PPI) – to 0% to +2% (from [around] 4.5% in 2023) on the back of lower transaction velocity, especially from foreigners/investors (deterred by high stamp duties) and a higher supply completion pipeline,” the analysts write.
DBS Group Research analysts Derek Tan, Tabitha Foo, Rachel Tan have named listed developers CapitaLand Investment (CLI), City Developments Limited (SGX:C09
) (CDL) and GuocoLand (SGX:F17) as their top picks among the Singapore-listed property stocks.
Despite the divergent property price trend that is expected to emerge, property in Singapore is “still one’s pot of gold”, say the analysts in their Dec 12 report.
