“We project the transaction value for Singapore’s overall property market to grow by a strong 27% in FY2021F and another 3% in FY2022F. This is revised up from our previous assumption of 6.5% in FY2021F and 6.6% in FY2022F, after 14% growth in FY2020,” writes Ling.
APAC Realty is riding on the buoyant property market, and has its 1QFY2021 results to show for it, says DBS Group Research analyst Ling Lee Keng.
In a May 14 note, Ling is maintaining her “buy” call on the company, with a raised target price of 74 cents from 61 cents previously.
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