With a positive outlook, City Developments (CDL), UOL Group and Guocoland Limited all earn “buy” calls from DBS analysts.
Are Singapore’s banking and property markets unscathed from higher rates? DBS Group Research analysts say property prices are set to moderate amid higher interest rates and tighter lending limits, but a significant drop is unlikely.
“We see a slowdown in prices of the Singapore property market to a tune of +1% to -3% in 2023. Given rising interest rates and economic uncertainty, home buyers are likely to turn cautious with Singapore’s strong household balance sheet preventing a significant drop in property prices,” write DBS analysts Derek Tan, Lim Rui Wen, Tabitha Foo and Rachel Tan in an Oct 31 note.
