"With the anticipated newsflow on upcoming new launches in the sector, we believe there is room for share price outperformance," says Lock in a Monday report.
SINGAPORE (Apr 3): CIMB is maintain the property and development sector at "overweight" with UOL and City Developments as top picks after q-o-q private homes price hike came in strongest in nearly eight years.
"We maintain our 2018 projections of 5% price appreciation and volume demand to reach 11,000-12,000 units," says analyst Lock Mun Yee who estimates Singapore-listed property stocks are currently trading at a 35% discount to RNAV.
