However, in the last quarter of 2024, new launches picked up significantly and the momentum is seen to continue into this year, with new launches nearly doubling to 13,000 units.
Singapore's largest real estate agency PropNex has reported lower FY2024 earnings which missed estimates as well. However, analysts, citing improving prospects and a generous dividend, have raised their respective target prices.
The company reported earnings of $40.9 million for the year ended Dec 31, 2024, down 14% over the preceding FY2023. Revenue in the same period was down 7% y-o-y to $783 million, due to smaller number of new launches.
