Noting that 20 en bloc sites have been sold in the year to date (YTD) compared to the 28 sites sold last year, he believes “developers’ fatigue” is now slowly setting in despite a fairly active en bloc market.
SINGAPORE (Apr 10): RHB is maintaining its “overweight” call on Singapore’s real estate sector while expecting developers to be more selective in their en bloc bids going forward, with preferences for relatively smaller and well-located sites.
In a Tuesday report, analyst Vijay Natarajan says the current residential cycle could be nearing is peak, and therefore likely to slow down by the second half of the year. This comes on observations of a steady build-up in the supply pipeline, rising land costs, a tighter policy framework and the sufficient restocking of landbank.
