New launches, healthy take-up rates to sustain residential developers in near-term: RHB

By Michelle Zhu / The Edge Singapore | September 11, 2018 3:00 PM SGT
SINGAPORE (Sept 11): RHB Research is maintaining “neutral” on the real estate sector with a flattish price outlook for 2H18, and expectations that primary transactions will decline 10% y-o-y in 2018 with no near-term catalysts for players with larger exposure to the local residential sector.
The research house’s top “buy” pick is CapitaLand with a target price of $4, as it expects the stock to see minimal impact from the recent property cooling measures implemented by the Singapore government.
In a Tuesday report, analyst Vijay Natarajan says he thinks CapitaLand will also benefit from the continued build-up in recurring income base, and its diversified exposure.
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