- Barely a year after the last round of cooling measures announced in December 2021, the government has introduced several fresh measures to cool the property market, including new restrictions to curb quantum and taper demand.
- Refer to the MAS-MND-HDB joint press release. This time round, the measures are more targeted at the HDB segment while the reduction in the total debt servicing ratio (TDSR) would reduce affordability and also affect the private property market. The HDB resale index has gained 5.2% since December 2021, vs a 4.2% gain for the overall private residential index.
- - Read this at SGinvestors.io -
Impact on APAC Realty’s profitability has been short-lived in the past but expect a prolonged impact this time round.
- - Read this at SGinvestors.io -
- Barely a year after the last round of cooling measures announced in December 2021, the government has introduced several fresh measures to cool the property market, including new restrictions to curb quantum and taper demand.
- Refer to the MAS-MND-HDB joint press release. This time round, the measures are more targeted at the HDB segment while the reduction in the total debt servicing ratio (TDSR) would reduce affordability and also affect the private property market. The HDB resale index has gained 5.2% since December 2021, vs a 4.2% gain for the overall private residential index.
- ERA has a 41.8% market share as at 1H22 in the HDB resale segment. About one-third of its revenue is generated from this segment. The balance two-thirds is split between private resale and new launches. Contribution from each segment varies, depending very much on the new launch pipeline.
- APAC Realty (SGX:CLN) has a proven resilient business model, allowing the group to maintain profitability during economic downturns and property market cycles. Average net profit for 2010 to 2020 is S$17m.
- Read more at SGinvestors.io.
Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.
Lee Keng LING DBS Group Research | https://www.dbs.com/insightsdirect/ 2022-09-30
Read also DBS's most recent report:
2026-02-24 APAC Realty - A More Tempered Trajectory.Previous report by DBS:
2025-08-11 APAC Realty - High Yield, High Growth.Price targets by other brokers at APAC Realty Target Prices.
Listing of research reports at APAC Realty Analyst Reports.
Relevant links:
APAC Realty Share Price History,
APAC Realty Announcements,
APAC Realty Dividend Payout Dates & Corporate Actions,
APAC Realty News
