- PropNex’s outlook for the next 12-18 months appears solid with stable to higher transaction volumes in the private and HDB markets while the number of new launch units is expected to increase meaningfully based on property developers’ timelines. We note that a number of new launch projects after the US Fed rate cut in September has seen very strong sell through.
- - Read this at SGinvestors.io -
Better sales numbers for 2H24 which will positively affect 1H25.
- At a recent institutional investor call with PropNex (SGX:OYY), management highlighted that by end-24, over 4,600 new units will have been launched for sale in 2H compared with just under 2,000 units in 1H24.
- - Read this at SGinvestors.io -
Strong market share at new launches thus far.
- For new launches, PropNex highlighted that it continues to achieve 60-70% market share with examples that it provided being The Landmark, Hillock Green, The Botany, Hillhaven and Pinetree Hill.
Encouraging impact from US Fed rate cut in September.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Adrian LOH UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-11-05
Previous report by UOB:
2024-08-20 PropNex - A Slower 1H24; Expect Some Catching Up In 2H24.
Price targets by 2 other brokers at PropNex Target Prices.
Listing of research reports at PropNex Analyst Reports.
Relevant links:
PropNex Share Price History,
PropNex Announcements,
PropNex Dividends & Corporate Actions,
PropNex News Articles
