- Upgrade Singapore real estate sector to OVERWEIGHT from Neutral; Top Picks: City Developments, APAC Realty.
- - Read this at SGinvestors.io -
- Real estate agencies will be direct beneficiaries while developer stocks should see the narrowing of steep trading discounts.
New home sales momentum to continue into 2025.
- We expect primary volumes of 9,000-10,000 units this year (up 30-50% y-o-y), driven by lower mortgage rates, resilient household balance sheets, and an increase in new launch supply of >13,000 units (double that of 2024). Demand, however, is expected to remain selective, price-sensitive, and skewed towards the mass market and mid-tier segments. This follows a marked turn in buying interest in 4Q24, which saw ~3,500 new homes being sold (more than the entire 9M24).
- - Read this at SGinvestors.io -
Residential prices to continue moderating
- Read more at SGinvestors.io.
Vijay Natarajan RHB Securities Research | https://www.rhbgroup.com/ 2025-01-16
