SGX Market Updates

SGX Real Estate Index’s Three Best Performers Returned 33% in 2019


10 January 2020

  • The Real Estate (ex-REITs) sector was among the top net buy sectors on SGX in Dec 2019, garnering net institutional inflows of S$110.4 million. This was the second-highest inflow after the Financial Services sector’s S$177.7 million.

  • The real estate developer stocks that saw the highest net institutional inflows in December were CapitaLand (+S$42.4 mln), UOL Group (+S$28.6 mln) and City Developments (+S$24.0 mln).

  • In 2019, the three best-performing constituents of the iEdge SG Real Estate Developers & Operators Index were: City Developments (+37.8%), UOL Group (+37.5%) and CapitaLand (+24.7%). The three developers averaged a total return of 33.3% over the last year.

The Real Estate (excluding REITs) sector was among the top net buy sectors on SGX in December 2019, garnering net institutional inflows of S$110.4 million. This was the second-highest inflows after the Financial Services sector’s S$177.7 million.

SGX Dec 2019 Institution Inflows

The real estate developer stocks that saw the highest net institutional inflows in December were CapitaLand, UOL Group and City Developments.

SGX Real Estate Developers with Highest Net Institution Inflows in Dec 2019

December also marked the second straight month of net institutional inflows for the Real Estate (ex-REITs) sector, after S$1.8 million net inflow in November, and reversing October’s outflow of S$293.8 million.

SGX Net Institution Flows for Real Estate (ex-REITS) Sector

The iEdge SG Real Estate Developers & Operators Index is a free-float, market capitalisation-weighted index on SGX that measures the performance of listed real estate developers and operators in Singapore. The Index comprises 19 constituents with a combined market cap of close to S$70 billion.

In 2019, the 3 best-performing constituents of the Index were: City Developments (+37.8%), UOL Group (+37.5%) and CapitaLand (+24.7%). These 3 developers averaged a total return of 33.3% over the last year, bringing their one-year total return to 34.1%.

The table below details the 19 constituents of the iEdge SG Real Estate Developers & Operators Index, sorted by 2019 total return.

Name SGX
Market Cap
1 Yr
CITY DEVELOPMENTS C09 10,275,191,808 37.8 38.9
UOL GROUP U14 7,085,292,544 37.5 36.9
CAPITALAND LTD C31 19,363,229,696 24.7 26.4
OUE LTD LJ3 1,361,742,208 12.9 12.9
GUOCOLAND LTD F17 2,331,091,456 12.7 13.3
CENTURION CORP OU8 369,942,592 12.4 12.5
UNITED ENGINEERS U04 1,714,908,416 7.6 7.2
WING TAI HLDGS W05 1,575,752,960 7.3 7.2
HO BEE LAND H13 1,583,248,768 5.9 3.2
YANLORD LAND Z25 2,356,473,088 4.4 1.2
YING LI INTL 5DM 314,515,936 1.7 7.0
CHIP ENG SENG C29 492,986,080 -0.9 -2.3
TUAN SING HLDGS T24 391,461,984 -6.2 -4.9
HONGKONG LAND H78 17,954,009,479 -7.1 -11.8
HEETON HLDGS 5DP 151,197,776 -7.3 0.2
HONG LAI HUAT CTO 37,153,680 -19.5 -15.8
LHN LTD 41O 51,110,564 -20.7 -24.4
DEBAO PROPERTY BTF 5,025,000 -36.8 -36.8
IMPERIUM CROWN 5HT 12,624,000 -46.4 -42.9

Source: Bloomberg & StockFacts (data as of 7 Jan 2020)

Rising Private Home Prices

Singapore’s private residential property prices rose for the third straight quarter in the October-December 2019 period, according to flash estimates released by the Urban Redevelopment Authority (URA) on 2 January.

The overall price index for private homes rose 0.3% in the fourth quarter, extending the 1.3% increase in the third quarter and the 1.5% gain in the second quarter. For 2019 as a whole, prices were 2.5% higher, versus the 7.9% increase seen in 2018.

URA's flash estimates are compiled based on transaction prices given in contracts submitted for stamp duty payment and data on units sold by developers till mid-December. The data will be updated on 23 January when URA releases its full set of real estate statistics for the fourth quarter of 2019.

Ranked Top 3 Prime Real Estate City Globally

Singapore has been ranked one of the top three prime real estate cities in the world by global real estate investment management firm Heitman, after London and New York.

The results of the ranking, released on 6 January, were obtained from findings across 150 published surveys and indices. The rankings are part of the screening process that Heitman Real Estate Securities Group uses to identify cities, investee companies and REITs for potential inclusion in its Prime Strategies. The latter gives investors access to a real estate securities portfolio comprising shares of public companies that own top-tier properties across the world’s main cities.

This article is provided by SGX My Gateway.

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