Shares of Singapore property developers posted sharp falls yesterday as the market gave its first reaction to the tighter rules on home loans brought in by the Government to help curb the continued upward pressure on residential prices. CapitaLand fell 3.3 per cent, City Developments dropped 2.3 per cent and Keppel Land lost 1.7 per cent. The Straits Times Index lost 1 per cent. Analysts said there was...
Property Shares
Property plays are trading at steep discounts from book value and this may make them ripe for the picking, according to a DBS Group Research report published yesterday. As earnings visibility is clouded by the current economic uncertainties, a less volatile valuation parameter to consider is the book value of assets, the report said. About 60 per cent of the stocks listed on the Singapore Exchange are...
Singapore-listed property counters have been massively sold down in recent weeks. They are underperforming the benchmark STI, with losses of about 61 per cent year-to-date. With the outlook for the sector still cloudy, analysts say they would prefer to remain cautious on these property stocks for the year ahead. Weak new home sales in Singapore have translated into soft earnings, a poor outlook, and...