Singapore Property Developers' Valuations Remain Attractive

Dow Jones09-21 09:44

0144 GMT - Singapore property developers' valuations remain attractive to UOB Kay Hian's Lock Mun Yee, who notes that the sector trades below its average price-to-book ratios. These valuations appear inexpensive to her as the companies' net-asset values are likely to be supported by firm residential prices and the robust outlook for Singapore commercial and retail properties in the city-state, she says in a note. The analyst expects 8,000-9,000 new home sales in 2026, while prices could increase 2.0%-3.0%. Buying sentiment is likely to be shaped by factors like developers' pricing strategy and location considerations amid rising interest rates, she adds. UOB Kay Hian maintains its overweight rating on Singapore developers. Its sector picks include City Developments.

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Buying sentiment is likely to be shaped by factors like developers' pricing strategy and location considerations amid rising interest rates, she adds. UOB Kay Hian maintains its overweight rating on Singapore developers. 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These valuations appear inexpensive to her as the companies' net-asset values are likely to be supported by firm residential prices and the robust outlook for Singapore commercial and retail properties in the city-state, she says in a note. The analyst expects 8,000-9,000 new home sales in 2026, while prices could increase 2.0%-3.0%. Buying sentiment is likely to be shaped by factors like developers' pricing strategy and location considerations amid rising interest rates, she adds. UOB Kay Hian maintains its overweight rating on Singapore developers. 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