Property buyers lapped up rece

Property buyers lapped up recent new launches - Emerald of Katong (99% sold at SGD2,621psf), Nava Grove (65% sold at SGD2,448psf) and Novo Place EC (57% sold at SGD1,654psf)
Sales transactions in Nov’24-MTD of almost 2,000 units has exceeded that of 1H24, with sales driven by local home buyers as HDB resale prices remain firm, supporting homeowners in their upgrading journey
Market share for Propnex (46% of transactions) has outpaced ERA (or APAC Realty) (28% of transactions); agency revenues for both likely to turn higher in 2025

Prefer property developers (CityDev) which have substantial sell-through sales, with minimal downside risk to earnings / RNAVs

@SPOT_ON：CITY DEVELOPMENT LTD ... RNAV : $12.60 .. TARGET PRICE $10.50

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