Singapore - Housing 17 (Feb 16 - Dec 19)

Re: Singapore - Housing 17 (Feb 16 - Dec 18)

Postby winston » Thu Jan 03, 2019 9:16 am

Singapore Residential Sector: A first dip since 2Q17

URA’s flash estimate for the private residential property price index showed a slight decline of 0.1% QoQ for 4Q18. This was the first sequential dip since 2Q17.

For 2018, private home prices increased 7.9%, and this was a tad shy of our 8%-10% full-year forecast.

We remain largely cautious on the near-term outlook of the Singapore residential sector, and had previously alluded on potential negative drivers such as moderating economic growth and continued impact from the property cooling measures, coupled with risks from an expected bumper crop of new launches in 1H19.

One silver lining would be the moderation in the Government Land Sales (GLS) programme for 1H19.

We maintain our -3% to +2% private residential price growth projection for 2019, as well as our forecast for 10k-12k private sales transactions.

Maintain NEUTRAL on the Singapore residential sector, with our preferred sector picks remaining as UOL [BUY; FV: S$8.41] and CapitaLand (CAPL SP) [BUY; FV: S$3.96].

Source: OCBC
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Re: Singapore - Housing 17 (Feb 16 - Dec 18)

Postby behappyalways » Sat Jan 12, 2019 6:41 pm

Chart of the Day: Which developer launched the most units in 2018?
https://sbr.com.sg/residential-property ... ts-in-2018
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Re: Singapore - Housing 17 (Feb 16 - Dec 18)

Postby behappyalways » Wed Jan 16, 2019 7:42 pm

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Re: Singapore - Housing 17 (Feb 16 - Dec 18)

Postby behappyalways » Tue Jan 22, 2019 8:01 am

Singapore developers pessimistic and cautious over property market in 2019
https://sbr.com.sg/commercial-property/ ... et-in-2019
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Re: Singapore - Housing 17 (Feb 16 - Dec 18)

Postby behappyalways » Sat Jan 26, 2019 8:08 pm

Singapore is seeing an unprecedented mortgage slowdown
https://www.theedgesingapore.com/singap ... e-slowdown
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Re: Singapore - Housing 17 (Feb 16 - Dec 18)

Postby behappyalways » Tue Feb 12, 2019 6:20 pm

This research house has an unbearish view of local residential property market
https://www.theedgesingapore.com/resear ... rty-market
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Re: Singapore - Housing 17 (Feb 16 - Dec 18)

Postby behappyalways » Sun Feb 17, 2019 4:22 pm

Singapore Jan private home sales fall 17.8% on year
https://www.theedgesingapore.com/singap ... l-178-year
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Re: Singapore - Housing 17 (Feb 16 - Dec 19)

Postby behappyalways » Wed Feb 20, 2019 8:38 am

Unsold residential units doubled to over 34,000 in 2018
https://sbr.com.sg/residential-property ... 00-in-2018
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Re: Singapore - Housing 17 (Feb 16 - Dec 19)

Postby behappyalways » Fri Mar 08, 2019 10:39 am

(30% sold or 3%(based on 1410 units)) :D :D :D

The Florence Residences captures 54 sales during launch weekend
https://www.edgeprop.sg/property-news/f ... ch-weekend
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Re: Singapore - Housing 17 (Feb 16 - Dec 19)

Postby winston » Mon Mar 18, 2019 9:55 am

Singapore Residential Sector: A new train line, a boost to sales

Following a turbulent 2018, a more risk-on market sentiment this year has aided a recovery in share prices of the SG developers under our coverage YTD, with average total returns of +7.0%.

In terms of demand YTD, after a soft Jan, private home sales in Feb showed a more encouraging uptick of +4.4% QoQ and +18.5% YoY to 455 units (excluding ECs).

This was driven in part by the government’s announcement in late-Jan on the new Cross Island Line, with projects located near the line selling more units.

Looking ahead, we expect transaction volumes to gather momentum with more new projects to be launched. While valuations remain cheap, we maintain NEUTRAL on the Singapore residential sector in light of the softer macroeconomic outlook and sizeable launches expected in 2019 which may stymie price growth.

Our preferred sector picks are UOL Group (UOL SP) [BUY; FV: S$8.45] and CapitaLand (CAPL SP) [BUY; FV: S$3.98].

Maintain NEUTRAL with preferred sector picks UOL Group (UOL SP) [BUY; FV: S$8.45], CapitaLand (CAPL SP) [BUY; FV: S$3.98].

Source: OCBC
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