SINGAPORE (Dec 12): JP Morgan says it prefers developers over Singapore real estate investment trusts (S-REITs) going into 2017, even as S-REITs have outperformed both developers and the benchmark FSSTI this year.

Year-to-date, S-REITs have climbed 4%, edging out a 3% gain by the Straits Times Index. Meanwhile, developers have dipped by 1% in 2016.

 “We prefer developers over S-REITs, due to rising interest rates and subdued operating conditions in most property sectors,” says JP Morgan lead analyst Brandon Lee in a report on Dec 8.

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