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Property sector kept at ‘overweight’ by CIMB on robust July home sales

Property

Property sector kept at ‘overweight’ by CIMB on robust July home sales

PC Lee Published on Wed, Aug 16, 2017 / 12:41 PM GMT+8

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SINGAPORE (Aug 16): CIMB is maintaining its “overweight” call on property development and investment stocks given robust home sales in July which doubled from June as volume takeup continued to outpace new launches. Its top picks include UOL, CapitaLand, City Developments and Wing Tai.

In July, total primary home sales came in at 2,086 units, or 1,108 units excluding executive condo (EC) transactions. These represented 96%/35% m-o-m jumps and 8.1%/1.4% y-o-y increases, respectively

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