Singapore property stocks are on a roll

(June 19): Singapore property stocks are set for their best annual performance in five years, and strategists believe the rally is far from over.

With an expected pickup in real estate following the easing of housing curbs, developers are expected to be the bright spot in Singapore equities as gains in the city-state’s stocks may be limited for the rest of the year.

“The residential property market has seen a marked improvement in sentiment,” said Desmond Loh at JPMorgan Asset Management, who helps manage the second-best performing Singapore fund this year. Developers that have started buying land for new projects stand to benefit, he said, adding that vacancy rates are expected to decline over the next few years.

---

Related Stories

• Singapore home sales reach 11-month high as demand returns
• S’pore 1H2024 home sales reach lowest in 20 years
• Singapore’s home prices could remain ‘flattish’; rents may drop by 5% - 10% in 2024: Bloomberg Intelligence

---