Citigroup continues to prefer the Singapore's developers over S-REITs. While data show a slight uptick in residential property sales in May, year-to-date primary sales volumes are down about 23% on-year, it says.
The house expects June sales data to mirror that of May.
"Given the weaker medium-term outlook for Singapore Residential, we prefer developers with a more diversified residential exposure," it says.
Its preferred names are CapitaLand (C31.SG), up 0.9% at $3.29, CapitaMalls Asia (JS8.SG), up 0.8% at $1.88 and HK Land (H78.SG) up 0.6% at US$6.99.
Tuesday, June 18, 2013
Citigroup prefers Singapore's developers to S-REITs
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