They are set to deliver their best annual performance in five years.
With an expected pickup in real estate after the easing of housing curbs, developers are foreseen 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.
Bloomberg Markets reported that Singapore property stocks are set for their best annual performance in five years, and strategists believe the rally is far from over.
"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.
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