Property Strategy: Credit Suisse initiates sector report, highlighting that Office and industrial growth accelerated on a YoY and QoQ basis, while retail and private home prices growth slowed. Expect office rents to continue recovering, driven by GDP growth and increasing demand for office space….
Top picks are CityDev and OUE, which CS believes should rerate on their attractive commercial portfolios, while noting that recent correction in volumes and price growth in the residential sector should alleviate fears of further policy risks. Among REITS, top picks are CCT, KREIT and CDL Hospitality.
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