Property: Strong underlying demand
URA data showed that Mar private home sales surged sequentially to 843 units (Feb: 303), as developers launched more condo projects.
Two particular projects which sold well:
- CapitaLand's 268-unit Cairnhill Nine, which sold 177 of the 200 units launched;
- BBR Holdings' 216-unit The Wisteria, that saw home buyers snap up 58% of the units.
Market watchers believe there remains strong underlying demand for good-quality residential properties at the right price.
Maybank KE still remains positive on developers with CityDev (Buy, TP: $9.04) its top pick, as well as CapitaLand (Buy, TP: $3.83), Ho Bee (Buy, TP: $2.33) and Wing Tai (Buy, TP: $1.86).