Property: Nomura note that BTO income ceiling may be raised following comments in General Election (GE), and could impact on HDB resale, DBSS, EC demand, with suggestions that the income ceiling for buyers of BTO HDB flats may be raised to $10,000/month. Likely to have a direct impact on the HDB resale, DBSS and EC markets. Add that City Dev, with 2 upcoming EC launches, is likely to be the most impacted among the developers.
JP Morgan note that all eyes on 2011 General Election. SREITs results season showing good underlying fundamentals and expect investment activity to pick up in nxt few mths due to tender for several sites and portfolio of assets. Reiterate positive stance on SG property sector. Believe that S-REITs will provide strong div yield with stable growth prospects whilst SG developers will yield better returns at the right entry levels.
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