Business
PropNex to Benefit From Singapore's Expanding Residential Market — Market Talk
PropNex to Benefit From Singapore's Expanding Residential Market — Market Talk
About this update from Propnex Ltd.
PropNex seems poised to ride on the potential expansion in Singapore's residential market starting next year, says Macquarie Capital analysts in a note. The city-state's residential market is likely to see a higher supply of flats for sale from 2026, as certain public housing's minimum occupation period ends, they say. Transactions could be supported by low mortgage rates if interest rates don't rise, they add. PropNex, as Singapore's largest listed real-estate services company, appears to be the best proxy for the residential market, the analysts say, pointing to its over 60% market share as of last year. Its consolidating share price also makes valuation attractive, they say. Macquarie Capital initiates coverage of PropNex with an outperform rating and S$2.20 target price. Shares rise 1.65% to S$1.85. ([email protected])