It seems like the property market has cooled a little in Singapore. However, based on the figures on the Residential Property Price Index, the 3rd Quarter prices are still higher than the previous 2 quarters. We are halfway from the 08 peak and even further away from 97 peak.
Will 2010 continue to see property prices rising?
If you have read my previous post, I have mentioned that property stocks tend to lead the property market from 3 to 6 months.
Look at the property stocks and REITs currently. Many of them have been breaking new one year or even 2 year highs after they retraced for a few months. Here are some property stocks/REITs that deserve some attention:
Allgreen (9-month high)
AscendasREIT (1-year high)
AscottREIT (1-year high)
CDL Trust (1-year high)
City Development (1-year high)
FirstREIT (2-year high)
FraserCT (1-year high)
Ho Bee (2-year high)
Keppel Land (1-year high)
SP Land (1-year high)
Suntec REIT (1-year high)
UOL (1-year high)
Wheelock (1-year high)
As you can see, many property stocks have broken their 1-year high and seem to have momentum to go further. If property stocks are still leading the property market, we may see the property fever coming back again. And based on the charts, the fever may be higher than what we have experienced this year.
Share
{ 1 trackback }
{ 0 comments… add one now }