SINGAPORE (Jan 2): The Singapore property market is expected to remain resilient for 2020, according to DBS Group Research.
In a Jan 2 report, lead analyst Derek Tan says on the back of this sentiment, the developers under the research house’s coverage have been actively clearing inventories in 2019. “We see dissipating risks to their exposure to Singapore (SG) residential market which we estimate to drop to less than 15% of RNAV based on unsold inventories,” he adds.
Additionally, 2019 saw local developers going on an acquisition spree, with more than $17 billion of deals inked.