UOBKayhian on 27 Jan 2014
The Urban Redevelopment Authority's (URA) real estate statistics for 4Q13 shows that prices of residential, office, retail and industrial properties changed -0.9% qoq (1.1% yoy), 0.5% (5.2% yoy), 0.0% (4.3% yoy) and -3.3% (3.2% yoy) respectively. Rentals for residential, office, retail and industrial properties adjusted by -0.5% (0.9% yoy), 0.6% (1.3% yoy), 0.1 % (-0.9% yoy) and 0.2% (5% yoy) respectively.
The recovery in the office sector is gaining momentum while the residential and industrial sectors are turning down. The retail segment is expected to remain stable. We prefer deep value and diversified stocks with exposure to the office sector. Top picks include CapitaCommercial Trust, Suntec REIT, Keppel Land and Ho Bee.
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