S’pore property stocks safe bet for 2013

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Amid an otherwise subdued performance at the Singapore Stock Exchange in 2012, Singapore property stocks and particularly real estate investment trusts (REITs) were the best performers on the benchmark Straits Times Index and are set to extend their gains in 2013 on higher demand for homes, offices and hotels, according to forecasts by Singapore-based UOB bank. The benchmark’s property index, which tracks 40 developers, gained 48 per cent this year, its best performance since 2009, Bloomberg noted.

Among the top-gainers were CapitaLand, Southeast Asia’s biggest developer, and its retail property unit CapitaMalls Asia. CapitaMalls climbed 72 per cent in 2012, while its parent CapitaLand advanced 69 per cent.

Demand for homes and offices in the city state boosted home prices to a record in the third quarter of 2012. Singapore’s REITs that invest in offices and retail spaces posted the best returns globally this year, driven by acquisitions and higher rents.

Singapore’s property stocks, including REITs, have a market capitalisation of $126 billion and make up 22 per cent of the Straits Times index, according to a report by Merrill Lynch issued on December 13.

Gains in share prices in 2012 have also been driven by acquisitions and privatisation bids as well as the low-interest environment.

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Reading Time: 1 minute

Amid an otherwise subdued performance at the Singapore Stock Exchange in 2012, Singapore property stocks and particularly real estate investment trusts (REITs) were the best performers on the benchmark Straits Times Index and are set to extend their gains in 2013 on higher demand for homes, offices and hotels, according to forecasts by Singapore-based UOB bank. The benchmark’s property index, which tracks 40 developers, gained 48 per cent this year, its best performance since 2009, Bloomberg noted.

Reading Time: 1 minute

Amid an otherwise subdued performance at the Singapore Stock Exchange in 2012, Singapore property stocks and particularly real estate investment trusts (REITs) were the best performers on the benchmark Straits Times Index and are set to extend their gains in 2013 on higher demand for homes, offices and hotels, according to forecasts by Singapore-based UOB bank. The benchmark’s property index, which tracks 40 developers, gained 48 per cent this year, its best performance since 2009, Bloomberg noted.

Among the top-gainers were CapitaLand, Southeast Asia’s biggest developer, and its retail property unit CapitaMalls Asia. CapitaMalls climbed 72 per cent in 2012, while its parent CapitaLand advanced 69 per cent.

Demand for homes and offices in the city state boosted home prices to a record in the third quarter of 2012. Singapore’s REITs that invest in offices and retail spaces posted the best returns globally this year, driven by acquisitions and higher rents.

Singapore’s property stocks, including REITs, have a market capitalisation of $126 billion and make up 22 per cent of the Straits Times index, according to a report by Merrill Lynch issued on December 13.

Gains in share prices in 2012 have also been driven by acquisitions and privatisation bids as well as the low-interest environment.

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