Second-liner property stocks now in play

SMALLER property developers and even some construction players have been the biggest beneficiaries on the stock market following Monday's official estimates suggesting that the property market is finally turning around after four years.

Several of them, such as Oxley Holdings, Tuan Sing, Chip Eng Seng and Wing Tai Holdings, have even hit multi-year highs this week. From last Friday, Oxley has gained 14.7 per cent, closing at S$0.625 on Thursday at a three-year high. Tuan Sing has risen 8 per cent to close at a two-year high of S$0.405.

This stands in stark contrast to most of the big boys in the property sector which have hardly moved as much, mostly improving just 0-2 per cent in share price. Only CapitaLand outpeformed its big-cap peers with a 3.4 per cent increase this week.