Undervalued property developers: are they worth a second look?

A NUMBER of property developers are trading at undemanding valuations. With some sitting on land parcels, while others are poised to launch residential projects, could they be worth another look?

While Singapore continues to work at taming the pandemic, the residential property market has proven fairly resilient, thanks partly to low interest rates and demand from HDB upgraders, among other factors. In fact, with unsold inventory dwindling, some developers are already looking to replenish their landbank.

In March, new private home sales doubled month-on-month to 1,296 units, with F17's 99-year leasehold project Midtown Modern at Tan Quee Lan Street emerging among the top-selling projects for the month as about two-thirds of the 558 units were snapped up.