Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (Jan 7): Hong Leong IB Research has maintained its “Neutral” rating on the property sector and said the house price index (HPI)  growth normalised back to long-term growth rate of 5% after rising by CAGG of 12.6% from 2010 – 2014.

In a note today, the research house said leading indicators such as loan application remain sluggish, declining y-o-y basis for tenth straight month.

It said the Johor region remain oversupplied in near term with incoming supply and planned supply amounting to 47% of existing stock.

“KL and Selangor remain core market with more balanced demand and supply dynamics.

“Some property stocks are trading close to 5 years historical low of P/B band.

“Top picks: IOI Properties Group Bhd (BUY; TP: 2.77) and Matrix Concepts Holdings Bhd (BUY; TP:RM2.90),” it said.

      Print
      Text Size
      Share