Investors who are looking for shares in Singapore-listed stocks may find them in the property sectors.
According to analysts, some counters in these sectors are undervalued and offer good upside potential. ”Property will remain one of the main targets of foreign funds looking for laggard sectors,” said Najeeb Jarhom, research head at AmFraser Securities.
Mr. Najeeb said in a report that the big four property stocks – CapitaLand, Keppel Land, United Overseas Land and City Developments – have not caught up with the Straits Times Index’s recovery and still have a long way to go to match the rise of the index.
He estimated that the STI has recovered to above the 62-percent mark between the 2007 high of 3,831 and last year’s low of 1,455.
While Keppel Land has hit a record high following the crisis, CapitaLand has the most upside potential.