I’m no expert on property prices or the value of properties in Singapore but what has been consistent in the media are the following headlines,
- 21 million-dollar HDB resale flats sold last month – The Straits Times
- Surge in number of HDB flats, condo units leased in March, rents also rise: SRX data – Today Online
- Single buyer buys all 20 units of ultra-luxe Orchard condo for S$293 million – Mothership
Based on the headlines above, it is clear that the property market is currently bullish. The situation is such that demand exceeds supply, causing prices to rise.
Sector bullishness can cause the stock price of companies operating within that sector to rise but when one stock rises faster and exponentially higher than others, I would say that this company is clearly a winner and definitely deserves some attention.
This article will analyse Propnex (SGX: OYY) and some thoughts on their business model. I’ll briefly touch on their fundamentals, technicals and my thoughts on where the stock is headed