Singapore Reit – BT

DMG Research said on Thursday that February's property sales numbers 'surprised on the upside', with a total of 2,413 units sold by developers in the month.

Analysts see value diminishing in the sector with revised net asset value discount on developers narrowing.

'We also remain less sanguine as stronger than expected continued price appreciation may in turn raise policy risks, leading to sustained sector re-rating unlikely,' said DMG analysts.

The research house remains neutral on developers but reiterates its sell recommendation on SC Global due to low asset turnover and high leverage.

Additionally, suburban retail Reits such as CapitaMall Trust and Frasers Centrepoint Trust are now looked upon more favourably.