SINGAPORE (Oct 2): CGS-CIMB Research is keeping its “neutral” stance on property developers amid slowing sales at new launches, following a slew of new property cooling measures introduced in July to curb rising home prices.

“As property stocks’ performance has historically shown a high correlation to take-up rates, the slower sell-through rates mean property stocks are likely to trade range bound in the near term,” says analyst Lock Mun Yee in a Monday report.

According to Lock, ongoing projects marketed over the past 2-3 months post the July cooling measures saw a slower take-up rate. But, she adds, these projects continued to garner consistent sales traction.

Read more on The Edge Singapore.