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Ideas
China Property
In October the number of cities posting a drop in prices doubled from September. Property sales dropped 24% m-o-m and 14% from a year earlier.
Comment: Note in the market is that the bigger developers will be the one getting hurt due to their high inventory. Further, because of the related bank lending, banks may be affected as well. The chain effect may be of a greater extent and not easily quantified as of now
Singapore Property
The monthly Singapore Residential Price Index (SRPI) showed that prices of non-landed private homes climbed 0.9% in October 2011, reversing a 3-month trend of zero or negative growth.
Comment: Considering the situation with China property, one can reasonably expect our property market to be negatively affected as well. Would stay away from any property-related investments from developer stocks to REITs to physical property
Sources: Bloomberg, Reuters, WSJ, The Business Times, Analyst Reports, Company Announcements
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