CIMB Research is bullish on the performance of the properties sector for 2011 after hitting a record transaction of RM107.44 billion last year.
It said the potential re-rating catalysts for the sector are newsflow on landbanking, strong sales from most developers and accelerating earning growth.
'We remain bullish on the property sector, especially the residential properties, as house prices are likely to trend higher and volumes should scale new highs,' it said in a research note today.
CIMB Research said the price direction was determined by major cycles and negative external events such as the Asian and global financial crisis.
It said the cycle was currently in the property sector's favour.
Hence, the research house maintained its 'overweight' call on the
sector for 2011, with Mah Sing Group Bhd topping its list as the best-performing property stock year-to-date. - Bernama
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