Broker: OCBC Group Research
Date of Report: 28 July 2026

Excerpt from OCBC Group Research report

Report Summary

• Actionable BUY and HOLD Calls:
  • UOL Group (UOL SP): BUY. Target price: S\$12.87 (Last Close: S\$9.51)
  • City Developments Limited (CIT SP): HOLD. Target price: S\$10.40 (Last Close: S\$7.53)
• Key Ideas of the Day:
  • Removal of the 15-month wait-out period for private homeowners buying non-subsidised HDB resale flats, effective immediately. Private homeowners must still sell their private property within six months of purchasing an HDB resale flat.
  • Extension of ABSD (Additional Buyer’s Stamp Duty) timeline for property developers on large-scale en bloc sites. Completion and sales timelines extended for projects with ≥700 units, but limited market impact is expected.
  • No change in private residential property price growth forecast: +1% to +3% for 2026.
• Key Analysis and Implications:
  • The policy changes are targeted easing measures to enhance market flexibility, especially for retirees and families transitioning from private to public housing.
  • Expect a modest boost in HDB resale and private condominium transactions, especially for larger resale flats.
  • Rental demand may soften as immediate resale purchases become possible for private homeowners.
  • Developers are likely to remain selective on en bloc acquisitions; Government Land Sales (GLS) are still preferred for landbank replenishment.

Above is an excerpt from a report by OCBC Group Research. Clients of OCBC Group Research can access the full research report from the broker’s website: OCBC Group Research research website