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 Sime Darby Property (5288)(RM1.10) (SIMEPROP) is my best pick for the Property sector - many research houses have had their coverages on this counter, and I reckon that this counter continues to show improving results and numbers. SIMEPROP achieved over RM 1bil in sales from March to April, in conjunction with the Government's Home Ownership Campaign, with over 1,100 units sold. This is part of its Primetime 8 marketing campaign that ended on 30th April 2019, and this marks an average of over 75% take up rates throughout the period.

The buyers flocked to SIMEPROP's landed and high rise home launches in Bandar Bukit Raja, Elmina, Serenia City, Bandar Universiti Pagoh, The Glades at Putra Heights as well as KL East in Melawati. During this period, SIMEPROP launched 7 new projects, as well as two new projects in Subang Jaya City Centre (SJCC) and Putra Heights. They even launched their online platform that enables customers to have a say in building their homes with the developer.

So overall, SIMEPROP remains my top pick for the Property Sector - their group's healthy balance sheet and its massive land bank are amongst the tops in the sector.
Furthermore, yesterday's lowering of the OPR from 3.25% to 3% by BNM will also likely result in banks lowering their indicative lending rates - whereby every 25bp reduction in borrowing rates would reduce the monthly instalment for mortgages by around 1-3%. This also means the homebuyers' purchasing power will be increased a bit, and make the RM 300k-500k more attractive.

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