Despite gloomy property sector share price of some property companies could rise

PETALING JAYA: Despite the gloomy outlook for the property sector, CIMB Research said that the stock prices of some property companies could rise, “even if actual property sales continue to decline”.

CIMB upgraded the sector from “neutral” to “overweight” and said that the valuation of property stocks had fallen to a level not seen since the last global financial crisis.