SINGAPORE (June 12): Property stocks could still enjoy further upside despite a 16.8% year-to-date increase in the ST Real Estate Index, says OCBC in its mid-year outlook for 2017.

During this period, the Straits Times Index also have had a positive start, posting a 12.3% rise. Based on price trends, it seems that bank stocks were top contributors to the benchmark index.

However, upon further and deeper inspection it has been the real estate sector that has experienced the best cycle, with property companies such as GLP and UOL outperforming, says Carmen Lee, head of OCBC Investment Research.

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