Singapore developer, CapitaLand Residential expects prices for new residential properties to stabilize over the next six months. As foreigners buying homes had slowed down due to the ABSD introduced in Dec 2011, the developer mentioned that more cooling measures may not be necessary in the near future.
The developer has sold 259 new homes in H1 2012 like Sky Habitat, The Interlace and d’Leedon and expects more sales to follow as more units will be released for these projects.
Foreigners and companies accounted for 7% of the private residential market in H1 2012. It seems our government has done a good job to curb foreign buyers from overheating the private home demand.
As Singapore is fundamental strong economically, developers sold about 12,000 new residential properties in H1 2012 which is 48% higher than the same period of 2011.
CapitaLand is still looking to build up its residential land bank in Singapore and also look at developing or acquiring more malls in China. Malaysia is also on its radar for good investment opportunities.
CapitaLand's Q2 2012 net profit is $385.9 million from a sales revenue of $862.5 million while the quarter earnings per share stands at 9.1 cents with a net asset value per share at $3.54.
16 Aug 2012