Tag Archives: Singapore Property Market

Pricier units making up bigger share of home sales

Posted on 1 Aug 2009 | Comments Off on Pricier units making up bigger share of home sales

REFLECTING larger buying appetites and more mid- to high-end launches in the market, the proportion of private homes sold at over $1.5 million has risen by six percentage points in two months.

Analysing 10,583 caveats captured by the Urban Redevelopment Authority’s (URA) Realis system from January to June, property consultancy DTZ found that 18 per cent lodged were for apartments in this price range.

From January to April, private homes costing more than $1.5 million accounted for a smaller 12 per cent of the 4,401 caveats lodged. There has been a ’spillover of buying momentum from the mass market to the mid and upper-tiers’, said DTZ head of South-east Asia research Chua Chor Hoon.

Chesterton Suntec International head of research and consultancy Colin Tan also said that more centrally located properties were introduced. ‘By virtue of the location, prices will go up.’ Continue reading →

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Posted in New Launches, Property Market / Real Estate, Property Price

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CapitaLand in the red

Posted on 30 Jul 2009 | Comments Off on CapitaLand in the red

SINGAPORE – SINGAPORE property developer CapitaLand said Thursday it slipped into the red during the second quarter with a net loss of S$156.92 million.

This compared with a profit of S$515.2 million in the same quarter last year.

CapitaLand said the June quarter loss was due to revaluations and impairment provisions the property developer took during the period as valuations declined amid the ongoing global economic slump.

Excluding revaluations and impairment provisions, the property developer said it would have earned a net profit of S$124 million.

‘The weaker market valuations of real estate properties are an expected outcome of the ongoing financial crisis,’ said president and chief executive Liew Mun Leong in a statement.

CapitaLand was also affected by weaker revenues which slumped almost 28 per cent to S$591.14 million from a year ago partly because of lower sales in Singapore and Australia, the developer said in the statement.

‘Although some stability has been restored in the financial markets, the outlook for 2009 remains uncertain,’ said chairman Richard Hu. Continue reading →

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Posted in Developers

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