Property giant CapitaLand recorded slower pre-sales in Singapore and China during the second quarter of this year, resulting from policy headwinds.
According to Barclays, home sales for the developer fell to 139 units or S$300 million from 544 units (S$1.3 billion) in Q1 and 202 units (S$379 million) in Q2 last year. Over in China, the sales volume dropped to 736 units from 955 in the previous quarter and 812 units in Q2 2012.
Sales in Q2 this year “came mainly from The Loft in Chengdu, The Metropolis in Kunshan, Dolce Vita in Guangzhou and iPark in Shenzhen”, noted Barclays.
Despite the quarterly declines, home sales for the first half of 2013 remained strong in both countries. Singapore saw a 246 percent rise year-on-year to 683 units (S$1.6 billion) in 1H 2013, while China posted a 43 percent gain to 1,691 units.
Barclays added that “China development earnings (are) to be back-loaded in 2H 2013 as 1,900 units will be handed over then”.
Nikki De Guzman, Junior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email nikki@propertyguru.com.sg
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