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Thread: Capitaland expects latest cooling measures to hold back buyers for 6 months

  1. #1
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    Default Capitaland expects latest cooling measures to hold back buyers for 6 months

    Ah Liew say buyers wait 6mths and will be back...

    http://www.channelnewsasia.com/stori...183012/1/.html

    Capitaland expects latest cooling measures to hold back buyers for 6 months
    By Lynda Hong | Posted: 14 February 2012 2250 hrs

    SINGAPORE : The latest property cooling measures may hold back buyers for another five to six months.

    This is the view of CapitaLand's President and CEO Liew Mun Leong after reporting the company's net profit, which shrank by 26 percent.

    In Singapore, the property giant raked in a whopping S$1.35 billion in total sales last year.

    This is for the sale of 844 units of private homes - slightly more than the previous year's sale of 800 units.

    But the developer expects lower sales of residential units in the short-term after the government introduced Additional Buyers' Stamp Duty (ABSD) in December to further cool the property market.

    Mr Liew says: "Developers are more sceptical - they are not launching so many projects. But the statistics show that buyers themselves have gone down 53 percent in terms of volume. Even secondary market has gone down 21 percent so the first two months demonstrate a drastic effect on buyer confidence."

    He adds that it will take at least another five to six months before buyers adjust their expectations and accept the new ABSD as the norm.

    Still, CapitaLand is confident of riding through the cooling measures possibly unscathed.

    While the recent cooling measures have affected home sales, CapitaLand said the prices may be reduced by just a small percentage, but there will not be any drastic reduction simply to move the inventory.

    CaptaLand adds that the prices of the upcoming Sky Habitat will only be determined a few days before launch.

    The largest property developer in Southeast Asia by market capitalisation posted a 20 percent decline in net profit to S$476.6 million for its fourth quarter from a restated S$596 million in the previous year.

    Meanwhile, annual net profit fell 26 percent to S$1.06 billion from the previous year.

    But that is slightly above analysts' expectations, after factoring in the impact of new accounting rules, lower residential sales and increased asset sales.

    Lock Mun Yee, Property Analyst, DBS Vickers, says: "CapitaLand is a well-diversified company across the Asia Pacific region, as well as across the various sub property sectors which would give them better balance. The group has planted a lot of seedlings, having committed S$11 billion worth of new investments last year, and this should bear fruit over the next few years."

    With some S$6 billion in cash in its coffers, CapitaLand has proposed a first and final dividend of 6 cents per share and a special dividend of 2 cents per share for the financial year 2011.

    This is an increase of 30 percent over the previous year.

    - CNA/ch

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    Capitaland is not only bullish, it is confirm riding a dragon. Super positive!

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    ikan bilis is offline i'm Buaya ! Girls BEWARE !!...
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    capitaland so big mouth... 6 months later give you another new CM then you know !!..

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    They are a developer - selling Condos - what do you want them to say?
    "Don't buy coz it's too expensive or wait till market correct by 10%"?

    They have alot of inventory in D'Leedon and Interlace alone ...why would they want to shoot themselves in the foot?

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    Quote Originally Posted by gn108
    They are a developer - selling Condos - what do you want them to say?
    "Don't buy coz it's too expensive or wait till market correct by 10%"?

    They have alot of inventory in D'Leedon and Interlace alone ...why would they want to shoot themselves in the foot?
    I think for Interlace it is almost sold out maybe at 80%...
    They will probably convert the remaining 20% into serviced apt just like REflections....

    As for D'leedon, lets see what happens to Sky Habitat, if it sells well, then D'leedon will follow suit, if it priced high then traffic will be diverted to dleedon as people will find dleedon a better value for money...

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    I last checked, Dleedon prices very expensive. Lower floor and smaller quantum units are already taken.

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    Quote Originally Posted by Rosy
    I last checked, Dleedon prices very expensive. Lower floor and smaller quantum units are already taken.
    Mr Liew say they are releasing new units soon mah...

    You must go donw showflat and tell the agent what you want, and once they release the new stack... then you must buy..

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    Quote Originally Posted by gn108
    They have a lot of inventory in D'Leedon and Interlace alone
    for all practical purpose, Interlace is sold well enough to cover all costs and profits. The original price is even "low" enough to warrant an increase for the remaining units (which are on the best "container", of which Liew himself bought a unit).

    for D'Leedon, the plan has never been to sell all at one time. CAPL has some integrity not to do all tiny "SOHOs" like FEO just to move units. However ABSD is hurting this project. But I think when the towers are up the volume will move. You should notice the 2 blocks launched are probably the worst blocks. The better ones are reserved for later. Liew is learning something from his Ion partner SHK.

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    what's the average asking psf at D'leedon now?

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    With comments like that they wanna build up momentum to their Sky Habitat launching Q2?

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    Manage market's expectation of what they think the sales figure in units will be mah. So if they outperform, it'll be a bonus.

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    Quote Originally Posted by kane
    Manage market's expectation of what they think the sales figure in units will be mah. So if they outperform, it'll be a bonus.
    Smart asses. At least they dont do stupider things like FEO...

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    They have to answer to public shareholders, FEO doesn't.

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    Quote Originally Posted by DaytonaSS
    Capitaland is not only bullish, it is confirm riding a dragon. Super positive!
    CEO too busy playing shares...thats why dont focus on property...

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    feo saboed liew, look at how many units feo moved in jan...buyers are NOT holding back

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    Quote Originally Posted by cartman
    feo saboed liew, look at how many units feo moved in jan...buyers are NOT holding back
    NO HORSE RUN...

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    Quote Originally Posted by kane
    They have to answer to public shareholders, FEO doesn't.
    nowadays only answer to poems.com.sg...

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