Sunday, August 17, 2008
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CapitaLand reported a 43.5% drop in its Q2 profit, City Developments a 15.1% drop and Keppel Land a 16.4% drop.
Most listed developers have warned that the global slowdown and weakening market could continue to hit their business in the Q3 and Q4 of 2008. Even the most upbeat are only 'cautiously optimistic'.
The Ministry of Trade and Industry's latest quarterly economic survey showed there are increasing signs that segments within services - including the retail trade and hotels - are showing slower growth.
Property stocks with exposure to those sectors - such as CapitaLand, CityDev and UOL Group, to name just a few - could see contributions from those divisions drop.
As for the residential market in Singaporee, a number of banks including Citigroup, Credit Sussie, Barclay have forecasted a drop in prices of as much as 40%; which could have a negative impact on some developers.
May also want to read:
History of Singapore Property 1960 to 2008
Buy or Not Buy: How to decide amid mixed market signals
When to Buy, When Not to by
Property Price Index Graph Plotter & Online Property Valuation
Your Property Investment Determines Your Financial Success in Your Life
HDB Resales: West Sees Highest Price Increase
Property Developers Profits Drop in Q2 2008: Developers see business hit in Q3 - Q4 2008
Home sales has dropped drastically to just about 2 thousands in the first half of 2008compared to more than 14 thousands sold in 2007. HIT by fewer home sales, lower revaluation gains from investment properties, drops in divestment gains - and even the stronger Singapore dollar - most property developers reported substantial drop in profits in Q2 2008.CapitaLand reported a 43.5% drop in its Q2 profit, City Developments a 15.1% drop and Keppel Land a 16.4% drop.
Most listed developers have warned that the global slowdown and weakening market could continue to hit their business in the Q3 and Q4 of 2008. Even the most upbeat are only 'cautiously optimistic'.
The Ministry of Trade and Industry's latest quarterly economic survey showed there are increasing signs that segments within services - including the retail trade and hotels - are showing slower growth.
Property stocks with exposure to those sectors - such as CapitaLand, CityDev and UOL Group, to name just a few - could see contributions from those divisions drop.
As for the residential market in Singaporee, a number of banks including Citigroup, Credit Sussie, Barclay have forecasted a drop in prices of as much as 40%; which could have a negative impact on some developers.
May also want to read:
History of Singapore Property 1960 to 2008
Buy or Not Buy: How to decide amid mixed market signals
When to Buy, When Not to by
Property Price Index Graph Plotter & Online Property Valuation
Your Property Investment Determines Your Financial Success in Your Life
HDB Resales: West Sees Highest Price Increase
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The blogger here has been affectionately named by close allies as "Smart Buyer" but really, he's not smart. Smart Buyer just believes that being prudent is smart. That's the essence of the message of this blog and Smart Buyer hopes it'll benefit other property buyers.
Smart Buyer :)