14 Feb '12, 3pm

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

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

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 mo...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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