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Developers' FY14 results belie home sales softness

Performances were helped by "locked in" sales and one-time gains

Published Tue, Mar 3, 2015 · 09:50 PM
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Singapore

THE mixed crop of results produced by Singapore property developers in FY2014 belies the underlying softness of domestic home sales.

Although performances have largely met market expectations, analysts attributed this to two factors.

One was that developers were reaping the benefit of "locked in" sales and income for projects sold one to two years ago, progressively recognising them on a percentage-of-completion basis.

Some developers were also helped by one-off gains, mainly through divestments of assets. For instance, CapitaL…

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