Slowing markets, still-high financing costs cloud outlook for Singapore property companies

PROFIT warnings have come thick and fast since December from Singapore-listed property companies ahead of the start of reporting season last week.

However, cost pressures and current market weakness are not expected to hurt too much, said investment analysts, though numbers may be less than stellar.

In December last year, CapitaLand Investment (CLI) said it expects a “significant decrease in its net profit for FY23 compared to the previous year”, flagging fair value losses on its investment properties as the main reason for the decline.