CapitaLand's Singapore home sales plunged 31% to $300m

Even sales in China slowed down.

According to Barclays, there was a slowdown in 2Q13 for presales in Singapore and China on policy headwind but 1H13 still up strong. Singapore sold 139 homes for S$300mn (down from 1Q13’s 544 units S$1.3bn and 2Q12’s 202 units S$379mn), brings 1H13 to 683 units for S$1.6bn, +243% y/y. 

China home sales slowed down to 736 units for RMB1.3bn (down from 1Q13’s 955 units RMB1.9bn and 2Q12’s 812 units RMB1.8bn), brings 1H13 to 1,691 units for RMB3.2bn, +43% y/y.

Here's more from Barclays:

The sales in 2Q13 came mainly from The Loft in Chengdu, The Metropolis in Kunshan, Dolce Vita in Guangzhou and iPark in Shenzhen.  

In 2Q 2013, over 1,000 units were handed over to home buyers, mainly from The Loft (457 units), The Pinnacle in Shanghai (293 units) and Beaufort in Beijing (219 units). Including 230 units handed over in 1Q 2013, CL China delivered a total of 1,353 units in 1H 2013.

We expect China development earnings to be backloaded in 2H13 as 1,900 units will be handed over then.