CapitaLand's Singapore home sales soared 164%

China sales rose 58%.

According to Maybank Kim Eng, in 1H13, CapitaLand sold 164% and 58% more homes in Singapore and China respectively than a year ago. 

They expect the sales momentum in China to be sustained by demand from first-time buyers and upgraders in 2H13. In Singapore, it is preparing to launch the 124-unit Marine Point (est. SGD1,800psf) and the 694-unit project at Bishan St 14 (est. SGD1,500psf).

Here's more from Maybank Kim Eng:

Management however conceded that some moderation in prices and sales volume can be expected in the Singapore residential market in the coming months.

Australand stays, for now. Following its strategic review, Australand remains a key investment, underpinned by its stable recurring income.

While still an attractive investment, we see little synergy with the rest of the CapitaLand group and we think that management could revisit the potential divestment should a compelling offer come along in the future.