Keppel Land residential sales boooming in China but slumping in Singapore

China sales quadrupled in one quarter.

In China, Keppel Land (KPLD) sold 1,130 homes in 3Q13, quadrupled the 290 units sold in 3Q12, bringing YTD sales to 3,070 units worth RMB4bn (319,000sqm), vs 970 units last year worth RMB828mn (95,000sqm), reports Barclays Research.

The bulk came from The Botanica, Chengdu and The Springdale, Shanghai in terms of volume while Shanghai’s prime 8 Park Avenue achieved high sales value (RMB800mn across 84 units ie. RMB9.5mn per unit), the research firm added.

This in contrast with KPLD's Singapore sales at 30% associate, Corals at Keppel Bay, which according to Barclays has slowed down, with 160 units (44% of total 366 units) sold to date; while recently launched The Glades sold just 80 units (11% of total 726 units) since its September launch.