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Poll finds developers more optimistic

Property developers showed better confidence in the second quarter and expect the economic and political situations to improve in the second half of this year, according to a survey by the Real Estate Information Center (REIC).

Its housing developer sentiment index, covering 149 property companies, improved in the second quarter to 48.1, up from 42.2 in the first quarter. It was the second rise since the index hit its lowest of 36.3 in the last quarter of 2008.

Listed developers, making up 28 companies in the survey, expressed better sentiment about the second half while non-listed ones remained negative about the current economic and political situations.

Better sentiment was based on the view of improved local economic and political conditions as well as higher sales, and a more positive view on employment and investment.

However, the index for non-listed developers, though improved from the previous quarter, is still below the norm.

They believe that listed developers benefit more from government's tax incentives than non-listed firms do.