Singapore's Keppel Land said on Wednesday third-quarter net profit fell 43.5 percent as property sales were hurt by global financial turmoil.

Keppel Land, Singapore's third largest developer,earned S$46.2 million ($30.84 million) in the three months ending September, compared with S$81.8 million a year earlier.

There were no forecasts available for the third quarter but analysts expect the firm to report a 64 percent fall in full-year net profit to S$278 million, according to the average estimate of 16 analysts.

The company said the property market recovery could take time as the financial crisis weighs on sentiment, but added it will look out for acquisitions both in Singapore and overseas.

"Faced with slower growth and weaker market sentiment, home prices and residential demand are expected to ease further until market visibility improves," it said in a statement.

Shares of Keppel Land have fallen 75 percent since the start of the year on concerns about the health of Singapore's housing market