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It is developing 5 properties under the Cassia brand.
LUXURY hospitality firm Banyan Tree Hotels & Resorts has launched a new brand of serviced apartments, in its first foray into the extended-stay segment. The firm will develop five properties under the Cassia brand - in Phuket in Thailand, Bintan in Indonesia, Beruwala in Sri Lanka, the Gold Coast in Australia, and Lijiang in China - in conjunction with Banyan Tree Group's 20th anniversary.
December brings out the opportunity for property experts to delve into their Christmas stockings and bring out a crystal ball to predict what some of the key trends for the pending 12 months may be.
Whilst uncertainty remains over weather commercial tenant demand will bounce back or if shoppers will start buying anything other than groceries again, one thing that is certain is that the continued emergence of Asian capital into all commercial property markets across our major capital cities.
PROPERTY and hotel group City Developments Ltd (CDL) is traditionally viewed as a good proxy for the Singapore residential market. This has been positive for its shares and its reputation because of strong sales volumes and a price run-up for mass-market private homes in the past few years.
But with the government determined to prevent overheating in the housing sector - with new rules governing property loans in addition to a host of cooling measures rolled out in the past few years - and oversupply widely expected to kick in from next year, the company has been looking to alternatives. The $64,000 question is: can CDL adapt and deliver fast enough?
Europe’s real estate recovery gains momentum
After years of facing a brutal combination of global tail risks and local head winds, European real estate markets appear to be gathering steam in both volume and breadth. While the global property investment market is predicted to grow by around 6 percent this year, European real estate markets generally experienced a more robust year-on-year progress in 2013.
Tokyo is expected to be the strongest market in Asia for real estate investment next year, according to Emerging Trends in Real Estate Asia Pacifi 2014, a real estate forecast jointly published by ULI and PwC. After the introduction of dramatic economic reforms, transaction volume picked up significantly in 2013. Buying is expected to continue next year, as Tokyo is ranked second for development prospects for 2014.
Southeast Asia’s property markets are poised to see a surge in investment in 2014, according to a survey of 250 regional real estate developers and investors conducted by the Urban Land Institute. The 2014 “Emerging Trends in Real Estate: Asia-Pacific,” released today in Hong Kong, listed Manila as Asia’s top spot for residential-property development in the coming year. Jakarta came in third, Bangkok fifth and Ho Chi Minh City 10th.
More foreign projects are being launched in Singapore, and interest is strong
Overseas property continues to lure local investors with developers seeming to jet in every other weekend offering new launches.
DTZ Singapore research head Lee Lay Keng said about 107 London projects alone, including student accommodation blocks, have been brought to Singapore for sale by various agencies this year.
Consultancy Colliers International data shows an increasing number of Singapore investors have been buying London property over the past 12 months, about 25 per cent more than a year earlier.
Mr Julian Sedgwick of Savills Singapore says: "It is hard to track the number of different launches in Singapore but we have certainly seen an increase in the number of launches this year compared with last year."
New legislation that begins on Friday 1 November makes it easier for foreigners to invest in Mongolia and will increase confidence in the property market.
Overseas property buyers will now find it easier to invest in Mongolia, thanks to new legislation that comes into effect today (Friday 1 November).
The new law means that individuals no longer need government approval to invest in strategic industries.
The Strategic Entities Foreign Investment Law, which restricted investments in strategic sectors, by requiring government or parliamentary approval for transactions, is being repealed.
Property prices in Istanbul, Turkey's largest city, have risen substantially in the last three years, and are showing no signs of cooling.
Istanbul-based property consultants Universal21.com noted how the pace of property price growth in the city has quickened in recent months as both local and foreign investor interest in investing has increased.
In August this year, the price of a new home in the city had risen by an average 2.66 percent month-on-month, and by 13.80 percent year-on-year. This is more than 1 percent higher than Turkey’s national average of approximately 12 percent over the same period.
Overseas property buyers in Myanmar are now able to own apartments on the 6th floor or higher, according to an official draft of the Condominium Law which was published in the country last week.
The law also stipulates that foreign buyers can purchase up to 40 percent of apartments above the sixth floor in condominium buildings.
Speaking to local media, Capital Development General Manager U Soe Thiha Hlaing said that the property market will become more vibrant and would be bolstered by the provision to allow foreign ownership.
DEVELOPERS with substantial exposure to the Iskandar Malaysia region are expected to be the "worst hit" by recent property measures, as heftier taxes would deter short-term foreign purchasers who also account for a significant portion of residential sales in some areas, a research house has said.
At the same time, overseas developers are expected to be more cautious about land transactions as more punitive taxes could lead to higher landholding costs, said RHB Research.
CBRE data indicates that foreign buyers account for 54 per cent of total high-rise residential sales (by developers) in Nusajaya, and 39 per cent in Johor Baru and major suburbs.
Malaysia is seeing the spillover from Singapore’s four-year property boom and its subsequent efforts to cool the market. Prices of homes at Horizon Hills, where Metcalf now lives, have jumped almost threefold over the past five years amid a flurry of foreign buying, according to data from property broker Knight Frank LLP.
Now Malaysia is taking steps to prevent its own real estate inflation from emerging and appeasing locals who say they can no longer afford to own a home. In last month’s budget, Prime Minister Najib Razak doubled the minimum amount foreigners must spend on property and raised the capital gains tax to 30 percent on homes they sell within five years. The local governments of southern Johor state, where Iskandar is based, and Penang to the north, are considering additional tariffs on overseas buyers.
Canada, Australia, NZ and London projects see keen interest
SINGAPORE - Singaporean buyers are heading to overseas property markets in droves, hitting familiar favourites such as London and Australia, but also new spots such as Canada and New Zealand.
Indeed, Jones Lang LaSalle (JLL) has seen a spike of about 60 per cent in interest in London properties in the first five months of this year.
This, said the consultancy, is due to the launch of more iconic and well-located Zone 1 projects such as Battersea Power Station, 190 Strand, One Blackfriars, and Baltimore Tower.
