Here’s how smart investors benefit from the eco revolution of luxury travel

Palawan is a staple of
Travel + Leisure
’s World Best Islands list having finished consecutively at the top. It’s easy to see why people love it. The island has it all from beautiful beaches to lush mountains. There’s even an underground river. And sites marked as UNESCO World Heritage.

With ease of travel restrictions, tourists are coming back to heavenly places in Palawan and the numbers keep rising. Philippines has achieved its year-end target of foreign tourist arrivals in the country, with more than two months to go before 2022 ended. Reports suggest that El Nido attracted one-third of these tourists, making Philippines Southeast Asia’s fastest-growing tourism industry and transforming El Nido into a lucrative hospitality investment option driven by its strong tourism growth and its status as the most sought-after ‘back to nature’ experience destination.

That is what makes Explorar Treehouses El Nido such a rare opportunity. The development is your chance to own a 5-Star breathtaking pool villa on one of the world’s best islands. What’s more, it’s backed by a turnkey investment program that offers an eight percent net yearly return during the first five years of operations; and a secure exit with capital gains after five years or a profit-sharing model for you to earn a long term robust passive income.

You’ll also be able to stay at the world class resort for up to 30 days annually. But before we learn more about what makes
The Explorar Treehouses El Nido
 so special, let’s explore the potential of El Nido.

Why invest in Palawan real estate?

Philippine Department of Tourism data showed there were 8.26 million foreign arrivals in 2019, more than a 15 percent increase from the previous year. An additional 60 million trips are made by locals annually, an important figure to note. Of course, COVID-19 dealt a significant blow to these numbers. However, there is reason to believe a quick turnaround is likely given what is being seen elsewhere globally. The most recent stats shared by Department of Tourism and economic growth numbers (highest in Southeast Asia) is a proof of it.

Focusing on Palawan, it has been one of the country’s most popular destinations among both overseas and domestic tourists. Having recorded notable growth over the past decade, the Philippine government has invested in infrastructure to attract even more travelers.

In 2017, a new passenger terminal was opened at Puerto Princesa International Airport to help the region welcome more arrivals. Additionally, smaller airports can be found all over the island with many of these offering flights to Metro Manila.

Meanwhile, work on several ports across Palawan is either ongoing or in the planning stages. Some of these will be able to accommodate cruise ships, others will handle passenger ferries. Most are expected to support cargo operations in some form.

Introducing El Nido

El Nido is arguably Palawan’s most popular spot. Located on the island’s northern tip, it is a picturesque retreat that boasts legendary scuba diving, stunning beaches and awe-inspiring limestone cliffs. The region is perhaps best known for lagoons that are bustling with underwater sights, including world famous coral reefs.

The town is served by El Nido Airport which has direct connections with Metro Manila and Cebu. A new airport “Ceasar Lim Rodriguez Airport” within 45mins distance from the project site is opening soon. In 2020, the Philippine Ports Authority (PPA) opened a new port in El Nido that can accommodate roll-on/roll-off vessels and other larger cargo ships. This facility was designed to support tourism in the region.

An exclusive property investment opportunity in El Nido

Despite all of its wonderful sights and potential for growth, there aren’t many property investment opportunities in El Nido or Palawan as a whole. And when one does become available, it sells out in short order.

That brings us to The Explorar Treehouses El Nido. The 5-star, luxury eco-resort is just 500m from beach and situated on an exquisite piece of land surrounded by lush mountain terrain, which overlooks azure waters, touching pristine white sand beaches. This sustainability award-winner 69-Teehouse Villa Estate is designed by renewed designers and creating a buzz worldwide to stay in Palawan when it opens in 2025.

The fully integrated eco-resort boasts world-class amenities, including spa & wellness center, “The Exchange” a social space to mingle, tailored experiences, as well as absolute beach access and stunning ocean views. It is also only one of a few tourism-focused real estate investment opportunities currently available on the island.

The developer behind The Explorar Treehouses El Nido has released the final collection of villas, selling 6 of these premium properties in a record time. That means time is running out to be among the privileged few to own an exquisite home here.

Each villa is supported by a turnkey investment program that will ensure owners are able to get the most out of their property. For the first five years, an eight percent net yearly return is guaranteed. After that, investors can opt to participate in a 60/40 profit-sharing scheme which could produce up to double-digit yields. Returns are distributed quarterly to a designated bank account of your choice.

As for the residences themselves, they come fully furnished and fitted to standards set by LEED system, under the supervision of CBRE and the developer Eureka Resorts with 30+ years of combined experience. To sum it up It is a true ultra-luxurious hospitality experience offered by Philippines leading luxury real estate investment company El Nido Beach. Each treehouse features a spacious terrace, 360-degree views, private plunge pool and a chance to experience world-class amenities in raw nature.

This isn’t simply an investment though. It is also your holiday home. Owners are entitled to stay at the resort for up to 30 days each year. And that is something you will most likely want to take advantage of.

These residencies are selling out fast. Don’t miss this rare opportunity to invest in breathtaking cliffside villas located on one of the world’s best islands.
Click here to reserve your residence
.


Here’s how virtual offices are helping businesses unlock the potential of Malacca

Regus virtual offices in Malacca's Metra Square are the ideal base for those looking to enter the local market

From its 15
th
 century origins as a trading post to the recent launch of the Melaka Waterfront Economic Zone, Malacca has long supported the ambitions of entrepreneurs from around the world.

And while the city, and Malaysia as a whole, move forward with digitalization efforts, the office sector has lagged. The pandemic has only served to exacerbate these issues. Entrepreneurs looking for support have often found themselves shut out of the market.

Until recently, that is. Understanding the unique needs of the business community as well as what Malacca can offer, developer Sheng Tai International and Regus’ parent company IWG reached an agreement to open three centers in the city’s Metra Square complex with the first opening in 2021.

The focus here is a bit different from traditional Regus hubs. It has been designed as a base for members using Regus’ virtual office service. Those requiring a casual, drop-in workspace have something tailored for that purpose. Additionally, businesses or entrepreneurs from outside the region can enjoy a physical presence in Malacca without needing to travel or relocate immediately.

Sheng Tai International Founder, Dato’ Leong Sir Ley, believes this type of setup is the way forward. Not only does it allow for cross-border collaboration and growth into new markets, but it also empowers locals who have taken up new ventures during the pandemic.

“Some of them have done so well that they want to start their own new business. It’s too much to expect these fledgling entrepreneurs to immediately invest a lot of money to rent a place, renovate, to hire staff, when business is not there yet,” she explains. “The best initial start is to get a virtual office, to keep the costs low and to try to work out whether the business is going to be a success before making bigger commitments.”

Learn more about a virtual office plan in Malacca

Working with Regus virtual offices in Malaysia

It is not simply Malacca where Regus virtual offices are helping. Across Malaysia, entrepreneurs, SMEs and other businesses are leveraging this setup to help them build for future success.

Regus virtual offices can be found in the country’s key business hubs, including Kuala Lumpur, Selangor, Penang, Johor Bahru and Sabah to name a few. And if your needs change or you require something more permanent, that can easily be taken care of at Regus as well

See available Regus offices in Malaysia


High-end competition hots up

Amid domestic and external headwinds, the Malaysian economy continued to moderate during the second half of last year according to the latest research from real estate firm Knight Frank, recording a growth of 4.7 percent in the third quarter of 2015 versus 4.9 percent in the second quarter, driven mainly by private sector demand.

For the whole year of 2015, the country’s economy was expected to expand by 4.5 percent to 5.5 percent (2014: 6.0 percent).

Private consumption, which grew by 8.8 percent in 1Q 2015 (4Q 2014: 7.6 percent) decelerated to 6.4 percent in 2Q 2015. Going forward, the real estate company said it is expected to moderate further as households continue to be concerned over the state of the economy amid uncertainties arising from implementation of the Goods & Services Tax (GST), further weakening of the local currency and softer labour market conditions.

Meanwhile, private investment which expanded by 11.7 percent in 1Q 2015 (4Q 2014: 11.1 percent) contracted sharply to 3.9 percent in 2Q 2015 as business sentiment weakened.

Headline inflation averaged at 2.9 percent in June and July (2Q 2015: 2.2 percent) reflecting the effects of higher domestic fuel prices and the impact of the GST. Moving forward it is expected to peak during early 2016 before moderating for the remainder of the year. The unemployment rate increased marginally to 3.2 percent in July from 3.1 percent during the preceding month.

SUPPLY & DEMAND

The cumulative supply of high-end condominiums in Kuala Lumpur stands at 42,749 units following the completion of 3,139 units in the second half of 2015. In terms of distribution, Mont’ Kiara / Sri Hartamas contributed about 48.0 percent (1,508 units), followed by KL City with 35.5 percent (1,113 units). The remaining units are located in Ampang Hilir / U-Thant area (518 units or 16.5 percent).

Notable completions included Face Platinum Suites (Phase 1), Mirage Residence and Crest Sultan Ismail in KL City; Concerto and Verdana in North Kiara; DC Residency in Damansara Heights; and Damai 88, A Residency D’Suria, 9 Madge and Brunsfield Residences @ U-Thant in the Ampang Hilir / U-Thant area.

Another seven projects, scheduled for completion by the first half of 2016, will contribute some 1,998 units to the existing stock. The bulk of this future supply is located in KL City (1,591 units), followed by the localities of KL Sentral and Mont’ Kiara with 160 units and 118 units respectively.

The projects include Pavilion Banyan Tree Signatures, Le Nouvel, Vortex Suites, The RitzCarlton Residences Kuala Lumpur, KL Trillion, The Residences at The St. Regis Kuala Lumpur and One Kiara (Tower A). The impending completions of Pavilion Banyan Tree Signatures, The Ritz Carlton Residences Kuala Lumpur and The Residences at The St. Regis Kuala Lumpur, leveraging off the quality of international-class hotel brands, marks a new era of luxury living in Kuala Lumpur.

Despite the sluggish high end residential market, several notable projects were pre-viewed and launched during this half year.

The latest debut of branded residences is YOO8 by Kempinski, forming part of the RM 5.4 billion 8 Conlay integrated mixed-use project that also comprises retail and hotel components. Tower A, featuring 564 units sized from 700 sq ft to 1,300 sq ft, was launched in November. Despite its new benchmark pricing, averaging at RM 3,200 per sq ft, it has reportedly achieved 70 percent bookings. Tower B with 468 units is slated for launch by 1H 2016. Designed by Pritzker prize winner, Jean Nouvel, the 195-unit Le Nouvel KLCC by Wing Tai Asia is a ‘build-then-sell’ project. The indicative pricing for the luxury apartments with typical sizing of 1,810 sq ft to 2,832 sq ft is from RM 2,200 per sq ft upwards. The project is expected to be launched next year.

On October 1, UDA Land Development Sdn Bhd unveiled its latest project known as Anggun Residences. Located within  walking distance from the Medan Tuanku monorail station, Anggun Residences offered 384 units of serviced apartments atop a three-storey retail podium, priced from RM 1,300 per sq ft.

Bina Puri Holdings Bhd, the developer for the Opus Residences, announced all the units for Opus Tower 2 will be equipped with Calvin Klein furniture and Gorenje kitchen appliances. The units, sized from 700 sq ft to 1,100 sq ft, are priced from RM 1,500 to RM 1,600 per sq ft. In the locality of Ampang Hilir / U-Thant, KSL Group’s latest project known as 18 Madge is designed by Veritas Architects. The luxury low-density condominium development features 48 units with typical sizing from 2,234 sq ft to 4,207 sq ft and two penthouses sized at 13,913 sq ft and 14,803 sq ft. Selling prices start from RM 2.7 million.

Agile Mont’ Kiara, designed by renowned Singaporean architectural firm, DP Architects, opened its 44-storey Tower H for sale in October. The 171 partially-furnished units are priced from RM 900 to RM 950 per sq ft on average. To date, the tower has reportedly achieved circa 50 percent bookings.

Upcoming notable projects with residential components include 8 Kia Peng by I-Bhd; Stonor 3 – a joint-venture project between Tan & Tan Developments Berhad and Mitsubishi Jisho Residence; Casa Kiara 3 in Mont’Kiara (288 units with GDV of RM 336 million) by Sunway Property; Phase 1 of The Belfield by Tradewinds Corporation (a high-rise residences centered on a premium retail avenue); a residential block within the on-going KL Gateway development by Suez Capital; the Bukit Bintang City Centre (BBCC) – a JV project between Eco World Development Group Bhd, UDA Holdings Bhd and the EPF; and Phase 1 of Pavilion Damansara Heights by Impian Ekspresi of Pavilion Group and the Canada Pension Plan Investment Board (CPPIB) with guaranteed rental returns.

OUTLOOK

Knight Frank reported that market sentiment for the high-end condominium segment remains cautious going forward, as it continues to be impacted by the various cooling measures, softening demand and a slowdown in the economy. Some of the projects scheduled for launch by 1H 2016 may be deferred.

The impending completions of new projects amid a weak market is expected to heighten competition in the rental market, both in KL City and its fringe locations.

The competitive high-end condominium market is also driving developers to greater level of product innovation and marketing strategies. Knight Frank noted there has been an increased trend of projects offering leaseback arrangements and pool management programmes with guaranteed rental returns to boost sales and attract potential buyers and investors looking for long-term investment in terms of rental returns and potential capital appreciation.

Kuala Lumpur also continues to witness the entry of more branded residences as it moves towards becoming a world-class city by 2020, supported by major investments in its public transportation system. The on-going and upcoming infrastructure works that include the Light Rail Transit (LRT) extension lines and Mass Rail Transit (MRT) lines will promote more transit-oriented developments (TOD) along the transportation routes.


Own a high-end villa on Koh Samui customized to your needs

It is easy to find a high-end villa on Koh Samui. However, finding one customized to your unique needs and wants is much harder. This was not lost on the developers of Emerald Bayview. In fact, it inspired them to empower villa owners with the freedom to create the home of their dreams.

“Most Samui projects look the same. We want to be different because clients have different tastes. We want to offer buyers a level of customization that allows them to create a home where they can truly feel comfortable,” Jonathan Diluret, Premium Properties Samui Sales Director, states.

He adds that buyers are free to create whatever they wish within the frame of the plot. The renders and designs of
Emerald Bayview
 are an example of what is possible, not what is available.

“We offer several villa designs. There is a
three-bedroom villa
 with double-high ceilings and a
four-bedroom villa

with independent access for each bedroom for the ones more interested in the rental aspect
 as well. But our design offerings are a starting point. Anything is possible. The renders we provide are examples or can be used as a template. Nothing about your villa is definitive, not even the layout,” Jonathan details.

Premium Properties Samui is a full-service real estate company that has its own construction team. This gives the developer full control of the costs and greater freedom on projects like Emerald Bayview which is then passed on to owners. Layout, finishings and designs can all be tailored to suit your needs. That means you’ll be buying a high-end villa on Koh Samui customized to you and no one else.

The Emerald Bayview customization process

You can choose your own finishings or the developer can provide you with samples of what has been done

Customizing an Emerald Bayview villa starts with finalizing your desired layout. This is done prior to signing the purchase agreement. If you aren’t sure what you want, Premium Properties Samui can provide numerous examples of completed residences. And if you have an idea but want to see what it will look like, their
in-house
 architect is able to bring the concept to life.

“We are happy to take clients to previous projects just to show them how their villa can look and feel like. We also have an office where our architect can make modifications to potential designs, so they can easily be visualized,” Jonathan explains.

Once the purchase contract has been signed and construction is underway, it’s time to select finishings and the kitchen. Jonathan Diluret notes that homebuyers can either choose from a catalog or propose what they wish to use. From there, the developer will then find the equivalent with their supplier. However, potential customization goes much deeper than this.

“In the purchase contract, we include a bill of quantity that summarizes every feature in the home with their prices. Buyers have an allocated budget for each item which they can play with to upgrade features or adjust areas as they see fit,” Jonathan says.

You can’t beat that view

For example, let’s say bathroom flooring is a low priority but you want high-end countertops. All you have to do is choose bathroom tiling that comes in under budget and then put the leftover amount towards your countertops. Jonathan adds upgrades are possible with the client only paying the difference in price.

The entire process is fully transparent from budgeting to building. Those in Samui are free to see how construction is going in person while buyers abroad can check in on their villa via video,
thanks to our onsite CCTVs
.

“Buyers who can’t be in Samui are provided with access to our CCTV which they can use to monitor construction from wherever they are in the world. We want them to be involved in the process because this will be their home. Transparency is key to accomplishing that,” Jonathan points out.

Your villa, your investment

A look at Emerald Bayview from above

No matter how you create your
Emerald Bayview villa
, it can be an investment property as well as a holiday home. This is something that separates the project from most other developments on Koh Samui that require you to purchase a specific furniture package in order for it to be rented out while you’re away.

“We work with buyers to help them choose furniture that allows their villa to be rental ready. But they are not required to buy anything and have total flexibility in creating their space. We don’t create any restraints,” Jonathan says.

The project has a management team handling check-in and check-out along with maintenance. This ensures villa owners can use their property for however long they wish and then take advantage of rental returns during the remainder of the year. That, along with many other factors, makes Emerald Bayview an attractive investment.

“The rental returns are good. But there is more to investment than that alone. Our villas start at a very low price point. We have our own construction team who controls every aspect of the cost involved which allows us to offer a higher quality at lower prices,” Jonathan states. “Clients can make between 20 and 30 percent profit on capital appreciation alone from the time they purchase it to when construction is complete.”

Speaking of price, everything is included when you buy an Emerald Bayview villa, even legal fees. All you have to do is sign the documents and move into your new residence. It’s an easy, hassle-free experience that is rare to find.

“Some developers don’t like handling the legal side of the transactions, but we really value our clients. Our mission is to take care of them from A to Z. No matter what they need, we want to be there for them. The buying process can have a lot of uncertainty. We work with transparency so they will always know what is going on,” Jonathan concludes.

To learn more about owning a high-end villa on Koh Samui,
click here
.
Additional details on Emerald Bayview can be found here
.


Hike in loan applications

The rise in loan applications suggest that the market is taking a turn for the better.

There are clear indicators that suggest that the property market in Malaysia is taking an upwards turn. The
construction industry is growing.
 It is forecast that the
luxury market is set for a revival
. Now those working in the industry are more positive than ever before for the future. This has been supplemented by recent news of a spike in loan applications.

According to PPC International, a property consultant, there was a rise in the number of applications by 19 percent for the first quarter of 2017. Additionally according to Bank Negara, Malaysian’s central bank, there has also been a three percent increase in loan approvals year-on-year.

These figures suggest that there is a renewed sense of consumer confidence in the market as demand increases. Developers have been adapting to market conditions and putting attractive packages on the table for investors. Enticing them in with marketing and finance draws such as smaller deposits and promotional gifts. Property purchasers are responding accordingly with the vast choices that are available to them. However this is only applies to new projects whilst the second hand market faces challenges related to financing.

Like in any slowing market, there is a real need for property to retain its value. This is applicable across the board from residential, retail and commercial. Management needs to be of the highest level to retain tenants and to maintain its worth. This fact has been noted by experts but the expansion of the mass transit networks is expected to be a key factor in driving the market going forward. This is despite a weak ringgit and slump in oil prices.

Driven by supply and demand, it is anticipated that there will be less new projects launched this year. A result of developers taking a cautious approach due to a drop in demand in 2015. This should turn attention to the second hand market where transaction numbers could possibly rise. A sector that historically has been ignored in favour of the newer schemes made available.


Hike on the horizon

An impending increase for foreigners should spur a flurry of activity.

Foreign investors snapping up properties anywhere in the world causes a stir. Cited as being the reason for rising values, many countries are putting obstacles in place to restrict their purchasing power. Malaysia is no different with investors
snapping up property in Penang
 being a particularly hot topic.

It has been announced this week that the government are considering raising the minimum price set for international investors who purchase property in Malaysia. The depreciating ringgit is the catalyst for this according to a cabinet minister. Malaysian’s weakening currency has enticed more overseas investors keen to profit from the strength of the their own tender.

Housing minister, Noh Omar, has cause for concern that locals are getting pushed out of the market with the influx of foreign investors. By raising the bar, this will ensure that Malaysian’s residents will not be competing against overseas purchasers.

Over the last twenty years the Malaysian government have raised this minimum price on several occasions. However it is down to the individual 13 states to set the figure. Generally non-residents can purchase properties priced over MYR 1 million. As part of the initiative the government want to either increase the floor price to MYR 1 million or the alternative option is to introduce a minimum price in US dollars. This would apply to all overseas buyers.

With an impending hike on the cards and low values that Malaysia is currently experiencing, more foreign investors are likely to buy property. Plus with a weakening ringgit there really is
no better time
 than now to invest in property.

Have a browse at Dot Property’s full list of suitable properties to buy in Malaysia online
here.


Hilton opens its largest Asia Pacific hotel in Singapore

With borders reopening and travel resuming across the region, those heading to Singapore will be able to enjoy an experience unlike any other. Hilton has opened its largest hotel in Asia Pacific with the debut of Hilton Singapore Orchard.

“Today we celebrate a key milestone with the opening of our largest hotel in Asia Pacific. Hilton Singapore Orchard is a fantastic showcase of our flagship brand and places us in a strong position to usher in a new era of travel,” Hilton President Alan Watts explained. “Hilton Singapore Orchard will truly be top of mind for both leisure and business guests as it delivers exceptional experiences supported by Hilton’s renowned hospitality.”

Situated along the always popular Orchard Road, the majestic Hilton Singapore Orchard has been carefully crafted to create a hospitality experience unmatched in the renowned shopping district. This was made possible through a vibrant blend of contemporary design, innovative dining experiences and extensive meeting spaces.

Related:

5 things you don’t know about Orchard Road

The 1,080-room hotel features countless tributes to Singapore’s colonial history and agricultural heritage. For example, botanical references can be found throughout the property’s artwork and interiors. This has been paired with modern conveniences that make life easy for guests on the go.

“With its strategic location, stylish design, diverse array of culinary concepts and bespoke events capabilities, Hilton Singapore Orchard will be a beacon for the brand. We look forward to delivering exceptional experiences complemented by Hilton’s signature hospitality,” Alexandra Jaritz, Hilton Senior Vice president, Brand Management, Asia Pacific.

Hilton Singapore Orchard was developed by OUE Limited, a leading real estate firm in the city state. It has several notable properties in its portfolio, including OUE Twin Peaks, Crowne Plaza Changi Airport and One Raffles Place,
the latter being one of Singapore’s tallest buildings
.

The opening of the new hotel coincides with loosening travel restrictions in Southeast Asia.
Singapore has established Vaccinated Travel Lanes with 21 countries that permit quarantine-free visits
 while Thailand, the Philippines, Indonesia and Vietnam have various policies in place that allow for vaccinated persons to enter.

Read More:
Flight bookings pickup as borders reopen in Southeast Asia


Historic day for Country Garden Diamond City

Five-star living has arrived in Malaysia. Country Garden Diamond City, a 258-acre project in Semenyih, held a handover ceremony for the bungalows and link house units at Plot A of the development. Residents checked out their completed homes and also partook in a lucky draw at the historic event.

The project is developed jointly by Chinese homebuilder Country Garden and Mayland Group. The event marked the first overseas handover for Country Garden, one of mainland’s largest developers. The firm boasts a market capitalization of more than USD 8 billion and has over 200 townhouse projects worldwide.

Country Garden Diamond City has Spanish flair

In addition to featuring five-star living, Country Garden Diamond City features a unique Spanish design that has proven to be a hit with buyers. The spacious units feature Mediterranean architecture. There are three unique designs at Phase 1, all named after famous Spanish cities. Meanwhile, there are two unit types at Phase 2. Both styles are multi-storey link houses. At the event, the firm revealed the first phase is nearly sold out.

The project offers residents a world of comfort, convenience and tranquil living with numerous amenities including an infinity pool, private theatre, bowling alley, billiard room, spa, gymnasium and world-class tennis courts found at Country Garden Diamond City.

The handover ceremony was attended by Country Garden Diamond City’s General Manager Cheng Meng, Joint Venture Managing Director Chai Keng Wai, and Marketing Manager Ye Lang Heng. Country Garden Diamond City’s official mascot Nino D. and special guest, Wong Chui Ling were also on hand to lead the festivities. For more information on Country Garden Diamond City visit
http://www.cgdiamondcity.com.my


Historic Dot Property Philippines Awards 2019 celebrates country’s best developers, projects and agents

The third annual Dot Property Philippines Awards 2019 was the biggest, grandest and most exciting in the program’s history with an exclusive presentation ceremony and the awarding of the very first People’s Choice Award for “Project of the Year” among the highlights.

The Peninsula Manila welcomed real estate’s best with more than 20 awards given out. SM Development Corporation was one of the evening’s stars winning a total of three awards this year including Best Developer Philippines, the top honor at the Dot Property Philippines Awards 2019.

Anticipation was greatest for the announcement of the very first People’s Choice Award for “Project of the Year” with a total of 11 projects vying for to the opportunity to be named the best in the eyes of the public. Park Cascades from Alveo Land received the most votes and with the trophy for People’s Choice Award for “Project of the Year”.

That was one of four awards Alveo Land took home. In the developer categories, the company was named Best Developer Metro Manila while Park Cascades won Best Mid-rise Development in addition to People’s Choice Award for “Project of the Year”. Alveo Land was also presented with Best Office Development for Tryne Enterprise Plaza.

Robinsons Land Corporation took home two awards for their outstanding projects under the Robinsons Communities brand. This marks the second consecutive year Robinsons Communities was honored at the Dot Property Philippines Awards 2019.

It was also a great night for Cebu-based Grand Land who won a Dot Property Philippines Award for the third consecutive year. The firm was presented with Best Developer Cebu along with Best Investment Development for Amani Grand Citygate Davao.

Full list of Dot Property Philippines Awards 2019 developer winners:

Mr. Jose Mari Banzon (center right) and Ms. Jan Catherine Sy (center left) accept the award for Best Developer Philippines at the Dot Property Philippines Awards 2019

Best Developer Philippines – SM Development Corporation

Best Developer Metro Manila – Alveo Land Corp.

Best Developer South Luzon – SM Development Corporation

Best Developer Davao – SM Development Corporation

Best Developer Cebu – Grand Land Inc.

This year saw a number of leading developers across multiple sectors earn honours at the Dot Property Philippines Awards 2019. Filinvest and DATEM Homes were just a few of the developers who won for their projects.

People’s Choice Award for “Project of the Year”

Park Cascades from Alveo Land

Full list of Dot Property Philippines Awards 2019 project winners:

Park Cascades from Alveo Land was presented with the first ever People’s Choice Award for “Project of the Year” in addition to Best Mid-Rise Development

Best Office Development – Tryne Enterprise Plaza by Alveo Land Corp.

Best Mid-rise Development – Park Cascades by Alveo Land Corp.

Best Mixed-Use Development – Activa by Filinvest Land Inc.

Best Value for Money Development – SYNC by Robinsons Corporation

Best High Rise Condominium – Cirrus by Robinsons Corporation

Best Mid-Range Condominium – Horizons East Ortigas by DATEM Homes Inc

Best Investment Development – Amani Grand Citygate Davao by Grand Land Inc.

Best Condo Architectural Design – Urban Hive Palms by DATEM Homes Inc

The Box Brownie Special Recognition Award for Online Marketing was a special honour given out for the first time this year. Santos Knight Frank was the recipient of this special award. The Dot Property Philippines Awards 2019 also brought with it the awards for Philippines’ Best Real Estate Agencies. A total of eight agencies were bestowed with this honour in 2019.

Box Brownie Special Recognition Award for Online Marketing

Santos Knight Frank

Full list of Philippines’ Best Real Estate Agencies 2019

Boholana Realty Brokerage & Appraisal Co.

27C Realty

Santos Knight Frank

Horizontal Vertical Properties Realty, Inc.

Pinnacle Real Estate Consulting Services, Inc.

Top Realty Corporation

“We are excited to be finally be hosting an event in the Philippines. The Dot Property Philippines Awards 2019 was an amazing night with the country’s best in real estate joining us for a wonderful celebration. As the country’s largest online marketplace, it was important for us to create a truly unforgettable ceremony,”Adam Sutcliffe, Dot Property Director, Events and International Markets, says. “We would like to congratulate all of this year’s winners for their hard work and commitment to excellence and we are already looking forward to next year.”

The Dot Property Philippines Awards 2019 would like to thank Leading Real Estate Companies of the World® and BoxBrownie.com for their support of this year’s event.

Now in its third year, the Dot Property Philippines Awards celebrates the best in local real estate by honouring the country’s best developers, projects and companies that contribute to the sector. It is part of the Dot Property Awards series that also includes events in Vietnam and Thailand.

For more information on the Dot Property Philippines Awards 2019, please visit www.dotproperty.com.ph


HK and China: 2016 forecast

The continuous supply of new homes and the potential United States interest rate hike are expected to slow residential price growth in Hong Kong during 2016, while the housing market in mainland China is expected to improve further under favourable government policies.

At a recent press conference in Hong Kong, real estate firm Knight Frank presented its forecasts for the important Asian property markets for 2016.

In mainland China, the residential market started to improve from the first quarter of 2015 following Government stimulus measures being introduced. During October 2015, 27 cities recorded month-on-month home price increases compared with zero just one year ago.

Home prices in first-tier cities in particular recorded strong growth, with Shenzhen seeing the fastest year-on-year home price increase in October, followed by Shanghai, Beijing and Guangzhou.

David Ji, Director, Head of Research & Consultancy, Greater China at Knight Frank, is optimistic about the outlook for the Mainland Chinese property market as housing inventory lowers and completion levels stabilise.

Meanwhile the best-performing cities are expected to be among the first-tier cities. Cities along the “One Belt One Road” route, in particular, are also likely to see promising development benefitting from policy support. He said he expected mass residential prices in first-tier cities to increase by between 5 percent and 8 percent during 2016 due to solid demand, while mass residential prices in second-tier cities will increase by between 1 percent and 4 percent.

In Hong Kong, while Government’s cooling measures are still in place a potential U.S. interest-rate hike and abundant housing supply in the pipeline have prompted potential buyers to adopt a wait-and-see approach. This has led to subdued property sales transaction in recent months. Knight Frank expects total home sales volume for 2015 to reach around 55,000, down 14 percent from 2014.

Only one major property market measure was introduced in 2015, namely the lowering of LTV ratio for self-use homes under HK$ 7 million in February. With a lifted down-payment ratio, even more homebuyers have shifted to the low-price segment of the market, below HK$ 10 million per unit, took up about 70percent of total sales. In terms of the size of transacted units, more than 70 percent of units sold in the past year were below 600 sq ft.

A number of buyers have also shifted to the primary market, attracted by competitive prices and preferential packages offered by developers. Therefore, the proportion of primary deals reached 27 percent during the first nine months of 2015, compared with only 10 percent in 2010.

Thomas Lam, Senior Director, Head of Valuation & Consultancy, Knight Frank expects the trend to continue in 2016.

While local buyers are moving to the low-price segment, mainland buyers, in contrast, shifted towards the super-luxury segment of the market despite the on-going Buyers Stamp Duty. During the first ten months of 2015, buyers of four out of the top 10 luxury deals were from mainland China.

Looking ahead, Knight Frank said there will be around 110,000 new homes supplied from 2016 to 2020, representing about 22,000 units per year on average. The supply will focus on the New Territories, followed by Kowloon, while Hong Kong Island (about 10 percent) will see limited supply. In the New Territories, the main body of the supply will cluster in Yuen Long and Tseung Kwan O, while in Kowloon, the supply will concentrate in Kai Tak.


Hobart: Most affordable in Oz

The Tasmanian city of Hobart has been highlighted as Australia’s most affordable capital city according to data from CoreLogic RP Data.

Research analyst Cameron Kusher said:  “When talking about affordable prices for capital city housing, Hobart is the location of choice and the city where property prices are much lower than in mainland capitals.”

To highlight this Kusher’s analysis looked at the selling prices for the bottom decile of homes over the three months to January 2016. A decile simply divides a group into ten equal parts.  What this means is if there were 20 sales over the three months lined up with the sales up from lowest to highest, the second price is taken as a representation of the most affordable segment of the market.

Over the three months to January 2016, the 10th percentile price of a house across the combined capital cities was AUD$ 315,000 and the 10th percentile unit price was AUD$ 255,000. Over the same period, the 10th percentile house price across the combined regional markets was AUD$ 175,000 compared to AUD$ 180,000 for units. This again highlights that housing tends to be much more affordable outside of the capital cities.

Hobart has the lowest 10th percentile house and unit prices of all capital cities at AUD$ 205,000 and AUD$ 167,000 respectively.

Darwin was the second most affordable for houses at AUD$ 229,000 while Adelaide is in second place for units with a price of AUD$ 222,000.

Kusher added: “At the other end of the spectrum, the 10th percentile house price is highest in Sydney and Darwin (both AUD$ 430,000) and the unit price is highest in Sydney at AUD$ 360,000.

“The more affordable nature of Hobart housing is evident when you look at the most affordable lists for each city, particularly for houses.

“The five most affordable suburbs for houses in Hobart are all more affordable than the most affordable suburbs in each other capital city. The data also highlights that housing costs in Sydney, Darwin and Canberra tend to be more expensive than the remaining capital cities.

While this latest affordable housing data shows myriad options are available in most capital cities however, Kusher said these tend to be located on the outskirts of the capital cities.

“Of course Hobart, Adelaide and Brisbane tend to have much more affordable housing options relative to the other capital cities.  Meanwhile, regional markets often offer up even more affordable housing alternatives,” he said.


Holiday energy savings tips that will help keep your electric bill low

Switching to LED lights for the Christmas tree can lead to big savings on your next energy bill

Sometimes it’s okay to be a Scrooge. And with the holiday season now upon us, being stingy on electricity can mean more money for gifts, food and other seasonal favourites. Keeping all of those lights, not the mention the usual appliances, running can add up between now and the new year.

In the holiday spirit, we’ve come up with some holiday energy savings tips designed to help you cut costs on power. Doing even a few of these will ensure you don’t receive a proverbial lump of coal when your electric bill comes.

4 holiday energy savings tips

1) Turn off the holiday lights when you leave

If no one is at home, there is no need to leave the tree lit up. Not only does it cost you money, but it can also be dangerous if the lights overheat or something malfunctions. The same idea applies when it is time to go to bed. Santa will still be able to find your home regardless of if your tree was lit in early December.

2) Replace old lights with LED ones

Of all the holiday energy savings tips, this one can provide the most savings. When you replace your old Christmas lights with LED ones, the savings add up fast. That’s because LED holiday lights use 90 percent less electricity than incandescent lighting. Additionally, new lights can bring some extra flair to your home this holiday season.

3) Unplug what you aren’t using

Chances are you have a phone charger at home that is likely plugged into the socket with nothing currently being charged. There are probably lots of other appliances and gadgets also plugged in that aren’t being used. Even when these are not switched on, the vampire electronics can suck power and run up your energy bill.

Of course, it’s not practical to go around and unplug every single electronic device before leaving. That’s why it is smart to use power strips. The handy tool makes it easy to unplug multiple appliances at once. And be sure to unplug all chargers if you aren’t using them.

4) Cut down on the AC

It may not be a white Christmas with snow, but the temperature does drop in November and December. This is an opportunity to use the air conditioner less and instead rely on fans or open windows. Be sure the check the weather outside during the evenings and nights to see if you really need to use the AC.


Home-buying trends for now

If you’re in the market for a new house this year, now can be considered in many Asian markets as the perfect time to start your planning. Space requirements such as bedrooms, bathrooms and square footage are essential, but a house is more than just shelter, it’s your home, and the great ones not only have everything you need, but everything you want.

“Each family lives in their home differently,” says Beazer Homes Senior Creative Manager Michael Phillips.

“Some buyers prefer a private dining room, while others want an open-concept kitchen with a more casual eating area. Where one buyer might prefer an owner’s suite on the main level, others may want all their bedrooms on the upper level.”

Although every home buyer’s needs are unique, the market is often dictated by common trends. To better understand your own buying preferences and to see if you’re aligned with others in the real estate marketplace, take a look at these five home-buying trends.

Function over aesthetics.

When you think kitchen trends, you probably think of design features like granite countertops and stainless steel appliances. While both these options remain popular and are common in new construction, surveys by the National Association of Realtors and the National Association of Home Builders (NAHB) in the United States found that buyers were extremely interested in functional attributes like new appliances, eat-in layouts, walk-in pantries and double sinks.

Living rooms are no longer a must.

Given today’s diverse home-buying population, the formal living room is becoming less prevalent. “Many buyers would rather use traditional living room square footage in a new way,” said Phillips. “We’re seeing families using the living room as a home office or choosing to forgo the space altogether in exchange for extra square footage in other areas of the home.”

New is number one.

According to the NAHB, more than half of surveyed buyers want to purchase a new home. It can be a challenge for buyers to find everything they desire in a resale home, and because renovations are often costly and time consuming, it’s hard to deny the appeal of purchasing a brand-new home that is move-in ready.

Let there be (energy-efficient) light.

Home buyers have coveted homes that make good use of natural light for years and that trend is continuing during 2016. In addition to large windows, the NAHB research shows homeowners are putting an increased emphasis on the energy savings that accompany the installation of high-performance windows.

Make it your own.

Personalising a new home is easier and more affordable than ever before, Whether you want a kitchen for entertaining or a breakfast nook for family dining, an office space instead of an extra bedroom, you choose … and many buildings won’t charge you for selecting the best layout for your lifestyle.

Start your preparation today, it is never too early to start preparing for shopping for a new home. The more work you do ahead of time, the more time you can spend exploring the market. So start your research now and you’ll be moved into the home of your dreams before you know it.

Image: Beazer Homes’ Choice Plans programme allows home buyers to personalise the most frequently used living spaces in their home according to their needs.


Home is for your pets too

Moving into a new home is exciting – for the humans in the family. It can be less comfortable for pets who need time to adjust to a new environment, learn their way around and discover the best nap spots in their new home.

As a loving pet parent, you want every member of your family to be as happy and comfortable as possible. Here are some tips to make your home more welcoming to your four-legged family members:

Convenient dining

Your furry friend will need his own space for meals – unless you don’t mind him begging at the table when you eat. Make sure he has a bowl that is appropriate for his size and always clean it between meals. Vets recommend feeding pets only once or twice a day, so you’ll want to stow away bowls when they’re not in use. Many homes can be customised with a pet friendly feature – pet dish drawers that allow you to conceal feeding dishes when they’re not needed, and slide the drawer open when it’s meal time. It’s a great way to keep your pet’s dining area near yours but also out of the way.

Hang-out space

Dogs and cats spend a lot of their day napping and relaxing, so be sure to provide a variety of spaces for your pet to just hang out – with you or on his own.
Clayton Homes
 is one example of a company that builds pet-friendly spots into many of their home models, including window seats and hideaway cubbies where pets can nap in peace. Sunrooms are also great for both pets and their humans to enjoy the feeling of al-fresco dining while remaining securely inside. Sun worshipping pets can also catch some rays while hanging out.

Helpful grooming stations

While many dogs enjoy a bath now and then, the process can be messy at home. Including a pet wash station with a hand-held hose in the mudroom ensures you’ll be able to clean up your dirty pup before he drags dirt through the house. Make sure you outfit your wash station with an ample supply of soft, absorbent towels, dog shampoo and all the grooming tools you’ll need to keep your pup looking great.

Safe and happy outdoors

Many pets enjoy a good romp outdoors and you want your companion to be able to safely play in his outdoor environment. Start by adding a fence if you don’t already have one. Choose one with vertical slats or rails close enough together that a pet can’t slip through, and high enough that he or she can’t jump over it. Next, be sure your pet has plenty of shady spots where he can hide, nap or just chill. Consider adding an outdoor pet fountain so pets always have access to fresh water, and a pet door to allow your dog or cat to easily come and go from your backyard.

Cosmetic concerns

Unless you have a rare hairless breed you probably deal with pet hair daily. As you’re decorating your new home, remember choosing carpeting close in colour to your pet’s coat will make shed hair less visible. You should also keep in mind the size of your dog as you’re choosing hard flooring. Sturdy laminates will hold up better if you have large dogs in the house, while smaller dogs and cats may have trouble getting traction on vinyl or hardwood floors.

“When you’re buying a home, it’s important that you consider every member of the family, and pets are a huge part of our families,” says Clayton’s Chief Executive Officer Kevin Clayton.

“Choosing to include pet-friendly features enhances not only a pet’s home life, but creates a better functioning environment for the homeowners too.”

www.claytonhomes.com


Hong Kong bounces back

Real estate firm Knight Frank noted improved activity in all sectors of the Hong Kong property market during March in its latest Hong Kong Monthly research report.

The Grade ‘A’ office leasing market witnessed robust relocation activities, while residential sales in rebounded, with more units launched in the primary market and more deals closed in the secondary market. Prices, however, continued to fall. Meanwhile the drop in retail sales and visitor arrivals continued to put pressure on retail property rents.

Office

The lack of available space continued to limit Grade ‘A’ office leasing activities in core business areas last month. To avoid the high office rents in Central, some firms with a long presence in the area relocated to non-core areas.

The Kowloon Grade ‘A ‘office leasing market saw a number of relocation deals involving insurance and sourcing companies. Office rents in Kowloon East, however, have been under pressure from the increasing supply coming on line.

Despite the economic uncertainties in Hong Kong and the Mainland, David Ji, Director, Head of Research and Consultancy, Greater China, expected office rents on Hong Kong Island to increase by 5 percet this year given extremely low vacancy rates. Office rents in decentralised areas, however, could drop by 5percent in 2016 given abundant supply in the pipeline.

Residential

According to the Land Registry in March, residential sales volume rebounded 45 percent month-on-month from the lowest level in 25 years, reaching 17,106 sales.

With potential buyers expecting increasing supply and a further drop in home prices, residential sales are expected to fall to around 50,000 units this year. Although luxury home prices overall are expected to drop 5 percent this year, prices of super-luxury houses and apartments should remain firm. Mass-market prices could drop by up to 10 percent during 2016, the real estate firm predicted.

Retail

Amid deteriorating visitor number and retail sales, Hong Kong’s retail industry is seeking new elements and new angles to rebalance business.

The art atmosphere has been well-cultivated in the city, particularly in the SoHo and NoHo neighbourhoods, meanwhile landlords are also bringing elements of art into their malls.

One successful example is K11 Hong Kong. Another is H Queen’s, a gallery-featured commercial building at 80 Queen’s Road Central which is scheduled to open mid-2017, providing an interesting alternative to the city’s shopping scene.

Looking ahead the retail market is likely to continue going through a period of readjustment to reduce its dependency on Mainland visitors spending. As rents drop, it is becoming more affordable for lifestyle brands to take up space in core shopping areas.


MM2H attracts Hong Kong buyers looking for affordable property

With home prices in HK unaffordable, many investors are eyeing property in Southeast Asia

Hong Kong real estate investors continue to be active globally, acquiring properties everywhere from London to Sydney. In fact, the only place they aren’t buying real estate is at home where prices are the most expensive in the world and predicted to climb even higher in 2018,
according to Cushman & Wakefield
.

“Homes in Hong Kong are too expensive to afford, so people are looking overseas for alternative investments,”
Neo Cheung Wing-tat, CEO of Convoy International Property Consulting, told the Nikkei Asian Review
. “The ease of finding information online, an increase in banks offering loans for rental or investment properties and measures to curb speculative investment in Hong Kong housing are all contributing to the trend.”

The housing markets in UK, Australia, Japan and Canada have primarily benefited from the soaring domestic prices, but a few developers from Southeast Asia are now capitalising on the demand from Hong Kong buyers for overseas real estate. Some Hong Kongers considering a property purchase in Southeast Asia use it as a second home or retirement property that can be let out when not in use while others purchase units strictly for investment purposes.

Having spent a total of USD 6.6 billion on overseas property during the first half of 2017 alone, Hong Kong real estate investors are a group developers will continue to target. Here are key areas in Southeast Asia that Hong Kong real estate investors are targeting.

Malaysia

Malaysia has become an attractive place among retirees from Hong Kong because of the
Malaysia My Second Home (MM2H) programme
. Those who purchase a property and can support themselves without seeking employment are able to obtain a 10-year, multiple-entry visa. Family members are also eligible for the visa which has made MM2H desirable for those in Hong Kong wanting a hassle-free retirement haven.

Thailand

Places like Phuket have been popular with Hong Kong holiday home seekers for decades. However,
a growing number of investors are now investigating opportunities in Bangkok.
 Research from CBRE showed that 85 projects by 35 developers from Thailand were marketed to Hong Kong buyers last year with even more expected in 2018. As long as the price remains competitive, Hong Kong investors prefer property in the THB 3 million (USD 95,300) to THB 10 million range (USD 318,00), demand will be strong.

Vietnam

Solely focusing on the investment benefits,
Hong Kong buyers became the top buyers of Ho Chi Minh City property in 2017
. With both strong demand and rising home prices, Vietnam could continue to see an influx of investment from Hong Kong buyers as rules regarding foreign ownership of property in the country become clearer.

Singapore

Could Hong Kong buyers flock to Singapore? Given their preference for political stability and risk aversion, it’s possible Singaporean real estate could be in demand. Home prices continue to recover and the Bank of Singapore (BoS) is already
predicting foreign demand for Singapore residential property market to return in 2018
.

According to BOS head of strategy Eli Lee, even with a 15 percent stamp duty for foreign buyers still in effect, the Singaporean market may represent value when compared to other markets popular with Hong Kong property investors such as Canada and Australia. Both countries experienced rapid home price growth in the past few years and may be set for a slide similar to what took place in Singapore.


Hong Kong ‘severely unaffordable’

Hong Kong’s residential property market has been ranked as the world’s least affordable in an annual survey.

The Median Multiple of 19.0 was the highest recorded (least affordable) in the 12 years of the
Demographia International Housing Affordability Survey
.

The survey rates middle-income housing affordability using the “Median Multiple.” The Median Multiple is widely used for evaluating urban markets, and has been recommended by the World Bank and the United Nations, and is used by the Joint Center for Housing Studies, Harvard University.

The Median Multiple and other similar price-to-income multiples (housing affordability multiples) are used to compare housing affordability between markets by the Organisation for Economic Cooperation and Development, the International Monetary Fund,
The Economist
 and other organisations.

More elaborate indicators, which mix housing affordability and mortgage affordability can mask the structural elements of house pricing are often not well understood outside the financial sector. Moreover, they provide only a “snapshot,” because interest rates can vary over the term of a mortgage; however the price paid for the house does not. If house prices double or triple relative to incomes, as has occurred in many severely unaffordable markets, mortgage payments become much higher.

Historically, the Median Multiple has been remarkably similar in Australia, Canada, Ireland, New Zealand, the United Kingdom and the United States, with median house prices from 2.0 to 3.0 times median household incomes. However, in recent decades, house prices have been decoupled from this relationship in a number of markets, such as Vancouver, Sydney, San Francisco, London, Auckland and others.

Sydney was named as the second least affordable major market, with a Median Multiple of 12.2. Sydney’s increase of 2.4 points from its 9.8 Median Multiple in 2014 is the largest year-to-year deterioration ever indicated in the 12 years of the survey.

Vancouver was the third least affordable major market with a Median Multiple of 10.8. Auckland, Melbourne and San Jose all had Median Multiples of 9.7, and they were followed by San Francisco at 9.4, and London (Greater London Authority), at 8.5. Two other markets had Median Multiples of 8.0 or above, including San Diego and Los Angeles, both at 8.1.

The Demographia list of the least affordable metropolitan areas is largely echoed by UBS, the international financial services company headquartered in Switzerland.

The five metropolitan areas ranked as most vulnerable to risk from a real estate bubble in the
UBS Global Real Estate Bubble Index
 are each among the eight least unaffordable markets in the Demographia survey (London, Hong Kong, Sydney, Vancouver and San Francisco).

Overall, among the 367 markets, there were 89 affordable markets, 75 in the United States, nine in Canada, three in Ireland and two in Australia. There were 112 moderately unaffordable markets, 90 in the United States, 14 in Canada, four in Australia, two in the United Kingdom and one each in Japan and Ireland. There were 74 seriously unaffordable markets and 92 severely unaffordable markets.

Australia had 33 severely unaffordable markets, followed by the United States with 29 and the United Kingdom with 17. New Zealand and Canada each had six severely unaffordable markets, while China’s one market (Hong Kong) was also severely unaffordable.

http://www.demographia.com/dhi.pdf


Hongkong Land continues to focus on JV projects in Southeast Asia

Mandani Bay in Cebu is part of a joint venture project between Hongkong Land and Taft Properties

Hongkong Land has been one of the most active overseas developers in Southeast Asia in recent years. Its Singapore subsidiary, MCL Land, is a well-known residential developer in the city state. However, most of the firm’s efforts have involved joint venture projects with local homebuilders.

For example, the firm has partnered with Robinsons Land Corporation and Ayala Land in Metro Manila while it is working with Taft Properties in Cebu. Meanwhile, the homebuilder has linked up with several Thailand-based developers for various condominium and housing projects in Bangkok.

One of Hongkong Land’s first forays into the Thai capital was The ESSE Sukhumvit 36 which was a joint venture with Singha Estate. That development was completed in December 2020.

It is also teaming up with Noble Development on The Embassy at Wireless, a superluxury condominium in the city center. Looking beyond condos, Hongkong Land and
Property Perfect
 are set to launch a pair of housing projects in Bangkok next year.

Looking at Hongkong Land in the Philippines

Hongkong Land’s most high-profile development in the Philippines is The Velaris Residences, a joint venture project with Robinsons Land Corporation that launched in 2020. The luxury condominium features stunning designs with innovative smarthome technology to create one of the best living experiences in the Philippines.

“The Philippine property market is one of the most exciting markets in Asia, and we are delighted to be part of it and to bring the innovations and design excellence that Hongkong Land is known for. Through our partnership with Robinsons Land Corporation, we have no doubt that we can duplicate our global successes in the Philippines through The Velaris Residences,”
Hongkong Land Chief Executive, Robert Wong, told the Manila Bulletin
.

Related:

Robinsons Land teams up with Hongkong Land for new luxury project

Hongkong Land has also partnered with Taft Properties on a 20-hectare, mixed-use waterfront development in the Cebu region. Other projects include Roxas Triangle Towers which is a joint venture with Ayala Land.


Hongkong Land optimistic about Philippine property market outlook

Mandani Bay in Cebu is part of a joint venture project between Hongkong Land and Taft Properties

Hongkong Land has been very active across Southeast Asia with the Philippines being one of the homebuilder’s key markets. Work continues on several joint venture development in Metro Manila and Cebu. And despite the economic impact of the COVID-19 pandemic, the developer is optimistic regarding the Philippine property market outlook.

“With the Philippines being one of the fastest growing economies in Southeast Asia prior to the pandemic, Hongkong Land remains confident in the real estate market of the country amid the challenges posed by the COVID-19 pandemic,”
Director and Head of Development Property of Hongkong Land, South Asia, Tan Wee Hsien, told the Cebu Daily News
.

Among the firm’s most notable developments is The Velaris Residences, a joint venture project with Robinsons Land Corporation.
The 45-storey residential tower began pre-selling earlier in 2020 with buyers attracted to the unique living experience the project offers
.

Meanwhile, work is nearly finished on The Two Roxas Triangle, a luxury residential project in Makati. The condominium is being developed jointly with Ayala Land Premier and units are already being turned over to residents.

In Cebu, Hongkong Land has partnered with Taft Properties on a 20-hectare, mixed-use waterfront development in Mandaue City. The second phase of the project, Mandani Bay, is under construction with three residential towers and one office tower expected to be completed in the first quarter of 2021.

The developer has reported a strong market response and take up at Mandani Bay with plans already underway to launch the third phase next year.

For Hongkong Land, the Philippine property market outlook is positive with things expected to remain steady before bouncing back bigger and stronger once the economy recovers. The developer also revealed that it is actively looking for investment opportunities in the Philippines.

In addition to its joint venture developments in the Philippines, Hongkong Land also has similar projects in Bangkok, Jakarta and Singapore.


Hotel sector to draw US$8.5 bn

A report by JLL Hotels & Hospitality Group has revealed that the Asia-Pacific region is expected to be home to a significant US$ 8.5 billion in hotel investment during 2016.

Scott Hetherington, Chief Executive Officer of JLL Hotels & Hospitality, Asia, said: “In 2015, the headlines featured blockbuster acquisitions of high-profile, gateway market hotels by investors from mainland China, Hong Kong and the Middle East.

“We also saw a high volume of hotel deals in Japan, with increasing interest from foreign investors. This year we expect transaction activity across the region will slow somewhat, with a likely to shift to secondary markets in Southeast Asia and the Indian Ocean.”

During 2015 more than 33,000 hotel rooms changed hands in Asia-Pacific, according to the real estate firm. Leading the pack in terms of investment activity was Japan, followed by Australia and Hong Kong.

The blockbuster transactions that characterised as the year included the sale of the InterContinental Hong Kong (pictured) for US$ 938 million and the Westin Sydney for AUD 445 million, as well as an increasing weight of money coming from investment and private equity funds.

Cross border investment accounted for half of all capital flows in the region on deals above US$5 million, with Chinese investors increasing their stakes in Australia and Japan.

Looking ahead, JLL’s Hotel Investment Outlook report identifies seven trends to look out for in Asia-Pacific during 2016:

Continued consolidation among hotel brands

Last year saw Marriott purchase Starwood and Accor acquire the Fairmont hotels group. Both these deals will impact the operating landscape in Asia-Pacific and globally, with more consolidation expected in the coming year.

Mark Wynne Smith, Global CEO for JLL’s Hotels & Hospitality Group, said: “Public markets are rewarding growth, creating a strong case for hotel brand consolidation. Hotel brands are on a never-ending quest to bolster their pipeline and with the natural attrition in properties and limits to new supply growth, the surest way is often by acquiring operators with strategic management or franchise contracts.”

Spotlight on Japan

Japan saw the highest deal volumes in the region during 2015, a trend that is expected to continue in 2016. This will comprise a substantial number of domestic REITs in addition to interest from U.S. Private Equity funds and Southeast Asian families. There is likely to be increased demand from Chinese investors looking to purchase hotels in second tier Japanese markets through 2016.

Investment into Chinese hotels

Mainland China has started to see circa. US$ 1 billion in hotel trades annually, and this level is expected to continue, if not increase, during 2016. While Chinese investors acquiring hotels continue to make headlines, quality assets listed within the Mainland are sure to attract interest.

Australia will remain competitive

Craig Collins, CEO, JLL Hotels & Hospitality, Australasia, noted: “2015 saw further growth in offshore interest in Australian hotel assets and we expect this to continue during 2016. Following several trophy asset transactions occurring in the past two years, interest remains strong for prime offerings across Australia’s core markets.

“With a widely expected scarcity of available stock moving forward, competition will be incredibly strong during 2016 for opportunities to enter the coveted Sydney and Melbourne markets in particular.”

Hong Kong and Singapore will be less active than 2015

Investors will continue to look at these established financial centres. However, lack of available assets in Hong Kong – which saw its highest number of transactions ever in 2015 – will make it competitive. Similarly the tightly-held hotel stock in Singapore will mean any opportunities will be highly sought-after.

Increasing interest in secondary markets

There will be pockets of liquidity across Southeast Asia and the Indian Ocean with interesting investment opportunities coming up in markets such as Thailand, the Maldives and Mauritius.

REITs will be on the rise

In Asia there remains the opportunity for the formation of more hotel real estate investment trusts (REITs) if tax structures change to offer similar benefits to those seen in the U.S.


Hotspot status for Vietnam

Vietnam has been identified as one of the next potential real estate hotspots by real estate firm Savills in its latest
Around the World in Dollars and Cents
 research report, published this week.

The report explores what and where the future playgrounds might be for a wide variety of investors.

Over the next five years Savills said the world is likely to see further recovery in markets that were hit by the economic downturn. Stable prices but lower transactional activity seem to be on the cards for core prime cities that have been fully invested in recent years. Meanwhile, small cities that are succeeding in the tech economy, as well as those where strong economic growth is expected nationally or locally, are likely to see increased transaction levels.

Any anti-foreign investor regulation and legislation will reduce cross-border activity, the firm noted, as will high levels of corruption and lack of transparency in some places.

Geopolitical factors will also dampen appetite in certain regions.

Focusing on Vietnam, Savills noted the property industry enjoyed a good 2015. Following on from the Government’s monetary policy of 2013-2014, Vietnam’s macroeconomic conditions are now the best they’ve been for some time.

Almost all asset classes have rebounded, most notably the residential sector. Legal reforms, meanwhile, continue to transform industry practices.

Vietnam performs counter-cyclically to the region, and in 2015 it outperformed its regional peers. This trend is set to continue during 2016, it said, although some headwinds persist.

VALUE-ADD TIP – VIETNAM LANDED RESIDENTIAL DEVELOPMENT – LONG-TERM CAPITAL GROWTH

Rapid urbanisation, a fall in household occupancy and a young population will continue to underwrite residential property demand in Vietnam through 2016 and beyond, Savills reported. In the short term, economic fluctuations represent the main risk, but the growing middle-class demand for new homes will be a long-term phenomenon, as long as the economy continues to perform.

Amended housing laws now allow for foreign investment in this sector.

The landed residential markets in Ho Chi Minh City and Hanoi enjoyed strong supply and good absorption in 2015. Products are now diversified and oriented towards consumers, with developers vying for market share and producing villas and townhouses with ‘cradle-to-grave’ facilities, including healthcare and tertiary services for the aged. This asset class also benefits greatly from improvements in infrastructure and new links, drawing the ‘mortgage belt’ closer to the city.

OPPORTUNISTIC TIP – VIETNAMESE RESORTS – LONG-TERM TOTAL RETURNS

More than half of the world’s tourists come from China and Russia, and Vietnam’s long coastline and good weather are in close proximity to both countries.

Hospitality development throughout the country kicked off with fervour in 2015 and will deliver world-class product, supported by great coastal locations. Improving economic conditions have led to a rise in the fortunes of Vietnam’s property industry, with urbanisation, tourism and retail development leading the way

More than two-thirds of the country’s tourists are domestic Vietnamese travellers. The second generation of hospitality development will leverage initial success by developing second homes and resort accommodation.

Throughout 2016 there will be a range of coastal homes available all over Vietnam from affordable levels to global prestige quality.

CORE-PLUS TIP – VIETNAM RETAIL – LONG-TERM TOTAL RETURNS

Retail development has been feverish as foreign and local developers compete in this rapidly changing environment. Year-on-year growth in retail sales stood at 9.1 percent in September 2015, one of the highest rates globally. Little wonder that there has been so much M&A activity in retail.

Alongside the strong Vietnamese retailers, many foreign developers are now rolling out their formats. In 2016 there will be more contemporary space added, with new retail formats to be tested such as the Takashimaya/Saigon Centre in Ho Chi Minh City.


Hotspots: How to avoid them

It’s fair to say that if you hear any area will be the next property hotspot then, as a property investor, you’re already too late to cash in.

In this article we will focus on what factors identify an existing popular hotspot – wherever you happen to be in the world – and why you may want to look elsewhere for your next property purchase or investment.

The first thing you should do is get to know your intended area. Visit it many times and at various times of the day and week. Go at night to assess the levels of noise and go during rush hour to test commute times. Those are factors that can lead to a successful and quick sale.

When a new development opens judge how many people are visiting. Are people queuing prior to the opening? Is there some form of ballot for potential buyers? If the answer to these questions is ‘yes’ then this could suggest the location is already hot, and that as an investor you stand the chance of being burned.

Talk to as many agents as you can, and get as much information and intelligence as you can about how quickly properties are being transacted. If property is changing hands quickly, or is selling above initial asking prices, this could be an indication of a hot location – and one that is potentially overpriced.

Another sign of a developing hotspot is the physical number of new developments. You can judge this simply be looking at the skyline, and looking at the amount of construction going on. Once a market starts its move towards becoming hot, developers move in. When you see large levels of property development, especially without a clear reason such as new infrastructure projects, this should act as an alarm bell.

A substantial amount of new development in a small area has the potential to lead to oversupply, and then subsequent reductions in property prices. This effect could be limited to just a very small location or a much wider district.

Although Thailand isn’t the most transparent real estate market in the world, you can also gauge levels of new development by monitoring property news and developer websites. Most markets have buying and selling cycles – similar in shape to a roller coaster – and a professional real estate agent will be able to tell you where your chosen city or location is in relation to its position on the roller coaster. Some cities even have separate cycles in different locations – so if your number one location is at its peak try looking for one at the bottom of the cycle and with potential to grow.

Every investor should know that making an emotional decision could be costly. Do your due diligence and gather as much information as possible before you sign the sales agreement.

The secret, if there is just one, is that as a property investor you should only be looking at the black and white of the figures and not the colour of the bathroom suite in your chosen property.


Houze Group utilizes proptech, fintech and mobile commerce to build Vietnam’s first digital ecosystem for real estate

House Group was Vietnam’s first digital ecosystem for real estate

This article on how Houze Group built Vietnam’s first digital ecosystem for real estate appears in the newest issue of Dot Property Magazine.
Click here to download your FREE copy today
!

Most startups focus on a single niche where they are filling a gap in the market or disrupting an existing process. This can be successful but limiting, especially in a complex industry like real estate. Houze Group opted for a more holistic approach. It found there was a need to build and link the outstanding and differentiated value chains that make up Vietnam’s property market.

Instead of siloing solutions, Houze Group searched for a more innovative solution. The startup would place them all under one proverbial roof. The end result was Vietnam’s first digital ecosystem for real estate.

“The goal of Houze is to create a linked service chain on a common platform, to help customers have an integrated experience instead of multiple experiences. We provide a single choice in the real estate-financial service value chain,” Pham Lam Founder, Chairman and CEO of Houze Group, reports. “Houze connects the synergy from the ecosystem to millions of customers across six areas with technology service solutions from three distinct fields. This allows us to create a prosperous community within the real estate sector.”

In order to create a robust digital ecosystem for real estate, Houze Group utilized proptech, fintech and mobile commerce. The trio of technology solutions allows for a comprehensive digital transformation of the real estate market which can stimulate growth and make it more accessible.

“The Houze ecosystem was born with a great vision. We understood that the real estate industry in Vietnam would benefit from digital transformation. It would make things easier, faster and ultimately better for everyone,” Lam explains. “However, creating and operating an organization that brings together talented people in many fields is not easy, but was necessary for the Houze Ecosystem to develop in accordance with our goals and aspirations.”

One challenge Houze Group needed to overcome was the fact no company had successfully developed an ecosystem model to fully serve the entire real estate community. According to Lam, most people want fast, simple and effective experiences which hadn’t been made available to real estate industry.

“People do not like having to install too many applications on their phones. They also don’t want to deal with cumbersome and inconvenient methods. Unfortunately, this tends to happen because the technology and real estate sectors are segmented,” Lam notes. “There are many companies specializing in real estate that lack sustainable technology solutions. There are also companies with high technology capabilities but who do not understand the real estate market deeply enough.”

He continues, “The end result means there are many applications for the real estate sector, but they are developed separately, sporadically and only focus on a single purpose. It ends up being the opposite of what most people want in today’s day and age.”

More from Vietnam:

After overcoming COVID-19, tourism-focused real estate in Vietnam set for bigger and better things

Becoming the leading digital ecosystem for real estate

Pham Lam Founder, Chairman and CEO of Houze Group

In order to accomplish its goals, Houze Group researched and developed multi-service technology solutions that would allow customers to enjoy integrated experiences through a single application. The decision to be a pioneer and forge a new path is always risky, especially when no one in the Vietnam real estate sector had ever tried something so ambitious.

“Pioneering is often accompanied by risk, and the difficulty is higher because no one has ever done it. But for me, that is part of the fun. It requires great courage from myself and our team,” Lam states. “The key to overcoming those difficulties is the attitude. You have to be ready to commit, ready to change and ready to adapt when the market shifts while always focusing on the goal and constantly creating.”

Understanding the real estate market is constantly changing and by quickly adapting to this shifts, Houze Group built a digital ecosystem that was not only the first but remains the best. It has become the hub where the spokes of the property industry come together.

For example, Houze Building has streamlined and digitized building management and operation processes. Residents can easily make requests and receive status updates. On the flip side, building managers are able to operate more efficiently while better serving clients.

Houze Pay is another part of the digital ecosystem. This feature allows people to make online payments through Momo, Payoo, Zalo Pay, Grab Moca and e-banking for electricity and other services.

Meanwhile, Houze Invest has revolutionized property investment by creating a place where investors with small financial capacity can be connected to real estate investment opportunities.

Then there is Houze Agent, a dedicated work management application for real estate brokers. This feature allows them to improve efficiency, provides sustainable career development opportunities and ensures they can offer the best service experience for customers.

For most startups, doing one of these would be a significant milestone. However, Houze Group has managed to do all of these and more. This is why it is seen as the leading digital ecosystem for real estate in Vietnam.

Houze Group’s award-winning credentials

Houze Group at the Dot Property Vietnam Awards 2020

Houze Group was honored with the Special Recognition Award for Innovation at the Dot Property Vietnam Awards 2020 and also won the award for Solution for Smart Buildings/Apartments at Vietnam Smart City Award 2020.

“The award is encouragement for Houze Group’s pioneering technological innovation efforts to ‘digitally transform’ the real estate service sector with a product developed by Vietnamese intelligence,” Lam says. “I and my like-minded and enthusiastic associates have always made constant efforts and actions to build values for the Houze Ecosystem. Building a team with outstanding capabilities who understands the company’s mission and consistently pursues the same goal is something that I feel very proud of.”

Much of the success of Houze can be contributed to its team. The company has built a diverse and talented group that brings a wealth of experience. Startup founders, technology experts, financial specialists and those with a deep understanding of property have come together to create this digital ecosystem.

“The resonance of outstanding capabilities, innovative thinking and deep understanding of the market has helped the Houze Ecosystem pioneer to create products and services that respond well to trends, bring value and are practical for the community to use,” Lam points out.

This is not the end of the journey for Houze Group, but the start of something meaningful. It continues to adapt, looking to provide new and exciting solutions through innovation as it strives toward making the real estate sector in Vietnam more accessible for everyone.

“Houze Group will continue to move fast, powerfully and effectively to develop innovative and breakthrough products, services and technology solutions. We want to create true values for life while contributing to the strong development of the national digital economy,” Lam notes.

He concludes, “With proven core competencies and a sustainable, long-term development strategy aimed at becoming a pioneering real estate technology service ecosystem in Vietnam, Houze Group will keep creating value for our communities.”


How to buy property in Malaysia

Understand how to buy property in Malaysia with this simple guide.

Property ownership differs in every country. Whilst we may know the ins and outs of any legalities on home turf, it is important to understand the procedures in the country you are looking to invest in.

Property ownership.

Malaysia follows the Torrens system, as also used in Australia and Singapore. A system which is applicable throughout the country and is administered by the State Land Offices. This registration system records the land titles. Property can either be held under freehold or leasehold tenure. Owning property under a freehold basis means that it remains yous until it is sold. There is no time limit placed on this. This type of tenure commonly applies to houses. Under leasehold this tenure, the land the property sits on is owned by the state and is leased out for a term of 30, 60 or 99 years. Upon expiry the property is returned to the freeholder.

Regardless of whether property is held under a freehold or leasehold basis, there are a number of land titles that can apply.

1. Individual title – National Land Code 1965.

This applies to any land, house or commercial property that is not multi-storey.

2. Strata issue – Strata Titles Act 1985.

The most common form of title as it applies to condominiums and apartments. Under this form of ownership, the owner must apply to certain obligations as set out by a deed of mutual covenants. These include requirements of unit usage, common facilities and maintenance of common areas.

Are foreign purchasers restricted?

It is not uncommon for overseas investors to have restrictions places on their spending power. This also applies to Malaysia. Although the rules differ depending on what state the property is in, generally they can only invest in property over MYR 1 million. Additionally, property cannot be purchased without approval from the state government which is sought through the local land office.

However that is not to say that Malaysia discourages foreign investors. The
Malaysia My Second Home
 scheme which offers a visa for overseas retirees has been a resounding success and had generated significant revenue stream for the country. Recently the country was dubbed as the most attractive place to retire for
Australian’s according to the retirement website internationalliving.com.

Other points to be aware of.

In Malaysia property is mostly commonly measured in square foot.

The
minimum spend for foreigners
 can change across the 13 individual states that make up the country. It is advised to monitor the news to keep abreast of any changes.

Purchasers are responsible for stamp duty (between 1 and 3 percent), and solicitor fees (between 0.4 and 1 percent).

Real estate fees of generally 2 to 2.75 percent must be borne by the seller.


How to calculate the value of your property

Follow our tips on how to work out how much your property is worth.

Property is one of those subjects that we all like to talk about. Whether that is discussion of a
new township
 being built on the outskirts of
Kuala Lumpur
, how much a neighbour has put their property on the market for or how much your own property has appreciated in value. As property forms part of many people’s investment portfolios, it is important to be able to accurately value your property especially if you are considering moving.

1. Ask the experts.

Real estate agents are the eyes and ears on what is happening in the market. Call on their expertise in order to give you a market appraisal of your property. It is recommend to get at least three valuations in order to help work out what your property is worth. Work out the average if there is a discrepancy between them. Remember that some agents may overvalue your property in order to win your business. It is easy to be lured by the highest figure but essentially a property is worth what someone will pay for it. Therefore if one agent is widely higher than the other agents, then ask them how they have reached this figure. This is also your opportunity to ask the agents whether people are offering at asking price or if not, what percentage lower.

2. Check comparables.

One accurate way to calculate the value of your property is with comparable evidence. Check
Dot Property
 for similar properties that are on the market. But remember to compare like for like. A property that is finished to a lower specification than your property or does not have a car parking space will warrant a lower price tag. Remember some properties will be marketed at a higher price in order to allow for negotiations. Even better is to find out recent sold prices as this gives a very accurate idea of where prices are. Chat to your neighbours and speak to the management team at your building who may be able to give you some inside info.

3. Calculate per square metre.

Should you be comparing your property with one sold in the same building that is a different size, then calculate what the values are on a square metre basis. Many agents will know what values are per square metre for buildings so this is another way to work out the value of your own property.


How to keep cool at home

Follow these five tips on how to keep your home cool and reduce your electricity usage.

Temperatures in Malaysia remain fairly consistent year round. Hovering around the late 20 degrees Celisus, March is the hottest month for Kuala Lumpur. With this bring heats that we often try and shy away from where we can. Electricity usage peaks as we crank up the air conditioning, but what other means can we use to try and keep our homes cool?

1. Switch on the fan.

Air conditioning has replaced fans. Whilst the latter may seem an outdated they still have their uses. Fans circulate the air well and freestanding ones make it easier to control the temperature in different parts of your home. Plus the icing on the cake is that fans uses a fraction of the energy to run as opposed to air conditioning. Install a ceiling one above your bed and you will quickly enjoy the breeze it brings without feeling you are in sub zero temperatures.

2. Use air conditioning wisely.

How you use your air conditioning will influence its efficiency. If a fan is not going to cut it for you, then make sure you think about how you are using the air conditioning. Get it cleaned and maintained regularly for optimal performance. When it is in use make sure all the windows and doors are closed. Remember to set the temperature to around 25 degrees Celsius. Experiment with different temperatures. Set it at 21 degrees you may find that your room gets too cold and you are constantly turning it off and on again. This will put further strain on the unit than a steady temperature.

3. Protect your home from the sun.

There is a good reason why properties not facing the sun often sell first. They are cool, do not get struck by blazing sunshine and can even enjoy a breeze. If you are subject to direct sunshine then help control the temperature of your home with restricting the sun from coming in. Tinted windows will stop the sun’s UV rays from pouring in without distorting your view out. But if changing the windows is not an option, then consider applying a film that has the same qualities instead. Alternatively, fit curtains and blinds that absorb the sun and remember to shut them when you are not in that room.

4. Use any natural cool air.

Should you be fortunate enough to experience a breeze in the afternoon or a cooler evening temperature, then open your windows and doors up to take advantage of this. The hot air will soon escape. And if you have a window in your bathroom remember to leave this open to let the hot air leave after a shower.

5. Turn off appliances.

Electrical appliances generate heat. So it is best (if possible) to avoid using them in the heat of the day. For example keep ironing to first thing in the morning or the evening. Fridges tend to let out significant warmth so make sure it is set the temperature to medium as any lower and it will be working hard to keep itself cool thus using more electricity and generating more outward heat.


How to protect your home during rainy season

6 ways to make sure your home is kept dry during rainy season.

Now Malaysia is in the thick of the rainy season. From March to June the downpours come when we all try to seek shelter and avoid getting wet. Your home can get damaged during this wet season so it is important to take precautions to protect it. Have a read through this guide to make sure you are ready for the next shower that comes our way.

1. Never chance it.

It could be sunny one minute and then raining the next. To ensure you are not caught short always make sure your home is secure by shutting all windows and doors.

2. Make it watertight.

Water can easily seep in through your windows and doors should there be gaps. Therefore make sure both are watertight so that you are prepared for the next bout of rain. One obvious way to check for any gaps is checking your property after it has rained. See if any water has collected in one particular area or if there is evidence of water inside so you know where to address.

3. Clear gutters and drains.

Should you be living in a house in Malaysia it is important to check that the gutters are clear of leaves or any other debris that can restrict the flow of water. Any blockages will cause rainwater to seek alternatives routes that could result in overflowing causing damage to your home. Likewise it is important to check any drains such as those on your balcony. Remove any debris and should you not be be able to clear it yourself seek the help of a professional who will be able to clear it with the right equipment.

4. Regular roof maintenance.

Also if you live in a house check the roof at least yearly. Keeping on top of any maintenance will save you money and hassle later down the line. Water coming through the roof is probably the most common form of damage to homes during rainy season.

5. Invest in home insurance.

Sometimes when it rains it feels like it is never going to stop. As it is not something we cannot control it is wise to make sure you have taken out an adequate insurance policy to protect your home due to severe weather conditions. Remember to read the small print and the terms carefully to make sure it provides you with the right level of protection required.

6. Prepare for the worst.

Without wanting to sound too dramatic, it often pays to be prepared for flooding. If your home is likely to be flooded make sure that there are no items on the floor. Move furniture to an upper floor if you can, or stack items on top of one another. Invest in some sandbags. Make sure you have enough drinking water. Stock up on candles and torches in case of a power failure. And have wet weather clothing for yourself.


How to save for your own home

Don’t feel overwhelmed with the prospect of saving for a home with these pointers.

One of the first things you will need when buying a property is a deposit. This is regardless of whether you are a
first time buyer
 or if you are wanting to move to a bigger home. Increasing the size of your deposit will help secure a better mortgage deal. It will also lower your monthly mortgage as well as be able to help you move into your dream home. But how can you increase the size of your deposit?

1. Get number crunching.

Start by calculating where you are spending your money. Set up a spreadsheet and track your outgoings each month. Categorise this into groups such as food, entertainment, rent, bills, transport, etc.

2. Budget.

Once you have established how much you spend each month on regular outgoings, set yourself a budget for those that aren’t fixed, such as shopping and entertainment and stick to this budget.

3. Cut back on one.

In order to save money you are likely to need to make a saving somewhere. Whether you ditch the morning freshly brewed coffee from your favourite barista for a cup of instant at work, opt for public transport instead of your own car, eat out only when you have an online meal deal or give up the subscription to your favourite magazine. Cutting back on all of the things you enjoy is hard, and is less likely to be a success. So start with cutting back on one and once you do not notice that this is missing you can cut back on more.

4. Shop around.

Could you reduce the cost of your monthly outgoings by getting yourself a better deal? Are you spending too much on your phone but not using up all the data or minutes? Could you look for a better car insurance deal? Cheaper health insurance? Home internet? Look at all your fixed outgoings and speak with your provider to see if they can reduce the cost for you, and if not, seek an alternative service for a better deal.

5. Agree on a monthly saving amount and set a goal.

Once your finances are in order you will be in a better position to set a monthly deposit amount. You want to set aside any disposable income but remember to make this a realistic figure otherwise you will never stick to it. And remember to have a goal of how much you need to save too.

6. Set up a separate savings account.

Open a bank account solely dedicated to your property purchase. Pick one that makes it hard to withdraw money so that you don’t dip into it with ease. This could be one where you are penalised for making withdrawals or one with a bank book rather than ATM card. They tend to have the higher interest rates too. Set up an automatic transfer into this account the day that you get paid so that the money has instantly gone. Then if you have any money left at the end of the month you can transfer this into the account too.

7. Remain strong.

Saving can take time so be patient and stick to your guns. Set yourself a visual goal if you feel it would help. Such as a picture of your dream home on your fridge. There are ways you can increase your property deposit even quicker by cutting out on bigger luxuries such as holidays or big purchases such as the latest phone. Additionally, if you get a bonus at work then transfer this straight to your savings account. You will be surprised at home quickly your savings can accumulate.