Malaysian investors look to Japanese real estate for stability

These can be considered interesting times for real estate investors. While markets in Southeast Asia offer the lure of high yields, countries like Vietnam, the Philippines and Thailand are all prone to some amount of risk. Meanwhile, with the impact of Brexit and the presidency of Donald Trump still unknown, so-called safe haven markets like the US and UK aren’t as much of a sure bet as they have been in the past.

This is why some Malaysian investors have begun turning their attentions to Japan, a market with no political volatility and a proven ability to bounce back after turbulent events. The Japanese real estate market has managed to recover after the 90s bubble collapse, the global financial crisis and the massive 2011 earthquake.

The country also offers something emerging markets don’t have, a large, developed economy. Additionally, tourism is rapidly expanding in Japan with Tokyo among the most visited cities in the world. And with the Japanese government looking to allow more foreign workers into the country, real estate investment in cities like Tokyo could be a shrewd play.

In fact, the only thing stopping more property investors from entering the country has nothing to do with the performance of the market itself.

“The biggest thing deterring people from buying Japanese real estate is the language barrier,” Sato Tsutomu, Managing Director of
HJ Real Estate
, explained. “It can cause some complications in the process, but it is easy to overcome with the help of an expert. There are also considerations you will need to be aware of when it comes to financing and capital gains tax, but the process of buying real estate in Japan is straightforward and transparent.”

Unlike some markets where ownership rules regarding international buyers can be complex,
there are no regulations or restrictions when it comes to non-resident ownership of property in Japan
.

“Japan offers freehold ownership for international clientele and your name will be shown on the title deed,” Sato said. “And unlike Hong Kong, Singapore and Australia, where buyers from abroad are hit with a stamp duty tax, international owners are not obliged to pay any additional taxes when buying Japanese real estate.”

Japanese real estate affordable for Malaysian investors

Sato Tsutomu, Managing Director of HJ Real Estate, notes real estate in Japan is affordable even when compared to prices in Malaysia

Another advantage Japan has on those markets is price. While property in the country is not cheap when compared to developing markets like Vietnam, Thailand and Indonesia, it does cost significantly less than in Hong Kong or Singapore.

“Housing in central Tokyo can cost the third of a similar unit in Singapore and this is something interesting to buyers,” Sato noted. “International investors are also attracted to Japan because of the weaker yen which helps make property prices reasonable.”

Another factor working in Japan’s favour is domestic demand. Whereas London is now overly dependent on foreign demand, there is still strong domestic demand in Tokyo. This is something that is important for a healthy residential market.

“Nearly 50 percent of the population in Japan are renters and renting is not necessarily something that is seen as being negative,” Sato pointed out. “Many people in the country work for larger corporations and move every three-to-five years. This means it isn’t always practical to own a home and ensures the rental market is solid.”

Find a partner who knows the Japanese market

Regardless of if you are looking to purchase a single unit or are a large-scale investor, Sato stressed that it is important to work with a firm that not only knows the market, but can also help with all aspects of a potential deal. HJ Real Estate is an associate company of
Housing Japan K.K.
 an international real estate broker in Tokyo, and HJ Asset Management K.K, an independent asset management firm.

The officially licensed Singaporean agency serves as a one-stop shop for international clientele and can help buyers from Malaysia and Singapore find the best luxury homes and investment properties in Japan as well as translate and close contracts in English. HJ Real Estate also offers complete property management, asset management services and can assist with structuring deals that contain efficient tax and financing.

This story appears in the May/June issue of Dot Property Magazine.


Malaysian passport makes the top ten

Malaysia’s passport is ranked sixth “most powerful” passport in the world.

Malaysian passport holders can travel to 154 countries without prior organisation of a visa. This puts the country in sixth position as the most powerful passport judged on the amount of free movement the bearer has. This ranking is alongside the United States, Ireland and Canada.

The index has been compiled by Arton Capital, a financial advisory firm. It assesses 193 United Nation countries by what visa requirements they need to travel overseas. Each country is ranked with a “visa-free score”. Calculated by whether the said country needs a visa or if they can obtain one upon arrival.

Singapore has pushed Germany off pole position in this global passport index. Previously Singapore and Germany jointly held this accolade. This has now shifted since Paraguay has altered its visa requirements for Singapore. This is the first time that an Asian country has topped the charts. Travelling to 159 out of 193 countries without the need of a visa, Singaporean passport holders have the most amount of free movement with the most powerful passports.

Following closely behind in second position is Germany with 158 countries. Next is Sweden and South Korean with 157 countries each. Hot on the heels is the UK, Denmark, Finland, Italy, France, Spain, Norway and Japan in fourth position with free movement to 156 countries. Whilst fifth to eight positions feature sixteen countries such as Canada, Ireland, Portugal, and New Zealand with visa-free scores of between 155 to 152 countries.

The only other two Asian countries that feature in the top ten are South Korea (157 countries) and Japan (156 countries) illustrating the sheer strength of Malaysia’s passport. The least powerful passport in the Index is from Afghanistan which allows the bearer to only travel to 22 of the 193 countries without the need of a visa.


Malaysians buy Melbourne site

A Malaysian developer has paid AUD$ 5.7 million on a per unit rate of AUD$ 132,558 and a land rate of AUD$ 34.48 per sqm for an Ivanhoe residential development site with approval for 43 apartments (pictured) in a deal brokered by Savills Australia.

According to Savills Associate Director, Jesse Radisich, and Director, Julian Heatherich, who managed the Expressions of Interest sale, the property attracted 150 enquiries from a wide range of local, national and off-shore developers.

“A total of seven individual Expressions of Interest were received following the close with a spread of local, national and off-shore developer interest. Ultimately, the site was sold to a prominent Malaysian developer, and this will be the group’s second major project in Melbourne.”

Located at 47-49 Norman Street, the 1,653 sqm site zoned General Residential Zone 1, is close to Ivanhoe Railway Station and prime retail on Upper Heidelberg Road.

Heatherich said the price had comfortably exceeded the initial price expectations of circa AUD$ 5 million.

“The response to the marketing of the property was extraordinary, but not all that surprising given Ivanhoe’s close proximity to the CBD, the location in Ivanhoe, the availability of first rate services and the demand that has seen such a fantastic success rate for surrounding projects,’’ Heatherich said.

The quiet, leafy, family friendly suburb, just eight kilometres and a 20-minute train ride from Melbourne’s CBD, has become a favorite with apartment purchasers, with 206 of 222 new apartments sold before construction on just three new projects.

In Westley Avenue a 127 apartment project, which is currently underway, has sold out, while the 51 apartment Decco project at 55 Lower Heidelberg Road was 90 percent sold prior to construction and 33 of 44 apartments at 206 Lower Heidelberg Road sold in the first 10 weeks of formal marketing.


Malaysians buying in London

Buyers from Malaysia contributed to a record-breaking London city residential property launch.

Galliard Homes has sold more 80 premium apartments as part of the Phase 1 sales at The Stage in Shoreditch. The Stage is the £750 million transformation of the 2.3 acre site of William Shakespeare’s Curtain Theatre into a new mixed use destination for London.

The developer has achieved values approaching £1,600 per sq ft, with the sold apartments priced from £696,000 to more than £1 million. Some 95% of the sales were to U.K. domestic buyers, with the overseas sales dominated by purchasers from Asia and the United States, including Thais and Singaporeans.

David Galman, Sales Director at Galliard Homes said: “The uptake for the Phase 1 sales release has been good. The Stage is a unique development, rich in history and character. The scheme is in a good location on the doorstep of the City of London and we are selling a high quality product.”

The 37-storey residential tower at The Stage will provide 412 luxurious studio, one-, two- and three-bedroom apartments and four-bedroom duplex penthouses, ranging from 416 sq ft to 2,434 sq ft in size.

Completion is scheduled for Q1 2019 and prices start from £695,000.

Image: The ‘stampede’ at the sales launch for The Stage.

www.thestageshoreditch.com


Malaysians flock to Singapore property again

Foreign investors are back in Singapore with Malaysians the second
biggest spenders
.

Recent figures reveal that Malaysians are buying property once again in Singapore. Having shied away from this regional power house in 2012 alongside other overseas investors due to cooling measures put in place to slow the market. Recent figures reveal that Singapore has retained its attractiveness as a place to invest in property. Many are drawn in due to the island-state’s stable economic and political systems certifying its safe haven status.

According to Singapore’s Urban Redevelopment Authority there has been a 48 percent increase in foreign purchases for the first half of this year if compared to the same period of 2016.

Singapore’s neighbouring Malaysia are the second biggest players in the market. They look to spend between SGD 500,000 and one million on property in Singapore. They seek out property in the central areas that includes districts 18, 19 and 27. Addresses such as Serangoon Garden, Hougang, Punggol, Tampines, Pasir Ris, Yishun, and Sembawang.

Unsurprisingly the Chinese make up the majority of overs transactors. Often buying property between SGD 500,000 to SGD 1 millon. Indonesians coming in at third position but interestingly buy the most expensive property compared to other foreign investors. 10 percent of Indonesians purchase property in excess of SDG 5 million, and 11 percent look between SGD 3 and 5 million.

Indians and Americans are the two other nationalities that are buying property in Singapore. This news of India coincides with recent figures news illustrating how the strength of the rupee has ensured that overseas property is cheaper for Indians. This has crated a huge surge in their overseas property purchases.


Malaysians debate new taxes

Australian commercial real estate real estate agents from Knight Frank Australia and Malaysia held a roadshow recently to present a range of properties to potential investors.

Despite massive interest in the Australian market, the thing on everyone’s mind was the potential impact of changes to Australian property taxes on Malaysian investments.

Knight Frank Australia’s team conducted the formal seminars in Kuala Lumpur and Penang alongside Sarkunan Subramaniam, Knight Frank’s Managing Director for Malaysia and James Buckley, Executive Director for Capital Markets, Malaysia.

The team held many one-on-one client briefings as part of an Australian Property Forum Malaysia Roadshow.

According to Knight Frank’s Head of Commercial Sales Paul Henley, :“Australia is of much interest to Malaysian investors due to its strong underlying economic fundamentals, including a record-low interest-rate environment.

“With interest rates having dropped to their lowest ever, and a stable political scene with the Federal election result, combined with an ever-growing population, Australian commercial real estate is well-positioned for offshore investors.

“Malaysia’s SP Setia purchased 288 Exhibition Street, Melbourne for AUD 101 million, one example of the growing interest from Malaysia in the Australia’s commercial property sector.”

Knight Frank’s Head of Research and Consulting, Australia, Matt Whitby, said Brexit is expected to accentuate the capital flows into Australia commercial real estate.

“I expect Australia will benefit from Brexit and other global uncertainty, as it remains a safe-haven for investors. With volumes slowing over the past quarter, mainly on the back of limited supply of assets.

“I expect Brexit will accentuate the capital flows into Australian commercial real estate and volumes will pick up in the second half of 2016,” he said.

“Australia’s economy is the envy of the developed world, growing at 3.1 percent as at the March 2016 quarter. Sydney and Melbourne are driving performance, while our population is strong, with a growth average of 1.5 percent across the country.

“Sydney alone accounted for AUD$ 19 billion over the past two years, predominantly from Asia.”

Total Malaysian overseas investment into real estate globally was steadily increasing; however fell back in relative terms over the last financial year.

Strong interest continues

Malaysian investment in Australian commercial real estate has averaged AUD$ 750 million over the past six years however deal flows have not been as prevalent over the past year.”

Henley said it remains to be seen in coming weeks how much the latest Australian taxation laws will impact Malaysian buyers in this market.

“Despite the recent stamp duty changes imposed on foreigners purchasing residential property, interest from Malaysian investors is remarkably strong.

“We expect many commercial, hotel and retail assets transactions from Malaysian investors over the next year.

“These types of assets are not impacted by the tax changes, and some residential specialists will still show interest at the right pricing metrics to build scale,” said Henley.

According to Sarkunan Subramaniam, Australia is a key destination for Malaysians.

“Some 77 percent of Malaysia’s ultra-high net worth individuals expect to send their children abroad for university next year.

“This has created a significant connection between Australia and Malaysia over time.”

Pictured is one of the
properties being marketed by Knight Frank Malaysia in Melbourne.


Malaysians strive to be homeowners

Recent findings state that property remains an important asset for Malaysian millennials.

HSBC Holdings Plc recent survey ‘Behind the Brick’ reveals that of the Malaysians who do not own a home, 93 percent anticipate that they will do within five years. This is ahead of the global average of 96 percent.

The report looks a global home ownership collecting 9,000 responses across Australia, Canada, China, France, Malaysia, Mexico, United Arab Emirates, UK and the US. With the aim to understanding
millennials’
 perception on property. Plus advising how this demographic can reach the
first wrung of the property ladder
and drawing on any obstacles that could get in their way.

The increased numbers of affordable housing and transport infrastructure in the pipeline in Malaysia will also help maintain values for millennials’ advantage. There is a strong demand for properties up to MYR 500,000 to satisfy the needs of millennials.

Despite three-quarters of millennials wanting to own their own property, many do not have access to a deposit to make it happen. 43 percent feel that they there are in a position where they cannot afford the property they would prefer. But in order to change this, 62 percent would cut back on spending money on leisure activities, 23 percent would consider clubbing together with a family member to be able to afford to buy property, and 41 percent would reduce their expectations in terms of the size of their desired property.

HSBC advise that for millennials to reach the first rung on the property ladder, they need to:

Start saving early for a deposit.

Have a contingency beyond their budget.

Assess their finances in order to get a clear picture of affordability.

Consider reducing daily outgoings in help save for property.


Malaysia’s Best In Real Estate Honoured At The Dot Property Malaysia Awards 2017

John Primmer (right), Hard Rock Hotel Penang General Manager, receives the Best Hotel Development Award from Dot Property Magazine Editor in Chief Cheyenne Hollis (left)

The Dot Property Malaysia Awards 2017 officially announced the winners with the country’s premier developers, projects and hotels earning honours. Among the big winners were SkyWorld and Mayland with the latter picking up a pair of awards. There were 13 awards handed out in total this year.

Organised by Dot Property Malaysia, the country’s fastest growing property portal, the inaugural Dot Property Malaysia Awards 2017 honoured the absolute best projects, developers and companies that contribute to real estate in the country.

SkyWorld’s commitment to providing sustainable sky living to the country’s city communities propelled it to win Best Emerging Developer at The Dot Property Malaysia Awards 2017. Among the firm’s notable projects is SkyArena, Kuala Lumpur’s first vertical community to emphasise active living and wellness.

Mayland scooped up a pair of awards. Hampton Damansara took home Best Lifestyle Residential Design while One Stonor was named as best Best Ultra Luxury Condo Development. In the luxury categories, Quay West Residence was honoured as Best Luxury Condo Development, Penang and Best Luxury Condo Development, Kuala Lumpur was bestowed upon Picasso Residence.

Hard Rock Hotel Penang earned the highest hotel award: Best Hotel Malaysia. The Rucksack Caratel was selected as Best Hotel Malacca. Meanwhile, in the office category, GuccoLand’s Damansara City Office Towers was a worthy winner of Best Office Development and Regus snagged Best Serviced Office Malaysia.

The Dot Property Malaysia Awards 2017 full list of winners:

Best Emerging Developer – SkyWorld

Best Boutique Developer – OCR Land Holdings

Best Luxury Branded Residences – Dorsett Residences

Best Ultra Luxury Condo Development – One Stonor

Best Lifestyle Residential Design – Hampton Damansara

Best Luxury Condo Development, Kuala Lumpur – Picasso Residence

Best Resort Inspired Development, Kuala Lumpur – Armanee Terrace 2

Best Townhouse Development – Bellevue @ Cybersouth

Best Hotel Malaysia – Hard Rock Hotel Penang

Best Hotel Malacca – The Rucksack Caratel

Best Office Development – Damansara City Office Towers

Best Serviced Office Malaysia – Regus

Best Luxury Condo Development, Penang – Quay West Residence

Winners are selected by Dot Property Malaysia and the regionally focused Dot Property Magazine who evaluate every candidate based on a number of factors created specifically for each individual category.

“The winners at The Dot Property Malaysia Awards 2017 have raised the bar in their respective categories. Our efforts to find the best firms and projects were thorough and exhaustive. Every winner has truly earned their award and can stand proudly as the best at what they do,” says Sunniya Kwatra, International Business Development Manager at Dot Property.


Malaysia’s KSK Land reimagines the lifestyle experience

8 Conlay won Best Residential Lifestyle Design at the Dot Property Southeast Asia Awards 2020

As a lifestyle developer, KSK Land prioritizes the experience. Having a lot of features or being convenient isn’t enough. The developer believes mixed-use developments need to be places where people can live, work, play and create memories.

In order to accomplish this, KSK Land focuses on curating the best possible design and craftsmanship at its projects. From there, the firm seeks to collaborate with brands and designers who understand lifestyle. That’s why it partners with Kempinski Hotels on hospitality elements and TROP Studio for landscape design.

These ideals come to life at 8 Conlay, winner of Best Residential Lifestyle Design at the Dot Property Southeast Asia Awards 2020. The project isn’t simply a place to call home, enjoy an overnight stay or shop, it’s an experience set amidst the urban backdrop of Kuala Lumpur.

8 Conlay is an exciting amalgamation of life’s possibilities when everything comes together. The three-tower, mixed-used development features the first and only Kempinski Hotel in Malaysia as well as YOO8, one of Southeast Asia’s most exclusive branded residences. The residential component will span two towers with each one being entrusted to YOO and a world class designer.

Tower B features interiors designed by Kelly Hoppen in conjunction with prestigious design house YOO. Hoppen has created two exclusive concepts which will only be found here. Steve Leung and YOO have been tabbed for Tower A and their vision is for interiors that combine a modern outlook with distinctively Asian accents.

Meanwhile, 6-star hotelier Kempinski will manage the residences ensuring living here provides a lifestyle experience not found elsewhere in the region. The amenities of YOO8 add to this with everything from a multi-tiered park in the sky to ample recreational space all designed to meet the needs of modern residents.

The three towers of 8 Conlay are tied together by a retail center that provide cultural and artistic experiences along with collection of fine shops and F&B venues that will be selected with the intelligent, contemporary shopper in mind.

KSK Land’s work on 8 Conlay saw the firm honored as Best Mixed-Use Developer at the Dot Property Southeast Asia Awards 2020. The two victories are proof that it has not only reimagined the lifestyle experience, but taken it to another level.


Malaysia’s property market appeal

Property market continues to attract interest, but why are the Chinese such active players?

Malaysia’s economy has taken an upbeat turn. The ringgit has got stronger too adding to the country’s appeal as a good place to invest. This is according to Judy Ong, executive director of research and consultancy at Knight Frank Malaysia. Ong also cites the country’s political stability and developed infrastructure as other reasons that investors are drawn to this property market.

This is demonstrated by the continued Chinese thirst for Malaysian property. China may have attempted to restrict the outward flow of capital, which has slowed down property shopping sprees by individuals and companies. However, stated-owned enterprises do not fall under this category and manage to still buy real estate. Hence the majority of property purchases in the country are from the Chinese. A property market where 35 percent of all transactions are from
foreign purchasers.

So despite obstacles being put in place to restrict the Chinese’s spending power, there remains a strong appetite. The interest in Malaysia is not expected to slowdown anytime soon either. Ties between the countries and similar cultures are cited for reasons for this.

Although currency does play a part, Knight Frank reminds us that there are still fundamentals aside from this that drive the market. The real estate consultancy’s Global Currency Report looks at how currency can play a role for global luxury residential property. Whilst changes can mean investors shift their focus such as the
recent appetite for property in the UK
 from Asia, factors such as yields remain important. Scooping up a bargain due to a strong local currency should not be a reason alone for an overseas property investment.

Investors need to look to the long term. Something that many Chinese have considered due to Malaysia’s role in the China’s Belt and Road initiative that will help to boost trade. It is unsurprising that Malaysia is Chinese developers third popular destination according to Knight Frank.


Marci Rossell named Chief Economist at LeadingRE to help lead firm’s global charge

As Leading Real Estate Companies of the World® (
LeadingRE
) looks to find new ways to support its members, it hired renowned financial journalist Marci Rossell as its first chief economist. After a historic 2016, the company, which boasts the world’s market-leading independent residential brokerages in over 60 countries, wants members reach greater even heights in 2017.

In her new role, Rossell will help LeadingRE’s 550 firms and 128,000 associates gain an understanding of all the economic issues that are relevant to real estate across the world. This wisdom will prove to be invaluable for the company’s ever expanding global network.

“LeadingRE brought me on as their new Chief Economist to provide insight to our members,” Rossell explains. “I am most looking forward to getting to know our members from around the globe. They each bring their own unique perspective from their individual countries and markets that will add depth and colour to my own macroeconomic outlook.”

The Southern Methodist University graduate was able to visit with several LeadingRE members for the very first time at
the company’s annual Conference Week which was held earlier this year
.

“I was lucky to come on board with LeadingRE in time to meet many of our members at the conference in Miami Beach, Florida,” she notes. “The energy of the group was invigorating. Sharing my global outlook with them, and getting so much fantastic feedback about their needs, will allow me to craft an outlook for them that they can really use in their own businesses.”

And with that event now over, Rossell will now find new ways to show LeadingRE members just how the economy impacts the real estate market. The former economics professor and speaker is able to call upon a wealth of experience to present information in a practical manner that goes beyond numbers.

“Real estate is only one element in the economy, and the economy is only one element that matters for real estate,” Rossell says. “My experience in a broad range of fields allows me to do so much more than just present the real estate-related facts and figures around the economy. I believe it’s more important to put those numbers in a historical perspective and give our members more of the story of how the economy is influencing real estate today.”

Rossell rose to prominence during a stint as CNBC’s Chief Economist where she developed a reputation as a groundbreaking financial journalist. And while most people may know her from this time, she has two decades of economics experience. She spent time in the research department of the Federal Reserve Bank of Dallas right before the Asia Crisis of 1997 and has been able to leverage what she learned during that time when the Financial Crisis hit in 2008.

Focusing in on Southeast Asia

LeadingRE has massive plans for Southeast Asia and continues to attract more quality real estate operations from the region to its robust network. Indonesia is a market the company has targeted specifically moving forward.
The firm is sponsoring the upcoming Dot Property Indonesia Awards 2017 and the Dot Property Philippines Awards 2017
 and LeadingRE will continue to partner with Dot Property on new opportunities this year as well.

“The demographics of Southeast Asia support a vibrant real estate market for years to come. A large portion of the population is just now reaching the age of their first home purchase, with the median age in the region at only 29 years old, well below that of the U.S. (38), Germany (46) and Japan (46),” Rossell points out. “And less than half the population in the region currently lives in urban areas, which means that demand for real estate will stay strong as Southeast Asia moves to a level of urbanisation similar to the U.S. (82 percent) and Europe (75 percent).”

Real estate activity in the region isn’t limited to locals. With affordable prices and ideal destinations, buyers from around the world are now considering purchasing property in Southeast Asia. Prices are relatively low and real estate here can be used as both a vacation home and an income generating investment property.

“I think Southeast Asia could be the next frontier for US buyers of luxury properties. The US dollar has appreciated more than 20 percent since July 2014,” Rossell says. “Because their dollars will now buy more abroad than a few years ago, 2017 could be the time when US buyers look to Southeast Asia for attractive luxury properties.

Marci Rossell to help the best get better

This year is shaping up to be another one for the record books for LeadingRE. With more than 4000 offices in 62 countries, the firm is dedicated to a worldwide approach that keeps a local focus.

“Despite the recent rise of economic nationalism in many parts of the world, the globalisation of real estate markets is here to stay. ‘What makes LeadingRE special?’ It provides a local connection to this world of real estate. It’s why I am so excited to join the LeadingRE team,” Rossell concludes.


Mark Quinn-led PBRE named among Thailand’s Best Real Estate Agencies for second year running

PBRE was named as one of Thailand’s Best Real Estate Agencies at the Dot Property Thailand Awards for the second consecutive year. Led by Mark Quinn, the firm has expanded rapidly over the past 24 months with the opening of several new offices making it the Eastern Seaboard’s largest real estate agency.

Victory at the Dot Property Thailand Awards 2022 is further proof that PBRE’s service-driven approach is unsurpassed at the moment. The agency takes pride in combining skills and knowledge with meaningful connections to create an exceptional real estate experience.

Born and raised in Oxford, Quinn was a qualified building surveyor in the UK before moving to Thailand 13-years ago. Today, he, alongside the entire PBRE team, works tirelessly to ensure those searching for property find exactly what they want. It can be a challenge, but everyone at the agency is up to the task.

“This is the recognition that the team deserves. All the hard work, and it is real hard work, over this difficult period is coming to fruition. The hard work is paying off and their service mindset is really performing well,” Quinn proclaims.


Massive at first sight, but just how big is the Suvarnabhumi Airport expansion concourse?

The Suvarnabhumi Airport expansion concourse (front) is expected to open in late 2019 or early 2020

If you’ve flown in or out of Suvarnabhumi International Airport recently you probably noticed the large building being constructed opposite the main terminal. The structure has sprung up quickly over the past 12 months thanks in no small part to the innovative building materials being used.

The building is the Suvarnabhumi Airport expansion concourse and it will boost the facility’s capacity by 15 million passengers when it opens. If that sounds like a lot, it is. And this means the new concourse needs to be big enough to handle the vast amount of people who will use it.

So just how big is this structure? For starters, it is about one kilometre in length. To put this into perspective, the new terminal covers more distance than what’s found between the
Siam BTS station
 and Chit Lom BTS station with a hundred or so meters to spare. And if you factor in width, it covers more area than nine football pitches.

See more:

Go inside the Suvarnabhumi Airport secret tunnels

In terms of similar buildings, the Suvarnabhumi Airport expansion concourse is very close in size to Singapore Changi Airport Terminal 4. The new terminal at Changi can handle up to 16 million passengers per year and has a total of 21 contact gates and eight bus gates. The Suvarnabhumi Airport expansion concourse will be able to accommodate 15 million passengers annually and will have 28 contact gates.

But there is more to a building than its length or how it compares to similar structures. The true size of the Suvarnabhumi Airport expansion concourse really comes to light when you look at the amount of material used in its construction. In many places throughout the three-story concourse, builders opted to use wall panels instead of traditional brick and mortar solutions.

A total of 100,000 square meters of panels will be used in the construction of the concourse building. Of course, you’re probably now wondering just how big 100,000 square meters is?

In order to place into to context, let’s compare the size to other buildings. There is no shortage of high-rise condominiums in
Bangkok
 these days. These buildings take roughly 25,000 square meters of pre-fabricated wall panels to complete. It’s impossible to say the Suvarnabhumi Airport expansion concourse is the exact same size as four high-rise condominium buildings, but it is close.

That’s good, but how does compare to current Bangkok landmarks. Well, Central Chidlom is 68,000 square meters in total. The largest IKEA in Southeast Asia is IKEA Bang Yai and that’s only 50,000 square meters. Yet, it will take less time to install the 100,000 square meters of pre-fabricated wall panels at the Suvarnabhumi Airport expansion concourse than it took to for work to get done on either one of those small projects.

Central Chidlom took years to build before finally opening its doors to shoppers in 1973. The reason it took so long was to due limited technology. Brick and mortar was the only way to go back then.

Meanwhile, it took nearly two years for work on IKEA Bang Yai to be completed. Installation of the 100,000 square meters of pre-fabricated concrete wall panels at the Suvarnabhumi Airport expansion concourse, will have taken less time despite being double the size.

So, just how big is the Suvarnabhumi Airport expansion concourse? It’s really big. But it has taken less time and money to build than other similarly sized structures thanks to innovations in construction including the use of wall panels.


Meet the company changing the way people view their next property

Developers and real estate agents in Southeast Asia have relied on the same few marketing tools for more than a decade now. Homebuilders will create show units that are fully furnished and aren’t always an accurate representation of the average residence. For property professionals, most create straightforward listings with a few photos and some text for potential clients to see.

These are both successful methods that have helped propel the real estate industry to greater heights. But they are now being disrupted as people looking for property want to be engaged. Property seekers, both end users and investors, want an immersive experience that is available at their convenience. They prefer a chance to get close to the property from their phone or laptop before reaching out to a real estate agent or developer for additional information.

Vizoport has developed a range of innovations to accomplish just that. The Bangkok-based company is empowering developers and real estate agents throughout the country with the tools to provide a 24/7 open house experience online.

The firm estimates that 82 percent of people looking for property in Southeast Asia are more likely to use a real estate agent that provides virtual tours that can be viewed on their mobile phone. In a marketplace where competition is greater than ever, using Vizoport technology can offer a distinct advantage by changing the way people see properties.

Vizoport innovations help people get a sneak peak inside condominiums

In terms of residential real estate, Vizoport focuses mostly on condominiums, although the technology can be used for villas, detached housing or any type of dwelling. The goal is to ensure people can get as close to a property as possible using only a phone or computer. Let’s take a look at some of the company’s innovations that make this possible.

3D Tours
– Using photography can’t always capture the uniqueness of a residence. What’s more, size oftentimes fails to translate between photos and real life. Property seekers may see photos of a condominium unit online and think it looks too big or too small when it could, in fact, actually be exactly what they’re looking for.

This is where 3D Tours from Vizoport can make a huge difference. The company maps and scans the entire unit to create a fully immersive showcase where people can look at every inch of the property from the comfort of their smartphone or laptop. Additionally, both doll house and floor plan views are incorporated into the 3D Tours to improve the experience while special tags highlight notable features and add an extra level of interactivity.

A look at the dollhouse view from the Vizoport 3D Tour

It is estimated that 75 percent potential clients are more interested in immersive viewing, such as a 3D Tour, than only seeing photos. International property seekers benefit the most from this type of technology as they can narrow their search before they arrive in a new country. Once here, they will already have a shortlist of units they want to see in person. And in most cases they will be much further along in the decision making process since the visit will be more about confirming what they saw online as opposed to making a decision on if they like it or not.

VR Ready Tours
– Similar to the 3D Tours, Vizoport can create Virtual Reality Tours of condominiums. With VR technology becoming more commonplace, this is something property professionals are starting to leverage. For users, VR Ready Tours put them in the condominium unit allowing them explore just as they would at an in-person open house. But unlike an open house, they can visit the VR Tour whenever they want and as many times as they like.

Digital Storybook
– Vizoport can help real estate agents and developers create a Digital Storybook that captures all of the digital marketing efforts for a project or unit to create a single narrative designed to capture the imagination of those looking for property.

All of what Vizoport offers, including tours, floorplans, digitally enhanced photos and more, is collected in one place that is easy for users to engage with. Instead of the individual marketing elements being disconnected, it is all tied together to tell the story of the property. The showcase is also easily sharable across social media platforms ensuring high visibility.

Vizoport’s progressive perspective embraced by market leaders

Vizoport uses cutting-edge technology to ensure high-quality scans

There is a chance you may have seen Vizoport’s innovations in action. The company has worked with some of the most notable developers, agents and hospitality businesses in the region. Thai developers Sansiri and Country Group Development both trust Vizoport to help bring their residential creations to life.

Meanwhile, Swissôtel and Solitaire Hotel are just a couple of the hotels who have turned to Vizoport to find ways to impress potential guests.

Perhaps no business has utilised the full potential of Vizoport innovations quite like Flat Monthly. The online rental real estate solution, which operates in Bangkok, Singapore and Kuala Lumpur, even created VR lounge, where tenants can inspect 15-20 apartments in the space of an hour without needing to deal with traffic. Thanks to help from Vizoport,
Flat Monthly
 has become the go-to place for rentals in Southeast Asia.

At the end of the day, all of these firms understand that their potential clients need to have access to an immersive experience on a 24/7 basis. Having photos is no longer enough to be successful in hyper-competitive industries such as real estate or hospitality. No one in Southeast Asia is helping property professionals stay on top of this changing trend quite like Vizoport.

For more information on Vizoport, please visit:

www.vizoport.com

If you’re a real estate agent or developer who would like to know more
on
 how Vizoport can help you, please contact: +66 02-662 1795 or e-mail:
[email protected]


Meet the Dot Property Southeast Asia Awards 2019 winners

More than 200 of real estate’s best and brightest came to Bangkok for the Dot Property Southeast Asia Awards 2019 presentation ceremony. Nearly 50 awards were presented on the evening with winners hailing from Vietnam, the Philippines, Thailand, Malaysia, Indonesia and Singapore. Here is a look at those who took home awards.

New Nordic Group

Best Developer CSR – New Nordic Group

Best Innovative Developer – New Nordic Group

Best Innovative Investment Product – New Nordic Group

New Nordic Group has revolutionised property investment in global tourist destinations for 10 years now and the developer’s work in Thailand has been truly innovative. The company’s unique approach allows New Nordic Group to offer property investment that is less speculative and more transparent while tapping into Thailand’s stable tourism market. The developer is also committed to giving back through its numerous CSR efforts.

The One Estate Development Company Limited

Best Boutique Developer – The One Estate Development Company Limited

Best Low Rise Resort Condominium – Carapace Huahin-Khaotao

Best Condotel Architectural Design – Carapace Huahin-Khaotao

The One Estate Development Company Limited is committed to creating boutique developments that meet the needs of residents. This can be seen at one of its newest developments, Carapace Huahin-Khaotao. The project features both a low-rise hotel and condominium with both having direct access to the development’s beach club. The result is a residential estate good for vacation stays or residential usage.

ARENA Cam Ranh

Best Hotel Architectural Design – ARENA Cam Ranh

The magnificent ARENA Cam Ranh is designed by Finko International Design Alliance who has created a true hotel masterpiece. Located in one of Vietnam’s up-and-coming tourist destinations, ARENA Cam Ranh is already among the most talked about resorts in Southeast Asia due in no small part to the hotel architectural design.

Malibu Hoi An

Best Luxury Condotel Architectural Design

Best Beachfront Luxury Resort Villa Development

Malibu Hoi An from Vietnamese developer Bamboo Capital is a development that is luxurious and has a stunning design that is perfect for condotel investors. With units managed by the Radisson Hotel Group, Malibu Hoi An features architectural design and 5-star amenities that cater to high-end guests.

Whizdom The Forestias

Best Green Development

The outstanding Whizdom The Forestias from Thai-developer MQDC is not only the biggest property development in Thailand, but the greenest as well. The approximately 636,800 square metre complex is centred around an actual forest with developer MQDC rescuing old trees from around Bangkok and giving them new life inside Whizdom The Forestias.

Grand Florida Beachfront Condo Resort Pattaya

Best Beachfront Condominium

Blue Sky Group picked a special place in Pattaya’s Jomtien area for Grand Florida Beachfront Condo Resort Pattaya. It is a short-drive away from U-tapao International Airport and is also close to the express motorway that connects the region to Bangkok. The project itself has a unique Florida theme with a number of different unit types available.

PAX SKY

Best Serviced Office Provider

PAX SKY is a gamechanger when it comes to the serviced office scene in Southeast Asia. The company focuses on providing customers with an office address that is luxurious, convenient and optimal. PAX SKY’s goal is to ensure its clients always feel like they belong.

Cam Lam Invest Company Limited

Best Lifestyle Developer

Best Beachfront Resort Development – Cam Ranh Bay Hotels and Resorts

Best Resort Architectural Design – Cam Ranh Bay Hotels and Resorts

The Dot Property Southeast Asia Awards 2019 was a huge night for Cam Lam Invest Company Limited with the developer taking home three awards including Best Lifestyle Developer. The firm’s impressive Cam Ranh Bay Hotels and Resorts was one of only a handful of projects to win multiple awards at the event.

Gold Residences

Best Township Development

SM Development Corporation has worked tirelessly to equip Gold Residences with a seamless fusion of architecture and luxury. This has given the township a dynamic look unlike anything found in Metro Manila. The project’s beautiful gold façade can be seen from those flying in and out of the nearby Ninoy Aquino International Airport.

Mantra Beach Condominium

Best Affordable Condominium

Mantra Beach Condominium is another development from Thailand-based Mae Phim Property that offers unmatched value for money. From superb amenities to well-designed units, buyers of a residence at Mantra Beach Condominium are guaranteed of receiving a great investment.

AE Charming Cua Tung Beach And Resort

Best Beachfront Township Development

Vietnam’s central province of Quang Tri is slowly becoming a tourist hub and AE Charming Cua Tung Beach And Resort will help put the region on the map. Set to open in 2021, AE Corporation is developing a wide-ranging township that will be a hub of activity in Quang Tri.

Stella Mega City

Best Sustainable Development

Best Housing Development

Stella Mega City from developer Kita Group is an ambitious development featuring infrastructure and surrounding facilities designed to meet the needs of the modern resident. There are 5-star hotels, commercial centers, sports complexes and event centers with each of these incorporating sustainable technologies. Stella Mega City also features numerous housing types that have been developed to support families of all sizes.

Sunshine Group

Best Innovation and Technology

Vietnam’s Sunshine Group has been committed to bringing the latest innovations and technologies to all of its projects. An example of this is Sunshine Diamond River, a development that has redefined what it means to be a green building. Several advancements have been incorporated into the development that ensures fresh air, cool spaces and a pleasant living experience.

Anchan Hills

Best Luxury Villa Development

Anchan Hillis is located in one of the most desirable locations on the island of Phuket in Thailand. Developer Pearl Island Properties use only high-end materials while also utilising luxurious architecture and interior design details. The goal of the developer is to ensure that every villa at Anchan Hills meets the requirements of even the most discerning buyer or investor.

Melia Phuket Karon Residences

Best Resort Residence

Back by the European Melia hotel brand, Melia Phuket Karon Residences is redefining the resort residence experience in Phuket. From spectacular amenities to its very own beach club, and some amazing views, the resort has it all. What’s more, Melia Phuket Karon Residences has a low-density design to ensure a pleasant experience without the crowding found in other tourist resorts.

Wynhdam Garden Irin Bangsaray Pattaya

Best Condotel Development

Best Condotel Interior Design

There are condotels and then there is Wynhdam Garden Irin Bangsaray Pattaya from Irin Property Co. Ltd. The property is in a great location and has a strong brand backing it, however, the project’s design is where it really stands out. The interior design of each room focuses on modern luxury that caters to the unique needs of travellers. Each room at Wyndham Garden Irin Bangsaray Pattaya is also equipped with a Jacuzzi bathtub ensuring a peaceful space. When the property opens, it is sure to be popular with travellers from around the globe.

Nam Group

Breakthrough Developer

Best Innovative Complex Development – Thanh Long Bay

Vietnamese developer Nam Group has arrived on the scene with great developments such as Thanh Long Bay that bring something new to the market. The homebuilder uses local market insights to ensure its projects meet the real needs of the public. Nam Group must also be commended for its top-notch designs and sustainability efforts that can be found at its projects throughout Vietnam.

Amani Grand Citygate Davao

Best Mid Range Condominium Development

Cebu-based Grand Land looked to Davao for one of its first projects outside of its homebase. The developer launched the Amani Grand Citygate Davao and it is a project that has been well received by both residents and investors who can look forward to strong rental returns alongside capital appreciation in the years to come. Grand Land has used its deep understanding of the market to create a condominium that has helped elevate the standard of real estate in Davao.

BelHomes Hai Phong

Best Urban Lifestyle Development

BelHomes Hai Phong is being developed by VSIP Hai Phong who are delivering the project with high-class urban areas that will meet Singaporean standards. Residents can enjoy a relaxing lifestyle where they can indulge in a fresh living space, clear roads, harmonious green areas and unmatched convenience.

Jewel Changi Airport

Best Retail Development

Best Landmark Destination

Since opening in early 2019, Jewel Changi Airport has become a landmark destination that revolutionised both retail and airport experiences. The entertainment and retail complex from developer CapitaLand features wonderful nature experiences that have made Jewel Changi Airport one of the most Instagramable spots not just in Singapore, but the entire world. From its plethora of retail options to the ambiance that allows visitors to feel as if they have entered a different world, Jewel Changi Airport is a must visit destination.

Tun Razak Exchange

Best Integrated Development

Tun Razak Exchange is no ordinary development. The project aims to be Kuala Lumpur’s new CBD as well as Malaysia’s International Financial District with office space, residential buildings, parks, hospitality options and retail centres all integrated into a massive, 70-acre complex. The development’s centrepiece just may be Exchange 106, a building that will become Southeast Asia’s tallest tower once finished.

MNC Smart City

Best Smart City

MNC Land envisions MNC Smart City as the “City of the Future”. A place where Indonesia’s growing, dynamic population can enjoy the convenience and comfort of a sophisticated urban living experience. Located on the outskirts of Jakarta, MNC Smart City is close to several of the city’s under construction infrastructure projects that will ensure easy transportation for residents. The developer continues to craft the city’s masterplan that will feature the latest in smart city infrastructure.

KL Eco City

Best Transit Oriented Development

KL Eco City from Malaysian developer SP Setia promises to be a world-class, city-within-a-city anchored by commercial offices, retail outlets, luxury residential towers and a hotel. Additionally, KL Eco City will act as an integrated rail hub that comprises the existing Abdullah Hukum LRT station along with the new KTM Komuter station. The transit oriented development also has several innovative pedestrian and road features designed to provide a seamless travel experience.

Congrats to all of Dot Property Southeast Asia Awards 2019 winners!


Meet the Dot Property Vietnam Awards 2022 project winners

Phu My Hung The Horizon from Phu My Hung Development Corporation won Best Transit Oriented Development Vietnam 2022

Dot Property Vietnam Awards 2022 project winners are outstanding in their own unique ways. Each one excels in their category and has contributed to the improvement of the country’s property market. This year saw condominium, resort and township developments honored.

Dot Property Vietnam Awards 2022 project winners

Best Transit Oriented Development Vietnam 2022

Phu My Hung The Horizon from Phu My Hung Development Corporation

Phu My Hung urban area is among Ho Chi Minh City’s most exciting areas. With a new central business district and public transportation set for the region, it will become a strategic place for both work and life. No project embraces this quite like Phu My Hung The Horizon.

As one of Vietnam’s first transit-oriented developments, it has brought a fresh and important project type to the country. Phu My Hung The Horizon proudly provides an All-In-One lifestyle connecting residents, employees and those exploring the neighborhood. What’s more, it serves as a vital connection to Ho Chi Minh City and the Mekong Delta region.

Best Luxury Residences & Resort Complex Vietnam 2022

Venezia Beach from Hung Vuong Developer

While Vietnam has a number of stunning resorts, Veneizia Beach is more than a place to holiday. It is a destination that should not be missed by tourists. The size and scale are staggering with hotels, shopping, entertainment, MICE facilities and even the ability to host cruise ships incorporated into the complex.

But behind the quantity is quality. Hospitality projects at Veneiza Beach will be managed by leading brands, such as Marriott International and Best Western. Meanwhile, world renowned architectural partners have been entrusted with the design.

Best Mid-Market Condo Development Vietnam 2022

Phu Dong Sky Garden Condo from Phu Dong Group

Phu Dong Sky Garden brings several elements together in order to offer a quality living experience to today’s residents, especially young ones. Situated close to District 1 in Ho Chi Minh City, this condominium has been created to fill the needs of people residing and working in Ho Chi Minh City.

The project boasts high-class and elaborate facilities that are usually found in more upscale developments. However, Phu Dong Sky Garden is priced competitively to ensure mid-market buyers have the best within their budget. Small touches, such as fresh wind and natural light, can be seen and felt in all residences to assure a healthy experience.

Best Lifestyle Township Development Southern Vietnam 2022

TNR Grand Long Khanh from TNR Holdings Vietnam

TNR Grand Long Khanh is the only urban project in Long Khanh city and it features a prime location next to the arterial roads connecting Ho Chi Minh City. And while surroundings play a vital role when it comes to lifestyle, it is not the only factor.

Liveability is extremely important, and this is another facet where TNR Grand Long Khanh shines. The township features contemporary green living spaces that have been planned and designed according to the model of a modern urban area. These are supported by lifestyle amenities and many other features.

Read More:

Dot Property Vietnam Awards 2022 Honors 48 Winners As Resiliency, Recovery and Sustainability Take Center Stage


Meet the dynamic female leaders writing the next chapter of real estate in Southeast Asia

Dynamic female leaders are playing an important role when it comes to property in Southeast Asia

This article on dynamic female leaders in the Southeast Asia real estate sector appears in the latest issue of Dot Property Magazine.
Click here to read it
.

Southeast Asia is a leader when it comes to women in business. This isn’t to say the situation is perfect or more work can’t be done towards gender equality. However, the region is more progressive than other parts of the world.

For example, the CS Gender 3000 report from Credit Suisse found the Philippines had the highest percentage of women in management globally. Meanwhile, Malaysia, Singapore and Thailand were all in the top ten.

Additionally, the same report found that Singapore was home to the most companies led by female CEOs. Thailand had the highest percentage of female CFOs in the world.  And these trends go beyond the boardroom. Women’s participation as business leaders isn’t simply limited to large corporations.

A 2018 study from Mastercard showed a growing number of women are becoming entrepreneurs in Southeast Asia. Research highlighted the fact Vietnam has the sixth highest percentage of women-owned businesses globally with Singapore and Thailand also ranking highly.

These numbers are promising, but more work is required to eliminate the gender and income gaps. If women were working to their full potential with equal pay and support, the global GDP would increase by USD28 trillion by 2025, according to estimates from McKinsey. While in some places this issue is portrayed as a divisive subject pitting men against women, the reality is that a world without gender equality actually hurts everyone.

Four dynamic female leaders writing the next chapter of real estate in Southeast Asia

The real estate sector has been at the forefront of gender equality in the region. Dynamic female leaders can be found at major developers, top real estate agencies and just about everywhere else in the industry. These are just a few of the dynamic female leaders writing the next chapter of real estate in Southeast Asia.

Nguyen Thi Thanh Tu

Chairwoman, TLM Corporation

Vietnam

Nguyen Thi Thanh Tu (right) at the Dot Property Vietnam Awards 2019

Nguyen Thi Thanh Tu is truly a pioneer when it comes to real estate in Vietnam. As Chairwoman of TLM Corporation, she is at the helm of the country’s newest and most ambitious developer. The firm launched several exciting projects over the past few years, including King Bay Ecological & Integrated Township.

The strategically located development is unlike anything else currently in Vietnam. Perhaps the most unique aspect of King Bay is the feng shui phoenix terrain that is believed to bring fortune to the owners. This design allowed TLM Real Estate Group to incorporate several unique green elements into the development while catering to the preferences of local homebuyers.

It’s all part of TLM Corporation’s larger vision. Thanh Tu doesn’t simply want to be a real estate developer. She wants the company to work hard towards creating a better community, a better environment and a better place to live through sustainability and CSR outreach.

She believes it is important to achieve business development goals in parallel with contributing to social stability and development. This is done by making a positive impact that nurtures a community of sustainability and kindness.

Since entering the real estate sector in 2013, she has overseen numerous CSR efforts. At TLM Corporation, Thanh Tu has organized countless initiatives that helped local communities and supported various charitable causes.

TLM Corporation has launched several world-class projects that embrace sustainability and environmentally friendly design. But this is only part of the story. For Thanh Tu, it is vital for the developer to elevate local communities and create something everyone enjoys.

“Our relentless efforts in investing and developing high-class real estate projects, creating green eco-urban areas with modern facilities and meeting the increasing demands of customers is in line with the general real estate development trends of the world,” Thanh Tu explains. “Our mission is to also contribute to the building of businesses associated with the development of the community and to join hands to help the disadvantaged in our society.”

Leong Kit May

Chief Executive Officer/Executive Director, Axis REIT

Malaysia

Leong Kit May has overseen a period of success and growth at Axis REIT

Leong Kit May has accomplished a lot since joining Axis REIT in 2006. She was promoted to Chief Financial Officer in 2008 while overseeing the conversion of Axis REIT into Malaysia’s first Islamic Office/Industrial REIT.

In 2011, Kit May was appointed to the Board of the Managers as an Executive Director and would eventually be named Chief Executive Officer five years later. Her journey from accountant to top job in an industry dominated by men was surprising to just about everyone, even herself.

“I never imagined myself in a male-dominated profession. I was ambitious but that’s because I wanted a better quality of life for my family and parents. I only envisaged myself being an accountant or CFO after I graduated. But I would say that my accounting qualification provided me with a financial perspective in dealing with business and charted the foundation of my experiences. One thing led to another and I am blessed to be where I am today,” Kit May told The Edge.

She has overseen a period of success and growth at Axis REIT with the company now boasting a diverse portfolio of 48 properties. Kit May has been instrumental in pivoting the REIT towards industrial and logistics real estate while also overseeing its entry into property development.

In addition to being one of the country’s most successful REIT’s, Axis also has one of Malaysia’s most diverse management teams. Women currently hold eight of ten management positions at Axis REIT.

Esther An

Chief Sustainability Officer, City Developments Limited

Singapore

Esther An was honored as an SDG Pioneer for Green Infrastructure and A Low Carbon Economy by the UN Global Compact in 2018

While sustainability is driving property development today, it was a total afterthought when Esther An first joined City Developments Limited in 1995. For more than two decades, she has been championing green building and sustainability in Singapore by embracing the UN Sustainable Development Goals (SDGs).

“In the mid-1990s, sustainability and climate change were not familiar concepts to many in this part of the world. However, greater global awareness of the impact of climate change and increasing recognition of the strategic connection between sustainability and business performance has been the driving force for companies to be proactive rather than reactive in sustainable development. For instance, businesses can no longer ignore the impact of climate change risks on their bottom line,” Esther said in an interview with Green in Future.

Her efforts have not gone unnoticed. She was honored as an SDG Pioneer for Green Infrastructure and A Low Carbon Economy by the UN Global Compact in 2018. However, her true impact as Chief Sustainability Officer can be seen throughout City Developments Limited’s portfolio.

Tree House condominium in Singapore was the Guinness World Record holder for ‘Largest Vertical Garden’ upon completion in 2014. Of course, it looked cool. But more importantly, this feature cut heat absorption which significantly reduced the need for air conditioning.

City Developments Limited has also launched Singapore’s first eco-mall, City Square Mall; Singapore’s first zero energy green art gallery; and the first CarbonNeutral® development In Asia Pacific during Esther’s tenure as Chief Sustainability Officer.

Grace Rachny Fong

Executive Director, Century21 Cambodia/Vice President, Cambodian Valuers And Estate Agents Association

Cambodia

Grace Rachny Fong has overseen a major expansion of Century21 Cambodia

Grace Rachny Fong has been a trailblazer in Cambodian real estate. She founded her own agency, was the first woman from Cambodia to receive a certificate of training from the National Realtor Association and has been recognized as an industry leader on several occasions.

She has overseen a major expansion of Century21 Cambodia which now has 38 branches across the country. Additionally, Grace currently serves as Vice President of the Cambodian Valuers And Estate Agents Association.

As one of only a handful of female real estate leaders in Cambodia, Grace is a positive role model. She has taken part in several talks aimed at encouraging more women to enter the industry.


Meet some of the most impressive designs in Southeast Asia

Best Luxury Villa Development Landscape Design went to Pirom at Vineyard

There are many types of designs in the real estate sector. Architecture, interior and landscape are among the most well known, but even fields like recreational design have become more important in recent years. The Dot Property Southeast Asia Awards 2020 saw some of the region’s most impressive designs honored. Let’s check them out.

Best Luxury Villa Development Landscape Design – Pirom at Vineyard

Pirom at Vineyard is a paradise of unspoiled land nestled in Khao Yai’s gorgeous hillside two hours away from Bangkok. Half of the spacious development has been dedicated to common areas and gardens ensuring a connection between land and architecture. Harvard Graduate School of Design alum Wannaporn Pui Phronprapha of P Landscape planned Pirom at Vineyard in a way that allows for privacy and undisturbed views of nature for every residence.

Best Luxury Condo Architecture Design – The Matrix One

Best Luxury Condo Architecture Design – The Matrix One

With its sleek design and prime location, The Matrix One has quickly become one of the most in-demand residential developments in Hanoi. The project has created a new living standard by fully converging modern conveniences with classy living values. The stunning architecture design incorporates the best in luxury elements to create a world class condominium.

Best Luxury Condominium Recreational Design – THE ESSE Sukhumvit 36

Best Luxury Condominium Recreational Design – THE ESSE Sukhumvit 36

No residential development has the scope of recreational facilities that THE ESSE Sukhumvit 36 has. The project has gone well beyond the standard range of amenities to craft a place where residents can live their best life. There are diverse gardens throughout the condominium that intertwine with other spaces. That’s in addition to the Sky Theatre, golf simulator and other facilities on-site. What’s more, the design of these has been implemented to guarantee privacy for residents.

Best Luxury Villa Development (Architectural Design) – Anchan Hills

Best Luxury Villa Development (Architectural Design) – Anchan Hills

Anchan Hills is a villa development in Phuket unlike any other. The project utilizes a modern Balinese style that allows for a luxurious living experience. The architectural design creates a harmony between the internal and external spaces that embraces the island’s tropical charm. Two of the main features of each villa are the special wooden roof design and green slate walls. These two elements allow for a natural appearance that provides a relaxing ambiance to each villa.


Metro Manila condo demand takes off as people return to work

This article on Metro Manila condo demand appeared in the Dot Property Group Metro Manila Condo Market Report 1
st
 Half 2022.
Download it here for free
!

The return to work has caused Metro Manila condo demand to soar during the first half of 2022. Between the fourth quarter of 2021 and first quarter of this year, Dot Property Group, the Philippines largest real estate network, recorded a 17.8 percent increase in inquiries. That was followed by a bigger jump in the second quarter when interest rose by 28.2 percent when compared to the previous three months.

Companies resumed in-person operations in the early stages of this year with most being 100 percent onsite by March. Many employees who had retreated to the suburbs during the pandemic began actively looking for condo units closer to the workplace.

This is in line with more general real estate market trends being seen in Metro Manila at the moment. According to Santos Knight Frank, retail vacancy fell to 4.6 percent in the second quarter which is nearing pre-pandemic levels. Meanwhile, Leechiu Property Consultants reported that office demand doubled in the National Capital Region during the April-June period.

Further highlighting the reality that more people want to live closer to work is the fact Taguig and Makati were the locations with the strongest Metro Manila condo demand. These two areas, which are home to several key business districts, accounted for 46.1 percent of all inquiries during the first half. Quezon City, City of Manila and Pasig round out the top five locations for condos.

Related:

Home prices rise across the Philippines, Metro Manila sees 9.5% increase

Metro Manila Condo Demand By Price in the First Half of 2022 (% of Total Inquiries)

<PHP5 Mil

38.2%

PHP5-10 Mil

22.2%

PHP10-20 Mil

17%

PHP20-50 Mil

15.7%

>PHP50 Mil

6.9%

Key stats from the Dot Property Group Metro Manila Condo Market Report 1st Half 2022

In terms of cost, Metro Manila condo demand was spread across the market. Units priced at PHP5 million and below were most popular and they comprised nearly 40 percent of all inquiries made to the Dot Property Group during the first six months of 2022. The mid-range and luxury segments also saw strong demand.

Studio and one-bedroom units made up almost half of all interest. This comes as no surprise given these make up the bulk of supply. However, multi-bedroom units do appear to be more popular post-pandemic and developers will need to take this into account when launching future projects in Metro Manila.

For more insights,
download your copy of the Dot Property Group Metro Manila Condo Market Report 1
st
 Half 2022


Metro Manila condo market keeps climbing while hope remains outside NCR

The Metro Manila condo market continues to perform with strong demand propelling the entire residential real estate sector in the Philippines. Data from Bangko Sentral ng Pilipinas (BSP) found the average price for condos in the country during the second quarter grew by 9.6 percent when compared with the same period last year.

The National Capital Region (NCR) saw residential property prices increase by 5.2 percent, however the number was brought down by a decline in prices for single-detached houses and townhouses.

Demand for home loans was strongest in Metro Manila with BSP noting that 43 percent of all residential loans granted came from the NCR. The bank added that the bulk of these loans were for condo units.

Looking beyond the Metro Manila condo market

While the Metro Manila condo market is seeing the bulk of the action, experts remain upbeat about prospects elsewhere in the country.
Lobien Realty Group Inc. Chief Executive Officer Sheila Lobien explained to The Manila Times
 that areas such as Pampanga, Cebu and Davao are all promising.

“Cebu is home to the biggest masterplanned developments in the Visayas with numerous options for office, commercial and residential needs,” Lobien stated. “The province also has several infrastructure on the rise to cater to increasing demand in the real estate sector.”

For many developers in Cebu,
2018 was a great year with sales last year surpassing the expectations
. Tourism has been a key driver for the market with the opening of Terminal 2 at Mactan-Cebu International Airport bringing a record number of visitors to the region.

“The year 2018 is the best year for us compared to previous years. Our sales registered the highest since we entered the real estate business in Cebu,” AppleONe Properties’ President Ray Go Manigsaca told Philstar.

Lobien also highlighted Pampanga as an area that has a well-positioned property market. The government’s infrastructure push has moved into the province with PNR North 1 line among the notable transportation projects underway.

See more:
Getting to know Pampanga, an up-and-coming property hotspot

The mass transportation railway will eventually connect Metro Manila with Clark International Airport and New Clark City, significantly reducing travel times in the process. Additionally, Clark International Airport is set to open a new airport terminal in 2020 with two more terminals in the planning stage. All of this work should help boost the local property market in the coming years.


Mining for energy in the dump also stops plastic waste leakage

INSEE Ecocyle mines landfills in Thailand for plastics that can be used as refuse-derived fuel

Plastics are unavoidable in Southeast Asia. Plastic waste leakage into the ocean continues to be a major problem for many countries in the region. In a special three part series, Dot Property will look at the issue, a creative solution and what the future holds for ocean plastics. (
Click here to read part one
).

Stopping plastic waste leakage from landfills is necessary to prevent more plastics from entering the ocean. Especially in rural parts of Southeast Asia where natural disasters like floods see waste from landfills enter local water sources. These water sources feed into oceans where it joins the 12.8 million metric tonnes of plastic already polluting the waters.

The good news is that there is a way to recover some of the plastic currently settled in Southeast Asian landfills. Not only can it be removed, but this material may have some value after all.

Landfills are rich in refuse-derived fuel (RFD). Waste, such as plastic, and other materials can be used as fuels in a cement kiln providing they meet certain specifications. In most cases, these materials need to be pre-processed before use to ensure effectiveness. After that, it is then fed to the cement kiln where it is used to help generate the extreme temperatures, greater than 1800 degrees Celsius, required.

Before starting the process of RDF plastic extraction at landfills in Thailand, the municipality or landfill owner must give approval. Once that has been achieved, a mobile waste separator moves in to begin the process of waste segregation.

A look at the RDF plastic extraction setup

A crew armed with an excavator, wind shifters, shredders and other equipment are tasked with the job. A clear area is needed and a steady surface must be created, two things not always readily available at most landfills. Safety is of paramount importance with the right equipment used and the highest standards being met.

“Of course, this is not a fun job. Landfills are difficult places to work in. It smells and there is quite a bit of discomfort,” Dr. Vincent Aloysius, CEO at INSEE Ecocycle, states. “That being said, the teams who do undertake this task relish the challenge. They are pumped up about it actually. It’s fantastic to see. They believe they are doing something good and their work effort to maintain the operation is amazing. You will never see people this excited to be at a landfill.”

The dirty details of RDF plastic extraction

So what are these excited folks looking for? Plastics. And not the big pieces you’d expect. Little scraps of plastic that have been soiled are mined for. The process is complicated since various types of plastics have co-mingled with unusable materials. And as you would expect at a landfill, everything is soiled, making RDF plastic extraction that much harder.

“In order to find these materials, an area of the landfill is essentially mined in the same way gold or other minerals are discovered. The shifters and shredders go through the waste uncovering the bits of plastic that can be collected,” Dr. Aloysius explains. “This is then sent to an INSEEE Ecocycle facility for furthering polishing where it finally becomes a useable RDF.”

Roughly 10,000 tonnes of RDF plastic waste is extracted and processed by INSEE Ecocycle on its own while additional waste is sourced from landfills operators across Thailand each month. This may not seem like a lot, but by finding and extracting it, you remove the possibility it can ever enter the ocean.

“There is so much plastic out there that we are hardly scratching the surface. We want to stop the leakage of plastic waste and by mining for RFD in landfills, you’re removing a source of this,” Dr. Aloysius points out.

Even with these efforts, it may be some time before all recoverable plastics in landfills are removed. In part three of our series on ocean plastics, we conclude with a look at the future of plastic waste leakage including what more can be done to stop it from reaching the ocean.


MM2H: a resounding success

Figures just in reveal how successful the Malaysia My Second Home programme is.

The Malaysia My Second Home (MM2H) programme has contributed to the country coming sixth place in the International Living’s 26th Annual Global Retirement Index for 2017. Aside from this placing, it has also generated considerable revenue for different segments across the country.

MM2H has generated MYR 4.9 billion for the country since 2012. This figure is for real estate alone. The scheme has also injected MYR 12.8 billion to the economy as a whole. This is in addition to MYR 52 million in visa fees, MYR 4.9 billion in fixed deposits and MYR 148 in automobile purchases. Figures not be taken lightly.

The MM2H scheme permits foreigner retirees to own property in return for a ten year visa. One reason that makes Malaysia the
ideal place to invest in property.
 Response to the programme has been
overwhelming
. Over one million applications have been received in a six year period. However Malaysia have only approved 33,300 applicants. The country want to ensure that they only allow credible applicants rather than just opening the floodgates.

These figures are according to the Minister of Tourism and Culture. The announcement comes when the ministry and central Bank of Malaysia, Bank of China, have renewed terms for MM2H. The purpose is to expand the scheme’s reach across China in order to lure more participants in.

China makes up the highest number of approved retirees from the successful applicants that span 126 countries. Next is Japan which regards Malaysia as being the place most liked for long stay destinations by their residents. A accolade that has remained consistent over the last 11 years. Bangladesh follows next and then the UK, Iran, Singapore, Taiwan, Korea, Pakistan and India.


More caution in Asia-Pacific

Malaysia does not features in a list of where overseas institutional investors intend to invest in the Asia-Pacific region during the next 12 months.

According to real estate firm Colliers International in its
Global Investor Outlook
 research report, in terms of a portfolio strategy most investors looking at Asia (56 percent) indicated a requirement to expand their real estate portfolio over the next 12 months, although this is lower than last year’s 74 percent.

Many investors are taking a more cautious approach as China’s economic slowdown has translated into dampened activity in the China property sector despite relaxation of legislation.

A similar decline was observed among Australian and New Zealand investors, with 48 percent expecting to be net buyers in the 12 months compared to 61 percent last year.

Fewer investors planning to take more risk

The number of Asian investors willing to take more risks in the next 12 months has declined to 33 percent from last year’s 58 percent. This has partly been due to investors’ preference to wait for a clearer direction on where the economy is headed, Colliers noted.

A key concern mentioned by an US-based private equity fund is currency volatility when investing in markets like India and China, which could significantly impact investment returns on exit.

Not surprisingly, economic growth and sovereign/political risks were mentioned as the crucial market factors that will likely affect the global property outlook in the next 12 months.

Although overwhelmingly positive about the market, Australian and New Zealand investors are rather risk averse. Very few of them (35 percent) are prepared to take on higher levels of risk to achieve higher returns. In that respect, they are among the most risk averse investors globally.

Japan and Australia are overseas investors’ top markets

Australia and Japan are global investors’ preferred destinations in Asia-Pacific in the next 12 months. While the Australian market is traditionally dominated by domestic investors, a third of the total is currently from offshore. China is now the largest offshore investor in Australian commercial property.

When taking into account capital coming from outside Asia-Pacific only, Japan (a primary target for 59 percent of offshore investors with an Asia-Pacific focus) leapfrogged Australia (53 percent), with this duo being followed by Hong Kong (33 percent), China (31 percent) and Singapore (30 percent).

On the other hand, South Korea, New Zealand, Taiwan and India were quoted more frequently as secondary targets by this group of investors.

Tokyo and Sydney head-to-head

Given these country preferences, it does not come as a surprise that Tokyo (33 percent) and Sydney (29 percent) are overseas investors’ preferred cities in Asia-Pacific during the next 12 months, followed by Melbourne (23 percent).

This is consistent with global capital flows data year-to-date, where Tokyo and Sydney are two of the three Asia Pacific cites in the top ten of the most popular markets for cross-border investors, in seventh and fifth place respectively. Interestingly, they’re both preceded by Shanghai in third place.

Most of these cities also feature in Asia-Pacific investors’ primary targets list: globally, Asian investors favour Singapore (41 percent) over Tokyo (38 percent), followed by Sydney (31 percent) and Melbourne (28 percent).

According to a Hong Kong-based private equity fund, Japan is one of the domestic markets they will be looking into as the country offers high liquidity, recording a high volume of deals involving office assets over the year. Other markets favored by Asian capital in the survey include first-tier cities in China (e.g. Beijing, Shanghai) and Hong Kong.

In addition to Sydney and Melbourne, Australian and New Zealand investors will stick to their domestic market and target primarily Brisbane and Auckland.


More interest in SE Asia

Interest from Europe and the United Kingdom in overseas property investments in both Thailand and the Philippines improved during April, according to the monthly
Top of the Props
 chart from U.K.-based property website T
hemovechannel.com
.

Thailand, after climbing to a top-five spot in the middle of last year, was the 13
th
 most-searched overseas property destination on the website last month, with 0.70 percent of all searches.

The Philippines, which overtook Thailand to hold the crown of the most popular destination for overseas property on the website in February, was ranked 14
th
 last month with 0.61 percent of all searches.

Related story:
Philippines tops Thailand

Thailand’s position in April was three places higher month-on-month while the Philippines rise seven spots.

Indonesia and Cambodia are the only other countries from Southeast Asia to feature in the top 50 of most-searched destinations on the website.

Elsewhere, the monthly survey revealed that property investors are still confident in the UAE market as it entered the top 10 destinations for the second time this year during April.

While developers in Dubai push ahead with their construction plans, buyers are also continuing with their property purchases. The UAE rose 10 places in April’s Top of the Props chart to seize 8th spot from Brazil, accounting for 2.39 percent of all enquiries on
TheMoveChannel.com
. Demand also surged for property in the Dominican Republic, which leapt 10 places into 9
th
 place, accounting for 1.44 percent of last month’s activity.

At the top end of the chart, the United States remained in the number one destination, making up 11.96 percent of enquiries (down slightly from 13.45 percent). Portugal stole second place from Spain with its share of enquiries increasing to 4.49 percent, ahead of Spain’s 4.16 percent).

To read the full April 2016 Top of the Props chart click here.


More questions than answers

Myanmar’s much-anticipated and long-awaited new Condominium Law will, in principle, allow foreign buyers and investors to own up to 40 percent of high-rise buildings in the country.

But the law, which was passed late last month, is widely considered by experts to be vague and could be contradictory to other existing laws within the country.

The new Act allows overseas buyers and investors to buy units on the sixth floor or higher, but they are not allowed to manage properties. This could be interpreted as being not able to rent them. They will also be able to acquire shared ownership of the land where the condo is built.

Many industry experts have viewed this latest move as an improvement over previous property laws, especially with the advent of AEC 2015 at the end of last year, where more Southeast Asian countries are expected to relax foreign ownership laws over the medium- and long-term.

Speaking to
Dot Property Group
 Tony Picon, Managing Director of Colliers International Myanmar based in Yangon, said: “After the news of the new law it has gone quiet so more questions than answers.

“The 40 percent foreign quota is encouraging, but there are still many issues such as how this chimes with the current Companies Law,” he added.

Picon said the Companies Act is due to be amended to fit with the new property laws.

It’s clear the new Act needs clarification, but it has to be a step in the right direction – even though the number of condominiums in the country is extremely small compared with other Southeast Asia countries.

The new National League for Democracy was sworn in yesterday (February 1).

Main image: A
rooftop penthouse for lease through Colliers International Myanmar at Dagon Centre in Yangon, Myanmar
.


Branded residences are nothing new in Asia. Both hospitality and design firms have been lending their brands and the seal of approval that comes with it to residential developments throughout the region. However, Asia’s most exclusive branded residences offer a lot more than just a familiar name.

They are truly special real estate projects that provide an unmatched living experience. From to beautiful beach retreats to ultimate urban sanctuaries, these developments can be found across the region. Let’s take a look at what makes the most exclusive branded residences in Southeast Asia so special.

Related:

What’s the difference between branded residences and serviced apartments?

Explore the most exclusive branded residences in Southeast Asia

Avadina Hills by Anantara

Location:
 Phuket, Thailand

Avadina Hills by Anantara offers great views

One of Thailand’s newest developments also promises to be one of the most exclusive branded residences in Southeast Asia. Of course, you’d expect nothing less from a project located along Phuket’s exclusive ‘Millionaire’s Mile’. Avadina Hills by Anantara sits on a hill overlooking Layan Beach, adjacent to the 5-star Anantara Layan Phuket Resort.

There are only 11 pool villas available ensuring unmatched exclusivity. Each one has a minimalist design with floor-to-ceiling glass windows, granite floors and teak ceilings that create a natural indoor-outdoor flow and maximize panoramic views of the Andaman Sea. Villas range from four to ten bedrooms and each one is equipped with a white-stone infinity pool and a spacious sundeck. In addition to all this, there are two lower floors that come unfitted to allow for customization.

YOO8

Yoo8 is part of 8 Conlay

Location:
 Kuala Lumpur, Malaysia

YOO8
 is backed by prestigious design house YOO who are partnering with two of the world’s most prominent designers – Steve Leung and Kelly Hoppen. The two tower residences are part of 8 Conlay, one of the most exciting mixed-use developments in the region.

Tower B of YOO8 features interiors from Hoppen who has created two exclusive concepts which will only be found here. Meanwhile, Leung has crafted interiors that combine a modern outlook with distinctively Asian accents for Tower A. The amenities of YOO8 have everything from a multi-tiered park in the sky to ample recreational space all designed to meet the needs of modern residents. Finally. Kempinski, a 6-star hotelier, has been selected to manage the residences.

Casa Marina Premium operated by Radisson

Location:
 Binh Dinh, Vietnam

Casa Marina Premium features luxurious villas and apartments

Casa Marina Premium is a collection of villas and apartments operated by the popular Radisson hotel brands. It is part of BCG Land’s Casa Marina Resort, an up-and-coming tourism development in Vietnam. Located in Binh Dinh, Casa Maria Premium takes inspiration from natural beauty found all around the development and the region’s unique cultural heritage.

The residences at Casa Marina Premium are spread across the surrounding green forest. Each villa possesses a stunning sea view that provides a peaceful living experience not found elsewhere in Vietnam. Design throughout the resort utilizes Feng Shui principles while modern elements ensure unmatched convenience. All of this is complemented by management from the world-class Radisson hotel brand. This project is not available to overseas buyers yet as
Vietnam foreign property ownership continues to grow slowly
.

Pullman Residences

Pullman Residences is close to Orchard Road in Singapore

Location:
 Singapore

Steps away from Singapore’s
Orchard Road
 is Pullman Residences, an impressive, freehold development mixing stylish design with unmatched convenience. The 30-storey tower features louvered, vertical panels that raise up towards the sky as well as an uncompromising façade that signifies strength.

Each residence is equipped with a spacious balcony offering views of the city as well as modern kitchens are fitted with premium and sophisticated fixtures. Service at Pullman Residences is second to none with concierge, doorman and club lounge ambassadors on hand to look after the everyday needs of residents. Additionally, a wide range of personalized services have been made available.

The Residences at The Westin Manila Sonata Place

Location:
 Metro Manila, the Philippines

A look inside the lobby at The Residences at The Westin Manila Sonata Place

The Residences at The Westin Manila Sonata Place is the first Westin-branded residences in Southeast Asia. It was among the first branded residences to be launched in the Philippines and promised an experience unlike anything currently available in the country. That starts with the Westin experience. Everything from the brand’s famed Heavenly® Beds to the signature services of the RunWESTIN™ concierge will be offered.

The property stands 50-storeys tall and contains a total of 344 private abodes with one- to three-bedroom units and penthouses all available. Located in the lifestyle hub of Ortigas Center, residents will have easy access to shopping malls with Robinsons Galleria, Shangri-La Mall and SM Megamall all nearby.
There are a few units in The Residences at The Westin Manila Sonata Place currently on the market
.

Four Seasons Private Residences Bangkok At Chao Phraya

Location:
 Bangkok, Thailand

Four Seasons Private Residences Bangkok At Chao Phraya is a Bangkok icon

It would be impossible to craft a list of the most exclusive branded residences in Southeast Asia and not mention Four Seasons Private Residences Bangkok At Chao Phraya. The 73-strorey residential tower is a riverside icon that provides levels of privacy and exclusivity never before seen in the Thai capital.

Four Seasons Private Residences Bangkok At Chao Phraya residents can enjoy a wide range of amenities operated and managed by Four Seasons. These include the sophisticated River Lounge and impressive rooftop Four Seasons Club. Perhaps the best trait of the entire development is the fact all units have been meticulously designed to be a corner unit meaning unobstructed panoramic river and city view for all owners.
A few units remain in Four Seasons Private Residences Bangkok At Chao Phraya
.

Anantara Desaru Coast Residences

Location:
 Desaru, Malaysia

Select villas at Anantara Desaru Coast Residences come with ocean access

Desaru has become a go-to weekend getaway location for residents of Singapore and Johor Bahru. It offers beautiful beaches, low-density living and plenty of recreational opportunities. What’s more, it’s only 30-minutes away from Singapore by ferry. Anantara Desaru Coast Residences boast a unique blend of luxury beachfront living and family-friendly activities that allows it stands out when compared to other residential villas in Malaysia.

The project is managed and serviced year-round by the adjacent Anantara Desaru Coast Resort & Villas which provides award-winning services. There are 20 three- and four-bedroom pool villas in total. These residences are set upon an expansive sanctuary with some offering direct access to the pristine South Sea beach.

Looking to find your home in one of the most exclusive branded residences in Southeast Asia?
Start you search with Dot Property!


Most expensive global cities

The cost of accommodating an employee in London is more than double that of Sydney, Los Angeles or Chicago according to real estate firm Savills in its latest
Live/Work Index
 which measures the combined cost of residential and office rental per person per year.

The average total cost of accommodation per worker per year in the 20 cities measured is US$ 56,855, a combination of established world cities and their dynamic up and coming rivals, dubbed “upstarts” by Savills. This ranges from US$ 16,500 in Rio de Janeiro to US$ 112,800 in London, closely followed by New York and Hong Kong. San Francisco saw the greatest price rise over the course of 2015, up by 13 percent, compared to a 9 percent fall in Moscow and Rio de Janeiro, and is top of the table in A.T. Kearney’s Ranking for Global City ‘Future Potential’.

Yolande Barnes, Head of Savills World Research, said: “The productivity of cities and their value to global businesses clearly has a pronounced effect on demand and hence rental costs. The highest ranking global cities, London and New York, are also the most expensive for businesses and workers to occupy. Arguably both are achieving a fair price in relation to their composite world city scores, but Hong Kong looks more fully valued.

“However, world cities can become a victim of their own success when rents rise to the point where affordability becomes an issue. Rapid urbanisation demands supply elasticity – the test for the top Alpha cities is to supply new business quarters and residential neighbourhoods while capturing the characteristics that made the city attractive in the first place. Growth without social, economic or environmental loss is perhaps one of the biggest challenges facing our world cities today.”

While some of the larger and most prominent world-class cities struggle to replicate their most successful city fabric in new places, other cities are emerging into the global spotlight.

Real estate recovery has not been universal but rather concentrated in the cities favoured by occupants and investors in the growing digital and creative economies. This means some relatively small cities, such as Berlin (population 4.3 million) and Dublin (1.7 million) are fast moving into the realm of world-class city status and competing with the giants in a new digital age, while San Francisco’s place in the top 10 now looks secure.

Furthermore, real estate growth has shifted back from east to west. From 2005 to 2011 new world cities of ‘BRIC’ (Brazil, Russia, India and China) countries: Shanghai, Mumbai and Moscow as well as Hong Kong and Singapore significantly outperformed London, New York, Paris, Tokyo and Sydney. But in the years to 2015 this trend has reversed as economic growth and wealth creation has slowed in the new world, economic revival has driven real estate recovery in Europe and, most especially, in the USA.

Barnes added: “Looking forward, increasing the supply of high quality workspace will be crucial for emerging cities such as Rio de Janeiro, Mumbai and Lagos, but this stock might not have to be international-style office blocks if a more local low or mid-tech solution is more appropriate.

“The vast majority of workspaces across the globe in both emerged and emerging economies remain small-scale, informal and local buildings rather than international architectural-style, plate glass fronted offices.

“The choice between a fine-grain city of mixed-use neighbourhoods and grand master plans of big blocks faces virtually every world city today and will make a huge difference to the way of life of citizens in their houses as well as work places.”


Most expensive skyscrapers are in…

Hong Kong tops the charts as the priciest place to rent a skyscraper.

Data collected from Knight Frank has crowned Hong Kong as the most expensive city to rent a space within a skyscraper. Not surprising considering the cost of living and escalating property prices here. However, what the property firm did reveal is that in Hong Kong it is nearly double that of the second most expensive city: Tokyo. Here the cost is USD 4,900 per square feet as opposed to Hong Kong’s eye-watering USD 8,000 per square feet.

Hong Kong’s impressive figures are result of a distinct lack of space, and thus supply. A recent transaction of a five-story car park for USD 3 billion illustrates how fierce the property market is here. Buildings are readily ripped down and replaced with newer and more efficient versions in a bid to keep up supply. Whereas in Tokyo, the hosts of the 2020 Olympics, there are 45 new skyscrapers in the pipeline.

Coming third in the charts is Manhattan followed by the country’s other bustling city San Francisco. The former is the financial hub of New York which poses challenges to developing skyscrapers thanks to a height restriction that exists. A hurdle for London too meaning skyscrapers are concentrated in certain pockets of the capital, e.g. the City of London. Home to the ‘Cheesegrater’ which was recently sold for GBP 1 billion showing that interest remains high here despite news of Brexit. Knight Frank gives London fifth position.

Sydney is on hot on the heels of London. Followed by Singapore that achieves USD 1,900 per square foot. Despite attempts to cool the residential market, Singapore remains top on agenda’s for overseas investors. This fuels the commercial market as it remains one of the other region’s powerhouses and financial hubs along with Hong Kong. Boston, Taipei and Frankfurt fall eight, ninth and tenth places respectively.