It’s possible to enjoy a 5-star hotel residential experience in Bangkok for a fraction of the price

A unit at Sathorn Heritage Residences, which is part of the Anantara Sathorn Bangkok, costs much less than a unit in other Bangkok hotel-branded residential developments

There is no bigger trend in Thailand real estate at the moment than hotel-branded residences. The reason for this is quite simple. People love having hotel-quality service and amenities at their home. It is a sublime experience that makes life more convenient and enjoyable.

But the proliferation of hotel-branded residences in Thailand is not new. In fact, there were a limited number of developments launched earlier in the decade connected to 5-star hotels in Bangkok. However, this was before the hotel-branded residences boom. Many of these residential projects offer the exact same benefits as newer ones, including being built by the same developer to exacting specifications, but simply lack the branding of their contemporaries.

So, what’s the difference? Apart from having a different name from the hotel they’re connected with, the experience is nearly identical. You’ll get the same home quality and access to resort amenities as you would have at a hotel-branded development. In fact, the only real difference is price.

Perhaps the best example of this is the Sathorn Heritage Residences. The high-rise condominium is connected to the luxurious Anantara Sathorn Bangkok with the 5-star hotel and residences seamlessly interwoven. Those living at the Sathorn Heritage Residences have access to the hotel’s outdoor swimming pool, the signature Anantara Spa and outdoor tennis courts in addition to a private, resident’s only gym.

A look inside a unit at Sathorn Heritage Residences

The best aspect of this is that accessing these outstanding amenities doesn’t require you to switch elevators or traverse an elaborate maze to reach your destination. That’s because the elevator at Sathorn Heritage Residences offers direct access to the hotel facilities.

Residents of Sathorn Heritage Residences can actually enter through the hotel lobby or via a private entrance exclusively for those living here. And should you want to indulge in any of Anantara Sathorn Bangkok’s highly-regarded dining options, including the very popular ZOOM Sky Bar & Restaurant that offers panoramic, rooftop views of Bangkok, they are all at your fingertips.

While the Sathorn Heritage Residences may not share the Anantara name, it is very much a part of the Anantara Sathorn Bangkok. From direct access to the hotel’s amenities to the ambiance of luxury that surrounds the entire property, living here guarantees you can enjoy the 5-star hotel residential experience. Best of all, it’s available for a fraction of the price.

Unmatched quality, unbeatable price

As mentioned previous, units in a majority of hotel-branded developments are being offered at premium prices. While the selling price depends on location, size and the hotel-brand associated with the project, you would be looking at paying anywhere from THB20 million to THB50+ million for a unit in one of these developments.

On the other hand, a 66 square metre residence in Sathorn Heritage Residences was recently placed on the market for only THB8.9 million. The fully-furnished home has been stylishly decorated to match the 5-star style of the development. The sleek furnishings are brand new and look stunning.

Brand name electronics can be found throughout the residence

What’s more, the one-bedroom unit is equipped with name-brand appliances and electronics. From curved televisions in the living and bedroom to a large refrigerator and a Nespresso machine, no expense has been spared in the name of convenience. Speaking of convenience, there is quite a bit found throughout the residence with a large storage space, washing machine and lots of cabinet and shelf space available.

There is also a bathtub in the spacious bathroom adding to that 5-star resort feeling. Finally, there is no better feeling than coming home at the end of the day and stepping out onto one of the two balconies in the residence and enjoying an unobstructed view of Bangkok from the 21
st
floor.

Click Here To Schedule A Viewing

Central Bangkok at your doorstep

This unit features interiors with 5-star hotel-inspired design

Sathorn Heritage Residences is set back from Naradhiwat Rajanagarindra Road in Bangkok’s central business district allowing for both privacy and connectivity. At the front of the complex is a commercial and retail space currently being redeveloped. While tenants have yet to be confirmed, it is likely to feature a mix of shops, food and beverage options and a supermarket in as well as offices.

Of course, the most important question for many people is transportation. The closest mass transit station is BTS Chong Nonsi, part of the BTS Green Line, and can be reached in ten minutes on foot. The Green Line, which is split into two distinct sections that connect at Siam, stops at several of Bangkok’s most important destinations including Silom, Asoke and Lat Phrao.

However, an exciting new transportation project was recently announced by the Bangkok city government that would make travelling the city even easier. The proposed MRT Grey Line would run parallel with Naradhiwat Rajanagarindra Road with a station slated for just in front of the Sathorn Heritage Residences. The Grey Line would run from Lumphini Park to Tha Phra on the other side of the Chao Phraya River

It would replace the current Bus Rapid Transit (BRT) system with a monorail structure. Both the Ministry of Transport and Office of Transport and Traffic Policy and Planning already support the plan. While a lot of work is needed,
officials have expressed optimism that the Grey Line could be operational as soon as 2023
.

Turning our focus to the local neighbourhood, a unique blend of popular spots can be found nearby. For example, Sarah Jane’s is a short-walk away. The authentic Thai restaurant has been serving guests for more than 30 years and has a reputation for being one of the city’s best-kept culinary secrets. A little beyond that is EmSpace, a diverse shopping centre with several superb eateries and an international supermarket.

Finally, Bangkok’s business hub is a short stroll down the street. The offices of several multinational corporations can be found along Sathorn Road which is a little more than a five minute walk from Sathorn Heritage Residences. PwC, Nike, the Bank of China and Nikon are just a few major businesses based in this part of the city.

Sathorn property market update

According to Colliers International Thailand, there were 8,002 condominium units launched along Sathorn Road from 2003 to 2018. Of this total, the consultancy notes that nearly 95 percent were successfully sold. At the moment, the average condominium price on Sathorn Road is THB250,000 per square metre.

This is the going rate at many newer luxury condominium developments around Sathorn. Meanwhile, the one-bedroom residence available in Sathorn Heritage Residences is THB8.9 million, or roughly
THB134,848 per square metre
, and is just a five-minute walk away. That alone makes this residence a great value.

The modern kitchen is great for cooking while Sathorn is home to several great eateries

We haven’t even factored in the hotel-branded residence premium you would pay on top of the price of a luxury condominium unit. A great example of this can be seen when you compare the home in Sathorn Heritage Residences with a similar-sized unit in the Banyan Tree Residences Riverside Bangkok. Now the location is different, but the Anantara and Banyan Tree brands are similar in terms of stature with both properties providing similar amenities. The main difference is that the latter has a few premium services, such as housekeeping, that residents can use for an additional fee.

Yet a one-bedroom unit in the Banyan Tree Residences Riverside Bangkok is going for THB22.9 million and the one-bedroom residence in Sathorn Heritage Residences is available for THB8.9 million. The 5-star amenities, the quality of furnishings and electronics and access to areas such as the spa are all the same. And it could be argued that the location of Sathorn is far more stable since there will always be a demand for property in and around Bangkok’s business district.

Nexus Property Marketing found that condominium prices in the Sathorn area increased by 37 percent between 2014 and 2018. Looking ahead, the construction of the Grey Line will boost property values in this part of Bangkok while demand for condominium units here remains relatively strong.

A Bangkok home like no other

This beautiful unit in a Bangkok resort is asking for less than half the price of nearby luxury units

This stunning Bangkok home at Sathorn Heritage Residences is perfect for those in search of an exclusive, 5-star hotel residential experience for a more reasonable price. While you don’t get the name brand attached to your building, you receive just about everything else. The smartly decorated and fitted home features a range of conveniences ensuring you can enjoy the luxury lifestyle without the guilt of paying a premium for the name.

And when you factor in the outstanding location that puts you a short-walk away from the central business district, savvy buyers will need to act quickly to secure this residence. Booking a viewing this month is strongly advised in order to see this special property in person.

Click Here To Schedule A Viewing


The precious gem of Phuket property

The following article is featured on the cover of Dot Property Magazine.
Click here to read it
 in full.

Lapista Luxury Villas are extraordinary. The exclusive collection of residences is located in the Northeast of Phuket where unspoilt nature and ample opportunities for recreation can be found. Of course, you may never want to leave your thoughtfully-designed villa with its unmatched comfort and unpretentious luxury.

Inspired by Lapis, the precious blue gemstone, Lapista Luxury Villas are a vibrant, luxurious assortment of pool villa communities crafted specifically for discerning buyers. At the Dot Property Thailand Awards 2019,
the residences won Best Architectural Villa Design Phuket
, another impressive honour for the renowned Oracle Architects.

The design firm was committed to creating something truly special and Lapista Luxury Villas have been designed with utmost care for the finer details.
The multi-bedroom villas each have a 30-square metre swimming area that connects effortlessly to the living spaces
. There you will find magnificent high, open-air ceilings that embrace the tropical feel of Phuket. All of this is paired with contemporary furnishings that accentuate the beautiful architectural design.

Lapista Luxury Villas won Best Architectural Villa Design Phuket

In addition to this, Oracle Architects maximise the natural surroundings through its architectural design. An example of this can be found at the Lapista Lake project where the residences have been uniquely created in harmony with the peaceful lakeview topography.

The Oracle Architects designed Lapista Luxury Villas winning Best Architectural Villa Design Phuket is simply another honour for the firm that has won various international awards for hospitality properties since 2007. These days, the design studio is recognized for its a premium international standard architect practices and has a portfolio of well-known projects in Phuket.

Go inside Lapista Luxury Villas

A look inside Lapista Luxury Villas

At the moment, there are three projects under the Lapista Luxury Villas brand with each one located within the peaceful and beautiful tropical environment of Pa-Klok in the Thalang district of Phuket. The award-winning architectural villa design of Oracle Architects is evident throughout the entire collection with every single residence providing luxury that is stylish yet functional.

Lapista Lake @Tha Maprao

Featuring
26 pool villas
 situated as part of an integrated resort, the standout feature of Lapista Lake @Tha Maprao is the immersive landscape concepts that feature a waterfall and lake at the heart of the project. There is also a fully-equipped clubhouse along with a professionally managed, world class “Body Mind & Soul” wellness centre.

Buyers of a villa at Lapista Lake @Tha Maprao will receive a guaranteed return on investment of 8 percent for 10 years.

Lapista Pool Access Resort @Tha Maprao

Located next to Lapista Lake is Lapista Pool Access Resort @Tha Maprao. The resort boasts 44 two-bedroom, two-storey townhouse style units. At the centre of the project is a large swimming pool with all residences surrounding it. This provides those staying here with access to the common pool from their own sundeck terrace.

Lapista Pool Access Resort @Tha Maprao has its own reception and concierge area along with a fully-equipped fitness centre and a conference room with seating for up to 100 people. The property also features an all-day dining restaurant and an impressive pool bar with an overlook offering guests some stunning views.

Buyers are given two options when purchasing a villa at Lapista Pool Access Resort @Tha Maprao. They can choose from either a guaranteed return of 8 percent for 10 years for full ownership or fractional ownership at a reduced price with the ability to spend 30 days at the 5-star resort annually.

Lapista Pool Villas @Pa-klok

The ultra-exclusive Lapista Pool Villas @Pa-klok is a small estate project with only seven pool villas. The development is located in a quiet neighbourhood that is a short drive from the Heroines Monument landmark. It is also in close proximity to British International School, Boat Lagoon, Royal Phuket Marina, international hospitals, supermarkets and shopping malls.

Lapista Pool Villas @Pa-klok is suitable for buyers looking for their own residence in Phuket or for those in search of a flexible rental program.

The team behind Lapista Luxury Villas

An award winning team backs Lapista Luxury Villas

Lapista Luxury Villas are ideal for both Thai and international property seekers who enjoy a harmonious experience where quality triumphs over quantity. A place where design can be expressed to the fullest, guaranteeing a one-of-a-kind experience not found elsewhere in Phuket.

And while the award-winning architectural villa design of Oracle Architects is important, the management team behind Lapista has a rare blend of experience that allows it to create projects with the investors also in mind.

President Suttirat Shibahashi, Ann, built and operated the popular Samui Peninsula, a 5-star resort on Koh Samui, Quality Suites Hotel and a high-end anti-aging clinic in Bangkok. She divested from those projects in order to pursue her vision, which is to develop Lapista into a truly world-class wellness pool villa resort.

Lapista CEO Damrongsak Kiewpeng has significant experience in the fields of finance, construction, sales and property management having overseen them all for the Pool Villa 18 project in Samui and Beachfront Bliss Condominium in Phuket. Khun Damrongsak was presented with the prestigious Asia Pacific Entrepreneurship Award in 2018.

The trio of leaders brings a deep understanding of the different aspects required to launch, build and operate a popular resort in Thailand. From property development to hospitality management, the team behind Lapista knows what it takes for a project to be successful over the long term.

This provides real estate investors with greater peace of mind knowing they aren’t simply buying a well-designed villa in a resort development. They are investing with a team that has the knowledge required to make that development one of Phuket’s best.

Phuket’s only world-class Wellness Centre

With health and wellness services being so important to more and more people, Lapista Luxury Villas wanted to make sure it was easily accessible to its residents and guests. It also wanted to go beyond the traditional spa setup to include a full range of options.

That is why the newly launched Wellness Centre at Lapista Lake provides a normal assortment of blissful spa treatments as well as holistic medical care services that include preventive methods rather than corrective ones. As the first and only world-class wellness centre in Phuket, Lapista Lake will become a global destination.

Holistic medical services at the Lapista Lake Wellness Centre focus on areas that allow for retreating, re-energizing, revitalizing and refreshing of the body, mind and soul. Services include:

Fully Heath Check up

Total Detoxification

Immune Booster

Nutrition

Meditation

Acupuncture

Cell Therapy

Aesthetic

Gene Test

The developer believes these services will add value to those on holiday and help provide a total rejuvenation that extends to well after you have left Lapista Luxury Villas. A professional team of world-famous experts and doctors will call upon the latest technologies and know how in anti-aging pathology, cell renewing and genetic care to provide an unmatched experience.

A precious investment

Investors can join a generous rental return programme

The location of Lapista Luxury Villas in the Northeast of Phuket provides those who stay here with easy access to leading marinas, local boat piers and a lifestyle not found elsewhere. This makes a pool villa here ideal for investors and vacationers who enjoy island hopping, sailing, fishing, scuba diving, golfing and other outdoor activities.

And with Phuket International Airport only a 15-minute drive away, it means less time in traffic and more time exploring the best the island has to provide.

Location is only half of the story because the villas are a destination in their own right. The award-winning design from Oracle Architects creates an ambiance and charm unlike anything else currently available in Phuket. The beauty of all the projects under the Lapista brand are a sight to behold, just like the precious lapis gemstone they’re named after.

Residences in Lapista Luxury Villas are limited

Lapista Luxury Villas

www.lapistavilla.com

Email:

[email protected]

Phone:
 +66 (0) 98 010 4563


This is how you prepare for a virtual property viewing

If you prepare for a virtual property viewing, the experience is usually better

Many people are wondering just how they should prepare for a virtual property viewing. The experience is completely new for many of us and there will undoubtedly be some challenges that come along with it. That being said, as long as you are prepared, a virtual property viewing can be just as helpful as the real thing.

Preparation is perhaps the biggest difference between a traditional viewing and one conducted via the internet. If you aren’t ready for the digital event, the experience suffers. However, it can be good if you’ve prepped ahead of time. Here are a few tips as to how you can successfully prepare for a virtual property viewing.

Do these 3 things to prepare for a virtual property viewing

1) Test your system

Most bad virtual property viewing experiences stem from bad internet connections, poor picture quality and an inability to hear one another. Of course, there is nothing you can do if these problems are from the agent, but you can make sure it’s all systems go on your end.

Shortly before the meeting, check to see if your microphone and camera are working properly. Skype has a testing center you can call while Mac users can do this in Facetime. You can also find plenty of voice/video testing apps online. You may also want to test your internet speed to ensure everything is good to go.

2) Study photos/3D tours before the appointment

Since you won’t have the ability to explore the property in person, make sure you know everything you want to see before the virtual property viewing begins. Take note of any places you specifically want to be shown as well as any spots that may not be visible in the photos.

3) Don’t be afraid to ask the agent to go back

As you prepare for a virtual property viewing, make sure you understand that you can go back. If there is something you didn’t see clearly, ask to be shown it again. If you asked a question, but didn’t hear the answer clearly, ask the agent to repeat themselves. The technology used is good, but not perfect. Before you start the viewing, understand that it’s okay to ask the agent to go back.


Prime global rents down 1.1%

Prices of prime global rentals around the world fell by 1.1 percent during 2015 according to new research.

Knight Frank’s Prime Global Rental Index
, which reported the decline, noted how equity market volatility and economic fragility in emerging markets were driving rents lower.

Taimur Khan, Senior Research Analyst, said: “Weak equity markets and record low commodity prices contributed to the Index’s weaker performance in 2015.”

China’s Guangzhou remained the strongest- performing city, recording annual rental growth of 5.3 percent in 2015. This was despite market conditions being favourable for buyers with record low interest rates and a relaxation of financing for second homes and foreign buyer restrictions in China last year.

Geneva in Switzerland displaced Moscow as the weakest performing market during 2015, with rents falling by 7.1 percent annually, the downward pressure on rents being caused in part by strong supply.

Some of the world’s top financial centres have shown divergence in terms of the performance of prime rents. Rents fell in Hong Kong (0.8 percent) and Singapore (3.8 percent), whereas Tokyo, New York and London recorded a rise in prime rents year-on-year of 3.3 percent, 2.4 percent and 0.7 percent respectively.

Last year saw large regional variations in terms of rental performance around the world. North American cities recorded the strongest rise in prime rents, up 2.8 percent on average whilst Europe saw the largest decline, with average prime rents decreasing by 3.5 percent.

Since its post financial crisis low in Q2 2009 the Index has increased by 19 percent. From Q1 2007 to Q3 2008, prior to the financial crisis, the Index averaged increases of 9.1 percent per annum however, post Q2 2009 the average annual change has diminished to 2.5 percent.

On the upside, 2015 saw a partial resolution to the to the ‘Grexit’ crisis and the Asian equity markets stabilised. In 2016, ‘Brexit’ looks to be fuelling further uncertainty within Europe, with business activity hitting a 13-month low, according to the Markit’s European composite Purchasing Managers’ Index. In markets which are already reflecting on negative interest rates, low commodity prices and a slowdown in China, further uncertainty in the world’s key prime rental markets is likely.

The
Knight Frank Prime Global Rental Index
 is an important resource for investors and developers looking to monitor and compare the performance of prime residential rents across key global cities. Prime property corresponds to the top 5 percent of the housing market in each city. The change in prime residential rents is measured in local currency. The Index is compiled on a quarterly basis using data from Knight Frank’s network of global offices and research teams.

Many Southeast Asian cities are not reflected in the chart due to a lack of transparent, accurate and timely data.


Prime land prices up

Prime residential land development prices across Asia-Pacific appreciated by an average of 3 percent during the second half of 2015, according to real estate firm Knight Frank.

Its
Prime Asia Development Land Index
 for H2 2015 released today, showed that prices of residential sites in the region appreciated 3.0 percent in H2 2015, up from the 1.2 percent seen in the previous six months. On the other hand the price growth of office land slowed to 1.5 percent from 3.6 percent.

The
Index
 derives the price of prime residential (apartment or condominium) and commercial (office) development land in 13 major cities across Asia.

The second half of 2015 witnessed development land investment volumes in Asia rise by 14.1 percent year-on-year. Cross-border volumes increased by 55.3 percent, driven by intra-Asian investment flows. China bought almost two times more land in the rest of Asia.

While the average price of a piece of development land has been climbing steadily since mid-2012, the average land size has been shrinking.

In Indonesia, the government’s efforts to tackle tax evasion is discouraging big-ticket purchases.

Nicholas Holt, Head of Research for Asia-Pacific, said: “The confluence of easing construction costs and rising residential prices and office rents propelled Phnom Penh’s prime land prices upwards. Although the growth rates in H2 2015 moderated slightly from the previous six months, they nonetheless were among the fastest in the region.

“Tokyo’s prime residential land index recorded the fastest growth among the cities tracked in H2 2015 – it is also the only market that outperformed Phnom Penh. With Japan joining the negative interest rate club, there could be more yield compression and price appreciation.”

To
download a copy of the latest Knight Frank research
 click here.


Prime markets set to change

Vancouver occupied the top ranking for the fifth consecutive quarter in the latest
Knight Frank Prime Global Cities Index
 which focuses on the top tier of mainstream property prices in markets around the world.

However the real estate firm noted that property price inflation in the Canadian city is expected to slow in light of a new tax for foreign buyers.

In Asia, Singapore lead the way – ranked in ninth position globally with a 7.9 percent year-on-year rise in prime residential property prices – a surprise to some perhaps? The three-month change in property prices at the top end of the market was a more modest 0.2 percent.

Kuala Lumpur was ranked in 32nd place of the 37 cities monitored by the firm. It recorded a year-on-year decline in prime residential property prices in the year ending June 2016, while the quarter-on-quarter decline stood at 0.7 percent, perhaps indicating a turnaround at the top of the residential property sector in the Malaysian capital.

With the inclusion of Toronto and San Francisco, the Prime Global Cities Index has expanded this quarter and now tracks prime residential prices across 37 cities worldwide.

Vancouver leads the rankings for the fifth consecutive quarter. Prime prices have increased by 36 percent in the year to June but July saw the surprise announcement that the British Colombia Government plans to introduce a new 15 percent tax for foreign buyers, reported earlier this month by Dot Property Group, effective from 2 August 2016.

Vancouver has joined an expanding club of cities (including Hong Kong, Singapore, Sydney, and Melbourne) where policymakers are taking steps to control the flow of foreign capital into their housing markets in order to stem demand and improve affordability for local residents.

Other top performers this quarter include Shanghai, Cape Town, Toronto, Melbourne and Sydney; all saw annual price growth reach double figures in the year to June.

The majority of Knight Frank’s top ten ranking cities have been on the receiving end of new cooling measures in the last 12 months. From interest rate hikes to fees for foreign buyers, higher land taxes, or new rules on the number of second homes that can be acquired, lowering price inflation is high up government agendas which suggest that a year from now the cities populating the top ten rankings could look very different.

Weakest performer

Hong Kong has eclipsed Taipei this quarter to take the title of weakest-performing residential market. Prime prices slipped 8 percent in the year to June as supply increased and concerns over the slowdown in the local economy persisted.

In London, prime prices were already softening prior to the European Union referendum in June as the city absorbed the fifth change to stamp duty rates in as many years.

Annual price growth has slowed from 8.3 percent to -0.6 percent over the five year period. Although uncertainty persists some clarity over the country’s leadership and the Bank of England’s decision to leave the base rate unchanged this month has delivered a hint of confidence in the U.K. economy.

Analysis by world region shows Australasia leads with prices rising by 11 percent on average followed by North America (10 percent).

Knight Frank noted that the global economy is still in a precarious state, lacking any real engine of growth. Low oil prices, deflationary concerns in the Eurozone, uncertainty surrounding the impact of the U.K.’s Brexit decision and weaker-than-forecast U.S. GDP figures represent just some of the challenges on the global economic landscape.


Prime price declines slowing

Prime property prices in Kuala Lumpur dropped by 0.9 percent during the 12-month period ending December 2015, but the prices in the city remained static in the fourth quarter, perhaps indicating the top tier of the prime residential market has reached its peak in terms of prices.

Although five cities recorded double-digit annual price growth in 2015 according to real estate firm Knight Frank in its latest look at the sector, it said the overall narrative is one of converging market performance.

Kate Everett-Allen from Knight Frank examined the latest data.

Vancouver leads the rankings for the third consecutive quarter. Luxury residential prices increased by 24.5 percent during 2015. Tight supply, strong demand – boosted by a weaker Canadian dollar – and the absence to date of any market intervention explained the acceleration in prices.

Sydney shared similar market fundamentals as Vancouver, with prices up 14.8 percent year-on-year. However, with the economy slowing and the introduction of fees for foreign buyers the rate of price growth is expected to cool in 2016.

Asia’s strong performers have switched places. Three years ago Jakarta, Guangzhou and Hong Kong dominated the top price rankings but Shanghai, Bangkok (pictured) and Seoul now lead their Asian neighbours.

Despite some strong performances, the overall picture is one of converging market performance. Two years ago the gap between the strongest and weakest-performing market stood at 43 percentage points; now this figure is closer to 29 percentage points.

The world’s top cities – the definitive safe havens following the global financial crisis – are seeing prime price growth cool. Prime central London’s marginal increase of 1 percent during 2015 underlines the extent to which buyers have been absorbing the stamp duty tax changes announced in 2014.

In New York, although the strength of the U.S. dollar, coupled with an increase in luxury supply, has limited price growth to some extent Knight Frank does not expect the new federal regulations for cash buyers to have a significant impact.

The key risks on the horizon for luxury residential markets, as highlighted in Knight Frank’s Prime Cities Forecast report, include further rate rises by the Federal Reserve and heightened geopolitical tension.

Add to this the recent stock market volatility, jitters over the economic news emanating from China, the slump in oil prices and the fragility of emerging markets and the risks look to be mounting.

It is unclear at this stage, given the removal of stimulus in some markets (as well as policy changes, new taxes and fees in others) whether a global economic slowdown would once again prompt strong capital flows into luxury property in the same way it did post-2008.


Prime residential: time to buy now?

With prices some 20 percent below their 2011 peak, one real estate firm has suggested that now could be a good time to invest in prime residential property in Singapore.

Singapore prime residential prices have been falling since 2012 according to JLL who estimated the average luxury prime residential price of S$ 1,991 per sq ft in 4Q 15 – about 20 percent below the peak during 2011. Amongst all the asset classes in Singapore, prime residential property prices have corrected the most in the last four years. Office, retail and industrial prices have corrected by just 4-6 percent while suburban residential prices have declined by 12 percent, the agency said in its
 latest research report
.

Singapore, it said, ranks amongst the top global cities alongside London, New York, Paris, Tokyo and Hong Kong.
Forbes magazine
 also named Singapore as the 4th most visited city globally, while Mercer ranked Singapore as the top city in Asia for quality of living and the 4th most expensive city in the world for expatriates.

Yet, JLL said that prime residential prices in Singapore are significantly more affordable than these global cities, especially as Singapore prices have fallen sharply while other cities’ prices have continued to climb during the last four years.

Prime home prices in Hong Kong are now 165 percent higher than Singapore. Prime home prices in New York and London were 10-30 percent higher than Singapore in 2010, but these are now 80-90 percent higher because prices in New York and London rose by between 20-25 percent in the last five years while those in Singapore fell by 20 percent.

JLL reported: “We believe this policy backdrop is ideal for investments as a positive “catch-22” situation exists to limit price declines. Should economic conditions deteriorate, the Singapore government could remove some cooling measures to mitigate price corrections. Yet, prices could gradually rise to catch up with global and regional peers.”


Primeworld Pointe ticks all the boxes for Cebu real estate investors

Best Investment Property Cebu – Primeworld Pointe

Both real estate investors and end users have certain expectations. Namely, each group wants whatever they purchase to be a good long-term investment. Location and quality are obviously important parts of that equation. But so too is buying from a developer who understands how to build an investment property.

Primeworld Land Holdings is one such developer. They don’t simply launch projects for today. The firm is committed to building residences that stand the test of time. This ensures capital appreciation as well as the potential for strong rental returns.

Primeworld Pointe is a great example of Primeworld Land Holdings approach to developing an investment property. Located in Cebu, the developer carefully chose a high-potential location that is close to both Cebu I.T. Park and Ayala Center Cebu Tower.

Primeworld Pointe was named Best Investment Property Cebu at the Dot Property Philippines Awards 2022

In terms of units, the condominium boasts one-, two- and three-bedroom residences that have been crafted to meet the needs of modern residents. Owners can choose between views of the mountains or city from their home while many units feature a balcony.

The 22-storey tower is also equipped with a massive array of amenities, including a bespoke swimming pool and designer lobby, along with ample car parking. These small details add significant value to a project–a fact not lost on investors.

More recently, Primeworld Pointe was named Best Investment Property Cebu at the Dot Property Philippines Awards 2022. Regardless of if you’re wanting to expand your real estate portfolio or are searching for a Cebu residence that will grow in value, this is a project worth considering.

Read More:

SMDC and RLC Residences lead an impressive collection of winners at the Dot Property Philippines Awards 2022


Here are the projects with the best designs in Thailand this year

Arom Jomtien accepts the award for Best Residential Lifestyle Design Eastern Seaboard

Design is a vital aspect of real estate development. Work in this area was celebrated at the Dot Property Thailand Awards 2022 with the country’s best designs honored. Projects from across the Kingdom were recognized for their efforts in this field.

Without further ado, let’s check out the design winners from the Dot Property Thailand Awards 2022.

Best Condominium Architectural Design Phuket

The One Naiharn from The One Phuket

The One Naiharn boasts a unique architectural design concept with sweeping curves and long lines that create an elegant and luxurious condominium. In addition to the gorgeous appearance, the architecture serves a functional purpose because it allows for both added comfort and privacy. Everything opens up to the project’s heart where you’ll find the lobby and other amenities.

Best Residential Lifestyle Design Eastern Seaboard

Arom Jomtien from Colours Development

Colours Development had a tall task in following up their design work at the amazing Arom Wongamat. But they delivered in spades with the stunning Arom Jomtien. Special attention was paid to the lifestyle aspects of the condominium with units crafted in a way that enhances livability through beauty and functionality.

Best Condominium Architectural Design Chiang Mai

Le Chamonix Chiang Mai from Luxury Chiang Mai Land

The architectural design at Le Chamonix Chiang Mai is inspired by the natural landscape of its surrounding area. A notable goal of the developer was to build a space that allows people to experience a more relaxed lifestyle while enjoying lush green surroundings.

Best Affordable Condominium Interior Design Eastern Seaboard

The Ivy Jomtien Beach from Daniel Binks Development

The Ivy Jomtien Beach is the first condominium in Pattaya featuring a duplex design. This provides a unique living experience that can’t be found anywhere else in the city. The duplex units maximize functionality and offer residents a generous amount of space. This was done while maintaining an affordable price point.

Read more about all the Dot Property Thailand Awards 2022 winners here
.


Why are property investors in Asia, leaving London for Manchester?

As agents and developers report a surge in interest from the Far East for real estate in the UK’s north-west, what’s prompting many to ditch the capital in favour of property in Manchester?

For years, investing in UK property meant investing in London.

In many respects, it made perfect sense. London after all is the capital of the UK, the country’s financial and economic heartbeat. Home to the most luxurious homes in the most prestigious addresses and, crucially, a place renowned for delivering exceptional long-term capital gains for investors.

But things have changed, with a city 163 miles to the north fast becoming Britain’s number 1 hotspot for property investment, particularly among buyers in Asia.

So what’s prompted the change?

London has reached an affordability ceiling for many investors

Figures published in October showed that just under £20 billion (S$34 billion) was spent on property in London in the 12 months to June 2016, representing a 36% fall over the year previous.

Quite simply, London has been a victim of its own success. Savills estimates that property prices in the capital have appreciated by as much as 70% since 2008 following the global economic crisis. However, that rate of growth has eased considerably in recent years, with data released by property market analysts Hometrack in October revealing house price growth in the capital is currently at its lowest level for 20 months.

While those investors that bought during the economic downturn will be huge advocates for investing in London, the reality is that it has simply become unaffordable for those investors looking to enter the market now.

With the average London property price rising above £600,000 (S$1 million) earlier this year, combined with the reforms to the non-domiciled tax status for foreign investors and increased rates of stamp duty introduced by the government, it makes it harder for London to stack up from an investment perspective.

What’s more, recent volatility in financial markets around the world has underlined the importance of having assets in portfolios that generate regular returns through yields, too.

And it’s Manchester that currently ticks these boxes for the global investor community.

Manchester – home of the UK’s highest yields and one of the most undersupplied property markets

With average property prices in the north-west city around £166,000 (S$282,800), Manchester immediately appeals to investors looking to get the best yields, or for those looking to acquire multiple assets.

But what’s setting Manchester apart is its ability to generate a regular income. HSBC ranks Manchester as the number one city in the UK for property investment yields, with average returns 55% higher than those in London.

Key to this performance has been the huge supply to demand imbalance for rental property in the city. Manchester’s population is growing at three times the national average, while it’s also home to 60% more 25 to 29-year-olds than the UK average a demographic that’s helping to drive a shift away from ownership towards renting.

Yet Manchester has one of the most undersupplied property markets in the country. While city targets outline a need for 4,000 new rental units each year just to keep up with demand, only 1,417 units are currently set for delivery annually over the next eight years.

And with Manchester forming a central part of the government’s Northern Powerhouse plans, which prompted a state visit from Chinese Prime Minister Xi Jinping in 2015, the long-term growth prospects for Manchester’s property market are equally lucrative for investors as the returns available in the short and mid-term.

Affinity Living Riverview is the latest development from leading UK developer Select Property Group. Located in the heart of Manchester, close to key work and transport hubs, Affinity Living Riverview offers fully managed rental properties and assured yields in one of the tallest buildings on the city’s skyline. Click
here
 for more information.


Property landlords get GuestReady

Property landlords in Kuala Lumpur have a new service at their disposal today.

With the launch of property management platform
GuestReady
 they can arrange laundry, cleaning, check-in and check-out of guests, as well as guest communication and maintaining listings on multiple short-term rental sites.

Two packages are offered: full property management or bespoke services, meaning the host can customise what property managing processes is needed.

Additional features are in the pipeline including a more sophisticated yield management tool and booking tracking ability.

The start-up was founded by Foodpanda‘s former Country Managing Director of Taiwan and Philippines, Alexander Limpert; and Zalora Malaysia‘s Head of Partnership & Offline Marketing, Wen Dee Tan.

In an press statement, Limpert said: “As the short-term rental industry is maturing,there is a natural need for more efficiency, professionalism, and standardisation.

“Especially with business travellers, the property and any service related to a stay need to be of immaculate quality.

“For non-professional hosts, this is hard to achieve, which is where we step in.” he concluded.

GuestReady
 is backed by Switzerland’s Swiss Founders Fund with an undisclosed sum.


What does a property management company do?

You have probably heard about using a property management company, especially if you have invested in a condo unit, but you might not know exactly what they do. Long story short, these firms can manage your property so you don’t have to. But that one sentence doesn’t make a very helpful article.

So with that in mind, let’s dig a little deeper and find out what exactly a property management company does.

Find tenants

For investors, the most important thing a property management company does is find people to rent their properties. They usually have experience in this field, so you can trust them to market the unit properly and make sure it doesn’t sit empty for too long.

Collect rent

Of course, once the property management company has found a tenant, they will also collect rent and handle the deposit for you. For overseas investors wanting to know about returns, you’ll have to speak with the firm directly to see how the process works. A few property management companies can make deposits in overseas bank accounts or via PayPal, but others require a local account.

Carry out maintenance

A property management company will perform regular maintenance on your property and ensure it stays in top shape. They will also be on hand to help in case your tenants experience any type of emergency and require immediate maintenance.

Serve as a local advisor

Every country has unique rules and regulations when it comes to property rentals. Sure, it is possible to study these and try to stay on the right side of the law. Or you could hire a property management company who already understands the local market and knows how to operate in it.

Handle bookkeeping

A good property management company will handle bookkeeping for you. This includes creating and filing invoices and in some cases paying local taxes. Not all firms offer this service, however.

These are only a few of the things a property management company does. If you are thinking about purchasing an investment property, or already have one and need help, finding the right property management company can make life much easier. But not all property management companies are equal and you’ll need to do your homework to find the one that’s right for you.


Property ownership remains important

Millennials want to be property owners and have secure career paths.

‘Asia Pacific Millennials: Shaping the Future of Real Estate’, a recent report released by real estate firm CBRE has identified trends of millennials that the property world should take note of.

Namely millennials in Asia Pacific are keen to own their own home. This is in spite of rising property values, and despite this, they are not willing to compromise on location, quality or even layout. Something that developers should consider for future residential schemes in order to remain competitive in the market.

When questioned about their current living situation, 63 percent of respondents said that they have been forced to rent whilst waiting to climb on the property ladder. This has increased the numbers in generation rent, the term coined as a response to the increasing number of renters, however, 65 percent have said that they are planning to purchase property in the future.

Steve Swerdlow, chief executive officer at CBRE Asia Pacific commented, “The millennial demographic in Asia Pacific is a game-changer for businesses across the board. Their live, work and play priorities and habits will shape economics, redefine opinions on workplace design and functionality, and drive new attitudes towards consumption and experience for the foreseeable future.”

Aside from home life, millennials still strive for career stability even though some would argue that this generation appear to have a more carefree approach as a result of them changing roles on a regular basis. But the actual workplace itself is of utmost concern. Millennials are willing to trade in other benefits in order to achieve the perfect working environment and companies are advised to adapt accordingly to attract and maintain talent.


Property prices still rising

Malaysian property prices continued to rise in the year ending June 2016.

As the highest-ranked Southeast Asian country by price rises in the
 latest global research report from Knight Frank
, Malaysian property prices rose by 7.2 percent year-on-year, while the difference from Q1 to Q2 was a mere 0.5 percent, possibly indicating a slowing of the upwards trend of Malaysian property prices.

Knight Frank reported that steady price growth is the new norm as the outliers have largely disappeared from the index in recent quarters.

Kate Everett-Allen from Knight Frank analysed the latest index results.

She said that over recent quarters Turkey, Sweden and New Zealand have occupied the top positions in our Global House Price Index.

Key Asian markets have dominated the lower ranks.

This quarter is no different.

The overall aggregate index has followed a similar narrative, consistently recording 4 percent annual growth, or thereabouts, for the last two years.

Closer inspection shows the extremes are moderating. The percentage points separating the strongest and weakest performing housing market have narrowed from 33 points in Q2 2015 to 23 this quarter.

For the western world, a prolonged period of historically low interest rates and timely injections of QE may in part be responsible.

Of the top five performing countries, Turkey and Sweden are the only two markets where price growth has slowed compared with last quarter, down from 19 percent to 14 percent and from 13 percent to 9%\ percent respectively.

The Index tracks nominal price growth but if Knight Frank considers real price growth, where inflation is stripped out, New Zealand finds itself in first place with 11 percent annual growth whilst Turkey – with inflation in excess of 7 percent – is pushed down into 13th position.

The latest data suggests the build-up to the Olympic Games was unable to act as a counterbalance to Brazil’s slowing economy and housing market.

Average prices slipped by 0.7 percent year-on-year whilst Rio saw prices fall by 3.6 percent over the same period.

China’s average house price growth stood at 5.9 percent in the 12 months to June but the gap between the top five performing cities (Beijing, Guangzhou, Sanya, Shanghai and Shenzhen) and China’s remaining cities is widening.

The government has unveiled a series of measures in recent months to either spur on, or curb investment, depending on the level of activity in the different city tiers.

The Asian markets of Hong Kong, Taiwan and Singapore occupy three of the bottom five rankings this quarter.

Weak economic growth, stringent cooling measures and the strong U.S. dollar continued to hamper sales rates.

All eyes in the coming months will be on the U.K. and the U.S.

Both housing markets have been level pegging in the last year, recording annual growth of 5.2 percent and 5.1 percent respectively.

The outcome of the U.S. presidential election and the negotiations following the U.K.’s Brexit decision will ultimately determine the confidence of owner occupiers and the flow of investor capital across a large part of the world in the short to medium term.

The Knight Frank Global House Price Index, established in 2006, allows investors and developers to monitor and compare the performance of mainstream residential markets around the world.

The Index is compiled on a quarterly basis using official government statistics or central bank data where available.

The index’s overall performance is weighted by GDP on a Purchasing Power Parity basis and the latest quarter’s data is provisional pending the release of all the countries’ results.


Property purchased via a smartphone

Will more properties be purchased through a smartphone viewing?

The Internet has become a heavily relied upon tool. Today we are all attached to our smartphones for a host of reasons. From keeping in contact with our friends, receiving the latest news to shopping recent trends. All industries have benefitted from the advances in technology, and the property world is no different.

As proved by an investor in Hong Kong who bought a property in Sydney, Australia via the iPhone feature FaceTime. Rather than viewing the property in person, the purchaser was walked through the property by the agent on their phone. Taking 40 minutes, the investor then made an offer of AUS 3.65 million the following day despite being 7,000 kilometres away.

Buying a
property off-plan
 is a very standard process in Asia and many properties are bought this way. Viewing a property through a smartphone could be considered to be similar. Marketing platforms such as
Dot Property
 have made it even easier for overseas purchases. Used as a vital research and marketing tool to enable purchasers to look at properties worldwide at their finger tips.

This Sydney transaction indicates that we could be able to enter a new era in house purchasing. More purchases may happen in this manner as an increasing number of Hong Kong residents are looking to park their money overseas due to
spiralling property prices at home
. This is supplemented with a depreciating Yuan and restrictions of the movement of money out of Mainland China. Subsequently more international transactions are anticipated and are likely to occur in this manner.

Real estate agency Knight Frank state that Chinese investors and developers spent an impressive USD 1.7 billion in Australia in the first half of 2016. The use and development of technology will make these spending sprees even easier. It is likely that more properties will be purchased through these means.


Property websites targeted

Real estate websites have experienced a 300 percent increase in bad bot activity, with large real estate sites experiencing the most pain according to
research from Distil Networks in an annual report
 that identifies statistically significant data on global bot traffic.

Bad bots are used by competitors, hackers and fraudsters, and are the key culprits behind web scraping, brute force attacks, competitive data mining, online fraud, account hijacking, data theft, unauthorised vulnerability scans, spam, man-in-the-middle attacks, digital ad fraud, and downtime.

“When we dug into the bot activity in 2015, we identified an influx of Advanced Persistent Bots (APBs),” said Rami Essaid, co-founder and CEO of Distil Networks.

“ABPs can mimic human behaviour, load JavaScript and external assets, tamper with cookies, perform browser automation, and spoof IP addresses and user agents. The persistency aspect is that they evade detection with tactics like dynamic IP rotation from huge pools of IP addresses, use Tor networks and peer to peer proxies to obfuscate their origins, and distribute attacks over hundreds of thousands of IP addresses.

“A huge 88 percent of 2015 bad bot traffic were APBs. This shows that bot architects have already taken note of traditional bot detection techniques and are finding new sophisticated ways to invade websites and APIs, in an effort to take advantage of critical assets and impact a business’s bottom line.”

Key Findings of Bot Traffic

Some 46 percent of all web traffic originates from bots, with over 18 percent from bad bots.

For the first time since 2013, humans outnumbered bots for website traffic.

Medium-sized websites (10,001 to 50,000 Alexa ranking) are at a greater risk, as bad bot traffic made up 26 percent of all web traffic for this group.

Chrome edged out Firefox as the browser of choice for bad bot creators with over 26 percent of all user agents utilising the Google browse.

The rise of Advanced Persistent Bots (APBs)

Some 88 percent of all bad bot traffic has one or more characteristics of an Advanced Persistent Bot.

53 percent of bad bots are now able to load external resources, like JavaScript, meaning these bots will end up falsely attributed as humans in Google analytics and other tools.

A total of 39 percent of bad bots are able to mimic human behaviour, so tools such as WAFs, web log analysis, or Firewalls, which perform less detailed analysis of clients and their behaviour, will likely result in huge amounts of false negatives.

At least 36 percent of bad bots disguise themselves using two or more user agents, and the worst APBs change their identities more than 100 times.

A total of 73 percent of bad bots rotate or distribute their attacks over multiple IP addresses and of those, a whopping 20 percent surpassed 100 IP addresses.

Digital publishing and real estate industry websites were the most significant bot targets last year. As an industry, digital publishers were hit hardest by bad bots, which make up over 31 percent of all their traffic. For small digital publishers (Alexa 50,001 – 150,000) 56 percent of traffic originates from bad bots Huge increase in bad bot traffic from China, but the United States still has biggest bot problem.

The 2016 Bad Bot Landscape Report is based on aggregate data gathered from Distil Networks’ bot detection and mitigation solution that identifies and tracks bots in real time, the world’s largest Known Violators Database of bad bot fingerprints, as well as Distil’s global network of 17 data centres.


What is proptech and why does it matter in Southeast Asia?

From accounting to photography, proptech is reshaping real estate in Southeast Asia

You’ve probably heard the word proptech being thrown around recently. And you don’t exactly need to be Sherlock Holmes to figure out it stands for property technology. But that doesn’t exactly tell you what it is, or why it matters for that reason.

Let’s start with what proptech is not. It’s not some nebulous thing that will change everything about real estate, despite what people wearing jeans on stage at various conferences passionately claim. Remember a few years back when this same group was shouting about how fintech was going to render currency obsolete?

Well, I don’t know about you, but I just had to get cash out of an ATM. This isn’t to say there wasn’t a grain of truth to what was said regarding fintech. It is now far easier to pay using QR codes and various apps and we’ve seen advancements in this sector. However, they were not as grandiose as promised.

Similarly, expectations should be tempered when it comes to proptech. While its impact has already been felt, both globally and in Southeast Asia, it’s not going to change everything you knew about property. It will instead support, streamline and augment the industry.

What is proptech?

In a 2018 JLL report
, the consultancy described proptech as, “the utilisation of technology as a solution to challenges in the real estate sector. Specifically, technology is used to create or renovate services offered in real estate to buy, sell, rent, develop, market and manage property in a more efficient and effective way.”

Proptech companies can take on many shapes and sizes. For example, Dot Property is a proptech company. In fact, property portals were among the first proptech businesses onto burst on the scene.

Proptech can also involve ways to improve property management or the living experience. For example, Thai developer Sansiri has invested in this type of proptech developing all types of gadgets for use at residential developments. These include the much talked about Sandee robots that deliver packages to residents.

Property buying and the transaction process have also been targeted by proptech firms looking to bring more transparency and flexibility to this area of the industry.
BitOfProperty is just one firm working in this space
. The company wants to improve international real estate investment while tapping into crowdfunding. It has developed a decentralised, blockchain platform to allow for all of this.

Even co-working is considered to be proptech despite the fact its almost all property and little tech. In fact, it could be the largest single offshoot of proptech at the moment. Look no further than WeWork to see co-working’s importance. The company is among one of a few proptech unicorns that have a valuation of more than USD1 billion.

Why does proptech matter in Southeast Asia?

Proptech obviously has a far-reaching impact on the real estate industry as a whole. From changing how we find and buy property and bringing clarity to the transaction process to improving the buildings we live in, proptech could impact just about everyone although the size and scope may vary. But the bulk of these changes will be incremental improvements, not wholesale revolution.

It should be noted that proptech is much more expansive than this. Everything from Virtual Reality to blockchain and cloud platforms are being leveraged in attempts to revamp just about every single aspect of the real estate industry.

“As more and more processes are digitalised, many established industries are finding that the usual way of doing things has been disrupted,” Anthony Course, JLL Asia Pacific CEO, said. “We believe real estate is next, so it’s vital that advisors, brokers, investors and startups recognise the challenges and opportunities ahead. Data analytics, artificial intelligence, the Internet of Things, virtual reality, blockchain, all of these will change how we invest in and occupy real estate in the future.”

This isn’t the only reason proptech in Southeast Asia matters. The sector is also big business and one that is prime for growth. According to Cento Ventures, a Singapore-based venture capital firm, of the USD14 billion invested in global proptech last year, only USD380 million was committed to Southeast Asia.

And yet, when you scale out to the Asia Pacific region, these numbers increase significantly. JLL found that 179 proptech startups in the Asia Pacific region have raised nearly USD4.8 billion in funding between 2013 and 2017. However, the bulk of the investment went to China.

As JLL noted, Southeast Asia has begun to catch up with both local firms and international investors getting involved. Several Thai developers started their own venture capital arms with the sole focus being on proptech investment. They have combined to commit an estimated USD 100 million to the sector.

The previously mentioned WeWork is also investing heavily in the region. The co-working giant has set aside USD1.4 billion to help expand its reach in China, Japan and the Asia-Pacific region. This includes recently opened spaces in Thailand and Vietnam.

Finally, Proptech matters because it can also find itself pushing the boundaries of local laws. Airbnb continues to be a hot button issue in several Southeast Asian countries because there are no regulations to govern it. In Thailand for example,
some government officials claim the service falls under an act covering condo buildings while others believe it should be covered by hotel legislation
.

There is also the cautionary tale of Roomorama. The Singapore-based platform was similar to Airbnb but expensive regulatory issues dogged the company for years. Those legal challenges, along with a highly competitive market, forced Roomorama to close its doors in 2017.

This could even be the most interesting impact proptech has in Southeast Asia. As new companies and technologies look to push the envelope and blur lines, will governments be able to quickly adapt to these changes? The ultimate success or failure of proptech in Asia will likely be tied to the answer.


The pros and cons of buying a Ready for Occupancy unit in the Philippines

Photo: Flikr/jopetsy - Makati has a number of Ready for Occupancy units for sale

One thing that makes the Philippine real estate market different from others in Southeast Asia is the proliferation of Ready for Occupancy, known as RFO for short, units. These properties, usually in condo buildings, are exactly what they sound like. Units that are ready for tenants.

Ready for Occupancy units are popular with both end users and investors in markets such as
Makati,

the Bay
Area
 and
Quezon City
. That’s because these are all key business districts where people want to live. This means end users can move in immediately, usually concurrently with starting a new job. For investors, they get a unit that can be rented out immediately allowing them to earn rental returns sooner.

Like all real estate purchases, there are pros and cons to buying a Ready for Occupancy unit in the Philippines. Here are just a few things you should consider.

The benefits of a Ready for Occupancy unit

1) No surprises

Since the Ready for Occupancy unit is completed, you already know exactly how it will look along with the building it is in. This is different from buying a
pre-selling
unit
 where sometimes the image you are sold is different from what the finished product looks like. Having real photos can also make it easier to rent out for investors.

2) No extra work

While this is not always the case, many developers have started selling Ready for Occupancy units that come fully furnished. This means you don’t have to worry about buying furniture and having it delivered. There is also no need to hire an interior design, helping you keep costs down.

3) Rent-to-own

Some developers offer homebuyers a chance to participate in a rent-to-own scheme where their monthly rent goes towards buying the unit after a set number of years. Also known as a lease contract with an option to buy, these programs can be beneficial to end users who don’t want to shell out a large down payment. It should be noted, if you choose not to buy the property at the end of the rental agreement, your rent is not returned.

See more:
Common home loan mistakes you can avoid

The downside of a Ready for Occupancy unit

1) More expensive

You will have to pay a premium when buying a Ready for Occupancy unit. That’s because the property has already increased in value since launching. When you buy property during the pre-selling period, you are usually getting it at the lowest possible price.
And with the Philippine property market expected to continue its strong performance
, waiting to make your buying decision may be costly.

2) Limited unit selection

When developers begin to sell Ready for Occupancy units, they are usually looking to offload the ones no one wanted. These can include units on lower floors or properties with less than stellar views. This isn’t always the case, but don’t expect to get the first choice. Those units are long gone.

Regardless of if you’re looking for a Ready for Occupancy unit or a pre-selling one, you can find it on
Dot Property Philippines
, the country’s largest property website.


The pros and cons of buying Thailand real estate right now are numerous. Understanding these can be helpful in making a confident decision. And that is the most important thing. You’ll find lots of people singing the praises of the country’s property market and just as many offering a grim outlook for the next decade.

Like most things, the truth lies somewhere in the middle. Buying Thailand real estate right now is not without risk. As is the case with all investments, that risk can lead to reward. You’ll need to weigh both when looking for properties.

With that in mind, here are some of the pros and cons of buying Thailand real estate right now. This isn’t a comprehensive list but can serve as a starting point for your search.

Related:

Bangkok housing demand soars as more buyers look to the suburbs

3 pros and 3 cons of buying Thailand real estate right now

Pro:
 Deals are still available

Property prices today will be lower than if you wait until Thailand reopens. While discounts vary from location to location and even project to project, there are plenty of deals to be had. For example, Mantra Beach Condominium in Bang Saray ishas a limited-time only promotion for units in this stylish Eastern Seaboard project.

It’s a similar story in Phuket, Samui and Hua Hin. You will find a nice selection of discounts out there. However, this probably is your last chance to secure one.

Con:
 The best deals are gone

Unfortunately, the biggest discounts are long gone. Most sellers are willing to negotiate on price but are also content to wait out the situation. This is extremely important to understand when submitting an offer. Unrealistic ones will simply be ignored so don’t come in now with a bid 50 percent below asking price.

Pro:
 The entire buying process can be done from overseas

Buying Thailand real estate right now can be done exclusively from overseas. Many property agents have perfected the process which means you can confidently proceed if you want to buy from outside the country.

Con:
 You can’t visit the property in person

Travel restrictions are loosening up, but most people still won’t be able to visit a property in person if they’re buying Thailand real estate right now. For a lot of investors this is a non-starter. You can make a case this isn’t much of an issue if you’re purchasing an off-plan unit and are already familiar with the location.

However, if you don’t know the local area or want to buy a completed property, it is vital to weigh all the positives against this con. Be sure to speak with your agent or developer if this is a concern. They may be willing to work with you to find a solution.

Pro:
 Tourism will return

Historically speaking, tourists will come back to Thailand. And there are going to be a lot of them. In 2010, 15.9 million visitors came to the country. This number was 39.9 million in 2019. Arrivals only declined three times between 2004 and 2019.

In 2005, Thailand was recovering from the Boxing Day Tsunami. The global financial crisis depressed tourist numbers in 2009. And the coup in 2014 also caused a decline in arrivals. However, the tourism industry bounced back on each occasion. There is no reason to think this won’t happen again.

Con:
 Uncertainty about when everyone can return

Of course, when it recovers is still uncertain. Plans to reopen Thailand to vaccinated tourists have changed repeatedly. There is also the issue of some countries, most notably China, not allowing tourists to travel overseas. There is hope the situation returns to normal, or at least close to it, sometime next year, but that remains to be seen. Anyone thinking about buying Thailand real estate right now does need to factor this into their decision.


PT Conwood Indonesia contributes to Lombok rebuilding efforts

PT Conwood Indonesia donated several houses to the rebuilding efforts in Lombok

PT Conwood Indonesia has donated several earthquake-resistant houses to those impacted by the catastrophe in Lombok. An initial 6.4 magnitude earthquake hit the island in July with several more tremors in August, including a 7.0 magnitude earthquake, destroying buildings and leaving villages in tatters.

“We donated the houses as tokens of our deepest condolences and sympathies towards the people of Lombok who were struck by the Lombok earthquake. We hope that the Conwood house donations may encourage the acceleration of the rise of Lombok, especially North Lombok, “Rizki Kresno, president director of PT Conwood Indonesia, explained.

More than 500 people have died while a significant number of the island’s inhabitants have been displaced in the past two months. Prior to sending the pre-fabricated houses, PT Conwood Indonesia sent donations to
Lombok
 in the form of food, blankets and clean water in collaboration with Jababeka’s CSR team.

The earthquake-resistant houses donated by PT Conwood Indonesia were made from
the firm’s innovative wood replacement products
. The houses can be built in seven days with only seven installers meaning they will be put into use quickly. The houses have passed tests from The Ministry of Public Works and Housing of Indonesia (PUSKIM). The strength and feasibility of the structures are proven and will ensure they remain upright during any future earthquakes.

PT Conwood Indonesia is deeply committed to conserving the environment. The firm’s philosophy, innovating a beautiful planet, is embedded in everything the firm does. The ultimate goal is to have beautiful buildings while leaving the trees in the forest.

Those wishing to make a donation to the Lombok relief efforts can do so thanks to various charities. The Indonesian Red Cross is accepting donations for victims of the earthquake through Lombok Kita Bantu.
Click here to make a donation
.

The Jakarta Post has a complete list of organizations accepting donations to help the victims of the Lombok earthquake.
See all donation methods
.


Quality home undersupply and infrastructure creates an optimistic outlook for the Hua Hin real estate market

Glenn Thomson, Head of Real Estate in Hua Hin for Lazudi, shares his views on the local property market

The Hua Hin real estate market is uniquely positioned within Thailand. Steady demand from Bangkok-based buyers, infrastructure improvements allowing for greater tourism opportunities and an undersupply of quality residences saw the region remain resilient during the past 18 months. These factors are also positioning it for future growth.

Glenn Thomson, Head of Real Estate in Hua Hin for Lazudi, has been involved in the local property scene for more than 15 years. He notes the biggest misconception people currently have about the Hua Hin real estate market relates to supply and demand.

“Most people have the impression that there is a huge oversupply of property in Hua Hin,” Glenn said. “Agents here will tell you there is actually an undersupply of good properties to match the criteria of the average buyer. We are pleased that developers are continuing to bring new developments or new phases to meet our buyers’ demands.”

He added several large developments meeting the criteria of buyers managed to sell out. This, in turn, prompted homebuilders to confidently start new phases at these projects. The aim is to meet current demand while being prepared for the return of overseas arrivals.

Thai Families and expats based in Bangkok are the predominant category of Hua Hin property buyers at the moment
. Interestingly, different reasons for purchasing have emerged from this group. Many are looking for second homes; others are working remotely and no longer need to be located in the capital;
some are preparing for retirement in Hua Hin
; and a few have found deals too good to pass up.

“Many buyers from Bangkok had already planned to buy property in Hua Hin but pushed their plans forward a few years,” Glenn explained. “Those considering property here in the future viewed the price reductions from resale property as too good to miss. You also had many developers opt against making price increases which presented buyers with another good opportunity during the past year.”

And while local property buyers were able to take advantage of various opportunities, those overseas have mostly waited on the sidelines of the Hua Hin real estate market. Glenn reports some international clients were confident enough to purchase remotely, but most preferred to wait until they visit in person. However, they run the risk of missing out entirely.

“We are in touch with hundreds of buyers waiting to return to Thailand who are seeing properties they have their eye on being sold before they can get here,” Glenn notes. “Good, discounted properties will have all but been sold when our buyers get here. They will be disappointed they missed out and disappointed if they cannot negotiate the same deals on other properties.”

Infrastructure unlocks new opportunities across the Hua Hin real estate market

Both domestic and international flights could eventually bring more tourists to Hua Hin Airport

While the Hua Hin real estate market has remained active over the past two years, work has also gone on behind the scenes to improve the region’s travel prospects once Thailand reopens to tourists. Earlier this year, Hua Hin Airport signed an agreement with Phoenix Aviation to develop and promote the facility in an attempt to establish more international connections. According to reports,
airlines from Singapore, Hong Kong, China and India are already interested
.

Additionally, the Tourism Authority of Thailand is hoping flight service between Hua Hin and Phuket begins in the near future. While plans remain in flux, the possible benefits of increased domestic and international air travel into the region could be massive.

“The impact is going to be huge regarding national, regional and international travel from Hua Hin Airport. I see the opportunity for travelers to look at two-center vacations, such as Hua Hin with Phuket, Samui or Chiang Mai,” Glenn said. “Connections from Hua Hin to Singapore, Hong Kong and Malaysia will be a stepping stone for onward travel to Europe, Middle East, China and Australasia.”

Another noticeable improvement is the widening of roads throughout Hua Hin. According to Glenn, the local municipality has worked to reduce travel times that allows those staying outside the city to reach popular entertainment venues, restaurants and beaches in less time.

All of this will have a positive impact on the Hua Hin real estate market. More tourists visiting Hua Hin in the future is a potential boon for investors purchasing off-plan condominium units and rental villas, especially ones in central areas.

Increased tourism and improved infrastructure also make locations to the north, south and west of the city center more attractive. New developments have already begun stretching into these areas with road improvements meaning living here is more practical than in years past.

“With space at a premium in Bangkok, being able to buy property with land and space from neighbors is very appealing,” Glenn pointed out. “Many people are choosing the peaceful areas just to the south of the city where there is more space and prices are a little lower. The north is doing well because of the shorter travel time from Bangkok. There is a lot of room for development in the west where new, high-quality projects can be launched.”

For more information on Hua Hin real estate:

Glenn Thomson

[email protected]

+66815733059

Properties For Sale in Hua Hin


What questions must be answered about Thailand allowing freehold land ownership to foreigners

A proposal in Thailand allowing freehold land ownership to foreigners continues to gain traction.
The Bangkok Post reported
 the Centre for Economic Situation Administration (CESA), a body chaired by Prime Minister Prayut Chan-o-cha, tentatively approved a series of measures designed to stimulate overseas investment.

In addition to being able to own land on a freehold basis, qualified foreign investors would be granted a long-stay visa for up to 10 years and enjoy personal income tax of 17 percent on local earnings.

That being said, the proposal remains some way off from becoming reality. CESA still needs to speak with several agencies about just how these measures would be implemented and what laws would need amending.

Should it eventually be approved, there are a few questions regarding Thailand allowing freehold land ownership to foreigners that need to be addressed. Here are the three most pressing ones.

3 key questions regarding Thailand allowing freehold land ownership to foreigners

1) What happens to those leasing land or who own it through a Thai company?

There are already plenty of foreigners who have either leased land or own it through a Thai company. One solution would be to provide this group with the option to convert their ownership into freehold providing they met certain criteria. However, this would be far easier said than done.

Thailand allowing freehold land ownership to foreigners would undoubtably alienate many leaseholders who would have likely waited had they known change was coming. Even if a pathway to convert ownership was created, some people in lease agreements would find themselves stuck either unable to meet the criteria or dealing with an owner uninterested in selling their land.

Related:

Where can foreigners own freehold property in Asia?

2) Does this actually benefit the Thailand real estate market?

Some experts aren’t convinced that these sweeping changes would actually benefit the Thailand real estate market. For example,
the Real Estate Information Center (REIC) has called for more targeted measures to encourage overseas property investment
. They have proposed giving individual projects the right to increase their foreign ownership threshold.

Another concern is that the government has set unrealistic requirements that would hamstring the proposal from the start. To put it bluntly, this can’t benefit the Thailand real estate market if no one is interested.

Obviously, the situation is fluid, but the current proposal as it stands may not be attractive enough to draw in more property investment.

3) Can it be successfully implemented?

Even if the proposal is approved, it will need to be successfully implemented which is a fairly enormous obstacle. In 2014, the Thai government unveiled a THB 10 million investment visa to encourage capital inflows into the country. The program was designed to stimulate the property and bond markets while providing international investors with an incentive to consider a higher level of investment.

It provided foreigners who purchased THB10 million in condominium units or other assets with a one-year visa that could be extended annually for as long as they held the investment. What’s more, the investor’s family were also eligible to receive visas.

Unfortunately, the visa was never successfully implemented with there never being any clear guidelines on where and how to apply. While some did manage to receive the
THB10 million condominium investment visa
, many others did not despite meeting all the qualifications.

Thailand allowing freehold land ownership to foreigners only matters if the program is backed by a clear and concise application process. It’s vital everyone be on the same page if this is to work.


A quick look at home renters insurance

Just because you rent your home doesn't mean it's wise to go without insurance

Most people are familiar with homeowners insurance, but renters insurance is much less common. Even those who rent their home and have heard about renters insurance don’t necessarily understand why they should have it. That’s usually due to the fact they assume the landlord will have insurance that covers the property.

This may be true in some cases; however, it most definitely will not cover your possessions. In fact, nearly every rental contract ever created expressly states you are responsible for you and your belongings. That means paying out of pocket if you don’t have renters insurance.

Overview of home renters insurance

While what is covered by home renters insurance does vary, most policies will protect against loses due to fire, lightning, vandalism, theft, explosion and similar scenarios. Protection against flooding is less common, although some insurance companies do cover it. That being said, you may be looking at more expensive monthly payments or higher premiums.

There are a few instances that are not covered by renters insurance. These include:

Neglect

War

Nuclear hazard

Seizure of property from the government

Types of coverage

Actual cash value

Actual Cash Value (ACV) coverage pays for what the item is worth during the time that it was damaged. For example, if your old school, tube television was stolen, ACV coverage pays out its current price, which is probably nothing, not the price when it was bought. This is usually the cheapest option for renters insurance.

Replacement cost

Replacement cost renters insurance is recommended for those who own high value items. If something happens to an item, it will pay out its original price.

Do I need renters insurance?

It’s always a good idea to have renters insurance if you are renting a property. On the other hand, there may be a few instances when it isn’t absolutely necessary. If you are a recent college grad living in a studio that only has a bed, television and Xbox, it might not worth the cost and trouble. Before getting a quote on renters insurance, take a personal inventory of your rental property to see how much value is there.


Raintree Residences offers the best urban lifestyle

There are no two more important elements in daily home life than space and greenery. Space lets us feel free and gives us the ability to pursue our passions in life. Meanwhile greenery lets us connect with nature and enjoy health and happiness. These two tenants serve as the anchor of Raintree Residences where space and greenery can be found in abundance. This superb housing estate is located in one of Iskandar’s most desirable areas near the Johor Premium Outlets. At Raintree Residences, families can grow together, enjoying a happy life without any restrictions. Developed by Genting Property Sdn Bhd, the residential project boasts contemporary homes that cater to the needs of the entire family. You can enjoy the urban lifestyle you have always wanted at Raintree Residences.

Project:
 Genting Indahpura – Raintree Residences

Developer:
 Genting Property Sdn Bhd

Architect:
 DC Architects Sdn Bhd

Location:
 Kulai, Zone E of Iskandar Malaysia

Launch date:
 June 2015

Facilities:
 Guardhouse, entrance park and linear park

Sales office telephone:
 +607-663 1188

Email:

[email protected]

Website:
 www.gentingproperty.com


This real estate development is building a forest in Bangkok

A common complaint is that Bangkok lacks green areas. With space in the city center at a premium and land prices inching upwards, real estate developers opt to maximize usage. While most builders try to find ways to incorporate trees and sometimes small parks into their projects, these can still be rather limiting.

One company wanted to change that. Magnolia Quality Development Corporation (MQDC) felt like they could invert that concept by building a forest in Bangkok and then placing a real estate development around it. This idea is what has inspired The Forestias.

It must be stressed that MQDC is building a real forest in Bangkok. This isn’t simply some trees or green spaces. Ecologists and conservationists have been hired to help build a living, breathing ecosystem that will be the heartbeat of The Forestias.

Flora and fauna have been carefully selected and introduced gradually to ensure a vibrant, healthy forest that grows right alongside the project’s residents. Meanwhile, a team of park rangers will be on hand to monitor The Forestias ecosystem as well as provide educational services to the public.

MQDC has set aside 30 rai (4.8 hectares) of forest that will be inaccessible to the public. This decision was made to provide protection to certain plant and animal species that flourish better without human traffic. However, the public can still observe some of these areas via the canopy walk that connects the various parts of the mixed-use estate.

This protected area is the hub of the forest which spans to every last corner of The Forestias. In fact, more than half of the entire development has been set aside for it. The project itself covers nearly 400 rai, or 64 hectares. To put this into context, the newly expanded Benchakitti Park is 72 hectares while Lumphini Park is 57 hectares.

According to the developer, this is the largest such forest to be built within a metropolitan township project.

Read More:

4 things to know about Thailand property investment in 2022

Building a forest in Bangkok for a better life

Forests will cover more than half of The Forestias

MQDC
 believes that building a forest in Bangkok can allow people to live a better life. For starters, it cites numerous studies conducted over the years that show a direct correlation between access to green spaces and improved health and wellbeing.

There are also the environmental benefits that building a forest in Bangkok should bring. For example, there will be much less pollution in and around The Forestias. Additionally, temperatures inside could be anywhere from two to five degrees Celsius cooler than in other parts of the city.

The developer has been very careful to place the various residential projects around the forest to ensure everyone could enjoy a connection to nature. Every time a person walks out of their front door or building, they will be immersed in the beauty only the environment provides.

The public has taken notice of the work MQDC is doing at The Forestias. The development won Thailand People’s Choice Award for Project of the Year at the
Dot Property Thailand Awards 2021
. Given the firm’s unique and bold plans, it was something they took a great deal of pride in winning.

“Winning these awards makes us very proud. It makes us feel like we are developing The Forestias in the right direction. We don’t only want to develop a good project, we want it to be one of the best projects in the world,” Khun Kittiphun Ouiyamaphun, MQDC Senior Vice President, proclaims.

Those wanting to catch a glimpse of The Forestias and see how MQDC is building a forest in Bangkok can visit the project showroom in Bang Na. Interestingly,
it is the country’s largest real estate showroom
 and several immersive experiences provide you with a better understanding of the development’s magnitude.


What real estate development is Southeast Asia’s best? Dot Property is letting you decide!

Park Cascades from Alveo Land is one of three finalists for the People’s Choice Award for “Project of the Year” award

The Dot Property Southeast Asia Awards 2019 promises to be a historic occasion with the very first People’s Choice Award for “Project of the Year” being named during the presentation ceremony. The Southeast Asia People’s Choice Award for “Project of the Year” features the country winners of the award from Thailand, the Philippines and Vietnam. This honour is voted on exclusively by the public.

BEATNIQ Sukhumvit 32 from SC Asset is a People’s Choice Award for “Project of the Year” nominee

Southeast Asia’s leading real estate developers, projects, agents and companies supporting the industry will at Park Hyatt Bangkok on December 12 for the Dot Property Southeast Asia Awards 2019 presentation ceremony and invitation-only Winners Party.

One of the evening’s most anticipated moments will be the announcement of the People’s Choice Award for “Project of the Year” winner. However, before that can happen, we need you to vote for your favourite. Let’s take a look at the nominees.

Representing the Philippines…

Park Cascades was presented with the People’s Choice Award for “Project of the Year” in the Philippines

Park Cascades from Alveo Land

Park Cascades is a smartly-designed residential development that connects seamlessly to the retail areas and open spaces found throughout Arca South, a fully-connected business and lifestyle district in Metro Manila.  The multi-building condominium has studio, one-, two- and three-bedroom units all designed to cater to the needs of the modern lifestyle.

Click here to vote for Park Cascades

Representing Thailand…

BEATNIQ won the People’s Choice Award for “Project of the Year” in Thailand

BEATNIQ Sukhumvit 32 from SC Asset

BEATNIQ Sukhumvit 32 is located in Bangkok’s trendy Thong Lor neighbourhood, BEATNIQ features incomparable exterior and interior design; an innovative smart home concept; and generous living spaces at a competitive price. Property buyers have responded well to all of these points as the rare blend of luxury and practicality have proven to be a hit.

Click here to vote for BEATNIQ Sukhumvit 32

Representing Vietnam…

Sunshine Diamond River took home the coveted People’s Choice award in Vietnam

Sunshine Diamond River from Sunshine Homes

Boasting the perfect blend of nature and technology, Sunshine Diamond River has redefined what it means to be a green building in Ho Chi Minh City. Several advancements have been incorporated into the development that ensures fresh air, cool spaces and a pleasant living experience for its residents.

Click here to vote for Sunshine Diamond River

All three projects are Dot Property Awards 2019 winners in their respective countries. But in order for them to win People’s Choice Award for “Project of the Year” at the Dot Property Southeast Asia Awards 2019, they will need your vote!

Vote here!


Real estate discounts: How much can you ask for when negotiating?

The art of negotiation requires you to understand numerous factors. This is especially true when it comes to real estate discounts. Discounts in the world of property come in all shapes and sizes, some of which you may not even currently realize. At the moment, many developers are willing to offer discounts due to the current situation. However, not all of them are broadcasting the offers.

Trying to talk down the price of a home requires much more nuance than, say, knocking a few bucks off some souvenir even in a buyer’s market. Obtaining real estate discounts during negotiations is possible in most cases as long as you know what to ask for. Here are a few things you are going to want to understand before trying to get the price down.

1) Be realistic

Firstly, don’t offer half the value of a property and expect to get a response. Even if the market is slow or the seller is super motivated, they aren’t going to take a massive loss unless it is absolutely necessary. It’s okay to go in with an initial offer that’s low, but still be reasonable. The goal is to get the seller moving down. If you turn them off completely, there won’t be any negotiating.

2) Use percent not price

House and condo units are expensive. When asking for real estate discounts using price, the sum you want probably seems like a lot of money. In percent form, it might seem like a lot less. By stating your discount request in percentage form during negotiations, the seller may be more inclined to see it as reasonable when compared with the total amount of money it actually comes out to.

3) Consider alternatives to a straight price cut

When looking for real estate discounts, don’t fixate on the selling price. Yes, this is important. However, there are other ways you can save yourself some money. If you aren’t making any headway on price during negotiations, think about the fees and taxes involved in the transaction process.

These are usually split between the buyer and seller but can be negotiable. If the seller isn’t budging on price, turn your attention to getting him or her to pick up the tab on all the taxes and/or fees. This may not count as a traditional discount, but you’re still saving money all the same.


Real Estate Information Center calls for targeted measures to encourage overseas property investment in Thailand

Thailand is looking at ways to encourage more encourage overseas property investment

The Real Estate Information Center (REIC) wants to see targeted measures introduced to encourage overseas property investment in Thailand. Some experts have recently called for the country to loosen restrictions on foreign ownership of land and increase the condominium quota. However, not everyone agrees with these widespread actions.

“There is no need to increase condo ownership across the whole country. It is better to focus. We recommend individual projects have the right to increase their foreign ownership threshold, but only in certain areas of Bangkok, Chon Buri, Chiang Mai, Samut Prakan and Phuket,” Dr Vichai Viratkapan, REIC Executive Director, explained to the Bangkok Post. “The government’s goal should be to focus foreign buyer transactions in the higher price ranges. That would prevent foreign buyers from competing with domestic buyers.”

Last year,
the Center for Economic Situation Administration (CESA) announced that it was looking into creating a property stimulus package for foreign buyers
 to help lift the Thailand real estate market. No action has been taken apart from the introduction of the Elite Flexible One program from Thai Privilege Card at the start of 2021.

Related:

Where can foreigners own freehold property in Asia?

Reopening tourism is the best way to encourage overseas property investment in Thailand

With Phuket set to welcome visitors quarantine free on July 1
 and most other destinations gearing up for an October 1 reopening, the best way to encourage overseas property investment in Thailand may already be underway.

“It is more difficult to sell condos to buyers who have not seen them in person because sometimes you buy only because you fall in love with the property,” Dr Vichai stated. “Once the government can vaccinate people, having foreign visitors will be safe and it will be possible to restart travel.”

At the moment, all eyes remain on China as the country’s decision on restarting international travel will have a large say in the recovery of the Thailand property market.

“Since most foreign buyers are Chinese, the first factor is when the Chinese government allows their people to travel overseas,” Dr. Vichai noted.