Understanding the difference between hotel-branded residences and serviced apartments

The Residences at The Westin Manila Sonata Place is one of many hotel-branded residences now found in the Philippines

There has been a simultaneous boom in hotel-branded residences and serviced apartments throughout Southeast Asia. Neither are particularly new, but both are more prolific now than ever before. The most noticeable similarity between the two comes down to the name.

Both usually feature a well-known hospitality brand in their name. However, you should know about  the difference between hotel-branded residences and serviced apartments as well. And whatever you do, don’t mistake either one for a traditional hotel.

What do hotel-branded residences offer?

One of the common misconceptions regarding hotel-branded residences is that they offer all the same services as you would find when staying at a property under the same brand. This isn’t always true. While some hotel-branded residences offer a full range of services, others only provide those living here with minimal perks and some provide them for an extra charge.

In a lot of cases, the hotel brand doesn’t actually manage the property but has simply licensed the use of their name and branding to the developer. Of course, the hotel is involved with the design, providing feedback and ensuring it meets their standard.

Units in hotel-branded residences come fully furnished and the developments feature high-end amenities on the same level you’d find at a hotel. These include top-of-the-line fitness facilities, opulent swimming pools and impressive lobbies.

Ultimately, many hotel-branded residences are closer to traditional residential developments than actual hotels. That being said, units in these projects are almost always in high demand which adds a great deal to their value.For example,
the Four Seasons Private Residences Bangkok is one of the city’s most expensive developments
.

What do serviced apartments offer?

For starters, you can’t buy a serviced apartment. These are operated by the hotel themselves and rented out to customers on longer-term contracts. Prices here are cheaper than traditional hotel rooms because most properties require stays of at least two weeks or longer.

Serviced apartment designs are much closer to traditional residential units than hotel rooms. Most have kitchen areas, separate bedrooms and storage spaces to feel more like a home. They also come fully furnished with everything a resident would need upon move in.

The key difference is when it comes to services. Everything from utilities to internet is included in the price. Most serviced apartments tend to provide some form of housekeeping although the regularity of this may vary. Some may even offer on-site dining or other perks as well.

Find serviced apartments in Thailand

Both are good options

The difference between hotel-branded residences and serviced apartments are noticeable, but this isn’t a case of one being better than the other. It is more about finding the solution that works best for you.


Understanding the long-term impact of COVID-19 on property investment

Two major consultancies believe the long-term impact of COVID-19 on property investment will be minimal

As many countries look to reopen businesses and return to normal, experts are trying to come to terms with the long-term impact of COVID-19 on property investment. The short-term effects of the pandemic have hampered real estate investment throughout the Asia Pacific region with volumes plummeting 62 percent in the first quarter of this year, according to Real Capital Analytics.

A closer examination of real estate investment over the past two decades shows it has fluctuated because of global events and economic downturns. Despite that, the overall trend has been for higher allocations to real estate from investors. This is why JLL believes the long-term impact of COVID-19 on property investment will be minimal.

“Real estate continues to offer good risk-adjusted returns that are less correlated to other asset classes. This portfolio diversification advantage of real estate investments is only emphasized in periods of increased volatility in the equities and commodities markets,”
a recent JLL report explained
.

The report added that the spread between real estate yields and government bond yields remains at levels that favor real estate investment. The consultancy believes real estate investment will return to pre-COVID 19 levels once business returns to normal and could possibly increase over the long term.

Colliers International also believes the long-term impact of COVID-19 on property investment will be minimal assuming there is a sharp recovery in GDP across the Asia Pacific region. If that is the case, the consultancy is predicting a swift recovery in real estate investment beginning at the end of 2020 and carrying into 2021.

One thing real estate investors need to be aware of is the rental market in the country they are investing in. JLL found that an extended disruption in business could adversely affect the ability of people to afford rents in the short term.

However, even that won’t change the long-term impact of COVID-19 on property investment in Asia as the risk-adjusted returns remain more appealing than other assets.


Uniquely Phuket: Shambhala Grand Villa is a one-of-a-kind investment opportunity

Boat Pattana isn’t simply a developer building projects in Phuket. They live and breathe the area focusing on today, tomorrow and the future. With ten years of experience and more than 20 completed developments, the company continues to bring one-of-a-kind projects to the market that both local and international buyers love.

To fully understand the bond Boat Pattana has with Phuket, all you need to do is look at the company’s Corporate Social Responsibility (CSR) efforts. From making donations to local schools and hospitals to supporting local SMEs, Boat Pattana aims to improve life for everyone on the island and beyond.

“We think that CSR is important because we all want to live in a good society where everyone is healthy and happy. It is important to contribute positively towards making this a reality. Moreover, Boat Pattana is also concerned about the environment and energy conservation. We want to help create a sustainable environment. For example, using energy saving designs is a key part of our philosophy,” Khun Panupong Kritchanarat, CEO at Boat Pattana, details.

These efforts are all part of the company’s business vision to be the leading tourism and leisure property developer in the Andaman Provinces of Thailand. Boat Pattana believes it should deliver high value to all of its clients by offering creativity, mutual trust and a strategic partnership. These three traits form the core of the firm’s company culture.

“With our strong beliefs, vision, mission and corporate culture, we think that we are unique and can create the most value for our customers while also helping improve Phuket,” Khun Panupong states.

Unparalleled design inspired by nature

Every Boat Pattana development has design elements not found elsewhere

This is the Boat Pattana philosophy and it is what drives the look and feel of the company’s projects. Additionally, the homebuilder looks to adapt its philosophy so every development suits both the location and the target client. This ensures unique projects that are unlikely anything else found in Phuket.

A great example of the Boat Pattana philosophy come to life is at its Deva Escape project. The luxury private pool villa development is situated close to Bypass Road, one of Phuket’s most popular locations for upscale residences. Knowing this, the company went above and beyond to build something not before seen in this area.

“Deva Escape Villas are very rare and incredibly exclusive. We only built five units. All five of these unique villas feature a lot of high-skilled craftsmanship from the trained workers who helped create them,” Khun Panupong explains. “Some architectural elements are inspired by the 1000-year old stone castles found in Thailand. Our customers are very satisfied with the design and the uniqueness of their mini castles.”

He continued, “Many other customers want us to build these type of residences. They are unique for ultra high-end villas, but we can’t recreate what we did at Deva Escape. That is due to our commitment and promise to only create five units in the style of Deva Escape.”

It is not just Deva Escape Villas that gets Boat Pattana’s signature treatment. Each of the developer’s projects has a unique style. Casa Riviera, Casa Signature and Project F are all luxury developments. However, each one has a different style and perspective that makes it unique.

Shambhala Grand Villa: A unique investment

Shambhala Grand Villa is one of the newest projects from Boat Pattana. The exquisitely designed pool villa development caters towards investors who want an eye-catching property that will be popular among tourists visiting Phuket. To this end, Shambhala Grand Villa is situated close to Boat Avenue and the Cherng Talay area.

Additionally, Layan Beach, Bang Tao Beach and the new Porto de Phuket by Central Group, some of the island’s most popular tourist destinations, are all nearby. And while the location is excellent, the Boat Pattana philosophy will ensure the project is truly unique.

“Shambala Grand Villa has two- and three-bedroom pool villas and each one comes with furniture, room amenities and all basic electrical appliances. This means they are ready to be rented out upon completion,” Khun Panupong notes. “The plot size starts at 360 square metres and goes up to 600 square metres ensuring the spaces are large and offer plenty of privacy.”

Khun Panupong confirms that construction on Shambala Grand Villa will begin in October 2019 and should be completed by the end of next year. This means owners can begin renting out their villa during the high season of 2020. And thanks to the unique design, these properties will be in high demand as soon as the project opens.

“Our architect team utilised Tibetan design elements mixed with modern Oriental style to make Shambala Grand Villa truly unique. You won’t see another development like it,” Khun Panupong says. “The key difference to these villas is the double master bedroom. We considered the occupancy of guests and came to understand no one wants to choose between a bigger or smaller bedroom. Our design makes it so guests all get to sleep in the same size master bedroom.”

Shambhala Grand Villa ownership and investment

Owners can use their residence for several nights each year

There are a few options available for investors interested in buying a residence at Shambala Grand Villa. Thai buyers are able to purchase a villa on a freehold basis. Meanwhile, international buyers are able to acquire a unit on a leasehold basis, which guarantees rights for up to 90 years.

Investors can also take comfort in the fact that Boat Pattana’s strategic partner will manage all villas and handle renting out the property throughout the year. Buyers can experience the property management first hand should they be in Phuket. The project’s stay policy allows villa owners a set number of free nights each year. The policy is as follows (terms and conditions apply):

1st year:
14 days

2nd year:
7 days

3rd year:
7 days

Shambala Grand Villa guarantees returns of six percent to buyers during the first three years of the project. However, this is only the tip of the iceberg. Thanks to the proven track record of Boat Pattana along with the unique design of Shambhala Grand Villa and the project’s great location, it will prove to be an ideal investment.

“We strongly believe that once Shambhala Grand Villa is completed, it will be one of the best projects in terms of value for investment and location. It is one of the closest, if not the closest, residential project to Boat Avenue and Porto de Phuket. This is an area where values are already increasing. Our clients will enjoy both capital gains and rental returns that they will be happy with,” Khun Panupong concludes.

This article appeared in Dot Property Magazine.
Click here to read it
.


US$16 bn deals for JLL in 2015

Real estate firm JLL was named the number one investment advisory firm in Asia-Pacific for the fifth year in a row during 2015 based on total value of sales completed.

According to Real Capital Analytics (RCA), an independent body that monitors real estate transaction volumes worldwide, JLL advised on investment deals worth US$ 16.6 billion during 2015, which amounts to a 27.8 percent market share in Asia-Pacific. The firm has been ranked first place since RCA began releasing data in 2011.

The firm also took the top spot in the hotel sector for the fifth year in a row, with a total of US$ 2.9 billion in hotel sales in 2015, representing a 57 percent market share in the region.

“Last year was a stellar year for real estate investment in Asia-Pacific, thanks to continuing demand from investors wanting to buy into the growth story in the region,” said Stuart Crow, Head of Asia Pacific Capital Markets, JLL.

“We are delighted to have achieved top ranking with RCA for five consecutive years, which shows the strength of our platform to serve investors in Asia-Pacific. We look forward to continuing to deliver exceptional value to our clients in 2016.”

Scott Hetherington, CEO Asia, JLL Hotels & Hospitality, added: “Our hotels business in Asia-Pacific has been growing to meet demand for investment advisory services, as the region’s hospitality sector continues to mature and develop. For us, 2015 was a year of high-profile transactions and a number of blockbuster sales.

“This number one ranking with RCA is testament to the hard work of our teams in making these deals happen.”

For more information on RCA’s methodology.


Why use a real estate agent?

Understand exactly what a good real estate agent can do for your property search.

Whether you are looking to
buy
 or
rent
 a property in Malaysia, it is advisable to recruit the services of a real estate agent. It is important to get a good one by your side in order to help secure that dream property for you quickly. It is worth noting that most agents work on commission, so the very nature of this means that agents are driven and will do everything they can for you. But what advantages are there for using a real estate agent?

1. Market knowledge.

A fountain of knowledge, agents know the market inside and out. They should provide you with impartial advice. A relatively close-knit industry, agents talk among themselves and know the latest news. How much the last unit in the building achieved, what the price per square metre is, etc. Use this to your advantage. Pick their brains in order to help ascertain whether you are being realistic with your needs.

2. Understand your needs.

You may think you know what type of property you are looking for, but get confused once you start looking. A good agent will listen to your wish list, work out your priorities, and then be able to pinpoint exactly what you are looking for. If you are looking for a buy-to-let investment they will be able to tell you what sort of property lets well in order to generate a healthy rental yield.

3. Arrange viewings.

Agents do a lot of the legwork so you don’t have to. They arrange viewings on your behalf, and take you out to view the properties. After viewing a few, a good agent should be able to gauge your reaction to these in order to eliminate or find other options for you.

4. Negotiate.

Negotiating is an art form. Agents are likely to have more practice at this than you will. Since agents do work on commission it is advisable to keep your cards close to your chest without letting this onto them. Either way they will want to get the deal done so will be able to act as the middle man in order to reach a mutually exclusive agreement.

5. Efficiency.

As a real estate agent does this day in and day out, they will be speed up the process. Understanding the financial and legal processes and also answering any queries you have and making sure your transaction goes through without a hitch. They will want to get the deal through quickly so that they can raise their invoice, which will be to your benefit.

If you are looking for a real estate agent in Malaysia, have online at
Dot Property
 for a list of agents who will be able to help you find your dream property.


Vaccinated foreign tourists could soon be welcomed back to the Philippines

Siargao in the Philippines could soon welcome back vaccinated foreign tourists

A specific date hasn’t been confirmed just yet but vaccinated foreign tourists will likely be welcomed back to the Philippines in the near future. Plans on a reopening scheme will soon be submitted to the Inter-Agency Task Force on the Management of Emerging Infectious Diseases with the body expected to approve them.

That would mean vaccinated foreign tourists from countries on the Philippines COVID-19 green list could finally visit the country after nearly two years away. The Philippine Department of Tourism (DOT) believes this is an important step in kickstarting an economic recovery.

“Allowing tourists from green countries or territories that have the majority of its population vaccinated and with low infection rate, will greatly help in our recovery efforts — increasing tourist arrivals and receipts among others,”
Tourism Secretary Berna Romulo-Puyat explained
. “This move will likewise aid in bolstering consumer confidence, which is a large contributor to our gross domestic product or GDP growth.”

Related:

Can tourism-focused real estate help the Philippine property market rebound?

However, no specific date has been set and there remain some questions as to what the entry process will look like. There are currently 44 countries on the Philippines COVID-19 green list which contains some notable absences, such as the United States.

Some regional peers have already reopened to overseas arrivals with Thailand proving to perhaps be the most successful. The country began with a “Sandbox” program in select destinations but has since reopened fully to vaccinated foreign tourists from more than 60 places. Neither program led to a spike in COVID-19 infections.

Philippine Department of Tourism data showed there were 8.26 million foreign arrivals in 2019, more than a 15 percent increase from the previous year. The bulk of visitors to the Philippines come from China, South Korea, USA, Japan and Australia.


Venues announced for Dot Property Awards 2021 presentation ceremonies in Thailand and Vietnam

The Reverie Saigon (right) will host the Dot Property Vietnam Awards 2021 while Park Hyatt Bangkok (right) is the venue for the Dot Property Thailand Awards 2021

Venues for the Dot Property Vietnam Awards 2021 and Dot Property Thailand Awards 2021 have been announced. Asia’s most exciting awards series will return to a pair of familiar 5-star hotels in Ho Chi Minh City and Bangkok.

The Reverie Saigon was selected as the venue for the Dot Property Vietnam Awards 2021. This is the third consecutive year the hotel has welcomed the event. Meanwhile, Park Hyatt Bangkok will host the Dot Property Thailand Awards 2021 for a second straight year.

“The Reverie Saigon and Park Hyatt Bangkok are two of Southeast Asia’s most prominent hotels and provide the perfect backdrop for the Dot Property Awards,” Adam Sutcliffe, Director, Events and International Markets at Dot Property, explains. “What impressed us about both venues last year was their commitment to the health and wellbeing of guests which allowed attendees to enjoy themselves in the safest possible environment.”

Related:

Here’s how you can enter this year’s Dot Property Awards

Dot Property Vietnam Awards 2021 – The Reverie Saigon

July 22

For the third consecutive year, The Reverie Saigon will host the Dot Property Vietnam Awards 2021. The hotel is located in the heart of Ho Chi Minh City’s prestigious District 1 inside the iconic Times Square Building. It took seven years to complete the hotel as extensive efforts were undertaken to ensure it was the city’s most luxurious property.

That’s what makes The Reverie Saigon an ideal location for the
Dot Property Vietnam Awards
. From the beautiful lobby to opulent ballrooms, the hotel exudes a level of class and sophistication befitting of real estate’s best. The Dot Property Vietnam Awards 2021 are scheduled for July 22.

Dot Property Thailand Awards 2021 – Park Hyatt Bangkok

August 19

The Dot Property Thailand Awards 2021 will take place at the Park Hyatt Bangkok which was also the host of
last year’s event
 as well as the Dot Property Southeast Asia Awards 2019. The unique ambiance and luxurious aura of the five-star venue is the ideal backdrop for the presentation ceremony.

Park Hyatt Bangkok is located along Bangkok’s prestigious Wireless Road and connected to the popular Central Embassy shopping complex. There will once again be an afterparty immediately following the awards presentation ceremony at the hotel’s incredible The Penthouse Bar + Grill. Found on the 34
th
 and 35
th
 story of Park Hyatt Bangkok, this space provides an exceptional environment to continue the celebration.

The Dot Property Thailand Awards 2021 are scheduled for August 19.


Vietnam is becoming a second home destination for international property buyers

The Vietnam tourism property market is being driven by projects such as X2 Hoi An X2 Residence

The Vietnam tourism property market is still relatively new, but it is a segment many experts have pointed to as having the potential for strong development. That’s due to rising foreign and domestic tourism alongside a growing number of appealing holiday destinations.

Prior to the COVID-19 outbreak, nearly two million foreign tourists visited the country in January with more than half of this total coming from China, South Korea, and Japan. According to Kenneth Atkinson, Founder and Senior Board Adviser at Grant Thornton Vietnam, foreign homeowners could be a major factor in sustaining the tourism market over the long term.

He told the Vietnam Investment Review
 that the country has a rather low portion of returning visitors when compared to Thailand which has a return rate for arrivals that sits closer to 70 percent. With more foreign buyers being drawn to holiday homes in Vietnam’s tourist areas, his could be set to rise in the coming years.

Market experts also expect to see a rise in the number of branded residences as the interest from more affluent buyers remains high. Vietnam currently has the third-highest number of projects in the pipeline to meet their demand. Overseas investors are attracted to the Vietnam tourism property market due to high yields that come with properties offering flexible usage for holidays.

See more:

Awarding winning resorts and beachfront developments drive Vietnam’s tourism boom

“Rental yields on city properties remain decent at 6-8 per cent in the better developments and many developers in the coastal resort areas have attracted buyers with high guaranteed returns of 8-10 per cent for 10 years, although it is expected that these will fall back on default values over the coming months, not only because of the impact of COVID-19,” Atkinson explains. “In total, however, rental yields in Vietnam are significantly higher than say in Bangkok and other parts of Thailand, and Singapore.”

 Next steps for growth in Vietnam tourism property market

A key driver of the Vietnam tourism property market will be infrastructure in resort destinations. There has been some tourism infrastructure developed in popular locations like Da Nang. And while this has allowed for the development of international-standard projects in some locations, the Vietnam tourism property market has room for future growth.

“The domestic and international tourism industries held opportunities for investors due to the rising number of new customers,” Nguyen Tran Nam, VNREA Chairman, told the media at a recent event. “Developing projects in the old way would not ensure competitiveness or suit customers’ demands.”

One way to do this is to create new hospitality products, something Robert McIntosh, Executive Director of CBRE Hotels in Asia-Pacific, said was already happening. He cited the building of coastal shophouses and shopvillas in Phu Quoc and Ha Long as an example of how developers were ensuring the Vietnam tourism property market was adapting.

“To carry growth forward, hospitality real estate developers in Vietnam will have to go through market diversification, paying attention to potential non-traditional areas such as Nam Hoi An, Binh Thuan and Ba Ria-Vung Tau, as well as diversifying their product offerings and bringing in professionals to manage their properties,” McIntosh added.


Vietnam government aims to improve the legal framework of condotels

Condotels in popular tourist spots across Vietnam have dealt with Land Use Right Certificate issues

While condotels in Vietnam have grown in popularity over the past few years, the legal framework of these projects has remained muddled. That could soon be changing after Vietnam’s Deputy Prime Minister asked the Ministry of Natural Resources and Environment to look into the matter.

The key issue at the moment is in regard to the Land Use Right Certificate of condotel units, also known as red books or pink books because of their cover color. It has been reported that owners in some condotel projects have not been issued the appropriate Land Use Right Certificate which has caused concern among some property buyers.

Now the Ministry of Natural Resources and Environment will look into the matter with the aim of improving the legal framework of condotel ownership in the country. It is a move welcomed by many leading developers in Vietnam.

“It is necessary to soon have a legal framework to help the market become transparent, develop sustainably and protect consumers. The mentality of the buyer is that they always want to own,”
Le Minh Tri, Chairman of the Board of Directors of Nam Group, was quoted as saying by Vietnam Business Forum
. “If the red book can be issued, people are also more secure, and the banks are more willing to lend money.”

He added that this would boost demand and also promote the country’s tourism industry. Additionally, consumers can be more confident in their investment when holding the proper Land Use Right Certificate.

“Everyone wants to be their own property owner, so the recognition of ownership for condotel will certainly receive the attention of investors. At the same time, when it is transparent, businesses are also willing to develop this type of real estate,” Ho Duc Trung, a Ministry of Natural Resources and Environment Official, explained to the website.

He continued, “These moves act as an economic leverage in the context of a less transparent market. Certainly, when the type of condotel is properly developed, the products will be more interested in, and the confidence of home buyers will be more and more solid.”


Vietnam property sector looks to close the gap on regional neighbors

By allowing foreign ownership in cities like Da Nang, the Vietnam property sector could reach a new level

It’s no secret that the Vietnam property sector trails behind its ASEAN peers. Thailand, Indonesia and Malaysia all enjoy domestic demand and consistent international interest that allowed the real estate industry in these countries to grow. However, Vietnam is now working to close that gap.

The second home market, in particular, is seen as vital for the growth of the Vietnam property sector. A number of ASEAN countries have had success in building the second home segment which has elevated those real estate markets as a whole. Even if Vietnam currently trails countries like Thailand and the Philippines, it is well positioned to learn from its neighbors.

“Vietnam’s property market, generally speaking, is claimed to be 10-15 years behind Thailand, Malaysia and Indonesia. The second home market only started to develop during the last couple years and is probably the furthest behind. On the bright side, there are a great deal of lessons and experiences that we can take from our pioneer neighbors,” Nguyen Hoang, Director of the R&D Department at DKRA Vietnam, explained.

A strong tourism industry could also help Vietnam establish itself as a renowned second home destination. Hoang noted that tourism has significantly increased during the past five years with the country welcoming 18 million international visitors in 2019. COVID-19 will see that number to decrease in the short term, but the long-term tourism outlook remains positive.

“In the coming years, I think the Vietnam hospitality and tourism sector will catch up with neighboring countries such as Thailand, Malaysia and Singapore. The presence of well-known, international brands like Hilton, Sheraton and Accor have already brought credibility to tourism in the country,” Hoang stated.

The Vietnam property sector welcomes hospitality

One of the most recent trends in the Vietnam property sector has been the rise of hospitality real estate. Driven by the country’s rapid growth of middle-income and high-net worth individuals, a significant number of hospitality-focused projects were launched between 2015 and 2019.

“The Vietnam hospitality property market witnessed dynamic movement during recent years with a large supply of projects launched. There have been thousands of beachfront villa/townhouses as well as 10,000-12,000 condotel units launched annually. Reputable developers of the segment include Vingroup, BIM Group, CEO Group and Sun Group,” Hoang reported.

He continued, “Facilitated by the sector’s vigorous development, asking prices have grown dramatically. As a result, it is now pretty easy to find beachfront villas listed for sale at one million dollars or more.”

According to Hoang, the most popular locations for hospitality properties are along Vietnam’s central coast with Da Nang and the provinces of Quang Nam, Khanh Hoa and Binh Thuan all seeing a lot of real estate activity. In the south, Phu Quoc Island is an up-and-coming destination. Meanwhile, the Ninh Thuan, Phu Yen and Binh Dinh provinces are now starting to establish themselves as emerging markets.

Foreign ownership could unlock greater demand

Many developers in Vietnam have been encouraging the government to loosen foreign property ownership regulations
 in order to attract more overseas buyers. Current laws state that international buyers cannot hold more than 30 percent of the units in a single residential building. Additionally, buildings must be approved for foreign ownership by the government before sales begin.

Overseas buyers are currently unable to own hospitality property in Vietnam, but this could be set to change.

“Recently, the Ministry of Construction proposed that foreigners be allowed to buy hospitality properties like beachfront villas, townhouses and condotels. This is something most experts believe to be in the best interest of the Vietnam property sector,” Hoang said. “I suppose that this is a good suggestion that can not only boost the hospitality property sector, but also increase the competitiveness of the Vietnam real estate industry as a whole. Through this, the trend of worldwide integration would be proven and implemented.”

Should international property buyers be allowed to acquire hospitality properties in Vietnam, a place such as Da Nang could compete with Bali, Phuket and Cebu in Southeast Asia. Especially when you consider that most hospitality projects also have familiar rental schemes and other mechanisms in place to provide investment returns.

It may not be there yet, but the Vietnam property sector is closing the gap on its regional neighbors.

Read more:

Real estate transparency improves in Vietnam

About DKRA Vietnam

DKRA Vietnam is a leading broker agency and property consultant in Vietnam. The company provides a wide range of services including market research, project development consultancy in hospitality and residential property, sales and marketing and property management.

For more information, please visit:
www.dkra.vn


Vietnam ready to welcome back tourists starting in March

Tourists will be able to visit places like Da Nang starting in March

Vietnam will be the latest country in Southeast Asia to reopen after the government announced plans to lift most travel restrictions starting on March 15. A proposal will soon be submitted to the prime minister for approval with this seen as a formality.

Travelers wanting to visit
Vietnam
 will be required to quarantine for one day and test negative for COVID-19 before departing their home country and again upon arrival. This is in line with measures that regional peers, such as Thailand and the Philippines, have adopted.

The country’s borders have been shut for nearly two years now apart from a vaccine passport scheme that was rolled out in select destinations late last year. Vietnam sees the plan to welcome tourists back as a key part of its reopening.

“The approval is in accordance with the government’s new responses to the pandemic, which are adapting safely and flexibly and controlling the virus effectively,” the government said in a statement.

Related:

Flight bookings pickup as borders reopen in Southeast Asia

Restarting tourism in Vietnam

Prior to the COVID-19 pandemic, tourism in Vietnam was taking off. It was one of the 10 fastest growing tourism countries in the world, recording an average growth rate of 22 percent for three consecutive years. There were 18 million international visitors along with 85 million domestic tourists in 2019 with initial projections for 2020 surpassing those totals.

While it may take some time to reach those figures once more, experts have remained extremely bullish regarding the sector’s recovery. Ms Bui Thi Thanh Huong, Vice Chairwoman and CEO of Sun Group, cites several reasons for this.

“Compared with other countries in the region and around the world, Vietnam not only has advantages in natural resources but also in terms of its political and social stability. Moreover, in recent years, with the participation of major investors, including Sun Group, Vietnam’s tourism infrastructure has seen major investment in large scale and high-class developments that have expanded opportunities for tourism,” Ms Huong told Dot Property. “The room for Vietnam’s tourism development is still very large; many fields remain open, yet to be adequately explored.”

Read More:

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


Why Vietnam could be the real star of the Trump-Kim summit

The Trump-Kim summit could benefit Vietnam in a number of ways

There is no doubt the second Trump-Kim summit is political theatre. And while the main actors receive top billing, it is the stage that could be in line for the biggest star turn. With strong economic indicators, a bustling real estate market and a growing tourism industry, Vietnam could be the biggest benefactor when we look back on the meeting of the US President Donald Trump and North Korean Chairman Kim Jong-un in Hanoi.

Initial coverage of the event is likely to be a windfall to the already booming Vietnam tourism industry. According to data from the Vietnam National Administration of Tourism, the country welcomed 15.6 million foreign tourists in addition to the estimated 80 million domestic travellers in 2018. This activity generated VND 620 trillion (USD 26.6 billion) in tourism revenue last year. These numbers were already predicted to increase, but the political summit may help the country surpass initial estimates.

Nguyen Hong Son, Director Advisory Savills Hanoi, noted the second summit in Hanoi has already been drawing significant attention from the global media. This coverage could manifest itself into tangible benefits for Vietnam, even if the talks do not progress into action.

“The first Trump–Kim summit brought a record increase of international visitors to Singapore last year,” Nguyen stated. “The image of a hospitable, safe and peaceful Vietnam will be portrayed and broadcasted all over the world, thus creating a huge opportunity for our tourism industry to attract more international visitors.”

Strong property market in line for boost from Trump-Kim summit

The Vietnam real estate market could also receive more attention in the aftermath of the Trump-Kim summit. Last year saw a record number of foreign property purchases in Vietnam with the country’s luxury residential segment in particular taking off.
The uptick in interest from overseas
buyers
 comes on the heels of strong economic growth, work on several large-scale infrastructure projects either beginning or close to starting and rapid urbanisation growth.

Neil MacGregor, Managing Director Savills Vietnam

“As if Vietnam was not already at the top of many investor’s minds, the country is given a publicity gift in the form of the Trump-Kim summit. After the exceptional 7.1 percent GDP growth in 2018, Vietnam is set to see an unforeseen additional boost in 2019,” Neil MacGregor, Managing Director Savills Vietnam said. “This can only be good for the economy and sectors ranging from manufacturing to tourism. Savills are certainly hoping there will be some positive spill over for the real estate market.”

At the moment, there remains a distinct shortage of prime property in Hanoi and Ho Chi Minh City. Real estate investors can see the potential for significant capital gains over the long term while rental yields remain in excess of 5 percent. This is a little less than what’s seen in the Philippines and on par with Bangkok.

“Although there is still a long way to go for the Vietnam property market to reach the dizzying heights of Hong Kong and Singapore, Vietnam is well on the way to becoming Asia’s next tiger, with strong economic growth, a rapidly growing middle class and, for the time being at least, relatively affordable pricing,” MacGregor added.

The majority of overseas investors have hailed from Hong Kong,
China
, Japan and South Korea, but the Trump-Kim summit could provide the Vietnam real estate market with a spotlight that draws in interest from elsewhere in the world.

In off-the-record conversations with Dot Property, multiple developers have said demand from foreign buyers already surpasses supply in major cities. Meanwhile, local demand for mid-market properties in both Ho Chi Minh City and Hanoi remains strong.

“This year (2019), mid-end products are expected to keep dominating the Hanoi market with the launch of township developments,” Nguyen Hoai An, CBRE Director at the Hanoi office, told VietNamNet.

Don’t forget about the beach

It’s unlikely Trump or Kim will visit Vietnam’s beaches even though Da Nang was mooted as a potential location for the second summit. However, the costal areas of the country provide both a beautiful retreat and a potential opportunity for international property investors.

Nha Trang in southern Vietnam

For example, Nha Trang in southern Vietnam boasts a beautiful stretch of coastline that spans six kilometres and is regularly ranked among Southeast Asia’s best beaches. According to data from the Khanh Hoa Tourism Department, 4- and 5-star hotels in Nha Trang record an occupancy rate of 65-70 percent throughout the year with this spiking to 95 percent during high season.

And with more arrivals expected, there is room for further growth.
 The current situation benefits condotel owners and means it is possible to surpass guaranteed investment returns many developers are offering.

The island of Phu Quc, the central Vietnam resort cities of Da Nang and Hoi An and Cat Ba Island in the north are some of the other tourist destinations with condotel projects springing up. While these areas won’t benefit directly from the Trump-Kim summit, an influx of visitors to Vietnam would see at least a few flock to the resort spots.

Notably, most condotel properties allow owners to stay at the project for a set number of days each year, meaning property investment in one of the these areas could double as a holiday retreat. This option makes them even more appealing to buyers from Singapore, Hong Kong and China who may find prices here more competitive than Southeast Asia’s other beach retreats.

This article originally appeared on Dot Property Vietnam
.


Vietnam: Tipped for the top

Vietnam has been tipped as one of the world’s next real estate investment hotspots.

Real estate firm Savills, in its
Around the World in Dollars and Cents
 research report, highlighted Vietnam and noted how improving economic conditions have led to a rise in the fortunes of Vietnam’s property industry, with urbanisation, tourism and retail development leading the way.

According to the report, the property industry in Vietnam enjoyed a good 2015. Following on from the government’s monetary policy of 2013-2014, Vietnam’s macroeconomic conditions are now the best they’ve been for some time.

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

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

VIETNAM LANDED RESIDENTIAL DEVELOPMENT – LONG-TERM CAPITAL GROWTH

Rapid urbanisation, a fall in household occupancy and a young population will continue to underwrite residential property demand in Vietnam through 2016 and beyond.

In the short term, economic fluctuations represent the main risk, but the growing middle-class demand for new homes will be a long-term phenomenon, as long as the economy continues to perform.

Savills noted how amended housing laws now allow for foreign investment in this sector.

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

OPPORTUNISTIC TIP: VIETNAMESE RESORTS – LONG-TERM TOTAL RETURNS

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

Hospitality development throughout the country kicked off with fervour in 2015 and will deliver world-class product, supported by great coastal locations, quality golf courses and international architecture in outstanding destinations during 2016 – from Halong and Danang in the north to Nha Trang and Phu Quoc in the south.

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

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

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

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

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


Vietnam’s Sun Group builds its legacy by winning two awards

Sun Group won two honors at the Dot Property Southeast Asia Awards 2020

People’s Choice Award for Project of the Year Southeast Asia

Best Leisure Developer

Sun Group is behind some of Vietnam’s most popular resort and tourism projects, all of which have captured the hearts and minds of tourists both locally and from around the world. The developer has been a key supporter of the country’s growing tourism real estate market and its quality work was recognized by the public in 2020.

Sun World Ba Na Hills won the People’s Choice Award for Project of the Year Southeast Asia at the Dot Property Southeast Asia Awards 2020. This was in addition to winning Vietnam People’s Choice Award for Project of the Year 2020 earlier in the year.

Located just outside of Da Nang, Sun World Ba Na Hills is the most significant resort and recreational complex in Vietnam. The development’s mountainside location transformed the entire region and has made it global attraction. Sun World Ba Na Hills is most well-known for The Golden Bridge which TIME Magazine named as one of its top 10 best destinations of the world in 2018.

This was not the only accolade for Sun Group as the developer also won also won Best Leisure Developer at the Dot Property Southeast Asia Awards 2020. The achievements are historic for Sun Group and help cement the firm’s legacy as one of Southeast Asia’s most innovative developers.


Vietnam’s top real estate projects exhibit quality and style across the market

Best Sustainable Township Development was presented to EcoCity Premia

This article on Vietnam’s top real estate projects appeared in the most recent issue of Dot Property Magazine.
Click here to read it
!

The Dot Property Vietnam Awards 2021 showcased the best projects in the country. The Vietnam real estate market continues to improve, and these efforts can be seen in the consistently rising standard in housing, township, apartment and condominium developments.

This year’s class of project winners stand out thanks in part to their combination of quality and style. While each development is unique, they have all exhibited what it takes to be the best and were honored for this work.

Vietnam’s top real estate projects

Best Sustainable Township Development

EcoCity Premia

The sustainability at EcoCity Premia starts with the lake park that serves as the green heart of the township. This expansive natural feature helps build an environmentally friendly eco-system that offers a healthy lifestyle. Sustainability is supported through the amenities inside EcoCity Premia. There is an Eco Mall; International Eco Health Care Clinic; European-Asian restaurants with indoor and outdoor seating; and a clubhouse. The result is a safe environment that provides a colorful life similar to what’s found in Europe.

Best Lifestyle Township Development

La Vida Residences

La Vida Residences launched a new model urban area in Vung Tau City focused on creating an elevated lifestyle for owners. This starts with the 5-star standard amenities found throughout the township. It is extended to the exquisite design from Architect Ngo Quan Hien who wanted to capture the allure of semi-ancient looks with the modern style residents have grown to love. Everything is then connected with a smart city system that offers convenience and large green spaces that cover up to 73 percent of La Vida Residences.

Best Mid-Market Condo Development

Legacy Central

Aiming to be a source of happiness for unit owners, Legacy Central boasts modern interior designs, high-standard construction and stylish living spaces at an affordable price. The daily lives of residents are made easy thanks to the retail spaces and modern amenities available at the condominium. Meanwhile, a park and green walking routes create separation from the noisy and dusty city without needing to leave home.

Best Beachfront Condo Development

The Ruby Ha Long

Located in the up-and-coming Ha Long, The Ruby Ha Long has raised the bar for beachfront condo projects in the country. Nearly all of the units inside the development have a panoramic view of the bay which has been made possible thanks to its bow-shaped design. Each residence also features a sleek, modern design suitable for those wanting a second home or investment property. All facilities at The Ruby Ha Long have been crafted to international standards while maximizing the beachfront vistas.

Best Beachfront Resort Apartment

Dolce Penisola Quang Binh

Tourism to Quang Binh is expected to increase over the coming years as more people discover its sublime beaches and stunning natural scenery. Dolce Penisola Quang Binh is well positioned to offer visitors the ideal luxury residence when they arrive. Featuring a pair of 27-story towers, the resort apartment project boasts a number of luxurious details that are sure to impress. These include a cloud footbridge made of glass that connects to two main structures and a transparent swimming pool.

Best Luxury Boutique Condo

T-Place

T-Place is a modern apartment, office, commercial and entertainment complex project built according to international standards. It is also the first development to have successfully renovated an old apartment building in Hoan Kiem district. This has created a boutique feeling throughout the condo that buyers lover. However, luxury has not been sacrificed. T-Place contains outstanding designs in terms of functionality and upscale finishing materials for a high-end appearance that resonates with property seekers.

Best Township Development

Meyhomes Capital Phu Quoc

Meyhomes Capital Phu Quoc selected a prime location surrounded by long-standing historical sites and what is considered to be the most beautiful beach in Phu Quoc to launch a smart and ecological urban area unlike anything currently available in Vietnam. The 5-star standard township is equipped with residential projects, retails spaces, parks and other amenities designed by leading overseas companies. On top of this are several technological and sustainable innovations to ensure this is Phu Quoc’s most livable destination.
Meyhomes Capital Phu Quoc
 also won Best Township Master Plan Design.

Best Luxury Mixed-Use

Léman Luxury

Léman Luxury
 strives to find new ways to enhance green spaces while giving them a sense a luxury. For example, the project’s residential component features hanging gardens which are a rarity in Vietnam. There is a range of high-end retail and commercial options inside Léman Luxury as well. The Swiss-standard is found throughout the mixed-use development with designs inspired by Léman Lake and the snowy peaks found in Switzerland.

Best Integrated Real Estate Development Vietnam

TMS Homes Wonder World

Situated in Hanoi, TMS Homes Wonder World spans 38 hectares with the urban ecological complex located next to a reservoir. It is also near key business hubs and transportation facilities as the developer sees the project becoming a dynamic economic area. Within the confines of TMS Homes Wonder World is an unmatched selection of housing along with lifestyle comforts set admits a backdrop of natural wonder.


Vinhomes presented with Developer of The Year Vietnam 2021

This article on Vinhomes appeared in the most recent issue of Dot Property Magazine.
Click here to read it
!

Vinhomes work across Vietnam is unsurpassed. From advanced smart cities to ideal living spaces and urban parks, the developer strives to show the public their properties are where happiness dwells.

In a year full of obstacles and challenges, Vinhomes remained steadfast in its mission to provide an excellent quality of life to residents. Its work was rewarded by being named Developer of the Year Vietnam 2021 at the Dot Property Vietnam Awards 2021.

The firm is a pioneer in crafting ideal living experiences in Vietnam’s urban locations. Vinhomes developments feature professionally planned residential complexes that are in harmony with nature. This is accomplished through integrated facilities and a green environment that have come together to form a new lifestyle for the Vietnamese people.

Its vision in this regard is unquestionably ambitious. The developer has completed 48 urban parks in the country along with building Vietnam’s largest saltwater lake and largest man-made freshwater lake with white sand.

Vinhomes is also a leader in smart cities and continues to allocate resources to the research and application of digital technologies and smart solutions for construction, management and operation of urban areas. The result is dynamic communities that provide the modern, lively and gracious environment people today seek.

At the core of the developer’s approach is sustainable growth which is guiding its efforts to become a world-class enterprise. Vinhomes takes pride in offering superior scale, execution speed and service quality, three traits that have helped it ascend to the top of the market.

With a portfolio of outstanding developments and a willingness to go above and beyond in its desire to offer customers the best living experience, Vinhomes is a worthy winner of Developer of The Year Vietnam 2021 at the Dot Property Vietnam Awards 2021.


A vision for excellence sees Golden Topper soars as Cebu’s best developer

Best Developer Cebu

Golden Topper had a vision to elevate the Cebu real estate market when it launched City Clou a few years back. The firm wanted to create a vibrant business and lifestyle district surpassing anything seen in the region.

Its hard work and ambition were recognized at the Dot Property Philippines Awards 2022 when Golden Topper was named Best Developer Cebu. This was another milestone for a homebuilder that continues to raise its game.

The success of City Clou in Cebu has been nothing short of extraordinary. More than 90 percent of the project’s first residential tower has sold out with other elements having opened for pre-selling. The mixed-use development is among the first in the region where people can work, live and play in one location.

Golden Topper envisions City Clou as a complete community with its own business hub. To accomplish this goal, the developer is including four residential towers, a dedicated office tower, a three-level commercial area and world-class leisure amenities inside the development.

The latter features Central Park at City Clou, an urban retreat within the city that contains three swimming pools, a fitness area with yoga room, an outdoor play area for kids, a meditation garden, several pocket gardens and a clubhouse.

Cebu is an up-and-coming property market in the Philippines and Southeast Asia as a whole. The work of Golden Topper is helping take the region to the next level through exciting designs that meet the needs of the residential, retail and office sectors.

Winning Best Developer Cebu at the Dot Property Philippines Awards 2022 is an affirmation of its vision for excellence. But this is simply another step for a firm that is looking to create bigger and better projects moving forward.

Read More:

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


A vision for real estate excellence propels Raimon Land to success

Developer of the Year 2022

Best Developer Luxury Condominiums

Raimon Land is synonymous with luxury condominiums and their exquisitely crafted projects have been well received among end-users and investors for years. Its work reached new heights this year with the company winning both Developer of the Year and Best Developer Luxury Condominiums at the Dot Property Thailand Awards 2022.

The victories are validation of its vision for residential real estate that aims to support evolving lifestyles. Today, residents require additional space, functionality and comfort in prime locations. Raimon Land’s partnerships with world-renowned design firms, curation of upscale amenities tailored to modern lifestyles and spacious condominiums are unmatched in the Kingdom.

“First and foremost, winning is an honor. These awards a testament to the hard work of everyone at our company and also the great support we receive from our customers,” Stephane Michel, Chief Operating Officer of Raimon Land, details. “The key differentiation between Raimon Land and other developers lies in amazing locations that focus on quality and partnerships with incredible firms from around the world. We want to bring the best of the world to Thailand.”

Raimon Land’s outstanding work on projects like Tait Sathorn 12 and The Estelle Phrom Phong is currently unmatched. From an emphasis on larger unit sizes to modern amenities and ample green spaces, the firm’s vision for residential real estate excellence was one of the many reasons it was recognized at the Dot Property Thailand Awards 2022.

“When you look at the offerings in terms of facilities, finishings, all of this comes together very well. The result of our work can be seen with these awards. We are very honored, very humbled and want to thank everyone,” Stephane proclaims.

However, this year is simply a start. With The Estelle Phrom Phong and One City Centre nearing completion, Raimon Land is already focused on what’s next. These are certainly exciting times for the Dot Property Thailand Awards’ Developer of the Year 2022.

Read More:

Raimon Land and Rosewood partner for new Phuket branded residence project


Visit Malaysia for this reason….

Food lovers, or as many title themselves these days, “Foodies,” all must schedule in a trip to Malaysia. Yes, there are monkeys that swing from the trees and a beautiful backdrop of mountains wrapping around old architecture, but more importantly there is food – a lot of it.

Malaysia is a diverse country with an interesting history of how everyone has blended together to create a melting pot full of culture, all of which bring their own unique touch and traditional recipes. While in Malaysia you will find yourself surrounded by three major, authentic choices of cuisine:

Malay.
Rich in spices and coconut milk and plentiful use of chili peppers, garlic and onions, traditional Malay offers dishes creamy dishes typically accompanied with rice. Nasi lemak is considered to be Malaysia’s national dish, which consists of rice cooked in coconut milk and a pandan leaf. A famous noodle dish which consists of mee
(noodle, salt and egg)
served with a tangy, spicy and sweet potato-based sauce is known as Mee rebus, which is also a must-try.

Indian.
Both Northern and Southern Indian food has been adapted into Malaysian culture since the 19
th
 century when Indian laborers migrated to work in rubber estates. Choose from an array of robust curries seasoned with coriander, turmeric and cumin, oven baked breads and traditional desserts. Don’t be shy and (literally) dig your hands into dishes such as Tandoori Chicken, Roti Canai and Mutton Kurma.

Chinese.
In the 1800s, the Chinese immigrated to Malaysia through the South China Sea to provide a strong workforce in tin mining and with them they brought Cantonese, Hokkien, Hainanese, Teochew and Hakka styles of cooking. Compared to Indian and Malay dishes, Chinese cuisine is quite mild. Grab a pair of chopsticks and devour down Dim Sum
(steamed pork, noodles and veggies),
 Peking Duck with rice or Hokkien Fried Mee, a thick egg noodle with seafood and vegetables. If you’re around during Mid Autumn or Mooncake Festival, be sure to have a celebratory cake filled with sweet bean pastes!

Now imagine an even further exhilarating experience for your taste buds – over the years Malaysians have been mixing the flavors of all three cuisines and have created fusions that can only be found there, hence why you need to visit Malaysia and eat their food!


Vote now for Southeast Asia People’s Choice Award for Project of the Year 2020

Sun World Ba Na Hills (Right) and The Estelle Phrom Phong (Left) are the two finalists for Southeast Asia People’s Choice Award for Project of the Year 2020

Voting is now open for the Southeast Asia People’s Choice Award for Project of the Year 2020. The winners of Thailand People’s Choice Award for Project of the Year 2020 and Vietnam People’s Choice Award for Project of the Year 2020 are vying to be the region’s best. The winner will be revealed on December 17.

Click here to vote!

Let’s take a look at the finalists and what makes each project special.

Southeast Asia People’s Choice Award for Project of the Year 2020 Finalists:

Sun World Ba Na Hills

Located just outside of Da Nang, Sun World Ba Na Hills won Vietnam People’s Choice Award for Project of the Year 2020. The project is the most significant resort and recreational complex in Vietnam and has captured the hearts of the public. The development’s mountainside location transformed the entire region and made it global attraction. Sun World Ba Na Hills is most well-known for The Golden Bridge which TIME Magazine named as one of its top 10 best destinations of the world in 2018.

Read more about Sun World Ba Na Hills

The Estelle Phrom Phong

The Estelle Phrom Phong was selected as the People’s Choice Award for Thailand Project of the Year 2020 overcoming 14 of the Kingdom’s best developments. The project is accentuated by luxurious amenities unmatched in the region. There are private gardens where residents can connect with nature, a sky gym and a Japanese spa to name a few. The Estelle Phrom Phong also won Best Luxury Residential Condominium Bangkok at the Dot Property Thailand Awards 2020.

Read more about The Estelle Phrom Phong

Voting is underway now and will continue until December 16. Make your voice heard and vote for Southeast Asia People’s Choice Award for Project of the Year 2020.

Click here to cast your vote!


Want to sell faster?

The top-12 items that could help sell a home faster have been revealed by specialist London boutique real estate agency Rokstone, who have a special Rokstone Home Styling division and service.

The firm’s Home Styling service prepares private residences for sale by enhancing appeal such as introducing accessories such as artwork, candles and books, as well as de-cluttering or tidying messy living areas and dressing windows and bedrooms.

Rokstone highlighted that home styling originated in California in the late 1990s whereby the luxury mansions, villas and apartments of the A-list business elite and celebrities of Beverly Hills, Bel-Air and Santa Monica were given a meticulous presentation review and, where required, an “image makeover” before being placed on the housing market.

Glamorised by reality television shows the concept went mainstream and has spread across the United States.

Research by the U.S. National Association of Realtors calculates that professional home styling can reduce a residential property’s time on the market by 25 percent to 50 percent, and a dressed and styled home can fetch a price premium of between 5 percent to 20 percent more than an empty home or messy property badly presented.

Rokstone revealed that home styling is becoming more popular in Prime Central London. Four years ago just 5 percent of the firm’s clients used the home styling service. Last year this had risen to 20 percent, and this year more than 30 percent of clients use the service.

By reviewing all the home styling projects undertaken over the last four years, Rokstone Home Styling has devised a list of the top-12 most successful items that could help sell a home faster:

Books

Luxury coffee table books (Taschen being the top brand) displayed on coffee tables, side tables, bedside cabinets and shelves.

Candles

Beautiful scented candles displayed throughout a home, most importantly in the living area, master bedroom and master bathroom. The top-five most popular brands with purchasers are: Cire Trudon, Fornasetti, Diptyque, Hotel Costes and Jo Loves.

Lighting

An analysis of the levels of natural illumination in the various living spaces. Homes should have a bright and airy ambience but not be so bright they appear like a hospital operating theatre. So changes can include the introduction of side table lamps, the introduction of stronger or lower wattage bulbs or the use of filters on lights; the changing of lamp shades or the removal of curtains or blinds to make a room/living space brighter and more welcoming.

Artwork

Rokstone Home Styling work with Atlas Galleries who visit a property and curate pieces of artwork for the living spaces. The artwork can either be loaned or purchased by the vendor.

Photography/prints

These can be photographs/prints on either walls or side tables. Ideally photos/prints should be de-personalised and family/personal photos minimised and replaced with more generic photos. There should ideally be generic/themed photo frames used throughout a property to ensure consistency of presentation.

Curtains/blinds

Window dressing should be high quality, with the curtains/blinds of a simple chic style that has wide appeal. Garish colours or patterns should ideally be replaced.

Plants and flowers

Flowers can be used to add colour and warmth to a room whilst box hedging and indoor plants or bonsai trees can be used to create a feature within a living space. Rokstone work with By Appointment Only Design who are a specialist florist who provide luxury arrangements for VIP homes, special events and anniversaries.

Magazines and Newspapers

Glossy luxury magazines, broadsheet weekly and weekend newspapers and specialist publications should be used wherever possible. They should be neatly displayed on either a coffee table or side table and updated on a weekly basis. Outdated publications creates a poor impression and makes a property look unloved. Tabloid newspapers, free-sheets and freebie magazines should be avoided as they do not present the right image for a prestigious home.

Accessories

The top-five most popular brands are: Louis Vuitton (espcially the Dominoes), Hermes (throws), Missoni (cushions), Thomas Goode (dinnerware) and Halcyon Days (ashtrays).

Flooring

Like shoes, floors make a very strong first impression on people. Feature rugs, good quality carpets or luxury hard flooring is very important. Frayed carpets or rugs or damaged/old hard flooring should be replaced.

Master bedroom and bathroom presentation

The presentation of the master bedroom suite and master bathroom is crucial for successfully promoting a home to a potential purchaser. The owners of a home will spend most of their time in the main living room, kitchen/dining and main bedroom – so these spaces must be beautifully presented. Rokstone Home Styling highlight that the bed should be dressed with beautiful Nile cotton sheets and pillows and have feature throws from brands such as Jonathan Adler or Hermes. The bathroom should be dressed with high quality white fluffy towels, flowers, scents and beauty products from brands such as Chanel or Bvlgari and luxury soap from a brand such as Aesop.

Music and video

It is very important that there is an agreed playlist for both video and music for the home entertainment system of a property. The music and chosen film/video should have broad appeal, with the volume set low so as not to be overbearing for visitors.

So if a buyer wanted these top-12 selling tips implemented professionally in their home how does the Home Styling service work?

The Rokstone Home Styling service normally takes between one and two weeks from the initial appointment to completion. The first step is a Home Consultation and recommendations visit by the home styling team. This involves the property being assessed for its presentation quality, target buyer profile and appeal to potential purchasers. From this a list of recommendations is prepared for the vendor and once approved the changes are implemented.

Typically anything from 30 to 100 new accessory items are specially sourced and placed in the property, with the budget normally being between 0.25 percent to 1 percent of the overall value of the property. Once the home styling is complete a photoshoot and glamorous sales brochure/particulars are prepared for the property and it is then introduced to the market.

As part of the Home Styling process there are set procedures in place for all potential purchaser visits. There is a special home clean and inspection prior to the visit. This includes checking that all windows, taps and toilets work, and that all lights and home entertainment systems are operational. All flowers, candles and magazines/newspapers are also checked to ensure they are fresh/up-to-date.

Rokstone said that home styling delivers results and works highly effectively on any type of property that needs promotion. The smallest project Rokstone Home Styling have worked on is a 400 sq ft studio apartment in Marylebone, the largest a 6,000 sq ft Mayfair house.

The firm were asked to Home Style a Mayfair house that had been languishing on the market with other agents for over a year. Once Home Styled the transformed property was sold within four months. Similarly, another Mayfair property had been on the market for 14 months, once Home Styled an offer was made on the property within three months.

Becky Fatemi, Managing Director of Rokstone, said: “Home styling is extremely important in the American luxury property market. Most of our celebrity and VIP clients who have lived or worked in North America totally understand and appreciate the value that Home Styling can add to the sales and marketing equation.

“We did some staging for global celebrity P.Diddy for a palace he was using in Marrakesh. We had to fly over 400 accessory items to personalise and dress the palace for him including the finest Egyptian cotton sheets and pillows, Diptyque Baies scented candles and white orchids.”

She added: “The styling concept started in California in the 1990s with Hollywood celebrities staging their VIP rooms, guest suites and private homes for photoshoots and media interviews.

“During the global recession the concept was used as a useful sales tool in the luxury housing market in California and then moved into mainstream property marketing across the United States. London is just beginning to catch up with the concept and appreciate how important it is, especially for luxury homes. As in America where VIPs and tastemakers lead the mainstream will follow.”

www.rokstone.com


Watch the best moments from the Dot Property Awards in 2022

The Dot Property Awards returned in 2022 with a full complement of celebrations. We honored Vietnam’s best in Ho Chi Minh City, celebrated Thailand property in Bangkok, recognized Philippine real estate in Manila and ended the year with the Dot Property Southeast Asia Awards 2022 ceremony at Four Seasons Bangkok. It was an amazing 12 months.

Entries are currently being accepted for this year’s Dot Property Awards and
you can submit yours here
. But before we look too far into the future, let’s check out the best highlights from the Dot Property Awards in 2022.

Dot Property Vietnam Awards 2022

A record-setting 48 winners were honored at the Dot Property Vietnam Awards 2022 with Hung Thinh Land Joint Stock Company, Sunshine Group and Novaland Group among the most notable developers recognized. Celebrations last year focused on the real estate industry’s best and brightest coming together to champion the resiliency, recovery and sustainability efforts happening across the country’s property market.

Watch the Dot Property Vietnam Awards 2022 highlights

Dot Property Thailand Awards 2022

In August, we hosted the Dot Property Thailand Awards 2022 where 30 winners from across the Kingdom took home honors. Raimon Land, SC Asset and Major Development were just a few of the leading firms celebrated last year.

See what happened during the Dot Property Thailand Awards 2022

Dot Property Philippines Awards 2022

The in-person celebration last year was a triumphant return for the Dot Property Philippines Awards after restrictions required a special hybrid ceremony in 2021. More than 200 of the real estate industry’s best and brightest were in attendance as more than 25 awards were handed out during the evening.

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

Dot Property Southeast Asia Awards 2022

Last year was the first time since 2019 that the Dot Property Southeast Asia Awards were held fully in person with winners hailing from seven different countries. Nearly 300 property leaders were in attendance for the biggest night in Southeast Asia real estate that ended with fireworks over the Chao Phraya River.

Highlights from the Dot Property Southeast Asia Awards 2022

Be a part of the Dot Property Awards in 2023

Don’t miss your chance to be a part of Southeast Asia’s most exciting property awards series in 2023. There is no feeling quite like standing on the stage at the Dot Property Awards and accepting an honor for being the best in your respective category. The road to that moment starts by entering.

Click here to enter the Dot Property Awards 2023


Watch the Dot Property Thailand Awards 2021 Winners show and relive the excitement

Did you miss the Dot Property Thailand Awards 2021 Winners show live broadcast? Don’t fret, the replay is now available. You can either watch it above or
check it out on YouTube by clicking here
. More than 30 winners were honored this year and this special presentation celebrates them all.

Related:

Sustainability and innovation in real estate celebrated at the Dot Property Thailand Awards 2021

For more great video content, be sure to subscribe to the Dot Property channel on YouTube.


Wealth Asset Group spares no expense in creating outstanding projects and meaningful investments

Wealth Asset Group at the Dot Property Southeast Asia Awards 2020

Wealth Asset Group has elevated the standard of Pattaya real estate in the past year. This much is evident by collecting three awards at the
Dot Property Southeast Asia Awards 2020
 including Best Developer (Boutique Resorts). The developer has shown the ability and vision required to go beyond luxury living in Pattaya with the end result being projects that are unrivaled in terms of design, liveability or investment potential.

The Rhine Condominium has turned a lot of heads in Pattaya due to its ‘more than luxury’ philosophy. Developer Wealth Asset Group wanted to go beyond the upscale condo experience to offer property buyers a truly special residence. No expense was spared in the firm’s pursuit of residential perfection.

“The uniqueness and success of The Rhine Condominium comes down to our determination to offer a quality product,” Khun Ao Varinnicha Tangraintong CEO Wealth Asset Group, explains. “That Includes our mock-up room, investment program with guaranteed returns and our concept that is more than luxury. This is beyond a residence.”

Located in Pratumnak, a lot of effort was also put into ensuring The Rhine Condominium was a place that everyone could enjoy. From the stunning residences with luxurious finishes to the wide array of facilities, the project is a modern sanctuary for those staying here.

Wealth Asset Group wins three times at Dot Property Southeast Asia Awards 2020:

Best Developer (Boutique Resorts)

Best Boutique Condotel (Rental Program) – The Rhine Condominium

Best Innovative Investment Product – The Rhine Condominium

“Every time people visit a property like a condominium, it’s not always relaxing,” Khun Ao says. “Our concept focuses on the full range of facilities that bring enjoyment for all families and generations.”

Khun Ao Varinnicha Tangraintong CEO Wealth Asset Group (left)

A great deal of consideration was also put into creating the project’s investment program. Unit owners are promised a rental guarantee of eight percent annually during the first five years in addition to being able to stay at the condominium for up to 27 days each year. A 110 percent buyback option is available as well.

“Regarding the investment program at The Rhine Condominium, this is not a new concept, but ours is a superior offer to others,” Khun Ao proclaims. “We always think that customers deserve a straightforward revenue scheme providing excellent returns, so that is what we have done with our program.”

It’s safe to say the project is different from any other condominium on the market and Khun Ao reports that sales have been brisk with buyers attracted to project’s overall quality. While many residential developments in Pattaya promise the luxury residential experience, the launch of
The Rhine Condominium
 has gone beyond those promises to elevate the entire property market.

Speaking of the Pattaya property market, The Rhine Condominium is well positioned to take advantage of the region’s future growth. The city hasn’t been immune to the COVID-19 pandemic with tourism having declined significantly, but CBRE recently released a report highlighting the Eastern Seaboard’s long-term potential.

“Pattaya is a continuously-growing city that keeps developing, including EEC and areas expected to help elevate this part of Thailand. Pattaya is close to Bangkok, and the city has both Thai and foreign tourists,” Khun Ao says. “During current situation, Thai tourists still visit Pattaya. But the city’s tourism sector still has a lot of room for growth.”

Wealth Asset Group builds a foundation for success

The Rhine Condominium was designed with a ‘more than luxury’ philosophy

For Khun Ao, the launch of The Rhine Condominium is the culmination of a lot of hard work over the years. She has learned the ins-and-outs of the real estate industry firsthand, gaining valuable experiences along the way.

“I have been in the real estate industry for about ten years. Even as a minor agent, I planned to become a developer, but my dad taught me that it is necessary to learn every step completely before starting any business. So, I worked for a contractor in sales. And I worked as a senior marketing and sales manager of various companies, some which weren’t successful,” Khun Ao recounts.

She continues, “Even when I worked for those companies that weren’t successful, I was still able to learn what errors can happen in business. My previous experiences taught me how to work and achieve success. The key is minimizing errors and making each project perfect.”

Despite being a relatively young developer, Wealth Asset Group is primed for long-term success. The firm has THB50 million in registered capital with no bank debts. Additionally, Khun Ao has put a strong team in place to ensure the company can reach its ambitions and offer clients the best.

“We plan to be the best, but this is the goal of everyone. The key achievement we hope to accomplish is to become a public company. From design and aftersales service to products and quality, we want to make sure our clients are getting the best,” Khun Ao explains. “We believe that being sincere and honest with our customers will help take us to the top.”


What do buyers want?

If you’re just starting out on the search for your perfect property, or if you are looking to sell or rent your home, here are the top five features that buyers look for in a home according to one survey conducted by a top British financial institution. Useful information, no doubt, to make the most of and make sure your own property ticks all the boxes for potential buyers.

Location, location, location

Unsurprisingly location was the number one factor in choosing a home, with more than 73 of people putting this at the top of their list of must-haves. Choosing where to live is extremely important and matters on many different levels. Before starting out on the property hunt ask yourself a few questions to decide on where you might like to live:

Do I want ‘city centre buzz’ or ‘quieter country life’?

How close do I want to be to friends and family?

Do I need good transport links to work?

Do I need to be close to good schools and parks?

Property size

Some 68 percent of people surveyed said that the size of the property was an important factor in buying a house. It might seem obvious but making sure you’ll have the space you need now (somewhere to eat, sleep and relax) as well as in the future should be a key part of selecting a property. What if a partner moves in or you decide to have children or pets? You should consider if the space will fit your lifestyle now and in years to come.

Garden and outside space

Outside space comes in a number of guises: gardens, yards, balconies; they all have their benefits. A total of 61 percent of people were looking for a property with some sort of outside space. If you’re looking to sell make sure you’re making the most of the outside space you have to offer.

Layout

A total of 56 percent of people surveyed said that the layout of a property was important to them. It’s easy to be tempted by a great layout, but remember there may be room for compromise on this if everything else ticks the boxes. Plus, there’s always the option to change the layout yourself. Whether it’s knocking down a wall to make a bright open plan kitchen/diner, or increasing the size of the living room because there’s no need for the study next to it, you’ll have the freedom to create a great space that works for you.

Off-street parking

Whether you’re in the heart of the city or the serene suburbs, it’s always comforting to know that your car is safely tucked away when at home. A total of 53.1 percent of people labelled off-street parking a dream feature, so if you’re likely to have sleepless nights worrying that your car could be damaged, consider making this an essential part of your property search. Ensuring your driveway is in good condition and usable is also a key factor in making your property attractive to potential buyers.

What are your top five “wants” when choosing your perfect property? We’d love to know. Leave your comments with this story.


What’s the easiest way to obtain a Thai visa when buying property in Thailand?

A common misconception many overseas real estate buyers have when it comes to Thailand is that purchasing a property guarantees them a visa. That is simply false. There is one option available to property buyers: the THB 10 million (USD324,800) investment visa.

It is a good option, but one that is limiting. For starters, the only property covered under this visa is condominium units in a new-build development. Anyone applying for this visa is required to provide evidence that at least THB10 million has been transferred into the country as well.

Investors keen on other property types or who don’t want to transfer that much money into Thailand are out of luck. And then there is the process of applying for the visa, which is time consuming, even with the help of a lawyer. It also can’t be started until the THB10 million is in Thailand.

The smart alternative

The Thailand Elite residence program is an alternative way to obtain a Thai visa when buying property in Thailand. Having a privilege entry visa ensures holders the right to stay in Thailand for up to 20 years along with a range of additional complimentary services and benefits.

There are no minimum residency requirements for holders of the privilege entry visa. They can stay in Thailand for as long as they wish within the parameters of their chosen program. Unlike other visa types, including tourist and retirement options, the privilege entry visa provides much more flexibility.

Several options are available under the Thailand Elite residence program with 5, 10- and 20-year visas offered. Additionally, select programs include visas for family members as well.

Unlike other visas issued by the Thailand immigration bureau, the privilege entry visa comes with far reaching benefits all designed to make life easier from the moment you arrive in the Kingdom.

There is the VIP greeting and assistance from an Elite Personal Assistant that is provided on international flights arriving and departing Thailand along with exclusive access to arrival and departure lounges. You’ll also be able to take advantage of expedited immigration formalities and passport-control processing, something frequent travellers to Thailand are sure to appreciate.

Another benefit of the privilege entry visa is that you can enjoy Airports of Thailand limousine transfer service to/from your hotel or residence. Complimentary government concierge services are also provided to visa holders. These benefits include assistance with 90-day reporting, business networking, help obtaining a Thai driver’s license, opening a Thai bank account and much more.

Finally, holders of the privilege entry visa can have peace of mind knowing the program is organised by the Tourism Authority of Thailand under the Ministry of Tourism and Sport.

Why should property buyers consider the Thailand Elite residence program?

Benefits of the Thailand Elite residence program include expedited immigration formalities and passport-control processing at airports throughout the Kingdom

If you’re purchasing a property in Thailand and plan on regularly staying in the country, a privilege entry visa is the ideal choice for a few reasons. Obviously, the benefits alone ensure your stay in Thailand is hassle free.

For example, if you own a villa or condo property in Phuket, the benefits provided by the Thailand Elite residence program paves the way for a peaceful holiday. Breeze past immigration, hop into your airport transfer and start your holiday.

The Thailand Elite residence program also eliminates pain points that other visa types can bring. Visitors who arrive to Thailand on multiple tourist visas are now finding themselves being stopped and questioned by immigration officials more frequently. Meanwhile, greater enforcement of the Thai retirement visa requirements has made the yearly extension process much more difficult than in the past.

One of the most underrated aspects of the Thailand Elite residence program is that real estate agents can offer clients the ability to join when purchasing a property. Not only can you acquire the property you want, but at the same time you now have access to the utmost comfort during your time in the Kingdom. If you’re thinking about buying a property in Thailand and are also interested in obtaining the privilege entry visa, be sure to ask your real estate agent for more information.

The application process for the Thailand Elite residence program is streamlined and it takes approximately one to three months to get visa issuance. More importantly, you won’t need to make endless trips to the immigration office and submit a mountain of paperwork. It can even be done concurrently with the property purchase. This is impossible with the investment visa which requires you to already have a non-immigrant visa and proof of investment before applying.

You can contract Andrew Raming, Senior Manager, Henley & Partners Thailand, at +66 (0)  9878 77808 for more information about the Thailand Elite residence program.


What’s in a name?

From Malmo’s Turning Torso (pictured) to London’s Shard, names add a certain something to a building. In the case of Shanghai’s Jin Mao Tower, it’s aspiration: Jin Mao means ‘golden prosperity’.

Today’s tenants are not just viewing potential space when they move office; they’re also viewing names, often bestowed by developers and agents, keen to let buildings.

Names are equally impactful in residential schemes, according to Helen Gough, Lead Director, Buildings and Construction, JLL UK.

“We were working on a project to convert a former factory into a four-storey high-end residential space and wanted a name to reflect its musical heritage,” she said.

“Although its working title was The Piano Factory, following a detailed review of its background to support the planning application we found it used to manufacture brass instruments. It was therefore formally launched as The Brassworks – complete with some references to its former life in the interior design elements of the reception area.”

Over in the Gulf States, meanwhile, real estate developments often acquire a name when they’re very much in the blueprint stage.

“Building names are often part of marketing strategies to sell off-plan property,” Kevin Mitchell, interim provost at the American University of Sharjah who also teaches the university’s College of Architecture, Art and Design, told United Arab Emirates news publication the
National
.

“The names applied to real-estate projects are intended to evoke exclusivity or conjure up idyllic images that may not represent the reality of completed buildings.”

Historical names

The recipe for a successful name, it seems, is staying clear of current personalities or brands.

“Names that have stood the test of time add cachet to a building, even if they don’t add any commercial value,” said Gough.

The Chrysler Building in New York and the Harrods Furniture Depository in London are two such examples. Occupiers choose to be in these buildings because of their location and spec and, originally, both were built and occupied by the named companies – a trend far less common today. Construction is rarely solely funded by a single owner-occupier, hence fewer brands are woven into the fabric of modern buildings.

But that doesn’t stop today’s tenants, acutely aware of a building’s brand value, trying to make their mark and get themselves attached to a building somehow. They often request to change a building’s name when negotiating the lease. Salesforce famously sought to rename London’s Heron Tower to Salesforce Tower. Their efforts didn’t succeed. But in Chicago, Willis’s did, when they renamed the Sears Tower in 2009.

This is a rare example, said Gough.

“We’re seeing fewer corporate egos dictating what buildings are called. Perhaps it’s because of more multi-occupancy use on shorter lease terms or perhaps it has become too risky to tie up a building’s identity with a dominant occupier.”

The public say on nicknames

Regardless, however, of how a building is branded, the public will always have its say. In Glasgow there’s the Armadillo, aka The Clyde Auditorium and in Prague, Frank Gehry’s Nationale-Nederlanden building is referred to as Fred and Ginger.

But nowhere are nicknames more apparent than in the City of London where the Gherkin, Walkie Talkie, and Cheesegrater have become terms of endearment. Not only are they humorous, they’re also descriptive and so probably initially were used to help tell the buildings apart in a city unaccustomed to skyscrapers.

On rare occasions nicknames grow into official titles. A London Thames-side building, developed initially as a power station previously known in as Stamford Wharf, is now legitimately called the OXO Tower, taking its name from the letters on the tower’s window design incorporated in an Art Deco refurbishment to advertise the product of the company who acquired the property in the 1920s .

But while the British are happy to nickname their buildings, other cultures are less keen. As John Brash, the founder and chief executive of Brash Brands, told the
National
: “Why doesn’t it happen in the UAE? Maybe because that particular brand of humour is less common here, and because we’re more comfortable with using the names our buildings are given. The Burj Al Arab will always be the Burj Al Arab to us, whereas if it was in London it might end up being known as ‘the big sail’.”

Such frivolity can also jar with architects, however, who are concerned about their reputations and potential occupants, who fear for their corporate identities. And nicknames have proven unpopular with City of London planners, who are keen to promote a more sober international business center in these post-recession times.

But things could be worse: in Barcelona, architect Jean Nouvel says his 38-storey Torre Agbar is meant to represent a geyser rising into the air. Locals, however, know it as ‘el supositori,’ the suppository, among other, blunter names.

This article was first published by JLL on their
www.jllrealviews.com
 website and is reproduced with kind permission.


What’s a luxury surf villa? Go inside one of Lombok’s most unique developments

A luxury surf villa sounds awesome. And a luxury surf villa in Lombok, Indonesia’s ultimate paradise? Well, in the 1980s they would describe that as totally tubular. Jokes and old-timey surfer lingo aside, Selo Group’s Luxury Surf Villas is offering an experience and investment opportunity unlike anything currently available in Southeast Asia.

While there are plenty of outstanding surf spots across the region, there aren’t many developments taking advantage of this. What’s more, surfing is one of the fastest growing sports in the world. This group is diverse with surfing-focused vacations and a transition to a more high-end customer already taking place.

Natural beauty, white sand beaches and lots of big waves make Lombok’s southern coast an ideal destination for surfers. Before travel restrictions brought on by the COVID-19 pandemic, Lombok was being frequented by surfers from across the globe. This will very likely be the case once things return the normal.

Singapore-based developer Selo Group has tapped into this growing market with Selo Group’s Luxury Surf Villas. Located next to the developer’s Selong Selo Resort, this collection of 20 exclusive luxury surf villas have been carefully designed for surfing enthusiasts.

Related:

The island lifestyle of Lombok is helping propel the real estate market

Here’s what a luxury surf villa in Lombok looks like

Lombok is home to some outstanding surfing

Each luxury surf villa inside the development captures the spirit of Southern California with designs inspired by upscale Malibu beach homes. Situated on a hillside overlooking the ocean, each residence maximizes the amazing views with bedrooms and common areas facing the water.

Studio, one or two-bedroom villas are available at Selo Group’s Luxury Surf Villas with every residence having its own private plunge pool. They all feature open plan layouts with floor-to-ceiling windows throughout. There is also a large deck with plenty of room to store your surfboard after a day riding the waves.

Villas come with a curated furniture package that adds a touch of luxury. Meanwhile, a number of other bespoke features at the resort allows you to focus on fun. These include full housekeeping services, rental management and a full suite of amenities.

Like all projects from Selo Group, Selo Group’s Luxury Surf Villas is being developed with eco-sustainability at the forefront. The entire development will be built under the firm’s “zero waste” construction process and utilize the best in green technology.

Owners are free to use their luxury surf villa as a full time residence or as a holiday home that is rented out when not in use. For more information: selogroup.co/luxury-surf-villas


What’s the outlook for Malaysia property in 2019?

The past few years haven’t been great for the Malaysia property market. A glut of unsold units, foreign ownership regulation uncertainty and a slow overall market have all contributed to less than ideal conditions. However, there may be some hope on the horizon.

The country is predicting positive GDP growth forecasts of 4.8 percent in 2019 and 4.9 percent in 2020. This should help improve purchasing power. Additionally, Knight Frank revealed that it expects the Kuala Lumpur luxury condo market to improve this year in a recent report.

That is the market segment of interest to most international real estate investors who can only acquire
Malaysian properties priced at MYR 1 million (USD 256,500) or above
. Should the country’s property market be on the road to recovery, shrewd property investors should act now.

“Not many countries in the region or around the world allow foreigners to own freehold properties. Secondly, price per square feet for Malaysia property is still one of the lowest in the region,” former Malaysia Property Incorporated Vice President David Shieh told the Malay Mail last year.

See more:

Why are overseas investors acquiring luxury real estate in Malaysia?

Chinese real estate investors began returning to Malaysia late in 2018 after staying on the sidelines in the aftermath of last year’s election. Malaysian Prime Minister Mahathir Mohamad spoke out against foreign real estate ownership, but no new regulations have been enacted.

“Prime Minister Mahathir’s comments discouraged all overseas buyers, not just Chinese, by injecting a shot of uncertainty into the market. What our data suggests is that the decline in buyers has not been so great as sometimes believed and that a recovery is very much underway,” Carrie Law, CEO and Director of Juwai.com, explained.

Penang property market solid but glut remains

A glut of unsold units sitting on the market hasn’t impacted the
Penang real
estate
 market, according to the local government. The island’s real estate scene remains solid with the government committed to affordable housing.

“The market is very strong despite reports of (unsold) units throughout the whole country,” Jagdeep Singh Deo, Penang Housing, Town, Country Planning and Local Government Committee Chairman, said during a press conference. “We hope that in 2019, we will see more federal-initiated affordable housing programmes and measures for first-time homebuyers.”

In other Penang property news,
the local government raised the real estate price floor for foreigners purchasing a home
. The minimum purchase price on the island is now set at MYR 3 million (USD 742,000) for landed property and MYR 1 million (USD 257,550) for stratified unit.