Expat cost of living in most of Southeast Asia falls due to weakening currencies

The expat cost of living fell in Kuala Lumpur and Bangkok during the past year

Expat cost of living in most of Southeast Asia declined during the past 12 months due in large part to weakening local currencies. Research from ECA International found Singapore remains the region’s most expensive place for expats to reside while Bangkok,
Kuala Lumpur
 and other places fell in the organization’s latest global cost of living rankings.

ECA International noted
Singapore
 was in a unique spot over the past year. Its position in the global cost of living rankings remained unchanged despite seeing some significant price rises.

“The fact that Singapore retained its ranking as the 13th most expensive location globally despite higher than-average inflation of five percent, which was fueled by rising costs for rents, utilities and petrol, may come as a surprise to some,” Lee Quane, Regional Director – Asia at ECA International, noted. “This was because the Singapore dollar has weakened against regional currencies, such as the yuan, and the US dollar at the same time, mainly due to a sharp slowdown in manufacturing and exports during the latter part of our survey period.”

In Thailand, the weakening Thai baht against the US dollar and UK pound along with relatively low inflation saw Bangkok fall 13 spots in ECA’s global cost of living rankings. Even with items, such as gas, becoming more expensive, expats living in the city now find their money going further.

“Bangkok saw a large increase in petrol prices – a rise of 33 percent over the past 12 months. But with housing costs in districts popular amongst expatriate residents falling during the same period, overall levels of inflation were lower than those experienced in many other locations. The slow pace of the recovery in the tourism sector also hit the Thai baht during the survey period, contributing further to Bangkok’s fall in our rankings,” Quane reported.

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Elsewhere in Southeast Asia, Malaysia, Laos and Myanmar all saw expat cost of living decline during the past year. While the economic situation did vary in each location, all three countries recorded currency weakness which contributed to the decline.

“While Laos and Myanmar experienced high rates of inflation – almost 10 percent – in the past 12 months, they still fell in our rankings as their currencies have weakened considerably,” Quane said. “Laos was struggling with both lower exports to China, and the affordability of its rising foreign debt. In the case of Myanmar, currency weakness was due to the economic paralysis which followed the coup in 2021.”

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Flight bookings pickup as borders reopen in Southeast Asia


Expat rents decline in Bangkok, Hanoi and Singapore

Expat rents are down across Asia with noticeable declines recorded in Bangkok, Hanoi and Singapore last year. According to research from ECA International, expat executive standard accommodation rents in locations reliant on overseas tourism were impacted the most due to the ongoing COVID-19 pandemic.

“Rental prices have dropped in many locations across Asia over the past year, but this has been especially notable in locations which are heavily reliant on overseas visitors and residents, such as Thailand and Vietnam. Average rents in Bangkok have dropped by over 12 percent in just one year, while Hanoi and Ho Chi Minh City have seen a negative swing of nine percent and six percent respectively,” Lee Quane, Regional Director – Asia at ECA International explained.

He continued, “The rental market in these locations is heavily tied to the fortunes of the tourism industry, and landlords who previously rented out accommodation on a short-term basis, have since converted these to long-term leases – thus increasing supply and reducing market rents further. Therefore, it is unlikely that we will see a change to this trend until international travel is fully open again.”

Singapore remains the most expensive rental market for expats in Southeast Asia, although prices here only declined by slightly more than two percent in 2020. The dip halts several years of expat rent increases in the city-state.

“Rent levels in Singapore are always notably stable and this year is no different, with the country seeing only a slight dip in market rents,” Quane stated. “This is likely the consequence of COVID-19’s impact on the wider economy in Singapore. Moreover, with greater immigration restrictions for overseas workers set in place, this has suppressed the demand for accommodation in the country this year.”

Hong Kong was most expensive location in Asia for expat rents once again followed by Tokyo, Shanghai, Yokohama and Seoul. In the global rankings, expat rents in Singapore were 26
th
 most expensive while Bangkok ranked 49
th
 and Hanoi finished 81
st
.


Why do expats choose to retire in the Philippines?

More expatriates are choosing to retire in the Philippines. People from the USA, Australia, Singapore, Hong Kong and many Nordic countries are all enjoying the Filipino lifestyle these days. Ever wonder why more expats are looking to retire in the Philippines? There are quite a few reasons, but here are four of the most popular ones.

4 reasons expats want to retire in the Philippines

The beautiful beaches

The beaches around Dumaguete makes it a popular place for expats looking to retire in the Philippines

Among the first things most expats wanting to retire look for are picturesque beaches. After having worked hard to save for this moment, retirement should be one long holiday. Beach destinations remain the most popular place for expats to retire and there is no shortage of sandy shores and beautiful blue waters in the Philippines.

Cebu is growing as a retirement destination thanks to a growing city and access to countless beaches. Meanwhile, Dumaguete has arguably been the go-to spot for expats looking to settle into the retired life thanks to its sparkling beaches and laidback ambiance.

Search for Dumaguete properties

Low cost of living

If the first thing most expats look for in a retirement location is the surroundings, the second aspect is cost of living. While places like Thailand and Cambodia may be cheaper, the cost of living in the Philippines is competitive with these countries. According to research from International Living, most expats can live comfortably on USD 1,000 per month. This total includes dining out and domestic travel and tends to be less than most monthly pensions or social security benefits.

Desirable retirement visa

Retirement visas play a big role on where expats decide to retire.
The Special Resident Retiree’s Visa is issued by the Philippines’ Bureau of Immigration
 is among the best. Privileges include multiple-entry access with the right to stay indefinitely in the Philippines. Those with pensions aged 50 and above need to have a monthly pension of USD800 and deposit USD 10,000 in a bank account while those without a pension can deposit USD 20,000 in a bank account to be eligible for the visa.

Familiar culture

Perhaps the most overlooked aspect is the familiar language and culture the Philippines offers expats choosing to retire in the Philippines. Retirees coming from places such as the USA and Australia will likely be familiar with Filipino culture thanks to the large diaspora. Even those without the experience are comfortable in the country thanks to the widespread use of English. This makes the Philippines more desirable than other Asian countries where language and communication can be an issue.

Find a retirement home today


Where is the most expensive place to live?

Recent findings rank the least affordable place to buy property in the world.

It has been revealed that Hong Kong is the most expensive place to buy property in the world. This is the seventh year that Hong Kong has topped the global rankings.

This is according to findings in the Demographia’s International Housing Affordability Survey who have just released their 13th edition of their report. In order to rank affordability, they calculate each country’s ‘median multiple’. This is worked out by dividing the average house price by the average household income. Any score in excess of 5.1 is considered to be ‘severely unaffordable’. In 2016 Hong Kong scored 18.1. Therefore the price of property is 18.1 more times than the average annual income, although this is a slight decrease from its score of 19 in 2015.

Hong Kong’s government have been taking measures in order to cool the market. Similar to those that have taken effect in Singapore, in Hong Kong these measures have included rising taxes and penalising foreign investors or those looking to purchase a property who do not fall under the first time buyer category.

Second in the ranking is Sydney with a score of 12.2. This is followed by Vancouver with 11.8, Auckland with 10 and San Jose scoring 9.6.

As the Yuan is still weakening, many Chinese are looking for opportunities outside of the Mainland China. Property continues to be an attractive asset forming part of people’s investment portfolios. However the news of Hong Kong’s staggering values may deter buyers, which could be to the benefit of other markets across the region.


Why are experts excited about Birmingham property investment?

Birmingham property investment is a savvy play according to several real estate experts

England’s second city is now first in the eyes of many real estate experts when it comes to property investment. Birmingham is currently undergoing several massive regeneration projects while banking powerhouses Deutsche Bank and HSBC are just a few of the organisations to open new headquarters in the city.

It’s all part of Birmingham’s Big City Plan, the UK’s most far-reaching development project ever, that will help bring an estimated 50,000 jobs to the city by 2022. Population growth is also expected to skyrocket with an estimated 171,000 new residents likely to settle down in the city between now and 2039.

And with new residential, retail and office buildings being built and more people moving to England’s second city, real estate experts are bullish on Birmingham property investment. The 2017 PwC and Urban Land Institute’s Emerging Trends in Real Estate report ranked the city as the sixth best place in Europe for investment prospects.

Location matters when it comes to Birmingham property investment

Like all real estate investment, it is important to select the right location in Birmingham for the best possible returns. According to Knight Frank, investors can expect yields of 5.5 to 6 percent from projects in central Birmingham. A lack of available space in the city centre couple with strong demand from those working in the area makes this the ideal location for Birmingham property investment.

“People moving (to Birmingham) with their companies want to live in the core. We are seeing a high number of repeat investors from London and the South East wanting to get their hands on anything in this area. They see it as a safer bet than London and with much more room for profit growth,” Peter Smith, residential development associate at Knight Frank,
explained to the Telegraph
.

Looking for Birmingham property or other new homes in the UK? Dot Property has a number of properties in England on our network of sites.
Click here to start your search
.


Explore Kingston, London’s education hub

Kingston University London is one of 30 schools in Kingston, London’s education hub

London is highly regarded for the quality of its schools. The city boasts leading educational institutions across all age groups. From pre- and primary schools to secondary schools and universities, London provides the best educational opportunities to students. However, one borough stands alone as the capital’s education hub.

According to
The Good Schools Guide
, Kingston is the best borough when it comes to schools. There are several reasons for this. Firstly, 100 percent of the schools in Kingston are ranked as either outstanding or good by the Office for Standards in Education, a non-ministerial department of the UK government that reports to Parliament.

Secondly, Kingston has one of the highest proportions of good passes at GCSE in English and maths, according to the Department of Education. More than two-thirds of pupils in Kingston finished year 11 with a grade between nine and five in the two subjects. It is only one of two London boroughs to achieve this.

Outside the classroom,
Kingston was named as one of London’s best boroughs for families
. This was due to its low crime rate and lack of pollution. The borough also received high marks for health and peace in addition to having some of London’s top schools.

Learn more about Kingston’s most exciting property development

What schools are in Kingston?

Kingston Grammar School is within the top one percent of secondary schools in the UK

Across all levels, Kingston is home to some of the UK’s most highly regarded schools. Among these is Tiffin School and Tiffin Girls’ School which are among the country’s best secondary schools. Tiffin School sends a minimum of 20 students to Oxbridge institution annually. Meanwhile, Kingston Grammar School is within the top one percent of secondary schools in the UK and is considered to be the same standard as the well-known Eton College.

Kingston is also a leading destination for further education. There is Kingston University London which was ranked as one of the
 top 200 young universities by the Times Higher Education
. It is one of the UK’s top two universities for business and holds AACSB accreditations that place it in the top five percent of business schools worldwide.

Other further education options include Kingston College, which provides vocational and undergraduate courses for those over 16, and St. Mary’s University, a TEF Silver award recipient for high-quality teaching, learning and outcomes for their students.

Property investment in London’s education hub

Royal Exchange is a new development from St George

Buying a residence in Kingston, London’s education hub, is a sound decision regardless of if you plan on using it for your own child or as an investment property. One new project in the borough is strategically placed to provide parents with the ability to choose the school that is best for the children.

A home in Royal Exchange can mean educational freedom. Traditional or progressive, academic or vocational, a choice of schools and colleges to build character and confidence, a love of learning – and to prepare the next generation with skills for life.

The central location of Royal Exchange in Kingston places it near 30 schools with 14 of these less than a 15-minute walk away. This ensures the ability to select the schools best suited to your child as opposed to making an educational decision based upon location.

Royal Exchange is a new development from St George, a member of Berkeley Group. One-, two- and three-bedroom apartments and penthouses are available with each one featuring designs that cater to the needs of modern families and students. No project is set up for the success of students quite like Royal Exchange.

Click here for more information about Royal Exchange


Explore two of the most impressive Phuket condotel projects

Melia Phuket Karon Residences is one of many exciting Phuket condotel projects in the pipeline

With the first wave of tourists arriving to Thailand, there is light at the end of the tunnel. It may be some time before the number of visitors returning the popular destinations like Phuket reaches pre-pandemic levels, but there is little doubt that it will happen.

That’s because Phuket is historically resilient. In the past two decades, the island has faced the tragic 2004 tsunami, the SARS epidemic, the Bird Flu scare and two coup d’états. And once each situation came to pass, the recovery was swift.

Which brings us to present day. The local market is struggling with many developers offering discounts to entice buyers. For savvy real estate investors, purchasing now can ensure they are well placed for Phuket’s eventual recovery.

Phuket condotel projects remain among the most interesting investment opportunities available. If you’re unfamiliar with a condotel, it is a building where the units are sold to individuals like a condo while being operated by a hotel brand who incorporates their standards, management and marketing into the project.

Let’s take a look at two of the most impressive Phuket condotel projects currently on the market.

Melia Phuket Karon Residences

The highly regarded Melia hotel brand has been enlisted to operate Melia Phuket Karon Residences. Nestled between the mountains and sea, the project allows residents to stay connected to nature at all times. The residences provide sublime panoramic views of the Andaman Sea with the
73 condominiums and villas
 each offering stunning glimpses of the beautiful blue waters.

Melia Phuket Karon Residences allows you to have a personal paradise thanks to its low density. Units have been spread out to guarantee privacy and exclusivity. Additionally, the project has its own beach club where you can lounge away on one of the island’s most pristine beaches.

For those interested in the investment aspects of the development, Melia Phuket Karon Residences has an outstanding rental management program that allows for 30 days of personal usage for you, friends and family each year along with strong returns.

Learn more about Melia Phuket Karon Residences

Grand Breeze Park Condotel

Grand Breeze Park Condotel

Grand Breeze Park Condotel
 is located in the hills just south of Kamala Beach and boasts an outstanding design featuring five buildings. The project will be operated as an upscale hotel with a range of amenities including a spa, fitness center, a restaurant and a range of boutique shops.

Perhaps the most impressive amenity is the sky garden which spans all three buildings and offers some of the most beautiful views around. There is lush greenery while residents will be able to enjoy the use of a BBQ area that is exclusive to them. The end goal is to create a development that is family friendly and popular with all types of travelers.

What’s more, Grand Breeze Park Condotel is one of the most affordable Phuket condotel projects which has made it extremely attractive for investors, holiday home seekers or those wanting one property to do both. A rental program with property management is available to interested buyers.

Click here to see units for sale in Grand Breeze Park Condotel


What factors do you need to consider when choosing a serviced office in Southeast Asia?

Serviced offices continue to grow in popularity across Southeast Asia and for good reason. This flexible option allows businesses of all sizes to cut costs, avoid multi-year leases and pay for only what they require. And while that sounds great, there are things you need to consider when going down this route.

Simply put, making the switch isn’t as easy as doing a Google search and selecting the cheapest choice. It’s also important not to get lost in a sea of buzz words where countless serviced office operators make pie in the sky promises that aren’t realistic. There is a lot to parse through, but everything starts with your needs.

That is why we’ve put together some of the factors you need to consider when choosing a serviced office. Starting a search with these in mind will ensure you find the best possible space.

Keep Reading:
The future of the office is dependent on employees

1) Location and views

There is a reason why we don’t work in windowless buildings far away from the CBD. That would not be a productive environment for anyone. This means location and views are important. For starters, it should be easy for employees to get to their workplace. This will obviously be a key consideration when selecting a serviced office space.

However, don’t overlook the impact views can have on a daily basis. When you or someone on your team looks around and sees an inspirational view of the city, it helps maintain a positive vibe. Of course, these oftentimes come at a premium price, but it is usually possible to find a space that balances all three concerns.

2) Flexibility

Given everything that has happened over the past two years, flexibility has become the name of the game. It is vital your serviced office operator provides you the ability to scale up or down at a moment’s notice. We mention this here because a lot of spaces claim to have this ability but can’t always deliver. Make sure you know the scaling terms and how the process will work before agreeing to anything.

3) Brand reputation

With so many serviced office operators and co-working players in Asia, it isn’t easy to find a name you’re familiar with. What’s more, continued consolidation and difficult business conditions mean these spaces are coming and going without warning. That level of uncertainty is not ideal for your organization.

This is also why businesses like yours trust Regus for their serviced office requirements. Having been at this for decades, they have the best collection of locations and views across Southeast Asia with a presence in most major areas. Their modern spaces are thoughtfully designed to ensure maximum productivity.

What’s more, they have the knowledge and capability to handle your scaling specifications. And with transparent pricing, you always know what you’re paying for.


Feng shui design tips 2020: get your home ready for the Year of the Rat

Now is a good time to look at how you can improve the feng shui around your home for the Year of the Rat

We have officially entered the Year of the Rat and now is as good of a time as any to think about your home. No matter if you live in a house, condo or villa, these feng shui design tips 2020 will help bring in positive energy. And if you’re an investor wanting to make your property more attractive to renters, feng shui can be a unique selling point.

It is important to find balance, so don’t feel as if you need to commit to all the feng shui design tips 2020 listed here. Avoiding clutter is critical, so only make changes that fit into the flow of your property.

Feng shui design tips 2020

Lucky colors

Our feng shui design tips 2020 start with choosing the right colors. The lucky colors for 2020 are blue and gold which symbolize water and metal, respectively. Now, we don’t recommend painting your walls in either color, but finding accents or décor that can be seamlessly integrated into your current interior design is a good idea. For example, if you have pictures in your house, swapping the frames to gold ones won’t clash with most room styles and brings in good luck.

Embrace water

Water is very important in the Year of the Rat so it is no surprise that it features heavily in the feng shui design tips 2020. One of the keys to the art of feng shui is eliminating things that can cause negative energy flows. This doesn’t mean tearing down your home and rebuilding it. Instead, find remedies that restore and energize ch’i.

One way to fix negative feng shui is to incorporate kinetic energy into your living space. Something like a small water fountain on a table or shelf can accomplish this and add a bit of overall peace to your home.

If you want to improve the flow of ch’i, hanging pictures of bodies of water, such as beaches or rivers, is the way to go. And since blue is a lucky color for the Year of the Rat, doing this helps on two fronts this year.

Let there be light

Light flows are important for feng shui

Light flow is extremely important and we end our feng shui design tips 2020 here. The first thing you can do to improve lighting is relatively simple: clean your windows. If you haven’t done this in the while, the buildup of dirt and dust could be restricting light flow and make things darker in your home.

Secondly, go around your house and see if there are any dark or dimly-lit corners or rooms because these are a source of negative energy flows. In many modern residences where lighting fixtures come pre-installed, this is a common problem. You can remedy dark areas by adding a lamp to these spots. A strategically placed mirror that reflects light into these places is also a positive solution.


Feng shui follies: design mistakes to consider before moving

Feng shui plays an important role when it comes to home design in Asia. From interior design to the shape of the building itself, the multi-disciplinary art is a factor for both homebuyers and renters looking to side step bad vibes.

So what is feng shui? At its core, feng shui is essentially the art of placement. Its forces are subtle but can have a great impact on your life, especially in the home where you will spend a considerable amount of time. Regardless of if you want to add value to your home or simply want more positive energy, here are a few feng shui mistakes to look out for.

Avoid these feng shui follies

Funnel shape plot

As available land in metropolises shrinks, some odd shaped land plots have been created. This has forced developers to utilise them despite their unique sizes. In feng shui, a land plot that is shaped like a funnel, larger at the front and small at the back, is no good. It can make accumulating money difficult and is believed to cause health problems.

How to avoid:
Explore the plot of land a project is built upon to see if it is funnel shaped. While most projects are still built on square- or rectangle-shaped plots of land, this is not always the case.

Kitchen in the northwest

The breadwinner is represented by the northwest corner of a residence. In feng shui, this space is called the heavenly palace. When this corner contains a kitchen, outdoor grill or other heat source, it means the breadwinner is at risk of suffering a severe loss.

“An arrangement such as this can cause the man to leave, difficulty holding on to a man or attracting a man if the woman of the house is single, or causing severe loss for the man such as by accident, major illness, or job or financial loss like bankruptcy,” Kathryn Weber, a feng shui design expert, explains.

How to avoid:
Break out the compass, or the compass app on your phone, when inspecting a house or condo unit to see what direction to kitchen is located in.

A shoji, a Japanese-style room divider

Bed alignment

When it comes to feng shui, one of the gravest offenses is when the bed aligns with a bathtub, sink or toilet. It is believed this creates the potential for loss with cancer, a stroke, a major accident, bankruptcy or even death a possibility.  It’s vital the bed is moved so that it is not aligned with the bathroom door or bath fixtures.

How to avoid:
Move your bed if it is aligned with the bathtub, sink or toilet. A shoji, a Japanese room divider, works if the size of your room prevents the bed from being moved.

These are just a few of the feng shui mistakes out there.
This article has a few more issues you should consider
.


Feng Shui: Year of the Monkey

In 2016, the Year of the Monkey holds some big changes and wonderful opportunities. Women will really enjoy the Monkey year!

Like all years, though, it also has its challenges. But if you’re prepared and put your remedies and enhancements in place, you’ll do just fine. If you really make an effort, this could be the year you take big steps. That’s because women have some terrific energy that can help them set a plan in place that could pay off for years!

Security and Safety First.

This year it’s more important than ever to stay on the side of caution — and in every respect — and for everyone in your family. Make sure you are thorough with contracts, read the fine print, check your credit card statements for fraudulent charges and do background checks on questionable people (single girls are you listening?). Don’t take a smooth talker at his word or job promises without getting it in writing.

Make sure to check locks, invest in a burglar alarm and don’t go out alone at night. Make sure your family is safe, too. Make the kids wear their bike helmets, buckle up in the car, and be extra cautious about the oldest son. Risky sports and rough sports can bring injuries.

Watch your words — especially on the job.

The 3-star in the northwest sector (bosses) and the 2-star in the center sector and the 7-star in the career sector all create a nasty triangle of bitter talk. Avoid gossip at all costs — both personally and at work, but especially at work. You will get caught up in a “triangulation” of gossip at work and it will cost you even if you don’t instigate it.

Jobs can also be lost because of the 7-star and work relationships can be harmed by “cutting” words. Hold your tongue this year and count to ten. As a rule, it will be better to listen than speak…but that’s good advice anytime, isn’t it? But, it’s especially true this year. Keep your ear to the ground this year in case there are layoffs. Have your resume up to date just in case. Be careful about injuries on the job, especially if your travel for work.

If your bedroom or front door is in the north, make sure you wear plenty of blue and black clothes and have blue and black colors in your bedroom. You may want to invest in something like the evil eye amulet to help keep you from harm at work or from injury.

Health can be a challenge.

The 2-star flies to the center sector, the sector of the spine. But most of the problems the 2-star causes are mild and annoying versus serious. Make sure you take care when lifting anything or you could aggravate an old back injury — or have a new one. It won’t be bad, but it will take you out of commission for a while. Keep healthy lush plants in the center sector of the house or living room and add metal objects here such as a six rod wind chime, wu luo and Happy Buddha to protect your health and wealth.

It’s also a year for challenges across the board for health because of the 5-Yellow in the northeast sector. This is the sector of the hands and the mind. Take care when working with your hands or doing anything like roller skating — many wrists are broken trying to break a fall.

It’s critical that you watch ailments this year if your bedroom or front door is in the northeast corner of the house.

Please heed this warning: have all symptoms checked out immediately if your front door or bedroom is located here. You should be especially cautious if this is your bedroom. If you can move out of this room, it would be wise.

You can help alleviate the influence of the 5-Yellow, which is known for tumors, cancer, broken bones, major financial problems and severe accident, if you have a 5-Element Pagoda and metal objects here. Having a pendulum clock or a ceiling fan constantly turning is wise. If this is your front door, add lush healthy plants to protect your health.

Make sure you keep those annual appointments with the dentist and doctor.

Don’t put off any health symptoms that concern you because these could mushroom into a bigger problem. This is true for the whole family and for rabbits, in particular. Boars and Rabbit zodiac signs should be cautious about injuries by metal (i.e., car, sharp objects, etc.) and they should carry amulets to protect them.

Areas for Growth

There is good business potential in the southwest corner of relationships and women. You can get ahead in the year by thinking strategically in business by partnering with women or joining up with your significant other or spouse. Women host the 8-Wealth star to help them get make strong job gains and this bodes especially well for women entrepreneurs.

The word to focus on for gaining income and financial opportunities? Partnership. Make sure you activate both the southwest sector of women and the southeast wealth sector with a dragon tortoise or fish to activate the water (read: wealth) energy.

We also have good potential this year to get ahead by rubbing elbows with influential friends.

The good fortune star is in the south, the sector of networking and socializing. You could find that it’s a good idea to attend networking events, go to socialising activities after work or fostering relationships with influential friends and asking for favours. Ask those movers and shakers you know for advice and they may just mentor you or take you under their wing.

Trying to get pregnant?

This is the year the pregnancy star is in the east sector so you have some cosmic help there — especially if you’d like a boy. Spend lots of time here and add fresh flowers to boost your chances of becoming pregnant.

Wealth potential from investments, working on your portfolio.

Despite what the stock market has done, it will pay to invest some time and energy in your assets such as retirement and stock accounts. This year the White 1-star of income means that there’s an opportunity to grow wealth assets.  If you haven’t started an investment account this is the year to do it. Adding a water fountain or dragon tortoise in the southeast sector where the income star has flown to will help you get a leg up on those investment accounts this year.

Love gets a boost in 2016.

The love star has moved to the west and that means the west corner of your house holds the greatest potential for love energy. Make sure you boost this area with crystals. It’s also the area associated with education, so having a globe located here will help you with exams, writing and moving ahead in education. This bodes well for children. Have them study in this part of the house or living room.

Like many year recently, water is a missing element. Stress (particularly verbal stress) can run high this year. Health might be strained. That’s why a vacation to the beach or lake is your best bet for relaxation. Water will soothe angry words and frayed nerves. Be sure to wear blue, carry a blue purse (for money energy), and try to take time by water either with swimming, listening to a waterfall, or just staring at the ocean.

Below is the annual afflictions and energies chart to help you track where all the energies are for the year.

About Kathryn Weber, the author of this column.

Kathryn has more than 20 years of feng shui study, practice and professional consultation experience. Her witty, no-nonsense style appeals to audiences, making her a popular speaker and radio show guest. She is often called on by media to explain feng shui in down-to-earth terms, and has been featured in Seventeen, First for Women, Faces, Conceive, Martial Arts Professional, and Natural Health magazines, and on websites around the world. She is a certified master practitioner, having studied with feng shui master Lillian Too in Kuala Lumpur, and has also attended the prestigious International Feng Shui Convention in Singapore where she has met and studied under some of the brightest stars in the world of feng shui. Kathryn practices classical Chinese feng shui and her clients include homeowners, high-powered executives, manufacturing firms, real estate companies, and business owners.

Source:
http://redlotusletter.com/about/


Fewer agents in Singapore

The number of licensed real estate agents in Singapore declined last year, likely as a direct result of the property slowdown in the city-state.

As of the start of 2016, the Council for Estate Agencies (CEA) has licensed 1,369 estate agents and registered 29,262 salespersons.

It said that a total of 104 estate agents and 3,573 salespersons left the industry during 2015.

In the past year, there were 1,299 new salespersons who joined the industry, down from the 3,006 new salespersons in 2014.

Commenting on the overall decrease in the number of registered salespersons, Heng Whoo Kiat, Director, Policy and Licensing, CEA, said: “This could be a reflection of the property market sentiments.”

He added that salespersons are also probably mindful of the cost of being in the industry. Under CEA’s regulatory framework, salespersons are obliged to commit time and resources to meet the continuing professional development requirements for annual renewal of their registration.

New entrants to the industry, they have to complete a course and pass a qualification examination.

The Council for Estate Agencies (CEA) is a statutory board established in 2010 in Singapore under the Estate Agents Act to regulate and promote the development of a professional and trusted real estate agency industry. The key responsibilities of the CEA are to license estate agents and register salespersons, promote the integrity and competence of estate agents and salespersons, and equip consumers with the necessary knowledge to make informed decisions in property transactions.

www.cea.gov.sg


Fewer Malaysian buyers in SG

The proportion of foreign home buyers in Singapore fell slightly to 24.6 percent in Q4 2015, marking a fifth consecutive quarter of decline.

According to the
latest research from real estate firm Knight Frank
, Chinese home buyers made up 31.1 percent of total transactions contributed by foreigners, regaining its position as the top foreign home buyer of Singapore residential properties after two consecutive quarters of falling behind Malaysians. The latter accounted for approximately 23.5 percent of total transactions in Q4 2015. Indonesian buyers were a distant third, forming 7.6 percent of total foreign transactions.

The motivations behind this trend are largely unchanged for the last three months in 2015; the slowdown in the Chinese economy, as well as uncertainty in Malaysia’s political scene and the Ringgit’s erratic movement have encouraged the respective groups of foreign home buyers to seek more stable investment havens like Singapore.

Singapore-wide private home prices (including Executive Condominiums) fell by 0.5 percent q-o-q in Q4 2015, marking the ninth consecutive quarter of decline.

Overall rents slipped 1.3 percent q-o-q. Total transaction volume for the fourth quarter declined by 23.1 percent q-o-q, with new sale volume recording a significant quarterly drop of 33.5 percent q-o-q. Chinese nationals regained its position as the top foreign homebuyer of Singapore properties.

Private Residential Sector

Overall transaction volumes increased on a whole-year basis, propped up by transactions in the Outside Central Region (OCR). The last quarter of 2015 saw total transaction volumes of 3,199 units (new sales, subsales and resales), representing a 23.1 percent q-o-q increase. On a whole-year basis, the total number of units transacted increased by 9.9 percent to 14,117 units. The positive performance in 2015 can be attributed to an increase in transactions in the OCR segment, particularly in the primary market.

Transaction volume of the mass-market OCR segment saw the largest q-o-q decline of 51.1 percent to 1,445 units. This was mainly led by a slowdown in new sale units, which fell by a notable 69.3 percent to 638 units. The two preceding quarters had seen greater transaction activity stemming from popular new project launches, such as High Park Residences, North Park Residences, and Botanique at Bartley.

On the other hand, the mid-tier Rest of Central Region (RCR) segment experienced 85.9 percent q-o-q growth to 1,366 transactions, of which 901 units were primary sales, reflecting a more than three-fold quarterly increase. This was attributed to well-received projects in the RCR, such as Principal Garden, The Poiz Residences and Thomson Impressions.

Prices for private homes continued to decline amid weak demand. According to the URA All Residential Property Price Index, private residential home prices (including EC) declined by 0.5 percent q-o-q or 3.7 percent y-o-y in Q4 2015. The OCR saw no change on a quarterly basis, while the Core Central Region (CCR) and RCR saw q-o-q declines of 0.3 percent0 and 0.4 percnt respectively. Notably, the 4.3 percent year-on-year (y-o-y) drop in RCR prices was most pronounced, followed by OCR at 3.7% percent and CCR at 2.5 percent.

In line with broad trends, prices of private landed properties also fell by a notable 1.8 percent q-o-q and 4.1 percent y-o-y. For the last quarter of 2015, the All Residential Property Rental Index fell by 1.3 percent q-o-q and 4.5 percent y-o-y.

Rents for private non-landed properties declined 1.1 percent q-o-q while that for private landed homes saw a more significant drop of 2.3 percent. However, on a y-o-y basis, the slide in private non-landed home rents was slightly higher at 4.6 percent than that for private landed home rents at 4.5 percent decline.

Outlook

Total new sales volume to ranged between 1,000 and 1,200 units in Q1 2016. With some highly-anticipated projects being lined up for launch, the first three months of 2016 were likely to see a higher number of newly-launched units. Nevertheless, in light of the prevailing economic uncertainties and recent hikes in the Singapore Interbank Offered Rate (SIBOR) pushing up mortgage costs, homebuyers are expected to remain highly cautious when making their purchase decisions.

As such, total developers’ sale volume for Q1 2016 is forecast to range between 1,000 and 1,200 units.

In view of the government’s recent reiteration that it is still “too early” to lift property market curbs and as economic growth patterns may turn south for Singapore, homebuyers’ sentiments are likely to remain largely muted.

As developers continue to price their developments realistically to drive sales and avoid hefty extension charges on unsold units, the downward trend in prices is expected to continue into Q1 2016.

In light of the notable q-o-q increases in unsold stock in Q4 2015 for RCR and OCR properties, annual price falls of 2.0 percent to 2.5 percent and 2.0 percent to 4.0 percent are expected in Q4 2016 respectively. In particular, the upcoming launches of two ECs in the first three months of 2016, Wandervale and Parc Life, are expected to further add to the competition for mass-market homebuyers.

With shrinking unsold inventory and a sizable pool of homebuyers scouring for value-buys in the high-end segment, annual price falls for luxury homes are likely to be more moderated, in the range of 1.5 percent to 2.0 percent in Q4 2016.

As at Q4 2015, the vacancy rate of private residential units was 8.1 percent, a slight increase from the 7.8 percent recorded in the previous quarter. Some 21,906 private residential units are expected to be completed in 2016, higher than the 18,634 units of new supply in 2015. The large upcoming supply is expected to put downward pressure on rents as landlords face more competition for a shrinking pool of tenants.

The continued tightening of foreign hiring and reductions in housing allowances are likely to lead to landlords moderating their asking rents in order to secure and retain tenants. As such, overall private home rents are expected to see an annual decline of between 4.0 percent and 6.0 percent in Q4 2016.


Filinvest Land nabs three honors at the Dot Property Philippines Awards 2022

Best Developer North Luzon

Best Developer Visayas

Best Developer Mindanao

The expertise and quality of Filinvest Land can be found across the country. It should come as no surprise that the talented homebuilder collected three honors at the Dot Property Philippines Awards 2022 with its work in North Luzon, Visayas and Mindanao recognized.

Filinvest Land was presented with the awards for Best Developer Visayas and Best Developer Mindanao once again in 2022. This was the second consecutive year the firm won both honors and is proof of its commitment in these regions.

Visayas and Mindanao are home to growing property markets and the work of Filinvest Land in each one is important in ensuring people here can enjoy the same high-quality residential experience found elsewhere in the Philippines.

“Wherever we are, we carryover the same principles of creating green and sustainable developments for our homeowners. In these areas, we are building on our previous successes. This is also our way of reaching out to our fellow Filipinos and helping them own their own homes as our ethos at Filinvest is building the Filipino dream,”
Tristaneil Las Marias, Senior Vice President at Filinvest Land Inc., told Dot Property Group last year
.

In addition to those two honors, Filinvest Land also won Best Developer North Luzon at the Dot Property Philippines Awards 2022 for the first time. Demand for housing products here has increased significantly in recent times and the homebuilder’s efforts here are allowing this to be met.

Strong demand for housing in the provinces outside of Metro Manila helped Filinvest Land reach residential revenue growth of nine percent during the early part of 2022. Meanwhile, sales to OFWs started to recover with the developer working closely with this market.

Read More:

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


The first transit-oriented development in Glenmarie takes shape

Mak Hon Weng, Chief Operating Officer of Sg. Besi Construction Sdn Bhd, speaks during the MoU ceremony for The Glenz

Glenmarie is one of Selangor’s most exciting areas and one that property investors will want to be familiar with. It is already a central business hub with more than 80 multinational corporations based here. And now Sg. Besi Construction Sdn Bhd is hoping to make it a true lifestyle destination with The Glenz, a complex hailed as the first transit-oriented development in Glenmarie.

The project is next to a Kerjaya LRT3 Station. The under construction line will help serve the Western Corridor of Klang Valley when it opens. The Glenz contains 262 suites, 168 offices, eight multi-storey shops, grocery store and The Kensington Business Hotel.

The exciting project is starting to take shape after developer Sg. Besi Construction Sdn Bhd signed a Memorandum of Understanding with several prospective tenants and business owners for its food and beverage zone, corporate offices, pre-school and supermarket. Hailed as an integrated lifestyle project, The Glenz promises the public the utmost convenience with everything at their fingertips.

“The Glenz is an exciting business address strategically located and intelligently built with ample parking bays. It is an integrated development that offers a conducive and convenient place for work and leisure pursuits besides being an excellent investment opportunity,” Mak Hon Weng, Chief Operating Officer of Sg. Besi Construction Sdn Bhd, explained during a press conference.

He added, “The Glenz is expected to add value creation to Glenmarie with its well-planned low density profile. Being priced lower as compared with other transit-oriented developments with similar density, he says this is a golden opportunity not to be missed.”

The Glenz

During the MoU ceremony, upscale grocer Oliver Gourmet agreed to serve as the anchor tenant with Union Artisan Coffee; Fei Fan Hotpot; Ying Ker Luo Hakka Cuisine, Japanese dessert chain Fuwagori and Maruki Ramen Tokyo among the F&B options. The first WeGlam beauty hub in Malaysia is also set to open at The Glenz.

Meanwhile, several firms reserved office space including Jiangsu Suzhong Construction Group Co., Ltd, one of China’s largest private international contractors. Additionally, Vestland Group, Armani Group and KPR Group all booked en bloc floors.

The Glenz is a freehold development spread across 2.52 acres in Glenmarie that is situated close to a thriving education and medical hub. The developer noted this, along with the LRT connectivity, means the project will be one of the most in-demand addresses in the area.


Flight bookings pickup as borders reopen in Southeast Asia

Flight bookings to destinations across Southeast Asia are increasing with several countries having loosened restrictions on inbound arrivals. While numbers are still well below pre-pandemic levels, online travel company Skyscanner is seeing a noticeable jump in people making plans to head overseas.

According to the travel firm, flight bookings made by travelers based in Great Britain, the United States and Germany increased by 19 and 300 percent when comparing December 2021 and January 2022. That coincided with Thailand and the Philippines, among other countries, rolling out plans to welcome vaccinated visitors.

“From Skyscanner’s global footprint, we’ve seen that when restrictions do ease, travellers react and are willing adapt to new measures in order to be able to travel internationally again,”
Skyscanner Senior Regional Director Asia Pacific Paul Whiteway told Reuters
. “Over the coming weeks, we will see markets react to the news, airlines announcing new schedules and building capacity to allow the return of international travel at scale.”

Southeast Asia reopens for tourism

Both Thailand, the Philippines, Singapore and Indonesia have reopened to vaccinated travelers which has contributed to the increase in flight bookings.

Thailand resumed its Test & Go scheme on February 1. The program, which first ran between November and late December 2021, allows tourists to enter the Kingdom quarantine free assuming they follow certain guidelines.

Read More:

Test & Go returns as Thailand welcomes visitors once again

Over in the Philippines, arrivals are being welcomed back for the first time in nearly two years. Travelers are required to present a recent negative COVID-19 test along with proof of vaccination in order to be allowed entrance.

Keep reading:

Vaccinated tourists allowed to enter the Philippines starting Feb. 10

Elsewhere,
Singapore has established Vaccinated Travel Lanes with 21 countries that allow for quarantine-free visits
. Bali in Indonesia began welcoming tourists on February 4.


More flights heading to Phuket as tourism recovery picks up steam

The number of flights into Phuket international Airport is increasing

Thailand’s tourism recovery is still in its early days but there are some signs that things are heading in the right direction. Most notably in Phuket where the number of international flights continues to increase.

Earlier in November,
S7 restarted service from Russia to Phuket
, joining Aeroflot as Russian carriers resuming Thailand-bound routes. According to reports, nearly 140 visitors were onboard the first S7 flight which departed from Irkutsk.

Services between Phuket and Australia are set to resume in December
 with Thai Airways announcing a non-stop Sydney-Phuket route. Additionally, low-cost carrier Jetstar has said it plans to restart service between the two cities in January.

The decision was made after the Australian government reversed a ban on citizens leaving the country without permission. Restrictions on vaccinated non-citizens are expected to be eased before the end of the year.

Currently, Thai Airways operates service from London, Frankfurt, Munich, Paris, Copenhagen, Stockholm and Zurich to Phuket. Some of the routes are non-stop while others go through Bangkok.

According to the Phuket Tourism Council, there has also been a huge uptick in domestic tourism. There are now roughly 30 domestic flights arriving daily with these bringing an estimated 4,000 to 5,000 visitors to the island.

Related:

Don’t call it a comeback but signs of life return to a much-improved Phuket

Looking ahead, local officials are optimistic regarding the tourism recovery in Phuket, although they understand the situation can change at a moment’s notice.

“It’s too early to assess revenue and tourist numbers right now, but we think that next year, throughout the whole year, there will be 2.6-3 million tourists if there are no events that cause travel to deteriorate,” Khun Bhummikitti Raktaengam, President of the Phuket Tourist Association, told the Phuket News. “The projected volume is still less than 30 percent compared with before the outbreak, and is based on the current situation. If things change, there could be more [visitors], or there could be less, we don’t know. Or if the rules change, we’ll have to look again.”


Football & Property: Why Manchester is the city that keeps winning

Manchester City once again won the Premier League for a second year in a row and has a chance to add the Champions League trophy to cap its impressive season. Regardless of if you love or loathe the Citizens, it’s impossible to deny the success they’ve had. At this point, you’re probably wondering what exactly this has to do with real estate.

Well, much like how Manchester City climbed to the top of the Premier League, the Manchester property market is arguably the best performing one in the UK. Thanks to fast rising property prices, a bullish rental market and strong peripherals, the city has become a bona fide hotspot among real estate investors.

Why Manchester property investment?

Manchester is delivering property investors the highest levels of price growth in the UK and it looks set to carry on into the future. Research from Cushman & Wakefield found that housing prices could rise by as much as 57 percent between 2018 and 2028 placing the city at the top of the UK residential price growth table.

But that is only half of the story. Rental yields in Manchester are among the highest in the UK. As of November 2018, average yields in Manchester were 69 percent higher than those in London. Looking long-term, Manchester property investors will continue to achieve a continual growth in their annual rental returns as the city’s rising population puts further pressure on the rental sector.

Annual Rental Growth in Manchester

2019

3%

2020

3%

2021

3%

2022

3.5%

2023

3%

Total cumulative growth 2019-23

16.5%

*Research from JLL

What’s driving the Manchester Property Market?

Perhaps the most exciting aspect of Manchester real estate investment is the what’s driving the market. To start with, Manchester is officially one of Europe’s fastest growing cities. The Manchester City Council is supporting an ambitious plan to create a world-class city by 2025 and is focusing on everything from education to infrastructure in order to accomplish its goal.

The business community has already taken note of this push and several multinational corporations, including Amazon and Hewlett Packard, relocated or opened satellite operations in Manchester. The local government estimates that 16,300 new jobs will be created in the city centre by 2021, the highest total in the UK.

Where there are jobs, people will follow and this has been the case in Manchester. The city has become especially attractive for Londoners looking to escape the capital’s soaring property prices and lack of employment opportunities. The Guardian reported that nearly 300,000 people are moving out of London each year with Manchester among this group’s most popular destinations.

What’s more, Manchester has a 69 percent graduate retention rate of its university students, meaning over 68,000 new graduate workers are added to the city’s economy each year. With graduates staying put, Manchester has built one of the biggest ‘Generation Y’ populations in the country. This group, aged 18-34, is a key demographic for Manchester’s rental market.

Where are the Manchester real estate opportunities?

Between 2018 and 2022, 11,000 new jobs in the Manchester city centre are forecast to be created, but only 4,000 new purpose-built rental homes are set for delivery during this time, according to Colliers International.

At the moment, 70,000 people now live in the Manchester city centre with the majority renting an apartment. Looking ahead, the Manchester City Council reported that most population growth is going to be concentrated in city centre and surrounding wards during the next six years creating a huge opportunity for property investors in this area.

At the moment, Manchester city centre apartments are getting up to 10 enquiries per property with The Manchester Evening news finding that some apartments tenanted within one hour. For real estate investors, finding new build developments in the city centre is key if they want to take advantage of the rental market.

Elizabeth Tower at Crown Street

Elizabeth Tower at Crown
Street
 is currently one of the fastest selling projects in Manchester. Located at the gateway of the city, this iconic 52-storey tower will be one of the highest residential buildings in the UK once completed. The development features breathtaking facilities that will ensure it becomes one of the most in-demand residential addresses in Manchester.

The 52-storey tower is situated within walking distance of Manchester’s key economic hubs and vibrant leisure attractions with Deansgate, Manchester’s main high street, and Spinningfields, the city’s main financial district, both minutes away.

Select Property Group, the UK’s leading property investment specialists, is representing Elizabeth Tower at Crown Street. The firm offers an end-to-end approach to UK property investment that is unrivalled in the marketplace. With offices in Europe, the Middle East, Southeast Asia and China, the company’s talented worldwide investment teams offer a truly bespoke service, no matter where clients are.

Anyone who registers for more information regarding Elizabeth Tower at Crown Street today will be eligible to receive an exclusive GBP3000 discount. However, due to the strong Manchester property market and high interest in the development, units will only be available for a limited time. Select Property Group recommends interested investors to act quickly in order to secure a unit.

Click here for more information


Foreign investors and local markets

Foreign investors are often blamed for rising property prices but are they really to blame?

Malaysia has welcomed foreign investment with the scheme
Malaysia My Second Home.
 It has generated significant revenue stream for the country. Buying property overseas is not a new concept. Many do so for a variety of reasons but for some countries foreign investors are not welcome. This is exactly why JLL have looked further into the issue with their recent research report, ‘Assessing the impact of foreign ownership on residential markets’.

The real estate firm argues that since the 2008 global financial crisis some property markets in global cities have taken an upbeat turn. Low interest rates, high liquidity and more overseas investors have been cited as reasons for this. Even more recently in the UK, the devaluing of the sterling has resulted in many Asian investors purchasing property here due to favourable exchange rates.

But how many foreigners are there?

Sydney:
 foreigners are only permitted to purchase new projects and are estimated to make up to 15 to 25 percent of purchases in 2016.

London:
 different studies reveal varying figures. One suggests less than 20 percent, the other 13 percent.

Singapore:
 foreigners consist of between six and seven percent of sales volume in the private residential market, which makes up 25 percent of total residential stock and 30 of yearly residential transactions in Singapore.

Hong Kong:
 foreign buyers make up four to five percent of total residential transactions.

In JLL’s study they revealed why people are interested in investing in property overseas.

1. For offspring’s overseas education.

In Singapore at the National University Singapore and Nanvang Technological Technology international students make up 30 percent of attendees. Plus international students in the UK make up to 20 percent of the student population.

1. Owner occupiers.

The United Nation’s Migration Report 2015 revealed that 3.3 percent of the world’s population live in a foreign country. A figure that continues to rise due to lowering costs for air travel and technological advances.

3. Generate a rental yield.

Buy-to-let investments are popular as they
generate a healthy rental yield.
 However this may a less likely investment asset as some global cities such as London no longer enjoy a sizable rental yield due to high property prices. Therefore this may become less of a reason for overseas investors in the future.

4. Wealth diversification and preservation.

Cities such as Singapore, London and Hong Kong are considered safe havens. A good place to park your money. They are politically sound that ensue investor confidence. Traditionally they also receive significant capital appreciation, e.g. before the market softened in Singapore, prices increased by as much as 70 percent.

Report findings

JLL were able to draw on a number of themes throughout the study as follows:

1. High vacancy rate are not a result of foreign investors.

85 percent of Asian owners in London plan to let their property out. Many want to generate an additional income from their property so the vacancy rate is down to supply and demand rather than the number of foreign investors. So contrary to popular belief many foreign investors do not leave property empty.

2. Overseas investors do not increase rents.

In Hong Kong rents make up 43 percent of household incomes. But the number of foreign purchasers here is not that high. JLL believe that rent affordability is due to a lack of affordable housing and wealth distribution management.

3. Foreign purchasers do erode price affordability.

What foreign investors do is push up prices. This can be seen in London, Hong Kong, Sydney and Melbourne, where there the supply and demand mechanism is not balanced and is pushed even more out of kilter by foreigners placing even more demand on the market.

Final conclusion

So can we blame foreign investors for contributing rising property prices? JLL blame a lack of supply rather than foreigners for this. They use London and Hong Kong as good examples as both markets face of shortage where one house is built for 5.4 and 4.5 additional persons exacerbating the situation.

Interestingly foreign investors are needed. Not only do they increase the supply to rental markets but they help fund projects through pre-sales. Essential according to developers in reducing their risk.

However JLL do state that many cooling measures such as higher taxes enforced on foreign investors are inefficient. Rather they believe an empty property tax should be levied instead to help alleviate vacancy rates. Plus governments should allow owners to use platforms such as
Airbnb
 will help keep occupancy rates high.


Foreign investors still keen on Malaysia despite government comments

Property in Johor Bahru has been targeted primarily by Chinese buyers, a trend not lost on the government

When Malaysian Prime Minister Mahathir Mohamad spoke out against foreign real estate ownership, there was some concern it could impact the country’s property market. In particular, comments about how property assets held by foreigners does not guarantee them automatic residency caused some concern.

In the Prime Minister’s crosshairs was the Forest City project in
Johor Bahru
, a development that has been marketed extensively to China. According to a report from Reuters, roughly 70 percent of units in the development were sold to Chinese buyers with the government concerned those taking up units were using them as a foothold to live in Malaysia.

See more:

Will the Malaysian election hurt overseas property investment?

The government has since clarified Mahathir’s comments with a statement from the Prime Minister’s Office reading, “On property purchases by foreigners, irrespective of nationality, Malaysia imposes certain conditions, and information on these conditions are publicly available. Purchase of properties, however, does not guarantee automatic residency in the country.”

However, it appears as if these comments have done little to shake the confidence of foreign real estate investors. In fact, data from leading Chinese international real estate website Juwai.com shows more mainland buyers are jumping back into the market.

“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.

She continued, “Our data shows Chinese buyers made 10-times more inquiries on Malaysian property in September than in the same month last year. That is the largest growth rate we have seen yet this year.”

One reason for the positivity is the fact that nothing new is being said about foreign property ownership in Malaysia. Instead, the government is highlighting existing policies that have been in place for a long time. For Chinese investors, there are several other reasons why the country is a top pick for property.

See more:

Chinese real estate investors target Malaysia for value

“During the last 90 days, there has been less than 0.5 percent currency volatility between the Yuan and the ringgit. That indicates a stable currency relationship between the two countries. And because of price declines, this makes Malaysia a serious choice for Chinese buyers,” Law stated. “Cultural reasons also favour Malaysia over competing markets, like Thailand, for example.”


The Forestias named Thailand People’s Choice Award for Project of the Year 2021

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

As one of the few honors to be voted on by the public, the Thailand People’s Choice Award for Project of the Year 2021 is truly unique. This year saw 11 of the country’s best and brightest real estate projects secure a spot as finalists.

Online voting took place in November with the votes tallied shortly before the Dot Property Thailand Awards 2021 Presentation Day in Bangkok with the winner being revealed during the festivities.

Thailand People’s Choice Award for Project of the Year 2021 was won by The Forestias from developer MQDC. The impressive mixed-used development also took home three other honors during the Dot Property Thailand Awards 2021, securing its spot as the top project in the Kingdom this year.

Thailand People’s Choice Award for Project of the Year 2021 Finalists

Anchan Hills

The Forestias

Santi Pura Villas

The Plantation Estates

Grand Bangkok Boulevard East Rama 9

Bangkok Boulevard Donmueang – Chaengwatthana

Arom Wongamat

The Residence

The Victory Tait 12

Noble Form Thonglor

Life Sierra Sathorn

The Forestias joins The Estelle Phrom Phong from Raimon Land (2020) and BEATNIQ from SC Asset (2019) as previous winners of Thailand People’s Choice Award for Project of the Year.

Related:

This project is building a forest in Bangkok


Forget about fintech, proptech is about to take-off in Southeast Asia

Sansiri and its San:Dee robot show how Southeast Asia-based developers are getting involved in proptech

Southeast Asia is not a backwater when it comes to proptech startups, but the sector has failed to take off in the same manner as fintech. However, this could soon be changing. Challenges and competition throughout the Southeast Asia real estate sector means proptech is needed now more than ever before.

“Proptech, to be placed in context, has lags behind the fintech revolution by almost a decade in Southeast Asia. One of the contributing reasons is that the real estate sector across Southeast Asia has enjoyed strong organic growth and the traditional way of doing things yielded good profits,” Pauline Chong, Principal at Cento Ventures, states. “This is quickly changing with rising financing costs and a cooling economic climate. There is now a strong incentive for real estate corporates and governments to invest in an improved way of delivering a better customer experience and improved productivity across the sector.”

According to Cento Ventures, a Singapore-based venture capital firm, there was USD14 billion invested in global proptech last year, but only USD380 million was committed to Southeast Asia. This means there are opportunities, especially for local startups, to succeed in the proptech space if they can tap into what the local markets need.

“Proptech is relatively underinvested into compared with other VC investment themes such as fintech, gaming and consumer tech. Cento Ventures’ near decade of tech investing in this region tells us that Asia-based startups remain highly relevant as their business models are calibrated for our region,” Chong says. “Hence, to achieve the right proptech solutions our region requires us to invest back into our region to build regional winners.”

Before looking too far ahead, it’s necessary to look back and ask: why did fintech take off in Southeast Asia while proptech took a back seat? A lot of it was due to circumstance.

“In countries such as the Philippines and Indonesia, fintech initiatives have taken off largely around providing financial services to the unbanked. Micro lending, P2P lending have all gained traction as traditional banking systems have been unable to cost effectively reach this group of consumers,” Chong explains. “In more financially developed markets in Southeast Asia, such as Singapore, Malaysia and Thailand, fintech received a strong boost from governments and banks to move towards digital transactions and cashless societies.”

Proptech moves forward in Southeast Asia

Chong notes that there are a dozen real estate corporates in the region already trialing new innovation products to better business operations, from construction tech to sales management tools. This can be seen as an indicator that Southeast Asia is ready to embrace proptech going forward.

Property developers in Southeast Asia are getting in on the act as well. One of Thailand’s largest developers, Sansiri, announced that it would invest USD47.3 million in proptech between 2018 through 2020 via its Siri Ventures arm. Also in Thailand, Ananda Development created its own venture capital firm, Ananda Urban Tech, to expand its reach into the proptech sector.

“It is helpful to have forward thinking real estate developers invest in and sponsor proptech. In our experience, a fruitful outcome is when both strategic investor and VC come together to help build an ecosystem. In this way, strategic investors get access to useful technology advancements while VCs help startups to grow and capital plan their business trajectory,” Chong notes. “The more engagement we have from real estate corporates, the better inputs there are to technologists to build better solutions.”

That being said, developers and large real estate corporates need to be smart about investing in proptech. Massive blanket investments with no clear aims can end up causing more harm than good.

Pauline Chong, Principal at Cento Ventures

“At the end of the day, it is a question of shareholder value creation for real estate corporates if investing directly into a startup. Is this the best use of corporate resources and management time? Warehousing young startups is challenging as they require a broad array of assistance from product solutioning, business development, valuation assessment to structuring their board and considering financing options,” Chong reports.

She continues, “Not all these needs can be satisfied through a strategic investor that has a large existing business to operate. Therefore, we recommend that real estate developers define clearly a stage of proptech investment at which they are ready to engage and resource accordingly for it. They should continue to work with VCs on their proptech investments and portfolios as VCs bring their own set of skills to the table.”

Invest in proptech or property

For investors, they need to ask themselves if they would rather be investing in Southeast Asian property or Southeast Asian proptech.

“The answer to this is particular to the risk and return expectations of the investor. Proptech venture capital investments can be highly lucrative and we see an influx of larger, late stage private equity investors entering the market now,” Chong says. “Proptech unicorns such as Lianjia in China and Prop Tiger in India are good examples in terms of the value created in these companies. Airbnb is now valued at USD35-40 billion and potentially headed for an IPO next year.”

Returns for proptech investors, especially early ones, are staggering. However, the opportunities in traditional Southeast Asia property investments are still worth considering although they may not be as lucrative as proptech investment.

“Property as an asset class has its attractions as well. Its brick and mortar nature and financing leverage can help juice up returns, but tends to perform high single-digits on a total returns basis. The financial risk is less, but the return profile adequately reflects that,” Chong states.

She adds that if an investor is sufficiently capitalised, they can consider spreading out their investments to get a broad portfolio comprising of real assets and private equity/venture capital. It’s the proverbial best of both worlds.

A unique approach to proptech investing in Southeast Asia

Cento Ventures’ proptech fund focuses on the Asia Pacific region. The firm looks at startups that deliver a product or service that either enables or disintermediates the real estate sector. These can include directly adjacent businesses that address logistics as well as environmental and sustainability solutions since they can impact value creation within the real estate sector.

“Based on our past investment experience, we know the key to unlocking value lies in the in-country or regional know-how to create successful businesses that are well suited to the market needs,” Chong points out.

Additionally, the VC firm has plans for a further regional Southeast Asia early stage fund and in addition to the proptech fund. Centro Ventures also has fintech- and fashion tech-focused funds.

“We have almost a decade of investing into early stage startups in Southeast Asia and neighbouring growth markets. Our investment strategy involves looking at digitising sectors and investing early, with a goal of building regional winners,” Chong explains. “We take a data-driven approach to assessing investment opportunities and allocate resources to supporting our portfolio companies extensively. We are pro-founder and have a diversity of skill sets and experiences across the firm ranging from VC, tech to private equity, entrepreneurship, banking and management consulting.”

For more information on Cento Ventures, please visit: www.cento.vc


Forget work from home, it’s time you work from paradise

Anchan Hills in Phuket is perfect for those wanting to  work from paradise

Work from home is clearly not going anywhere. Even when the situation returns to normal, a lot of employees won’t be going back to the office. Having come to this realization, you’re starting to see people scooping up properties in Thailand’s resort areas. After all, why work from home when you can work from paradise?

Phuket
 and Samui remain ideal destinations if you’re looking to leave the city life behind. They have beautiful beaches and modern conveniences as well as a lot of great residences to choose from. Additionally, a special tourist visa scheme means it is still possible to travel to the Kingdom. Upgrade your office and work from paradise.

Work from paradise at these amazing Thailand projects

Anchan Hills

Location:
 Phuket

Price:
 THB16.9 million

A look inside Anchan Hills

Anchan Hills is one of Phuket’s most prestigious residential estates and it is perfect for those wanting to work from paradise. No expense has been spared to create a luxurious living experience with each villa featuring high-end components. Every last detail has been cared for in order to create a truly unique residence.

Just imagine opening your laptop as a refreshing breeze comes into your living room. Each villa has airy, connected spaces in addition to European-style kitchen, built-in wardrobes and a number of other spectacular amenities. Simply put, living at Anchan Hills is a dream come true.

Click here for more information

Chariya Residence

Location:
 Koh Samui

Price:
 THB5.9 million

Chariya Residence offers luxury living at an affordable price

There is nothing better than a luxury condominium at a competitive price point that has amazing views of the ocean.
Each apartment at Chariya Residence has been designed to maximize light, space and practicality while providing sea vistas
. What’s more, they come fully fitted and beautifully furnished meaning you can move in today if you’d like.

Chariya Residence also boasts a large, infinity-edge swimming pool and expansive poolside terrace that has its own restaurant. This project is well suited to anyone seeking the Samui lifestyle.

Click here for more information

Serene Condominium

Location:
 Phuket

Price:
 THB2.7 million

Serene Condominium has a number of work from home features

Want to live in a lush, tropical retreat?
Look no further than Serene Condominium, a gamechanging development in Phuket
. Buildings are covered with leafy plants and trees in order to cool down the area and reduce its carbon footprint. Additionally, solar panels were installed on the rooftop which provide clean, renewable energy. These are just a couple of the eco-friendly innovations found throughout the developments.

Serene Condominium is also designed with work from home in mind. There is an outstanding, modular design that takes full advantage of the space. Meanwhile, cutting-edge features, such as wireless charging and USB plugs, come standard in addition to a furniture package which is included in the sales price.

Click here for more information


France: Where and what to buy

Property buyers and investors are finally returning to France’s real estate market after three years of dismal performance.

Property prices are now becoming a source of hope after a sudden increase in the volume of transactions towards the end of last year. During November 2015, 792,000 transactions were recorded, a 12.5 percent increase on the same month last year. The surge of interest can be attributed to a few factors, including the large supply of listed residential property, motivated sellers and economic risk, which has investors choosing tangible assets like real estate over volatile stocks and bonds.

Lack of new builds pushes existing home sales

Industry experts are not convinced that the French property market is quite recovered yet, especially since quarterly house prices in Metropolitan France have been showing year-on-year declines since 2012, according to the National Institute for Statistical and Economic Studies (INSEE).

In fact, Martin Janiko of economy.com reported that prices will no doubt continue to fall until the end of 2016 in light of the poor GDP performance and lack of wage growth. Nevertheless, while the reasons behind the stark increase in November transactions are not yet clear, existing property has somewhat benefited from it.

The number of transactions for existing property rose sharply during 2015 after lower government approvals on new projects caused a 4.1 percent decline in residential construction. In turn, existing property prices gained slightly (0.3 percent) in the third quarter of 2015 compared with the previous quarter. According to a CGDD ECLN survey in November 2015, 22,600 new homes were reserved between July and September, marking a 16 percent increase on reservations during the same period in 2014.

Republic in price purgatory

Admittedly, last year wasn’t a fantastic year for French property despite November’s brief upturn. In fact, the only region demonstrating decent price growth is the island of Corsica, which is also a popular tourist destination for French holidaymakers.

In Greater Paris overall prices picked up in the third quarter but decreased by 1.3 percent on the previous year. Prices are not expected to change much in the coming months. Furthermore there is a shortage of studio and one-room apartments which leaves buyers without any bargaining power. The median price per sqm in Paris is €8,020.

In the French provinces, flat prices (–2.3 percent) suffered more than houses (–1.7 percent) from the decline according to figures from Notaires de France. Cities with positive price growth are relatively provincial in terms of distance from the capital, but have excellent access by road, rail and even internal flight connections.

Prices in Tours, Limoges, Lyon and Strasbourg are all growing. Tours is a historical town and gateway to the famous Loire Valley Chateaux within 2 hours of Paris. Lyon, close to the Swiss border is a beautiful city with strong chemical and pharmaceutical industries.

Strasbourg, home to many famous EU institutions, is located on the border with Germany. Limoges, the least well known city of the group, is a recognised “green capital” with relatively low livings costs, surrounded by rolling hills and quaint villages.

Foreign buyer popularity declines

The proportion of transactions to non-residents has been declining since the ’08 crisis, making up just 1 percent of all sales in 2015 compared with 2.8 percent during the 2006–07 peak. According to research by BNP Paribas, British are by far the biggest foreign buyers in France, accounting for almost one-third (32.6 percent) of all sales to non-residents, followed by Italians (15.3 percent) and Belgians (11.1 percent).

Despite a fall in British activity in France, they still greatly outnumber other nationalities especially in the centre and the West. The most popular parts for U.K. buyers remain old favourites like Normandy, Brittany, the Dordogne and the Loire.

Regions that are further east and/or south tend to have a different buyer hierarchy. For example, Italians are the main buyers (28 percent) in PACA while Belgians are a lot more active in the North East (28 percent) and only 7 percent of foreign buyers in Paris are British.

Risks and revenue 2016

French property is going to bounce back, however it is now a question of time and economic performance. There is no doubt that 2015 was a difficult year for the Republic, during which it was hit by devastating terror attacks as its economy struggled to pull GDP growth out of the mud. It achieved just 1.1 percent year-on-year GDP growth in Q2 2015 according to Eurostat.

The main factors determining foreign activity over the coming year in France will be the economic performance of buyers’ home countries, low interest rates and of course, whether the U.K. is to stay or leave the European Union. The financial toll of this possible decision has already weakened the pound against the Euro.

For owners eyeing long-term revenue they can achieved it in two ways: holiday homes (that are not rented out) will gain in value over 10–15 years (once the initial buying expenses are recouped), making it worthwhile to resist panic and hold out the next few years in relative serenity.

Alternatively, they can put it on the rental market and find long-term tenants that will provide steady income as France’s most popular cities already have a surplus of short-term holiday property to let.

Main image: Many foreign buyers dream of renovating one of France’s many historic houses. By martinm303 / Depositphotos

This column was written by Bashitha Kariyawasam of property portal
Tranio.com


Frasers Property post strong results in Thailand led by residential sales

Frasers Property Thailand has seen strong take-up at its Samyan Mitrtown commercial project

The ongoing COVID-19 pandemic had a minimal impact of Frasers Property Thailand as the fully-integrated real estate platform announced strong results for the third quarter of the current fiscal year. The performance was led by the firm’s residential property business.

Golden Land, the residential arm of Frasers Property Thailand, saw a 12.8 percent year-on-year revenue increase thanks in large part to significant demand for townhomes and townhouses. The developer specializes in detached housing projects located in Bangkok and upcountry. Pre-sales at Golden Land’s 58 active projects totaled THB8.8 billion during the third quarter of the 2020 fiscal year.

Frasers Property Thailand did see a decline when it came to its commercial property portfolio, but that was expected. The firm granted rental relief granted to tenants during the COVID-19 outbreak while its hospitality business has taken a significant hit due to the travel restrictions that remain in place. However, there were several bright spots as well.

The developer’s office AUM occupancy is 94 percent while new tenants continue to move into its Samyan Mitrtown and The Parq retail spaces. The former has now reached 91 percent occupancy. Retail traffic has started to recover with Frasers Property Thailand having conducted several marketing events to bring in shoppers.

In July, the company’s Board of Directors approved a THB6 million divestment of industrial assets to the Frasers Property Thailand Industrial Freehold & Leasehold REIT in order. This will provide liquidity for future business ventures.

“Frasers Property Thailand will continue to closely monitor the COVID-19 situation and ensure that operations are carried out in a safe, effective and responsive manner for the well-being for our customers and employees. Overall, Frasers Property Thailand maintained a cautious outlook in the near-term given ongoing uncertainties on macro factors, despite better-than-expected performance in selective real estate sub-sectors,”
the company announced in a press release
.


Fulcrum Ventures Asia Group makes its breakthrough as a housing developer in Bangkok

Best Breakthrough Housing Developer

Best Housing Development (New Launch) Bangkok – Panara Bangna-Suvarnabhumi

For Fulcrum Ventures Asia Group, the past 12 months have been a time of growth and success. The firm has built on its previous accomplishments to truly breakthrough as a housing developer in 2022. From the impressive launch of
Panara Bangna-Suvarnabhumi
 to its thoughtful home designs, Fulcrum Ventures Asia Group has really elevated its operations.

This hard work did not go unnoticed. The homebuilder was presented with Best Breakthrough Housing Developer at the Dot Property Thailand Awards 2022. It was a special moment for Fulcrum Ventures Asia Group, who have put in a lot of effort over a short amount of time.

“The entire team at Fulcrum Ventures Asia Group has worked hard. Although we are fairly new to this segment, we have been able to do pretty well. This is just the first of many awards we hope to win,” Khun Ravi Puri, Executive Director Fulcrum Ventures Asia Group, states.

The launch of Panara Bangna-Suvarnabhumi was a turning point for the developer in 2022. Its combination of green spaces and home automation is ideally crafted for the “New Normal” while the luxurious designs have also drawn praise. The project was named Best Housing Development (New Launch) Bangkok, an accomplishment Fulcrum Ventures Asia Group is delighted by.

“We are just thrilled right now. (Winning) is a sign of our success. We are doing a lot of good luxury villa projects in Bangkok now. And this work has really helped us breakthrough as a developer this year,” Khun Somsakd Sirkuruwan, CEO Fulcrum Ventures Asia Group, explains.

Ultimately, the Dot Property Thailand Awards 2022 marked the arrival of Fulcrum Ventures Asia Group as one of the Kingdom’s top developers. They are certainly a homebuilder to keep an eye on moving forward.


Businesses must understand how the office fits into a hybrid working landscape

There is no shortage of approaches when it comes to the future of the office. Airbnb is getting rid of it entirely while
Elon Musk is taking a much different path
. These are the extremes, however. CBRE Asia Pacific believes the office isn’t going away, but it’s role will change dramatically in the coming months and years.

The future of the office is dependent on employees. This means employers must be willing to utilize hybrid solutions while ensuring the workplace itself offers rich in-person experiences that remote working cannot provide.

“With the pandemic having led many companies to incorporate increased levels of remote working into their current preferred workplace models to create a hybrid working approach, occupiers must now enhance their workplaces to deliver the type of seamless and engaging experiences that remote working cannot,” the CBRE report noted. “CBRE believes the creation of places where people work must be founded on understanding the changing nature of work in a hybrid world, what motivates people to come together, and a deep understanding of how to create experiences that really matter.”

According to CBRE Asia Pacific, 58 percent of organizations are encouraging employees to come into the office while still allowing for remote working. This is a noticeable increase from 47 percent of firms that allowed it in July 2021 and 35 percent in October 2020.

This presents businesses with a challenge: What should the office look like since it now finds itself competing with the work-from-home experience. The key is balancing amenities people enjoy or otherwise don’t have access to elsewhere with a wealth of spaces that cater to everyone.

“While a common view in the media is collaborative space, great aesthetics and coffee, CBRE believes that at the heart of the office as an attractor should be places to hang out (could be doing exactly what you do at home, but do it amongst your work mates), work together and build relationships; with spaces catering to a full spectrum of group work to individual/quiet work; and relief from working from home,” the reported noted.

Keep Reading:

Asia-Pacific co-working provider The Great Room acquired by US-based firm


Gamuda Land sets sights on Vietnam

Gamuda Land wants to grow its success on home soil to Vietnam.

Malaysian developer Gamuda Land has announced its intentions to spread its wings even further into Vietnam. Part of Gamuda Berhad, one of the country’s leading property developers known for developing
townships
 communities that are built with sustainability in mind. Their aim is to create towns and subsequently communities for all ages of society.

Now the developer has increased its attention to the growing Asia Tiger of Vietnam. Having already made the country its first overseas venture ten years ago with Gamuda City. Built just outside the northern city of Hanoi the site spans 500 hectares. Consisting of residential and commercial space, Gamuda City, ‘Showcases the best of living, education, entertainment, medical, hospitality and business experiences, a place where your heart truly belongs’, according to the developer’s marketing collateral.

Now the company is continuing its focus on Hanoi but also Ho Chi Minh City. For the latter, they are looking at land in District 9, 12 and Gò Vấp District. A previous Gamuda Land scheme in the southern buzzing metropolis is Celadon City which is still under construction.

Gamuda Land plans to capitalise on Vietnam’s rapid change in particular its growing rate of urbanisation. Underpinned by the economy which is propelling forward at a rate of knots, the landscape of the country is changing too. It is estimated that only 20 percent of the population lived in an urban setting towards the end of the 1980s. However, now this figure has reached 34 percent. Subsequently the amount of urban pockets has increased too.

It is believed that 150,000 people move from rural areas to both Hanoi and Ho Chi Minh City annually. Seeking employment opportunities as technological advances have meant that many of the country’s industries are less labour intensive. For example, within agriculture and fishing. This puts a pressure on housing and Gamuda Land have eyed up this opportunity. Stating that the concept of a township was relatively unheard of when they first entered the country, today townships are springing up across the country to keep up with demand.


Gangnam neighbourhood hopping: go inside Seoul’s exclusive district

Anton Strogonoff/Flikr - Many Gangnam neighbourhood streets never sleep

When Gangnam helped propel Seoul to the top of the luxury home price growth chart on Knight Frank’s Prime Global Cities Index early last year, the district was thrust into the spotlight once more. In case you missed Gangnam’s first star turn, there is a song and video on YouTube that’s been watched like six billion times. That’s all we’ll say about that.

For those unfamiliar with Gangnam, it’s a pretty interesting collection of neighbourhoods. You’ll see K-Pop stars shopping at high-end boutiques in some places and in other parts you’ll find that some of most prominent global businesses have set up shop

The district is situated south of the Han River and is connected to central Seoul by the Hannam and Dongho Bridges. Gangnam itself was a fairly unremarkable place up until the 1970s. The opening of Coex Convention & Exhibition Center in 1979 was one of a number of efforts to bring life to Seoul’s southern districts.

The surge in Gangnam’s popularity mirrors that of K-Pop and Korean dramas over the past 30 years. The district is now seen as the place to be locally and is iconic internationally. So, what makes it so special? Let’s go Gangnam neighbourhood hopping and learn a little more about what the district has to offer.

Gangnam neighbourhood guide

Cheongdam-dong and Apgujeong

SellyourSeoul/Flikr -Apgujeong Rodeo Street

These two ritzy Gangnam neighbourhoods are known as the Beverly Hills of South Korea. Just about every luxury brand imaginable has at least one store here and these sit alongside designer boutiques. To further the comparison with Beverly Hills, there is an Apgujeong Rodeo Street in Apgujeong which is full of high-end stores just like its Southern California namesake.

Adding to the two neighbourhoods’ mystique is the fact that some of South Korea’s most famous actors, actresses and pop stars call Cheongdam-dong and Apgujeong home. It’s not unusual to see fans loitering outside restaurants and even some record company offices in these neighbourhoods in hopes of catching a glimpse of their idols.

Worth a visit:
Those looking for a place to take a break in Cheongdam-dong and Apgujeong, Our Bakery Café is the spot. The eatery bakes up treats all-day and even has a schedule posted so you can order whatever is freshest. Our Bakery Café also serves up a selection of drinks that range from standard choices to wild concoctions. Our Bakery Café is located near Dosan Park and is a five-minute walk from the Apgujeong Rodeo Street metro station.

Photo/Kim Dooho – A look down the main street in Yeoksam-dong

Yeoksam-dong

Yeoksam-dong is best known for being home to some of Seoul’s tallest buildings and biggest office blocks. Google Korea’s headquarters can be found here along with several other prominent businesses such as T’way Airlines. WeWork has also has a strong presence in Yeoksam-dong having leased space in two office buildings.

However, the neighbourhood is more than work. The impressive Choonghyun Church can be found here. With designs inspired by churches in Europe, Choonghyun Church sits in stark contrast to its surroundings. Yeoksam-dong is also home to Kukkiwon, the world taekwondo organisation.

A set meal at Baekeok Hanu

Worth a visit:
Baekeok Hanu looks like any other restaurant from the outside, but the traditional Korean BBQ served up on the inside is not to be missed. The luxury beef and luxury pork belly are amazing while the aged beef options will leave you wanting more. Meals are served with traditional Korean side-dishes as well as grilled kimchi. Baekeok Hanu is located on Teheran-ro 43-gil between the Seolleung and Yeoksam metro stations.

Sinsa-dong

Photo/Trippose – The ginko-tree lined streets of Garosu-gil

Sinsa-dong can be found in the northwest corner of Gangnam. This neighbourhood has a unique vibe that has made it popular with artists throughout the years. Here you will find Garosu-gil, a Gingko tree-lined street that is one of the most picturesque places in all of Seoul. The fall is a particularly nice time to visit as the foliage is vibrant yellow.

Of course, there is a lot more than trees in Sinsa-dong. The intimate Garosu-gil is dotted with cafes that are the ideal place to spend an afternoon sipping a coffee. A stroll along the street will uncover chic boutiques, vintage shops and a few artist studios in this corner of Gangnam. There are also a few museums in Sinsa-dong including one dedicated to handbags and another devoted entirely to cosmetics.

Worth a visit:
Much like Sinsa-dong itself, FIFTY FIFTY is an eclectic place that’s part art gallery and part toy store. You’ll find original works from local artists along with unique goods for sale. FIFTY FIFTY is one of those places you need to see for yourself to fully understand. It’s located just off Garosu-gil and is roughly a ten-minute walk from the Sinsa metro station.


Garden Atlas Development makes a name for itself through amazing design

Best Breakthrough Developer Phuket

Best Luxury Villa Architectural Design Phuket – Garden Atlas

There is no doubt that 2022 will forever be remembered as a big year for Garden Atlas Development. The Phuket-based homebuilder earned much deserved recognition at the Dot Property Thailand Awards, taking home the honors for Best Breakthrough Developer Phuket and Best Luxury Villa Architectural Design Phuket.

The accolades mean a great deal for the firm who have dedicated their time and energy to craft a one-of-a-kind villa development in Phuket that provides exclusivity and comfort in style. It took a lot of hard work to reach this moment but it has paid off in the end. Ultimately, success at the Dot Property Thailand Awards 2022 will inspire the Garden Atlas team to reach even greater heights in the years to come.

“This year, we are very proud to win two awards. This is a big step for us. We will use these awards as motivation to continue our work and develop projects that are even better and better,” Garden Atlas Development Chief Architect & Founder Sarawut Kreuawan says.

The architectural design of the villas at Garden Atlas is truly a sight to behold. The attention to detail and exclusive touches found throughout each residence are exquisite. And if this project is the developer’s breakthrough, its future work will further establish the homebuilder as one of Phuket’s leaders in luxury villas.