Mixing business with pleasure could be the future of real estate

<img alt="A co-working space. Phichat Phruksarojanakun/Shutterstock" src="/documents/10204/0/shutterstock_1051332527-%281%29-compressor.jpg/a1f82c72-e90b-46b3-9c34-f11b7acb9aaf?t=1546499130165" style="width: 1400px; height: 640px;" />Sand in your toes, a light sea breeze ... It wasn’t too long ago that the cliché of a coworking space in Asia centred on dreadlocked digital nomads island-hopping through a professional gap year. And while small business owner-operators can still plug in from a beach shack in Canggu to confer with their factory in Guangdong whilst managing sales in Atlanta, research by Colliers reveals the share of freelancers and independent workers using flexible workspaces dropped by 15 percent over the three years ending in 2017. It’s not that fewer are living the laptop life; no, the flexible workspace market has exploded in Asia-Pacific over the past five years thanks to the enthusiasm of far bigger players on both the supply and demand sides. Big international operators are moving aggressively into the region, including WeWork, which opened its 200th location globally in Singapore in 2017 and is sending its coworking tentacles across Southeast Asia. Major property owners are getting into the act, partnering with flex-space companies and launching their own brands. Governments, noting the benefits of entrepreneurs to their economies, are adding their backing. And multinationals, employing what is referred to as a hub-and-spoke or core/flex approach, now consider flexible spaces an integral piece of their permanent operations, either locating entirely in such real estate or shipping younger, more mobile departments to such “off-sites”. Taken together, it’s little surprise that JLL Research found flexible space stock across Asia-Pacific charting a compound annual growth rate from 2014 to 2017 of 35.7 percent (compared with 25.7 percent in the United States and 21.6 percent in Europe), and the total stock managed by major operators growing by 150 percent. <div class="pull-quotes-container">Everyone is familiar with the dotcom-boom-era ping pong tables, in-house baristas, and—for the luckiest ducks—free beer. They’ve been joined by a sophisticated suite of options appealing to a more diverse, and increasingly corporate, clientele</div> Thailand alone has seen coworking spaces grow from four in 2012 to 132 in 2017—a figure expected to increase by 25 percent in 2018, according to Phattarachai Taweewong, senior manager at Colliers. By 2030, JLL predicts flexible space to comprise 30 percent of corporate commercial property portfolios across Asia-Pacific. Everyone is familiar with the dotcom-boom-era ping pong tables, in-house baristas, and—for the luckiest ducks—free beer. Such mancave perks haven’t gone the way of AOL IMs in this generation, but they’ve been joined by a sophisticated suite of options appealing to a more diverse, and increasingly corporate, clientele. More than letting networking happen organically, flexible work firms are purposefully creating programming and designing interiors to facilitate interaction. Hubba, Thailand’s homegrown first coworking space, has four distinct outlets in Bangkok each catering to different fields, from tech start-ups to artisans and craftsmen. Hubba offers a spectrum of useful seminars (Powerpoint pointers, customer-journey mapping), as well as personalized assistance with management, staffing, and even design. Spaces, another popular player in Bangkok, prides itself on style and flexibility, letting clients reserve anything from a locker to an enclosed area for a team. Their Chamchuri Square location won Best Co Working Space Development at the Property Guru Thailand Property Awards 2018—just a little piece of the global coworking operator founded in Amsterdam in October 2008. “And then Lehman Brothers collapsed,” the founders write on their website. “We thought this would be the end of it for us. But actually, we fit right in that spirit of age. Because of the crisis, everybody was re-thinking work.” <img alt="Artist’s impression of Spaces Chamchuri Square, winner of Best Co Working Space Development at the 13th PropertyGuru Thailand Property Awards" src="/documents/10204/0/SPACES-CHAMCHURI-SQUARE-%281%29-compressor+%281%29.jpg/bd56bf05-7b44-4009-9903-5c9fdcf5eaab?t=1546499897860" /> The Executive Centre (TEC), a pioneering Hong Kong-based flexible space provider founded in 1994 by Paul Salnikow, who had been seeking short-term office space for a Japanese firm expanding to London, credits the GFC as a gamechanger. “Prior to the financial crisis, TEC interacted with multinationals only when they were opening an office in far-flung locations,” says Pebble Lee, global public relations manager. Today, in Hong Kong alone, 67 percent of their clients are multinationals, including Apple, Morgan Stanley, Facebook and Twitter. TEC now has 20,000 members in Grade A offices in CBDs across 30 markets, having added 23 locations in 2017, and is expecting 30 percent annual growth from 2018. Beyond such prestige fittings as height-adjustable standing desks by 9AM, Herman Miller chairs, and Timothy Oulton furnishing, TEC is about all about innovation, their Hong Kong headquarters a “test kitchen—a place to trial new design concepts, products, and technologies,” Lee says. However, potential barriers belie the stunning growth of coworking spaces in the region. “Corporate culture in Asia tends to be more hierarchical, and not always in sync with the casual, flexible atmosphere,” says JLL research. “According to one industry observer, ‘In many markets across Asia Pacific, space is a reflection of status.’ Large organizations place high value on retaining brand identity and culture. Such concerns, along with the need to protect trade secrets and secure IT infrastructure, must be addressed.” It’s why the most sophisticated players act not only as builders, gatekeepers, event-planners and consultants, but also full-time IT departments, and in the case of WeWork, corporate fit-out contractors and developer partners. <img alt="The common areas at a WeWork co-working space in Sanlitun, Beijing" src="/documents/10204/0/20180522_WeWork_Sanlitun_-_Common_Areas-7-compressor.jpg/602f832b-9c5c-47ea-afd9-2ca967c54ca6?t=1546500194327" /> And those developers are coming in hot. A handful of large landlords control the supply (in Singapore’s CBD, the 15 largest landlords control 75 percent of Grade A office buildings; in Hong Kong East, three landlords run 80 percent of office buildings), entering the flex-space market themselves. Swire in Hong Kong—which has created its own brand, Blueprint, and inked deals with WeWork and The Great Room—and Ascendas in Singapore, says JLL, have realized they “can add value to their buildings and maintain or even extend their relationships with tenants by offering a diverse portfolio of core and flex space.” Even hotels have followed suit, looking at their business centers as community lounges, particularly in cities not recognized as regional commercial capitals. In Yangon, Shangri-La Group has opened a branch of FlySpaces. The new Shangri-La Hotel, Colombo, has a gorgeous new space called Co-nnect, with pods, private offices, meeting rooms with smart boards for both hotel guests and residents of the capital looking for a prestigious address to conduct business. <a href="http://property-report.com/detail/-/blogs/better-together-making-the-most-of-mixed-use-developmen-4" target="_blank">More: Making the most of mixed-use developments</a> While it’s easy to be cynical about the corporatisation of what was once considered a hippy-dippy industry, you might say global expansion has brought the coworking market full-circle. In a recent survey by TEC, members say they value their community as defined by connecting, networking, and collaboration. The firm will soon roll out a client portal, MyTEC, enabling members worldwide to connect directly, give advice, help grow their businesses, and maybe start new ones. The way they might have found common ground while chilling in hammocks in a wired-up beach shack. It may not be sand-between-the-toes, but it is pie-in-the-sky community-minded. And isn’t that the whole point? This article originally appeared in <a href="https://magzter.com/TH/PropertyGuru-International-(Thailand)-Co.,Ltd/Property-Report/Business/" target="_blank">Issue No. 151</a> of PropertyGuru Property Report Magazine

Common grounds: the year in co-working spaces

<img alt="The Golden Bridge is lifted by two giant hands in the tourist resort on Ba Na Hill in Danang, Vietnam. Quang nguyen vinh/Shutterstock" src="/documents/10204/0/shutterstock_1152454088-compressor.jpg/4f08053b-085b-4c75-8a7c-2949990f1434?t=1546414490784" style="width: 1400px; height: 640px;" />Secondary markets may not offer the same dynamic business environment as Asia’s major cities. But with Chinese money pouring into the region and sunny seaside resorts developing into worthy digital hubs they offer fertile ground for big returns. In Cambodia, secondary markets have grabbed international headlines in the past year. Sihanoukville, on the southern coast, has been the poster-child for Chinese investment. Also growing in appeal is Poipet, a lesser-known city bordering Thailand. Speak to any tourist or expat who has at some point crossed the border into Poipet, and they’ll rarely have anything good to say about the place. In the absence of any real industry, Poipet has long been synonymous with rip-off merchants, scammers, gamblers, and other unsavoury sorts—a place where visitors cannot wait to leave and where respectable businesses fear to tread. But things appear to be changing. Since economic zones were launched, and a railway line linking Bangkok to Poipet and Phnom Penh completed last July, the city’s property market has taken a surprising turn. “Many investors from the outside are eyeing Poipet as a great investment destination,” says Hor Kunthea, CEO of Sokha Residences Group. Poipet, with its 30 odd casinos and a growing manufacturing industry, is seeing an expanding Chinese and Korean expat community, mirroring the early rumblings of Sihanoukville’s growth spurt. Sixteen real estate projects were completed in 2017, putting more than 1,500 units onto the market. Adding to this, Poipet governor San Sean Ho has announced the government will build a golf course, an artificial river, a giant garden, and floating market. <div class="pull-quotes-container">In Sihanoukville, the market continues to ride its own investment boom. The sleepy town has undergone immense transformation from a faded backwater to a town jacked up on Chinese cash</div> In more established Sihanoukville, the market continues to ride its own investment boom. The sleepy town has undergone immense transformation from a faded backwater to a town jacked up on Chinese cash. Sotharoth Som, managing director of KHCN Investment and Development Co., Ltd, the developer of the 43-storey Seagate Suite project in Sihanoukville, reports rental prices across the board have gone up five to 10 times, with those closer to the city centre being most expensive. Som says foreign investors, mainly from China, are driving the boom, as they “seek the opportunity to obtain higher rental yields than what is offered in their home countries, along with capital appreciation and low barriers to entry.” <img alt="Sihanoukville’s Best Residential Development, according to the PropertyGuru Cambodia Property Awards 2018, is The Seagate Suite" src="/documents/10204/0/The-Seagate-Suite-by-KHCN-Investment-and-Development-Co-Ltd-won-Best-Residential-Development-%28Sihanoukville%29-at-the-Cambodia-Property-Awards-2018-for-web-151-compressor.jpg/140feb7c-54d2-4699-b8b8-c9545624ce84?t=1546416006849" /> “The Sihanoukville market has emerged as an alternative condominium hub to the Phnom Penh market,” adds Som, pointing out, however, that compared to Phnom Penh, it is still in its infancy. Elsewhere in Asia, secondary cities are similarly enjoying Chinese-powered boosts as ties with the country strengthen. In the Philippines, warmer relations with China have seen developers benefit from rising demand from Chinese employees and investors, while partnerships between Filipino and foreign developers are expected to increase. <img alt="Artist’s impression of The Courtyard at the Residences at The Sheraton Cebu Mactan Resort by Appleone Mactan Inc. (AMI), which took home the prize for Best Luxury Condo Development (Cebu) at the Philippines Property Awards 2018" src="/documents/10204/0/The-Residences-at-the-Sheraton-Cebu-Mactan-Resort-by-AppleOne-Mactan-Inc.-%28AMI%29-won-Best-Luxury-Condo-Development-%28Cebu%29-at-the-Philippines-Property-Awards-2018-%282%29-compressor.jpg/369bf1c1-12b0-4670-96f9-b52428e516d8?t=1546415703153" /> “Leasing of condominiums in the secondary market remains strong, resulting in lower vacancy and arresting the decline in rents,” states a recent market update by Colliers International, a real estate services company. “Developers should look at housing opportunities in Cebu, Pampanga, and Laguna as offshore gaming firms have started to operate in these locations,” the company advises. Quite like Poipet, Davao City on the southern Philippine island of Mindanao is emerging an unlikely investment haven. The president’s former mayoral city once had a reputation for gun crime; today, property prices are rising. Units on Davao’s Dahican Beach, for example, now sell for PHP10,000 (USD185) to PHP12,000 per square metre compared with PHP1,000 and PHP1,500 per square metre in 2015.  “They know that locators from outside are scrambling for any available space here in the city, not only because the President is from here, but because movement of businesses into Davao City has been going on for several years now,” Adrian Tamayo, a Mindanao expert, told the Business Mirror. Meanwhile in Da Nang, Vietnam, holiday homes and tourism-related properties are in high demand. The city’s latest attraction, a 150-metre golden bridge cradled by two enormous stone hands jutting out of the rocky highlands, has become a social media sensation.  <a href="http://www.property-report.com/detail/-/blogs/rising-dragon-boom-times-continue-in-vietnam-real-esta-3" target="_blank">More: Boom times continue in Vietnam real estate</a> “The main supply [in Da Nang] is in the hospitality and tourism segment,” according to Peter Frieske, founder and managing director of Central Vietnam Realty. Tourism, he says, is rising sharply and analysts predict it will continue to do so.  Currently one of the top destinations for Chinese and South Korean visitors in Vietnam,  Da Nang received more than five million visitors in the first seven months of 2018—up 30 percent over the same period in 2017, according to the Da Nang tourism department. Of this figure, more than 1.8 million were foreign arrivals, which are up by 54 percent. “The majority of developers are building resorts, with property for sale or condotel villas that are in some way offered with management programmes focusing on returns on investment rather than lifestyle residential properties. When it comes to quality residential projects, the supply is very low,” points out Frieske, adding this is due to the lack of industry in such places. In Phuket where the market has languished in recent years—year-on-year sales dropped 36 percent in 2017—analysts are optimistic 2018 might yield better results. <img alt="The Botanica Luxury Villas won the highly competitive Best Villa Development (Phuket) category at the 2018 Propertyguru Thailand Property Awards" src="/documents/10204/0/Best-Villa-Development-%28Phuket%29-winner-for-2018-is-Botanica-Luxury-Villas-by-Botanica-Luxury-Phuket-Co.%2C-Ltd-for-web-151-compressor.jpg/0d1c6751-6bf3-4c63-8430-4b92cde23c40?t=1546415949403" /> Knight Frank’s Lalita Siriboon, associate director of research, says Phuket’s condominium market is expected to improve in line with Thailand’s economy and as the expat population on the island grows. “Demand across the market will continue to be driven upwards by international homebuyers, investors, and expatriates, especially those from Mainland China, Russia, and Australia. Besides, we expected to see a larger portion of buyers from South Korea,” she says, adding there are also government efforts to raise the profile of Phuket as a digital hub and “Smart City,” which is forecast to boost real estate in Phuket by 2020 when the project is to be completed. Unlike capital cities where business and industry will always give people a reason to live there, the jury is still out on Asia’s secondary markets. As it is, investors need to carefully decide whether these “capital contenders” really are a place to call home, or just precariously thriving off clever marketing. This article originally appeared in <a href="https://magzter.com/TH/PropertyGuru-International-(Thailand)-Co.,Ltd/Property-Report/Business/" target="_blank">Issue No. 151</a> of PropertyGuru Property Report Magazine

2018: the year in secondary property markets

<img alt="One of the top winners at the 2018 Asia Property Awards (Malaysia) is LBS Bina Group, whose LBS Skylake Residence won Best Mass Market Development (Condo) among other honours" src="/documents/10204/0/LBS-Skylake-Residence%2C-won-Best-Mass-Market-Development-%28Condo%29-for-web-compressor.jpg/ce043b3a-f941-4e8e-8c3f-88cb5bba93bb?t=1546244522761" style="width: 1000px; height: 667px;" />Spanning roughly a third of the earth’s landmass, the Asia-Pacific region is home to more than 60 percent of the world’s population—and its rapidly growing cities are beginning to feel the pinch.   The urgent need to create quality affordable housing on limited land has become a defining issue across the region, where soaring property prices and stagnating incomes have left many struggling for a place to call home.   But 2018 brought several breakthroughs on this critical front. Recent elections ushered in new administrations in Hong Kong, New Zealand, and Malaysia, all promising to cure their respective housing crises as a top priority.   Innovative design and urban planning firms have cropped up across Asia, breathing new life into mass housing developments and putting sustainability front and centre.   Singapore’s public housing scheme, created in the 1960s, still shines as the region’s gold standard. Today, more than 90 percent of the city-state’s 5.6 million residents are homeowners. While the Singapore model isn’t easily exportable, many of its neighbours are finding their own unique solutions.   Malaysia suffers no shortage of innovative developers; with more land and lower costs than neighbouring Singapore, the Southeast Asian nation seems to be enjoying a steady emergence from its years-long property malaise.   <a href="http://www.property-report.com/detail/-/blogs/better-together-making-the-most-of-mixed-use-developmen-4" target="_blank">More: Making the most of mixed-use developments</a> Political headwinds may have helped. In May, Malaysian voters decisively ousted the administration of former Prime Minister Najib Razak, who was deeply embroiled in the 1MDB embezzlement scandal. The new government of Mohammad Mahathir, who returned to power at the age of 93 on a promise of cleaning up corruption and shoring up investor confidence, swiftly began a wholesale undoing of Najib’s policies.  Home-grown firms were more than ready for change, and have seized the opportunity. LBS Bina Group, based in Kuala Lumpur, is among the most prolific when it comes to creating large scale, community-oriented housing, launching successful projects in the Klang Valley, Johor, and Kuala Selangor.   LBS Bina swept this year’s Property Guru Asia Property Awards, recognized as Malaysia’s Best Developer and making off with a cache of other honours for innovation in mass-market condominiums, corporate social responsibility, and sustainability.   Having already gained a strong foothold, the firm now seeks to lead the way by lowering construction costs through an industrialized building system of pre-cast concrete that reduces the need for labour. Ong Wei Ling, a spokesperson for LBS Bina, says the method results in “cleaner, neater, and safer construction sites” completed in a fraction of the time, “helping developers deliver value to investors or buyers awaiting their dream home.”  Other firms such as UEM Sunrise Berhad, one of Malaysia’s largest developers, and OCR Berhad Group have been among the most strident designers of affordable housing, the latter serving as project manager for the massive Yayasan Pahang development in Mukim Penor. Once completed, it is expected to create roughly 25,000 units. <img alt="Citiesto by Kien A Corporation won Best Affordable Condo Development (Ho Chi Minh City) at this year’s Propertyguru Vietnam Property Awards" src="/documents/10204/0/Citiesto-by-KIEN-A-Corporation-for-web-151-compressor.jpg/e31235f8-535d-4ba9-bff8-7a3d7b04126e?t=1546244571355" /> Smaller than the U.S. state of Rhode Island, with nearly seven times the population, Hong Kong is home to about 7.4 million people crammed into 2,754 square kilometres packed with high-rises divvied up into miniscule units. Year after year, this semi-autonomous region of China is named one of the most expensive cities in the world, a vital gateway between East and West that costs an average of USD28,000 per square meter.  “The Hong Kong problem is quite unique and is complicated by the fact that Hong Kong just doesn’t have enough land,” says David Ji, director and head of research and consultancy for greater China at Knight Frank. “They have to squeeze as much out of it as they can.” This conundrum has put Hong Kong’s policymakers in the uncomfortable position of having to either create new landmasses or convert older properties for new use.   <img alt="Topped by an exclusive rooftop garden, Star Polaris 23 by Borey Peng Huoth Group won Best Affordable Condo Development in Phnom Penh this year" src="/documents/10204/0/Star-Polaris-23-by-Borey-Peng-Huoth-Group-for-web-compressor.jpg/6ecefbf3-e21a-4c56-b225-1a0cc998322b?t=1546244589690" /> Chief Executive Carrie Lam, who assumed the territory’s highest office in 2017, has said solving the city’s housing crisis is among her top priorities. While plans to build affordable housing on roughly 1,700 hectares of artificial islands—a project called Lantau Tomorrow Vision—have come under criticism, she may have few viable alternatives to land reclamation. Property experts say Lam has made strides with long-term housing goals, but is bound to face opposition because she has yet to come up with short-term solutions to help the many Hong Kongers who need homes now.   “A comprehensive proposal has been tabled, which has never happened before, and as a long-term proposal this is a positive step,” says Ji. “But all these measures are planned far in the future, we’re looking at five to 10 years down the line, and buyers still find it difficult to get on the property ladder.” While prices have risen for 20 consecutive months, Ji says he expects some relief by year’s end.   <div class="pull-quotes-container">People are rethinking affordable housing—not as a burden that nobody wants to build, but trying to put affordable housing into private developers’ plans</div> Several governments in the Asia-Pacific have also moved to limit foreign ownership—due in part to concerns about Chinese expansionism—but experts say these policies are misguided. New Zealand’s recent ban on foreign residential sales prompted the International Monetary Fund to warn that the policy was discriminatory.   When Malaysian premier Mahathir suggested curbing foreign ownership of units in the USD100 billion Forest City project, the idea sent a chill through the investment community. “Permitting foreign investors to buy new housing obviously increases demand for housing,” says Brendan Coates, a fellow at Melbourne-based think tank the Grattan Institute, “but supply also increases if foreign investors enable developers to build more housing than otherwise.”   China’s own reform of land and financial policies are working to keep investors well within its borders. Outbound capital limits have led many Chinese to invest closer to home, while land use regulations have been altered to require a percentage of mixed-income housing on large scale property developments to meet growing demand.   “I think in the greater China region, people are rethinking affordable housing—not as a burden that nobody wants to build, but trying to put affordable housing into private developers’ plans,” says Ji, of Knight Frank. “The trend is changing from ‘whoever pays the highest price gets the land,’ to a more targeted, controlled use of property.”  This issue originally appeared in <a href="https://magzter.com/TH/PropertyGuru-International-(Thailand)-Co.,Ltd/Property-Report/Business/" target="_blank">Issue No. 151</a> of PropertyGuru Property Report Magazine

Affordable housing sets the agenda in Asia-Pacific

<img alt="The lake at Celadon City, winner of multiple PropertyGuru Vietnam Property Awards this year, including Best Mixed Use Landscape Architectural Design" src="/documents/10204/0/Sustainability-year-end-special-151-for-web-compressor.jpg/f63c772c-a71a-4a89-bcde-b2cab331756b?t=1545891457562" style="width: 1000px; height: 667px;" /> Ten years ago, sprawling conurbations like Saigon or Manila—notorious for their infrastructure and environmental challenges—weren’t obvious destinations for seeking out bastions of sustainability. Today, these cities are seeing the rise of world-class projects displaying green credentials, enticing middle-class apartment-seekers who are forming an increasingly sizeable tranche of society in Vietnam and the Philippines. By 2020, Vietnam’s average annual per capita income is predicted to almost double, from USD1,735 in 2016 to USD3,400. With its large population of citizens under 35 transitioning from a primarily rural economy to an urban one, Vietnam’s property market is proving a lucrative environment for developers, tenants, and both local and foreign buyers, with investors from China, South Korea, Singapore and Malaysia pumping huge sums into the building sector. In Ho Chi Minh City, two companies are paving the way for sustainable real estate. Gamuda Land, the property development arm of Malaysia’s leading engineering and construction group, started building its 82-hectare Celadon City in 2010, making it the first nature-inspired enclave within this traffic-choked megalopolis.  Prioritising sustainable living from the outset, Gamuda introduced such innovations as a rain harvesting system that utilises energy-efficient water tanks to collect rainfall around the property and transfer water to irrigation areas. The integrated township in Tan Phu district, home to 7,300 apartments across four precincts that can accommodate 25,000 people, won the Best Mixed Use Landscape Architectural Design gong at the PropertyGuru Vietnam awards this year. <a href="http://property-report.com/detail/-/blogs/can-green-buildings-turn-the-tide-in-climate-acti-10" target="_blank">More: Can green buildings turn the tide in climate action?</a> “Celadon City has more than 16 hectares dedicated to lush parklands [that afford] residents the privilege of enjoying nature,” says communications executive Tran Nam Phuong, adding that the Cultural Village, Central Park, the Celadon Sports & Resort Club, and other gathering places within the property offer a sense of community. It’s a concept that’s proven influential, as demand for green living spaces are increasing.  A similar success story is Gamuda City, another landmark project in Southern Hanoi, which confronted the Yen So lake area’s chronic water pollution, garbage disposal, and sewage issues head on. Far beyond building a condo, the development effected the complete rehabilitation of a polluted suburban wasteland, leading to significant public health benefits. Making major inroads into HCMC’s sustainable building boom is CapitaLand Vietnam, whose luxurious, 102-room D1MENSION development in Cau Kho is the first boutique housing development in Saigon—one among CapitaLand’s 13 green estates in the city. Themed projects including De La Sol, D2eight, and d’Edge Thao Dien offer new condominium alternatives to young professionals. “CapitaLand remains committed to building a greener future for Vietnam,” says CEO Chen Lian Pang. “Lowering our environmental footprint creates value for our stakeholders. We incorporate environmental sustainability in all stages of a project, [from] design and construction to operations.” A key wealth creator in the country, the Singapore-headquartered company—which scooped 13 PropertyGuru Vietnam awards this year, including Best Developer, Best Condo, and Special Recognition for Sustainable Development—has built almost 5,000 apartments across six other cities, from Halong to Nha Trang. <img alt="Winner of Best Green Development at this year’s Propertyguru Asia Property Awards (Sri Lanka), Clearpoint Residencies Rajagiriya come with self-sustaining gardens instead of ordinary balconies" src="/documents/10204/0/Clearpoint-Residencies%2C-Rajagiriya%2C-Sri-Lanka-by-Maga-Engineering-%28Pvt%29-Ltd-%26-Milroy-Perera-Associates-%28Pvt%29-Ltd.-won-Best-Green-Development-%282%29-compressor.jpg/98d681e9-5b00-41ed-9632-44756bcba7ae?t=1545891791227" /> In Metro Manila—another densely populated Southeast Asian city with a burgeoning  middle- and affluent class—Taguig-based ArthaLand is a home-grown leader in marrying sustainable credentials with cutting-edge architecture. The property arm of the Century Pacific group has carved a niche in the Philippine market by exclusively focusing on properties that adhere to global and national standards in green buildings. Being the only development in the Philippines to have received the coveted gold certification in the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) program, its flagship dual-towered Arya Residences in Bonifacio Global City is a milestone in the country for its design and eco-friendly features. Arya Residences’ construction naturally channels the breeze, its balconies and ledges lending natural shade into the units, adding meaningful outdoor space even as daylight reaches 75 percent into the indoors. Interiors are decorated using paints and resins with low volatile organic compound emissions, while built-in fixtures and appliances deploy advanced technology to reduce environmental impact and usage cost. Winning this year’s “Special Recognition in Sustainable Development” at the PropertyGuru Philippines Property Awards, ArthaLand emphasises human advantages. Arya Residences encourages its residents to live a more environmentally conscious, cost-efficient, and healthy lifestyle. Their advertising tagline,  “Green is the new luxury”, is echoed by Raymond Rufino, chairman of the Philippine Green Building Council. “[Sustainability should be more than just achieving efficiency and cost-effectiveness for your property,” says Rufino. “The new frontier for green buildings is improving the health and wellbeing of the people who live, work and play [within your property]. This is a more powerful argument to support going green.” Angie de Villa-Lacson, ArthaLand president and CEO, stresses sustainable architecture has a ripple effect not just for residents, but the property sector at large. “Standardising green measures is a major step in encouraging developers to take sustainability seriously,” she says. “Greening should go beyond landscape and waste management. To fully reap the benefit of sustainability, developers should be able to measure the inputs and outputs of our buildings’ eco-friendly features.” <div class="pull-quotes-container">There has never been a better time for investors to go green. And with developers around Asia adopting sustainable practices,the real estate scene in the region has rarely looked more mindful</div> Further west, Sri Lanka is proving another sustainability powerhouse, largely due to Maga Engineering, the country’s largest construction company whose work covers healthcare, hospitality, transport, and water supply. As the builders of the world’s tallest vertical garden and the first LEED Platinum-rated clothing factory, Maga comes forearmed with impressive green credentials. Its Clearpoint Residencies in the Colombo suburb of Rajagiraya is its most forward-looking residential project to date. Clearpoint’s 171 apartments come with a self-sustaining garden instead of a balcony; its planted terraces and tree plantations absorb sound, boost oxygen levels, provide shade, and reduce heat. Other eco-boasts include cross-ventilated apartments, solar panels, and an automated drip-irrigation system that keeps terraces watered.  “Each apartment functions as its own microhabitat, creating a synergy between occupants and their environment,” says sustainability director Mega Kularatne, pointing out that while Clearpoint demonstrably occupies the high-end housing category, innovations inside and outside the building—including waste water recycling which reduces main water usage by 45 percent—actually serve to reduce homeowners’ maintenance costs. With the future of the planet a pressing concern, there has never been a better time for investors to go green. And with developers around Asia adopting more sustainable practices, the real estate scene in the region has rarely looked more mindful. This article originally appeared in <a href="https://www.magzter.com/TH/PropertyGuru-International-(Thailand)-Co.,Ltd/Property-Report/Business/" target="_blank">Issue No. 151</a> of PropertyGuru Property Report Magazine

Innovative firms blaze trail for sustainable real estate in Asia

<img alt="M+S Pte Ltd took home a multitude of awards at the South east Asia Property Awards (Singapore) 2016, including Best Mixed-Use Development for the sprawling Marina One Project" src="/documents/10204/0/MIXED-USE-YEAR-END-SPECIAL-FOR-WEB-compressor.jpg/db78649c-3ab0-45c5-ba02-a715c4bc87a7?t=1545888548740" style="width: 1010px; height: 667px;" />From Singapore to Ho Chi Minh City, Southeast Asian developers are seeing the benefits of mingling business with pleasure. Self-contained communities that offer residences, retail, offices, and green spaces are emerging as the new development paradigm across a region where old ideas of city zoning are being eroded by vertical mixed-use mega-projects.   Singapore’s newly opened Marina One residential and office development has added a tropical, green heart to the CBD in the form of a 65,000-square-foot garden designed in collaboration between Ingenhoven Architects and landscape specialists ICN Design.   Jakarta’s District 8, a development of 11 towers across 4.8 hectares of the Sudirman Central Business District, has also reached completion. Developed by the Agung Sedayu Group, it brings residences and a public park right into the heart of South Jakarta’s financial zone.  In Bangkok, TCC Group’s One Bangkok (in partnership with Golden Land and Frasers Property Limited) is a USD3.5 billion development that covers an area one third the size of the adjacent Lumphini Park and encompasses living and work space for 60,000 people, including residential buildings, office towers, retail zones, and publicly accessible parks and green spaces.   “Vertical communities often deal with the high density mandated for many Asian city centres,” says Ping Jiang, the design principal at EID architecture. His firm designed the 320-metre-tall OCT XI'AN International Centre (OXIC) in Xi’an, China, where parks, piazza-style common areas, and even terrace streets are positioned over multiple storeys of two skyscrapers.    <a href="http://property-report.com/detail/-/blogs/amid-urban-sprawl-and-overpopulation-indonesia-turns-to-model-mixed-use-complex-5" target="_blank">More: Amid urban sprawl, Indonesia turns to model mixed-use complexes</a> In contrast to sprawling development, Jiang points out, “vertical communities create synergy between different uses and foster dynamic neighbourhoods. By integrating business, leisure, retail, and residential spaces, the design of a vertical community is strategically organised to create a vibrant, permeable urban destination to live, work, and visit.”   Analysts at JLL real-estate services predict vertical living solutions will dominate the Asian market. “As cities become more developed, and densities become higher, it makes sense to build more mixed-use developments,” says Regina Lim, head of capital markets research, Southeast Asia.   “Mixed-use developments bring together complementary uses,” she continues. “Retail shops benefit from the natural catchment of offices or hotels or apartments while the residents and workers enjoy the convenience. As maintenance management schemes become more sophisticated, they allow effective property management of these integrated projects. Apartments with these amenities sell well.”  But not all trends in Asian mixed-use are vertical. Throughout the Philippines, developers continue to favour township-style projects, for which huge land footprints provide fertile ground to design integrated communities from the ground up.   Megaworld Corporation has long been at the forefront of building from scratch new towns whose components stretch from serviced condominiums and rows of townhouses to malls, leisure facilities, and shopping districts.   <img alt="A view of Le Quest, winner of Best Mixed Use Development at the PropertyGuru Asia Property Awards (Singapore) 2018" src="/documents/10204/0/Le-Quest-compressor+2.jpg/8c40fe6e-596e-48e9-b638-7300655f2415?t=1545889041719" /> This year alone, Megaworld has announced new residential and commercial developments for its townships in Manila, Pampanga, Pasig City, and Bacolod City, while also rolling out a “smart township” initiative to future-proof its existing townships.   Starting with Davao Park District, the “iTownship” programme will see the 11-hectare development fitted with fibre optic infrastructure, bike lanes and rental systems, LED-powered lighting and signage, solar-powered street lamps, and vertical open spaces and gardens.  While townships have traditionally been confined to once rural areas, UAA Kinming Group’s New Manila Bay – City of Pearl is being developed on a huge tract of reclaimed land along Manila’s shoreline. Projected to open in 2024, City of Pearl broke ground in August 2017 and, when completed, will take up 407 hectares of reclaimed land and connect directly to Roxas Boulevard, a major thoroughfare.   For comparison, Thailand’s under-construction One Bangkok mixed-use project—itself a huge project for a capital city centre—covers just 18 hectares. “There are many townships in Asia, but those townships are in the middle of nowhere,” says Nicholas Ho, deputy managing director of Ho & Partners Architects, the Hong Kong-based lead designer of the project. “This township is extremely prime in terms of its location—it’s right smack in the middle of town, with 360-degree views.”  Ho reveals that retail, in the form of a three-kilometre riverfront shopping strip, is not “just a mall” but engages with the central park and the riverside, “so that it becomes a thematic integrated entertainment complex.”  Similarly in Vietnam, Ho Chi Minh City’s Thu Thiem New Urban Area will cover a vast 657-hectare site across the Saigon River from the central District 1. Touted as the capital’s new financial zone, it will not only encompass office towers for some 217,000 employees, but also enough residential units for a population of 145,000.    It’s not only in urban areas, however, where ambitious mixed-use projects are breaking the mould. On the tree-lined shores of Phuket’s Kamala Beach, the USD67.5 million luxury MontAzure development comprises hotel-managed condos, a lifestyle mall, a 200-room InterContinental Hotel, and Cafe del Mar, which is already part of the development's unique beachfront attractions.   <div class="pull-quotes-container">We are spoiled by the compactness of urbanisation, a precursor of mixed-use design. Urbanisation has happened on a global scale and it’s all because we crave connectivity</div> “Developers are realising that if they build a core concept, it adds value to the project, rather than simply selling parcels of land,” says Martin Palleros, founder and director of Tierra Design and the architect behind The Residences at MontAzure. “It’s all about what you can offer the community, and not just in terms of the property components,” he adds.   Nicholas Ho believes that driving Asia’s demand for such integrated developments is an urge to feel connected. “In Asian society, people crave for connectivity a lot more than the rest of the world,” he explains. “We are spoiled by the compactness of urbanisation, a precursor of mixed-use design. Urbanisation has happened on a global scale and it’s all because we crave connectivity.”  Successful mixed-use schemes have the capacity to create diverse, vibrant neighbourhoods in which people can live, work, and socialize. They bring round-the-clock life to central business districts. They provide private land parcels with pedestrian-friendly solutions and interlink disparate downtown neighbourhoods.   Ho predicts this integrated, community-driven approach to development will gradually become the new normal. “The future of mixed-use is going to shift the existing paradigm,” he says. “We will gradually move from the two extremes of urbanisation, urban and suburban, towards one. The walls of living and work spaces are coming down.”  This article originally appeared in <a href="https://www.magzter.com/TH/PropertyGuru-International-(Thailand)-Co.,Ltd/Property-Report/Business/" target="_blank">Issue No. 151</a> of PropertyGuru Property Report Magazine

Better together: making the most of mixed-use developments

Mixing business with pleasure could be the future of real estate

The Twinpalms Residences MontAzure will be one of the many components of the 454-rai masterplanned community on Phuket’s west coast

When One Bangkok opens in downtown Bangkok in 2021, it will be the most expensive real estate project in Thai history. Spread out across 18 hectares of land adjacent to Lumphini Park, the USD3.5 billion development covers an area one third the size of the park itself, yet encompasses living and work space for 60,000 people.

Crowned by a soaring, gold-hued skyscraper of some 90 storeys, One Bangkok’s components feature five office towers, five hotels, three residential buildings, four retail zones and space for arts and cultural performances, in addition to publicly accessible parks and green spaces.

It represents mixed-use development at its most ambitious: vertical, horizontal, and unrestrained by city zoning concepts that governed urban planning for most of the 20th century.

In Singapore, the soon-to-open Marina One residential and office development adds a tropical, green heart to the CBD in the form of a 65,000-square-foot garden designed in collaboration between Ingenhoven Architects and landscape specialists ICN Design.

Meanwhile in Manila, One Bonificio provides the new headquarters for the Philippine Stock Exchange and also a luxury condominium with 289 units and a Shangri-La hotel, all connected to the existing Bonificio High Street – itself a retail-focused mixed-use development.

Vertical communities such as OXIC in China’s Xi’an 'create synergy between different uses and foster dynamic neighbourhoods'

In Xi’an, China, the 320-metre-tall OCT XI'AN International Center (OXIC) presents a vertical design solution that sees parks, piazza-style common areas and even terrace streets positioned over multiple stories of two skyscrapers.

“Vertical communities often deal with the high density mandated for many Asian city centres,” says the architect behind OXIC, Ping Jiang. The Shanghai-based design principal at EID architecture firm won an international competition to design OXIC in September 2017.

It’s not only in urban areas where ambitious mixed-use projects are breaking the mould

“In contrast to sprawling development, vertical communities create synergy between different uses and foster dynamic neighbourhoods. By integrating business, leisure, retail and residential space, the design of a vertical community is strategically organised to create a vibrant, permeable urban destination to live, work and visit.”

It’s not only in urban areas, however, where ambitious mixed-use projects are breaking the mould. Back in Thailand on the tree-lined shores of Phuket’s Kamala Beach, the THB2.2 billion luxury MontAzure development in beginning to take shape.

More: What awaits Thailand's residential market in 2018

The 454-rai mixed-use project is set to comprise a comprehensive roster of upscale amenities, including hotel-managed condos, a lifestyle mall, a 200-room InterContinental Hotel, and Cafe del Mar, which is already part of the development's unique beachfront attractions. It also recently announced the addition of Kamala Senior Living, a luxury retirement community geared towards leisure-oriented, high-net-worth homeowners.

"Developers are realising that if they build a core concept it adds value to the project, rather than simply selling parcels of land," says Martin Palleros, founder and director of Tierra Design and the architect behind The Residences at MontAzure.

"It's all about what you can offer the community, and not just in terms of the property components," he adds. "It could be lagoon-style water features, hiking trails or direct beachfront access, in the case of MontAzure."

More: Thailand real estate is relentless, expensive, and highly desirable

While mixed-use communities across the region have emerged as the new development paradigm, the trend has its roots in ancient history.

Tightly packed, walled medieval villages pioneered living conditions that can be witnessed in modern mixed-use, with residents, shops, churches and public amenities all crammed into a compact space. Today the same concept applied vertically challenges traditional urban zoning restrictions that see cities segregated into residential, retail and business quarters.

Real estate analyst JLL has long been predicting the proliferation of mixed-use projects throughout the region, as developers look to maximise land use while diversifying assets.

One Bangkok is set to rejuvenate an area of Bangkok that has been lying dormant since the 2011 closure of Suan Lum night market

“As cities become more developed and densities become higher, it makes sense to build more mixed-use developments,” says Regina Lim, head of capital markets research, Southeast Asia, whose recently released report, New Urban Models in a Youthful Southeast Asia, details the value developers are placing on mixed-use schemes that are designed to attract public foot traffic.

“Mixed-use developments bring together complementary uses,” she continues. “Retail shops benefit from the natural catchment of offices or hotels or apartments while the residents and workers enjoy the convenience. As maintenance management schemes become more sophisticated, they allow effective property management of these integrated projects. Apartments with these amenities sell well.”

The future of mixed-use development will increasingly be dictated by the demands of the wider public. Ping Jiang points to the role that public interaction with multiple-use development plays in bringing life to central city locations outside of business hours.

More: 3 real estate leaders share secrets to successful mixed-use development

“The future of mixed-use development is about the spatial and experiential quality of space,” he says. “Not only will we increasingly see mixed-use take over from dedicated office or retail blocks, but also more innovative uses, maybe a new type of hybrid project varied in scale and its mix of functions.”

Youth consumer behaviour will also dictate the multi-functionality of urban space, a trend that will increasingly enter the mixed-use urban space.

“Young consumers with strong spending power and a taste for the eclectic are inspiring unconventional shopping malls across Southeast Asia,” Lim of JCC says. “Some incorporate cycling tracks and a ‘tree of life’ within the building, while others exhibit a FIFA-qualified soccer field and Olympic-size skating rink.”

Successful mixed-use schemes have the capacity to create diverse, vibrant communities in which people can live, work and socialise. They can bring round-the-clock life to central business districts and provide private land parcels with pedestrian-friendly solutions to previously abandoned or underused areas. Whether such projects succeed however depends as much on unit sales as it does on the lifestyle opportunities they introduce.

Reimagining mixed-use communities on Phuket

Located alongside Phuket’s prestigious Kamala Beach on the West Coast, MontAzure is one of the famed island’s most highly-anticipated real estate projects. With the Twinpalms-branded residences already proving very popular with investors, the community will soon welcome its anchor hotel, InterContinental Phuket Resort in 2019, in addition to a range of high-end restaurant and retail options. Plans were also announced last year to develop a THB3.5bn upmarket senior living village with dedicated facilities and amenities.

For more information on MontAzure, visit MontAzure.com

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<img alt="Image credit: N.C.C Exhibition Organizer Co., Ltd." src="/documents/10204/0/YJ1A2437-compressor.jpg/fcc30cb2-9ea0-4e74-973f-6fd57ed5f326?t=1550224649113" style="width: 1001px; height: 667px;" />The Architect Expo in Thailand is coming back this year with a new theme, informed by current climate realities and a focus toward sustainability and environmental awareness. The annual affair, mounted by the Association of Siamese Architects under the Royal Patronage (ASA) since 1986, will be dubbed Architect’19 with the theme ‘Living Green’. Some 850 brands will be exhibiting at the event, to be held at Challenger Hall 1-3 of the IMPACT Arena in Bangkok between 30 April and 5 May. Architect’19 promises to be on theme with the use of eco-friendly materials, paperless processes, energy-efficient lighting, and effective waste management throughout the 60,000-square-metre exhibition area. Highly anticipated themed exhibitions include ‘Green Building Showcase’, revolving around eco-architectural design by Asia’s leading designers; ‘Wisdom from 3 Regions in the Modern World’, about finding sustainable solutions in old innovations; ‘Go Zero Waste’, on exploring daily life without waste; and ‘Innovative Green Products’, featuring a selection of environment-friendly building materials. <a href="http://property-report.com/detail/-/blogs/can-green-buildings-turn-the-tide-in-climate-acti-10" target="_blank">More: Can green buildings turn the tide in climate action?</a> “Irregular extreme weathers resulting from the global warming condition have so much perverse impact on the economy, society, and quality of our lives in the world,” Dr. Acharawan Chutarat, chairperson of the Architect’19 committee, said in a statement. “It is one of the most pressing issues that requires experts, especially those whose work directly impacts the environment like architects, to urgently find a solution — whether in design, materials, or methods.” On that note, the ASA is looking for exemplary, original entries showcasing sustainable design for its annual International Design Competition, with around THB280,000 (USD9,000) at stake this year. Architect Nico Kienzl from New York’s Atelier Ten is due to appear at the expo forum, along with esteemed speakers and thought leaders from Foster + Partners, Eco Architect, and S/T/U/do. The ASA is making Architect’19 possible in cooperation with N.C.C. Exhibition Organizer. Last year’s expo drew over 400,000 visitors.

Long-running Thai design expo tackles new climate realities

<img alt="Stormy skies over the Victoria Harbour skyline in Hong Kong SAR. Efired/Shutterstock" src="/documents/10204/0/shutterstock_289373162-compressor.jpg/fbfae443-42c2-4256-be79-de095ca9c241?t=1550224126379" style="width: 953px; height: 667px;" />Prime prices worldwide are succumbing to the downward pressures of property market regulations, rising finance costs, geopolitical uncertainty, and a high volume of new prime supply, according to Knight Frank’s Global Outlook 2019 report. The consultancy’s Prime Global Cities Index, which tracks prime prices across 43 cities worldwide, is posting its slowest positive growth rate since 2012. Of 15 key cities tracked by the index, the cities of Hong Kong and Mumbai will lead the slowdown with prime home prices forecast to drop by 10 percent and 5 percent, respectively, in the year to December 2019. Dubai is also expected to see prime home prices drop by 2.4 percent. Conversely, Madrid, Berlin and Paris is leading pricing forecasts, with a growth of 6 percent posited over the period. Prices in Singapore and New York City are meanwhile expected to hold steady from last year’s prices. <a href="http://property-report.com/detail/-/blogs/thailand-s-hi-so-crowd-keeps-paying-for-ultra-luxury-hom-7" target="_blank">More: Thailand’s 'hi-so' crowd keeps paying for ultra-luxury homes</a> “Luxury house prices are now a distinct asset class, a safe asset viewed by the wealthy as a viable alternative to government bonds. However, luxury housing has become more homogenised over the last decade which has led to greater synchronicity when it comes to market cycles,” Knight Frank analysts wrote. “Local policy interventions and economic shifts have the capacity to disrupt these ties but broader macro themes from the rising cost of finance to wealth creation, not to mention the desire to have a foothold in some of the world’s most transparent and prestigious neighbourhoods, will keep them in check.” As recipients of new macro-prudential measures in 2018, markets like Hong Kong, Singapore, Vancouver and New Zealand are expected to slip down the rankings, the consultancy added.

Luxury home price growth to decelerate worldwide in 2019

<img alt="Skyline of former Myanmar capital Yangon with Shwedagon Pagoda and hot air balloons" src="/documents/10204/0/shutterstock_356329598-compressor.jpg/698f6d36-04fa-4f9a-bdf8-fdbf93ecfeea?t=1550222798254" style="width: 1007px; height: 667px;" />The Myanmar government’s ambitious venture with private developers to build a smart city near Yangon’s ring road is being fast-tracked. The Ministry of Construction, in tandem with Alliance Star Company, will reportedly begin development of the USD2-billion Eco Green City project this year. A final agreement on the project will be signed by the end of February, Deputy Construction Minister U Kyaw Lin revealed to the <a href="https://www.mmtimes.com/news/eco-green-city-commence-year-end.html" target="_blank">Myanmar Times</a>. Set for completion by 2029, Eco Green City sets out to achieve a stated aim of the Yangon Master Plan: the creation of an urban hub with low-cost housing and rental homes by 2040. The project, situated at the periphery of Yangon near the future site of the Hanthawaddy International Airport, is one of four developments eyed by the Urban and Housing Development Department as joint ventures with the private sector. <a href="http://property-report.com/detail/-/blogs/myanmar-s-failed-property-boom-what-really-happe-10" target="_blank">More: What really happened with Myanmar’s failed property boom?</a> Although landscaping and construction of the main office building in Eco Green City has already begun, the department has yet to submit project details to the Myanmar Investment Commission (MIC), said Daw Moe Thida, deputy director at the Urban and Housing Development Department. According to Minister of Construction U Han Zaw, the project must be developed “in compliance with the rules and regulations,” the Times noted. The ministry is formulating a detailed plan of the project with estimates on the value of the project's benefits to the state. Eco Green City has been envisioned to yield the equivalent of 4,000 low-cost housing units or about 3,000 affordable housing units on 200 acres of land, U Kyaw Lin revealed to the Times. Implementation of the project will take place across three phases, covering 667.8 acres in the first and 785.32 acres in the second.

There's a $2bn 'green' city rising in Myanmar

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Luxury home price growth to decelerate worldwide in 2019

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<img alt="FredAnzic/Shutterstock" src="/documents/10204/0/china-investment-2018-lead-image-compressor.jpg/8d0d6c55-9a35-498b-8f18-dab5689d5064?t=1549342147179" style="width: 1400px; height: 640px;" />Julius Lee ponders just how much his house has appreciated in the 12 years since he bought it. The 37-year-old electrical engineer bought his two-bedroom apartment in his home town of Dandong, bordering North Korea, for RMB320,000 (USD46,400). It is now worth about RMB600,000.  “The price has doubled so far,” said Julius. But that is nothing compared to the sort of gains other homeowners have made since Dandong was swept up in China’s housing boom. “My property would be considered growing slower than average [in Dandong]. For some other properties the price has increased a lot,” he said. The unit price of his property is currently RMB5,000 per square meter. The others to which he is referring lie further west on the route to North Korea where properties fetch around RMB8,000 yuan per square meter. Dandong, a city less travelled among foreigners, has been boosted by a thaw in diplomatic relations between North Korea and the rest of the world, and follows tireless efforts by Beijing to rev-up its economy with big real estate projects – with mixed results. <a href="http://property-report.com/detail/-/blogs/a-little-known-chinese-border-town-profits-from-the-north-korea-deten-6" target="_blank">More: A little-known Chinese border town profits from the North Korea détente</a> However, although Dandong’s blossoming should be a vindication of Beijing’s advances to breathe life into stagnant cities, its booming housing market reflects the headache second-tier cities have posed amid efforts to cool the industry. Since 2016, Beijing has made a concerted effort to rein in its real estate industry amid worryingly high property prices. On average, house prices in China have been growing nearly twice as fast as national income over the past decade, buoyed by a rising population and economic growth. In 2016, the government decided enough was enough. Average home prices in 100 major cities in China rose 16.6 percent in September that year, compared with the year before. The government rolled out a raft of cooling measures. One of these was to require some first-time buyers to put down a 40 percent down payment, as opposed to 35 percent. Certain second-time buyers were made to pay a minimum 70 percent, compared with 50 percent before. <a href="http://property-report.com/detail/-/blogs/how-the-trade-war-will-alter-the-global-economy-and-chinese-property-mark-1" target="_blank">More: How the trade war will alter the global economy and Chinese property market</a> Wang Menghui, minister of housing and urban-rural development, told reporters towards the end of 2017 that authorities will keep anti-speculative, city-specific measures consistent and will not loosen controls against speculation. "The real estate market must stick to the idea that 'homes are for people to live in, not for speculation'," he said. While some major cities such as Beijing and Shanghai have shown signs of a slowdown, second-tier cities have been going strong. The dwindling hostility on the Korean peninsula prompted investors to snap up properties in Liaoning, Hunchun and Jilin provinces. The result of this was seen in May, when China's home prices recorded their fastest growth in nearly a year. The figures highlighted that smaller cities still rely on real estate for growth. <div class="pull-quotes-container">A cat and mouse game is in play as authorities look to keep markets cool in one cluster of cities only to find people funnelling their money elsewhere where regulations have yet to be tightened</div> Posting a statement through its official WeChat account, Dandong Municipal Government said in May that property buyers without local household registration would not be able to resell newly-built property in the city's New District until two years after purchase. Yet while it may take some time before Dandong is brought under control, the measures are taking effect in other second-tier cities. Hainan is China’s southernmost province and is popular for its subtropical climate and clean air – a treasured commodity in smoggy China. It is known as ‘China’s Hawaii’. In March, new home prices in Haikou, the capital city of the island, rose 2.1 percent from the previous month – an increase surpassing any other Chinese city, Beijing and Shanghai included. <img alt="Hainan Island, known as the Hawaii of China, is another secondary market that is witnessing house price rises and an upsurge of interest from investors. Sergey Filinin/Shutterstock" src="/documents/10204/0/china-investment-2018-4-compressor.jpg/a09c1e89-0445-41fa-be78-1c2a90733a6b?t=1549342728688" /> “The surge in Hainan’s property prices has been fuelled by market speculators. The province probably has more property investors than elsewhere,” said Yan Yuejin, director of the E-house China R&D Institute, a market intelligence firm based in Shanghai. But following measures introduced in April, Hainan has been made to fall in line. Chen Gaige, a real estate analyst specializing in Hainan, told Chinese media that the crackdown is having a noticeable cooling effect. "Prior to the regulations, developers could obtain their pre-sale permit as building tops were being sealed, but now some of them have had to wait three months after construction was completed, yet still haven’t got one," Chen said. "Both the purchase and supply ends have been effectively controlled," Chen said, noting many developers are also taking a wait-and-see attitude toward the local market. In the eastern coastal city of Xiamen, Fujian Province, transactions dipped by 28.63 percent during the first half of 2018 compared to the year before. Further dips are expected in other cities where further regulation comes into effect. At the start of August, Shenyang in northeast China's Liaoning Province expanded restrictions on land related to commercial property purchases. <img alt="Cooling measures and local regulations, encouraged by the Chinese government, have affected investor sentiment in previously hot destinations such as Shenyang. aphotostory/Shutterstock" src="/documents/10204/0/china-investment-2018-3-compressor.jpg/6d3bf478-db45-422a-a095-21c2dea9e8ef?t=1549342345427" /> Dandong resident Julius said he has detected trepidation among investor friends who were bullish some years ago. One university friend has amassed more than 10 properties in Shenyang since he began investing in real estate in 2009. “He saw that the price would go up. Every day he has earned a lot of money from his investments. He started investing when the prices were going up.” “I met him before and he was very confident in 2010 but I think now he’s not quite as bullish.” In many of the big cities measures to taper demand appear to be working but buyers are scrambling to get a bargain. Real estate services company Jones Lang LaSalle said in a second quarter update that price caps remained in place for new launches in Shanghai and buyers continued to be actively trying to acquire units at below market prices. In Beijing developers have been offering more competitive prices in a bid to increase sales. <img alt="Although the centre of Beijing remains one of China's prime spots for investment, there have been signs that the market is easing off in the country's capital. ESB Professional/Shutterstock" src="/documents/10204/0/china-investment-2018-2-compressor.jpg/ead85eb3-5e92-4c63-86c3-987eb28b36b1?t=1549342526840" /> “The tight policy stance is unlikely to be relaxed in the short term in China as governments aim to curb speculation and stabilize the housing market. Tight financing conditions and ongoing deleveraging exercises by some developers may see more new projects launched in a bid to ease cash flow pressures,” the report said. Jack Xiong, the China director of Savills research and consultancy, said: “The first-hand, mass-market residential market received ample supply during [the second quarter], the majority of which was joint ownership and price-capped housing. Authorities continued to enforce strict regulations to stabilise average housing prices in the market.” Experts predict that Hong Kong’s prices are unlikely to rise by much in the second half of 2018. Carol Wu, head of China and Hong Kong research at DBS Bank (Hong Kong), said slower annual growth rates are likely to be the norm for the coming decade. “Our prediction of about 5 to 10 percent price gain [in 2018] has already been reached,” said Wu. “Hong Kong’s home price growth will decelerate, rising at no more than 2 percent a year on average through 2030, a rate similar to the inflation rate, given the growth in GDP per capita does not rise beyond expectations.” <a href="http://property-report.com/detail/-/blogs/winners-circle-propertyguru-asia-property-awards-china-2018" target="_blank">More: Winners of the PropertyGuru Asia Property Awards (China) 2018</a> The disparity between the patterns in property prices between big and smaller cities reflects China’s mountainous challenge in putting the brakes on an industry that has been growing wildly for so long. A cat and mouse game is in play as authorities look to keep markets cool in one cluster of cities only to find people funnelling their money elsewhere where regulations have yet to be tightened. This spread of money has brought prosperity to towns and cities largely forgotten and ignored, with new sources of labour. More than 20 second-tier cities hope to attract some of the growing number of educated workers leaving big cities due to the high cost of living. For the likes of Julius, however, all this money sloshing around in property is dizzying and unpredictable. Though he has considered buying a home for investment in the past, he feels he’s better off sticking to what he knows – electrical engineering. “There’s just too much risk in property at the moment.” As cooling measures take hold across the Middle Kingdom it is likely he won’t be the only investor experiencing a certain degree of chill. This article originally appeared in <a href="https://www.magzter.com/TH/PropertyGuru-International-(Thailand)-Co.,Ltd/Property-Report/Business/316198" target="_blank">Issue No. 150</a> of PropertyGuru Property Report Magazine

A tale of two tiers in China

<img alt="While Singapore has made some progress on LGBT issues in recent years, the country’s reputation for conservatism is echoed in archaic rules governing the purchase of the island’s HDB public housing. lazyllama/Shutterstock" src="/documents/10204/0/dispatch+151+lead.jpg/0ef046a4-eb70-4963-adcc-88c55d14ee74?t=1547037355520" style="width: 1006px; height: 667px;" />Singapore can be excused for taking pride in its breakneck transformation from sleepy seaside port to fourth on the International Monetary Fund’s list of richest nations. This 50-year evolution can be partly attributed to the rigid planning that has, on the one hand, fostered the world’s most successful public housing program, and on the other, earned it the reputation of being the governmental equivalent of an overprotective parent.  Often called “The Nanny State,” the island nation can be seen as strict with its 5.6 million children. Rules govern what Singaporeans say (speaking against the prime minister and Christianity are both illegal) and how they behave (famously, there are fines for chewing gum, littering, graffiti, spitting, and jaywalking). The upshot is a gross national income of USD78,293 (the second highest globally), and a public program housing 80 percent of the population, 90 percent of whom own their own Housing and Development Board (HDB) flat.  However, not all groups are included in the math of Singapore’s success. One such group? Singapore’s Lesbian, Gay, Bi-Sexual, and Transgender (LGBT) community.  Singapore currently has the world’s second highest rate of home ownership, largely due to a generous system of grants and subsidies the HDB provides its citizens. These, however, come with restrictive conditions. Married heterosexual couples, who can apply for housing grants at age 21, enjoy the biggest advantage; whilst unmarried couples, singles, and gay couples are restricted to applying under the Single Singapore Citizen Scheme or Joint Singles Scheme, both of which require applicants to be at least 35.  These restrictions may not be specifically targeted at LGBT families, but Indulekshmi Rajeswari, a lawyer, LGBT activist, and author of Same But Different: Legal Guidebook for LGBT Couples and Families in Singapore, points out the government has stated openly on several occasions that they are meant to “encourage families.” As same-sex marriage is not recognised, “LGBT people are cut out of this definition. Only those in a recognised family unit—primarily married heterosexual couples—are normally allowed to buy a HDB apartment.”  <a href="http://www.property-report.com/detail/-/blogs/5-best-southeast-asian-cities-for-lgbt-to-buy-prope-15" target="_blank">More: 5 best Southeast Asian cities for LGBT property seekers</a> Ann, a new homeowner who identifies as lesbian, felt pressured to buy private property as she didn’t feel secure waiting eight years to be eligible for an HDB flat. She ponders, “What if I waited until I reached 35, and they say, ‘no, the age is now 45’?” Buying a private flat meant a big mark-up for Ann, whose two-room condo (still three years from completion) cost USD650,000. The same sized HDB apartment would’ve cost a married couple between USD150,000-220,000. Because Ann’s partner is a foreigner, purchasing the apartment together would have resulted in a 20 percent Additional Buyers Stamp Duty. Since her income and savings weren’t enough to secure a mortgage solo, she purchased the apartment with a friend. Some in the industry feel that the limited supply of new HDB apartments, coupled with an elderly generation of homeowners reluctant to give theirs up, is locking many young Singaporeans out of the market. Currently, Singaporeans who qualify for HDB flats have to wait three years for Built-to-Order apartments to be available. “Affordability and costs of living are bigger issues than the alleged ‘LGBT segregation,’” says Wenhui Lim, director of Singapore-based firm Spark Architects. <div class="pull-quotes-container">I know a lot of LGBT couples who have chosen to move their lives elsewhere, because here it is ignored that we are humans, too</div> In fact, a large portion of non-homeowners continue to live at home. Singapore’s 2016 National Youth Council Survey reveals 97 percent of unmarried young people live with their parents.  For some in the LGBT community, though, this might not be an option.  “If your parents aren’t accepting of who you are, you get chased out of the house,” says Deveshwar Sham, a transgender activist who runs Kopitiam Brothers, a shelter and support group for transgender men. Renting poses its own problems. Legally, LGBT individuals are not protected from discrimination, meaning landlords can opt not to rent to them. Sham relates experiencing first-hand the difficulty of renting a room as a transgender man. “Renting was an issue, because as I was transitioning, I was looking more male, but my ID still showed I was female. Landlords would think, ‘oh, you might be a thief or a con man.’ They don’t discriminate in front of us, or publicly, but they’ll say they already have a tenant,” he relates. <a href="http://www.property-report.com/detail/-/blogs/alternative-short-term-rentals-gaining-popularity-in-singapore" target="_blank">More: Alternative short-term rentals gaining popularity in Singapore</a> Since Sham transitioned, his ID now states he is male, making his later marriage to his wife legitimate, and easily qualifying him for the HDB subsidies. Transitioning has drastically improved his life. “If I’d not transitioned, I would have considered traveling out of Singapore,” he admits, “but now that I have, I feel comfortable in my country, and don’t have my rights stripped off of me.”  As with some of its more conservative neighbours in Asia, Singapore’s stance towards its LGBT residents could be costing it talent, and money. China, for instance, represents the world’s third largest “pink economy”, with 90 million LGBT Chinese with a total spending power of USD928 billion, according to the World Property Journal. When it comes to where to invest those dollars, they’re more likely to buy property in such foreign markets more accepting of their lifestyle as Bangkok, Phuket, and Manila.  Singapore’s policies not only cost foreign investment, but there’s a danger LGBT Singaporeans will emigrate to more tolerant countries when they’re ready to settle down and buy property.  Ann, for one, hasn’t ruled out leaving Singapore one day. “Even though I purchased this property, it may not be somewhere I want to be for life. If the value increases, I may want to sell it off and move overseas,” she says. “I know a lot of LGBT couples who have chosen to move their lives elsewhere, because here it is ignored that we are humans, too.” This article originally appeared in <a href="https://www.magzter.com/TH/PropertyGuru-International-(Thailand)-Co.,Ltd/Property-Report/Business/" target="_blank">Issue No. 151</a> of PropertyGuru Property Report Magazine

Same-sex couples cast adrift in Singapore's property market

<img alt="The old imperial section of Xi'an stands in stark contrast to its modern skyline. ebenart/Shutterstock" src="/documents/10204/0/shutterstock_1197873559-compressor.jpg/ebc9f684-3259-4676-96df-7a3bd34db066?t=1547526169237" style="width: 1005px; height: 667px;" />Mainstream housing prices in the tier 2 Chinese city of Xi’An leapt 20 percent in the year through the third quarter of 2018, the latest update of Knight Frank’s Global Residential Cities Index showed. The Shaanxi provincial capital bested property price gains in 149 cities around the world, including second placer Ahmedabad, which registered an annual growth of 19.6 percent, and third placer Budapest (19 percent). It was overall a strong third quarter for Asia-Pacific, the best-performing region in the world with a 6.2 percent gain during the period. Other Indian cities appear in the top 10, with prices in Hyderabad having gained 18.6 percent (fourth place); Bengaluru, 18.3 percent (fifth); and Surat, 13.2 percent (ninth). Hong Kong housing prices grew 15.8 percent, enough for a seventh-place ranking globally. <a href="http://www.property-report.com/detail/-/blogs/a-little-known-chinese-border-town-profits-from-the-north-korea-deten-6" target="_blank">More: A little-known Chinese border town profits from the North Korea détente</a> Headwinds threaten this period of growth, however. “While the Asia-Pacific region continues to lead the world in residential price growth this quarter, its pole position is looking more at risk following the introduction of cooling measures, rising interest rates, and waning buyer sentiment," said Nicholas Holt, head of research for Knight Frank Asia Pacific. "A combination of these factors will likely lead to slowing growth momentum as we head into 2019." Growing evidence of this weakening may already be seen in Australia, where Sydney and Melbourne saw prices dwindle 4.4 percent and 1.5 percent, respectively. Hobart remained an outlier, standing at eleventh place worldwide with an annual growth of 13 percent.

Second-tier Chinese city records highest housing price growth in the world

<img alt="" src="/documents/10204/0/asia%27s+best+resort+residences+for+web+148.jpg/7cd40863-5fcd-498f-aea9-8687738d6b9d?t=1546887917837" style="width: 1400px; height: 640px;" /> Investors are spoilt for choice when it comes to purchasing a slice of paradise in Asia. From the coral-rich coasts to snow-peaked heights, the region is home to an ever-growing array of luxury resort residences. Every year the net widens to accommodate the latest emerging locations and trailblazing hospitality brands—and 2018 is no exception. The titans that have long dominated markets in Thailand, Indonesia and Hokkaido are now increasingly competing with upstart boutique brands, while up-and-coming destinations are welcoming global names for the first time. Aside from remarkable locations and world-class amenities, many properties now stand out as much for their personalised services and daring designs, as they do for their eco-credentials. The promise of strong yields and a reliable rental programme are an obvious attraction, too. Although the discoveries of unspoilt Edens are few and far between nowadays, buyers with an intrepid streak can still find relative bargains. For those who want to play it safe, however, there’s the security of opting in with a world-renowned hospitality brand. Indeed, the difficulty is no longer finding a resort property—it is choosing the right one. <h4>1. Dusit Thani Sri Lanka, The Beachfront</h4> <img alt="" src="/documents/10204/0/asia%27s+best+resort+residences+for+web+148+6.jpg/c3664091-0c19-4f2a-9d03-3683c89f10c8?t=1546887975451" /> Location: Balapitiya, Sri Lanka Opening: 2019 Total units: 162 Price: From USD244,000 Why buy: Guaranteed annual returns of six percent for five years The iconic Thai hospitality brand has rapidly expanded beyond its homeland’s borders in recent years, launching a luxury resort in the Maldives, high-end hotel in Cairo, and a residential development in Davao. Possibly Dusit Thani’s most ambitious manoeuvre to date though is located 80 kilometres south of Colombo in Sri Lanka. The residential component in a sprawling multi-phase integrated development near the famed west coast beaches of Bentota and Hikkaduwa, the fully-furnished luxury one- and two-bedroom apartments are housed in a pair of towers providing residents with enviable views of the Laccadive Sea. If they tire of gazing out at the great blue from the comfort of their balcony, homeowners can instead while the hours away at the beachside or rooftop bars, cool off in one of the many swimming pools, or retreat to Dusit Thani’s world-renowned Devarana Spa. Phase two of The Beachfront will further cement the resort’s five-star status with a promenade hosting upmarket eateries, high-end retail outlets and landscaped gardens, as well as exclusive champagne and whisky lounges. <a href="http://www.property-report.com/detail/-/blogs/are-foreigners-missing-out-on-investing-in-sri-lankan-real-estate-" target="_blank">More: Are foreigners missing out on investing in Sri Lankan real estate?</a> <h4>2. The Ginto Residences</h4> <img alt="" src="/documents/10204/0/asia%27s+best+resort+residences+for+web+148+2.jpg/8d503e5a-6447-48d8-83fb-829497d05612?t=1546888025230" /> Location: Niseko, Japan Opening: 2019 Total units: 31 Price: USD1,200-USD1,800 per sqm Why buy: Direct high-speed rail link to Tokyo slated for completion in the next few years While Niseko has been on the minds of savvy second-homers for some time, the Japanese debut of Pavilions Hotels & Resorts is still bound to turn heads. Introducing its unique take on boutique hospitality to the slopes of Hokkaido, The Pavilions Niseko will boast a five-star resort and a collection of private villas, The Ginto Residences, nestled in the picturesque pinewood forests of Ginto Hirafu. But how does the Bali-born resort brand plan to compete with the raft of five-star hotels and luxury homes already settled around in the snow? The huge 1,000 square-metre (minimum) plots offering customised villa designs, exclusive ski lift access and proximity to fashionable Ginto Village should do the trick. Après ski naturally influences the facilities at the resort to which residents will have unlimited access. These include indoor and outdoor onsen pools, a state-of-the-art fitness and yoga centre, and a fine-dining restaurant. It is the array of outdoor activities—world-class skiing, hiking, mountain biking and river rafting to name a few—that is however most likely to lure prospective buyers to the powdered paradise. <a href="http://www.property-report.com/detail/-/blogs/winter-sports-hubs-halt-their-sli-3" target="_blank">More: Winter sports hubs halt their slide</a> <h4>3. Selong Selo Residences</h4> <img alt="" src="/documents/10204/0/asia%27s-best-resort-residences-for-web-148-7-compressor.jpg/1f8be308-fe53-42b4-a681-f78cb82cf875?t=1546888097907" /> Location: Lombok, Indonesia Opening: 2019 Total units: 65 Price: USD225,000-1m Why buy: It aims to be the first carbon-negative development in Asia “Did you know [insert up-and-coming island destination] is the next Bali?” The phrase has been bandied about since the Island of the Gods peaked a decade or so ago. Neighbouring Lombok is the latest island to wear the label—and with good reason. Its untarnished beaches, peaceful surfing spots and natural attractions have made it a sanctuary for Indonesia’s crowd-weary tourists and investors alike. Situated on the increasingly vibrant southern tip of the island, Selong Selo Residences’ appeal is obvious. Poised 200 metres above sea level, the development proffers panoramic views of Selong Belanak Bay and vast green expanses in every direction. All owner-occupants enjoy access to the exclusive facilities, most notably the 23-metre infinity swimming pool, tennis court, and spa. The Aura Lounge & Bar—a hilltop gathering place is surrounded by a bucolic 1,000-square-metre garden blooming with white foxtails and coconut palms—is the sort of setting that most resorts can only manage in CGI brochures. Investors can either opt for the ‘Kayu Villa,’ from Selong Selo’s banner collection of model homes, or partner with their preferred architect to create for a bespoke concept. <a href="http://property-report.com/detail/-/blogs/bangkok-vs-jakarta-where-should-you-inves-4" target="_blank">More: Comparing two of Southeast Asia's biggest property markets</a> <h4>4. The Ocean Estates</h4> <img alt="" src="/documents/10204/0/asia%27s+best+resort+residences+for+web+148+8.jpg/e3f27645-9869-42a8-9a04-2e3a6f5810b5?t=1546888169147" /> Location: Danang, Vietnam Total units: 33 Price: From USD760,000 Why buy: Developed and operated by Vietnam’s largest foreign real estate developer Danang is another of those destinations whose fortunes are frequently compared with Bali and Phuket. Understandably, Vietnam’s premier resort spot is currently one of the most-watched markets in Asia, and The Ocean Estates is at the top-end of the list for those willing to take the risk (the residential market only recently recovered from a long-term slump). A stylish illustration of what can be achieved with plenty of time, space and investment, as well as early-mover advantage, The Ocean Estates is part of the mammoth 260-hectare Ocean Resort, which also includes The Ocean Apartments, beach club, restaurant and the Greg Norman-designed 18-hole (soon to be 36-hole) Danang Golf Club. The well-appointed three-, four- and five-bedroom villas, which are laid out to create an intimate, landscaped community, don’t try too hard. The emphasis here is on high-spec simplicity with owners encouraged to personalise their properties. And for owners intending to use their investment as a weekend bolthole, the steady increase in direct international flights to the nearby airport means Danang is much more accessible than it was just 18 months ago. <a href="http://www.property-report.com/detail/-/blogs/rising-dragon-boom-times-continue-in-vietnam-real-esta-3" target="_blank">More: Boom times continue in Vietnam real estate</a> <h4>5. Queens Residences Q1</h4> <img alt="" src="/documents/10204/0/asia%27s-best-resort-residences-for-web-148-4-compressor+%281%29.jpg/c3b18fbd-350c-4f9d-8055-d979270b65f0?t=1546888354145" /> Location: Penang, Malaysia Opening: 2021 Total units: 500 Price: MYR787,900-1,893,500 (USD201,000-USD484,000) Why buy: Ideal family environment with guarded community, three-tier security system and onsite internal school For investors searching for the perks of a resort lifestyle with the conveniences of city living, Queens Residences Q1 may provide the answer. Rising high above Bayan Bay on Penang’s eastern shoreline, the first phase of the integrated Queens Waterfront project will comprise 500 luxury residential units in a 21-storey nautical-inspired tower. Owners will have access to a generous array of entertainment amenities and fast-food and fine-dining options within the development, as well as the international-standard sports centre. The popular Queensbay Mall is also only a stone’s throw away. The real x-factor however is direct access to QW Marina and the show stopping top-deck glass infinity pool. <a href="http://property-report.com/detail/-/blogs/is-the-end-of-the-great-malaysian-property-malaise-at-han-5" target="_blank">More: Is the end of the great Malaysian property malaise at hand?</a> <h4>6. Twinpalms Residences MontAzure</h4> <img alt="" src="/documents/10204/0/asia%27s-best-resort-residences-for-web-148-5-compressor.jpg/76719d42-fc77-4fce-b153-0387303cb413?t=1546888402506" /> Location: Phuket, Thailand Total units: 75 Price: From THB15.5m (USD490,000) Why buy: A freehold and secure leasehold ownership structure provides potential for strong capital gains in the future supported by hotel-based rental yields Kamala Beach’s highly anticipated mixed-use community offers exactly what the name implies: jungle-clad mountains and cerulean seas. Built into one of Phuket’s most dramatic backdrops neighbouring the coveted Millionaires Mile, upon completion the THB2.2 billion (USD70 million) project will feature a roll call of upscale amenities including, a 200-room InterContinental Hotel, an exclusive senior living village and the already-kicking Café del Mar. The main drawcard of course is the Residences. A series of low-rise clusters managed and operated by legendary Phuket hotel brand Twinpalms, the first phase of the 178-acre development comprises one- and two-bedroom units ranging from 70 to 400 square metres, as well as oversized penthouses with panoramic views of the Andaman Sea.  The natural tones, cascading greenery and intricate detailing that defines the Residences comes courtesy of Martin Palleros and his team at Tierra Design, who were also the creative minds behind the flagship Twinpalms Hotel over on Surin Beach. <a href="http://property-report.com/detail/-/blogs/not-just-a-pretty-place-inside-former-miss-universe-natalie-glebova-s-bangkok-ho-8" target="_blank">More: Inside a former Miss Universe's Bangkok home</a> <h4>7. Six Sense Residences Fiji</h4> <img alt="" src="/documents/10204/0/asia%27s-best-resort-residences-for-web-148-3-compressor.jpg/c275d420-f17b-4929-a38e-054d28f33ad1?t=1546888440372" /> Location: Fiji Total units: 60 Price: On request Why buy: Rental option with unlimited occupant usage Okay, Fiji is not technically (or in any way) in Asia, but it’s close enough for the outstanding Six Senses Fiji to receive an honourable mention. It would be an understatement to say that the latest addition to the illustrious hospitality brand’s portfolio has piqued the interest of both bucket-listers and affluent investors. Located on the volcanic island of Malolo, the property does barefoot luxury by the bucket load. The two- to five-bedroom pool villas all provide occupants with dazzling vistas of either the beach, ocean or marina—where owners can moor their private vessels—all made possible by the indoor-outdoor design philosophy that runs through the resort. Kiwi architect Richard Press, who has fashioned several Six Senses resorts across the globe, opts for pared back approach echoing the aesthetics of Fijian fishing villages—albeit with a touch more elegance.  Owners can expect the usual Six Senses onsite treatment, ranging from The Wellness Village to top-notch restaurants to complimentary nanny services. And for those owners who don’t have their yacht to hand, the resort will arrange a helicopter transfer to and from Nadi International Airport. This article originally appeared in <a href="https://www.magzter.com/TH/PropertyGuru-International-(Thailand)-Co.,Ltd/Property-Report/Business/295140" target="_blank">Issue No. 148</a> of PropertyGuru Property Report Magazine

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