<p><img alt="The Twinpalms Residences MontAzure will be one of the many components of the 454-rai masterplanned community on Phuket’s west coast" src="/documents/10204/0/twinpalms-residences-montazure-beachfront-compressor.jpg/be5eeb71-1b41-4476-8328-0360d56b5e52?t=1516269339762" style="width: 740px; height: 533px;" /></p> <p>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.&nbsp;</p> <p>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.&nbsp;</p> <p>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.&nbsp;</p> <p>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.&nbsp;</p> <p>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.</p> <p><img alt="Vertical communities such as OXIC in China’s Xi’an 'create synergy between different uses and foster dynamic neighbourhoods'" src="/documents/10204/0/OXIC02+resized.jpg/5cea92bf-25c0-44a0-b023-66db0367328f?t=1516269199311" style="width: 740px; height: 433px;" /></p> <p>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.&nbsp;&nbsp;</p> <p>“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.</p> <div class="pull-quotes-container">It’s not only in urban areas where ambitious mixed-use projects are breaking the mould</div> &nbsp; <p>“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.”&nbsp;</p> <p>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.&nbsp;</p> <p><a href="http://property-report.com/detail/-/blogs/what-awaits-thailand-s-residential-market-in-20-5" target="_blank"><strong>More:&nbsp;What awaits Thailand's residential market in 2018</strong></a></p> <p>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.</p> <p>"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.</p> <p>"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."</p> <p><a href="http://property-report.com/detail/-/blogs/thailand-real-estate-relentless-expensive-and-highly-desira-13" target="_blank"><strong>More:&nbsp;Thailand real estate is relentless, expensive, and highly desirable</strong></a></p> <p>While mixed-use communities across the region have emerged as the new development paradigm, the trend has its roots in ancient history.&nbsp;</p> <p>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.&nbsp;</p> <p>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.&nbsp;</p> <p><img alt="One Bangkok is set to rejuvenate an area of Bangkok that has been lying dormant since the 2011 closure of Suan Lum night market" src="/documents/10204/0/One-Bangkok-compressor.jpg/1432baeb-568d-476d-88eb-e6f8dfc3370f?t=1516269449051" style="width: 740px; height: 528px;" /></p> <p>“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.&nbsp;</p> <p>“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.”</p> <p>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.&nbsp;</p> <p><a href="http://property-report.com/detail/-/blogs/how-to-succeed-in-mixed-use-developments-real-estate-leaders-share-secre-4" target="_blank"><strong>More:&nbsp;3 real estate leaders share secrets to successful mixed-use development</strong></a></p> <p>“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.”</p> <p>Youth consumer behaviour will also dictate the multi-functionality of urban space, a trend that will increasingly enter the mixed-use urban space.&nbsp;</p> <p>“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.”</p> <p>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.</p> <h3>Reimagining mixed-use communities on Phuket</h3> <p>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.</p> <p><em><strong>For more information on MontAzure, visit <a href="http://www.montazure.com/page/">MontAzure.com</a></strong></em></p>
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<p><img alt="Aerial view of Hong Kong skyscrapers at night from the rooftop bar of The Hennessy in Wan Chai. Benny Marty/Shutterstock" src="/documents/10204/0/shutterstock_543483505-compressor.jpg/5d9fff7d-fdae-42b0-b4c1-2aff22daf074?t=1526551670546" style="width: 1000px; height: 667px;" />The US, let alone New York City,&nbsp;still has the most number of billionaires in the world, but one Asian city is coming for the stateside megalopolis' status.</p> <p>Hong Kong now has 93 billionaires to New York City’s 103, according to the latest Billionaire Census by <a href="https://www.wealthx.com" target="_blank">Wealth-X</a>.</p> <p>New York City only added one billionaire year-on-year in 2017, compared with 21 in Hong Kong, the most addition of billionaires to any major city. &nbsp;</p> <p>“The robust expansion of Hong Kong’s billionaire population,” Wealth-X said in its report, “was driven by a strong domestic economic performance, the upturn in global financial markets (reflecting the region’s status as one of the world’s largest financial centers) and enhanced trade and investment links with mainland China.”</p> <p>It marks a rapid turnaround from 2016 when a falling stock market resulted in a major slash in billionaire count for the Chinese SAR.</p> <p><a href="http://property-report.com/detail/-/blogs/what-homes-you-can-get-for-your-money-in-bangkok-and-hong-ko-1" target="_blank"><strong>More:&nbsp;Should you invest in luxury Bangkok digs or a basic Hong Kong apartment?</strong></a></p> <p>The US now has 680 out of the 2,754 billionaires around the world. This puts it above second-placer China with 338.</p> <p>Even though America dominated the billionaire conversation — the country has 34 percent of total billionaire wealth — six of the top 10 billionaire countries recorded faster growth than the US in their respective billionaire populations.</p> <p>They were led by mainland China and India, among others, with an upswing in their billionaire populaces of 35.7 percent and 29.2 percent, respectively. Hong Kong, considered as a country, registered a 29.2 percent increase. US billionaire count meanwhile recorded a growth of 9.7 percent.</p> <p>Asia’s billionaire populace now stands at 784 individuals, surpassing North America with 727 for the first time.</p> <p>Most of the world’s billionaires made their primary industry focus on the finance, banking and investment sector (413 billionaires), followed closely by industrial conglomerates (380 billionaires).</p> <p>Real estate was the third-largest industry sector with 173 billionaires, “underlining the wealth creation opportunities generated by the global trend towards urbanization – not only across the emerging world but also in most major cities in North America, Europe and Australasia,” the report noted.</p> <p>Total billionaire wealth around the world rose 24 percent to USD9.2 trillion.</p> <p><em>Top 9 billionaire cities, Wealth-X Billionaire Census 2018:</em></p> <p>1. New York City</p> <p>2. Hong Kong</p> <p>3. San Francisco</p> <p>4. Moscow</p> <p>5. London</p> <p>6. Beijing</p> <p>7. Singapore</p> <p>8. Dubai</p> <p>9. Mumbai and Shenzhen</p>
This Asian city will soon have more billionaires than New York
<p><img alt="Escalating land prices mean Bangkok buildings are getting higher. Image: Prasit Rodphan/Shutterstock" src="/documents/10204/0/bkk+sky.jpg/f2740619-fe8c-481f-8b10-e0138228088c?t=1526381852928" style="width: 1000px; height: 667px;" />Bangkok's property market is going from strength-to-strength, according to DDproperty’s latest Property Index.</p> <p>The Thai capital has displayed price growth with an eight-point increase from 205 to 213 in the first quarter of 2018. This growth is on the back of an improving economic outlook and an expected increase in Gross Domestic Product (GDP) this year to 4.2 percent (up 0.3 percent y-o-y), and in part due to the rising cost of developing projects in the popular but densely built-up areas in Bangkok.</p> <p>The Index has jumped by 213 percent in the last three years, fuelled by hot land prices which has meant that affordable residential developments are being pushed further from the city centre, most commonly along mass transit extension lines.</p> <p>“The sophistication of Bangkok’s property market is more apparent now than ever,” said Kamolpat Swaengkit, Country Manager for DDproperty. “As values continue to move upwards, property’s reputation as a valuable investment asset strengthens further. Developers are therefore taking note and it is no wonder that the year has welcomed joint ventures between local and foreign developers eyeing potential across the city. They have become a lot more selective on the kinds of projects they work on, with the focus on building the ‘right’ property for the location and ensuring it is suited to its target audience. We have seen a real shift in the market with this renewed attention to detail.”</p> <p><a href="http://property-report.com/detail/-/blogs/inside-thai-architects-plans-to-make-bangkok-even-green-3"><strong>More: Inside Thai architects' plans to make Bangkok greener</strong></a></p> <p>Surging land prices have also accounted for a<span style="font-family: &quot;bentonsans cond&quot;; font-size: 17px;">&nbsp;significant growth in vertical living, with&nbsp;89 percent of new supply coming&nbsp;from condominiums with hundreds of units. This building class is&nbsp;increasingly popular among developers due to better profit opportunities compared with landed houses.&nbsp; The central district&nbsp;</span>Watthana claims t<span style="font-family: &quot;bentonsans cond&quot;; font-size: 17px;">he highest&nbsp;volume of new condos, accounting for 23 percent of all condo supply, followed by Klongtoey and Ratchathewi.</span></p> <p>The report cites infrastructure as being a pivotal influence to future values, with the government continuing to inject capital into mass transit networks which opens up new corners on Bangkok. “Nowhere is this more apparent than Chatuchak, a district that continues to lead the pack. Here our Index shows growth of 10 percent since the last quarter of 2017, and an eye-watering 80 percent over the last three years. The extension of the BTS Green Line is the primary catalyst for such rapid price appreciation,” Mrs. Kamolpat explained.</p> <p>Read the full DDproperty Property Index <a href="https://www.ddproperty.com/insights/ddproperty-property-index-q1-2018-242">here</a>.</p>
Land prices reach for the sky in Bangkok
<p><img alt="Winners and Highly Commended companies of the 2018 PropertyGuru Philippines Property Awards held in Metro Manila" src="/documents/10204/0/PPA+2018_Winners+and+Highly+Commended.jpg/e29ef32b-12dd-4bb7-bc10-7243dc11f70e?t=1526368029181" style="width: 740px; height: 416px;" /></p> <p>It was another successful year for the 2018 PropertyGuru Philippines Property Awards, presented by Kohler, after the exclusive unveiling of Winners and Highly Commended companies during its gala dinner celebration on Friday (11 May 2018) at the Fairmont Makati ballroom.</p> <p>Megaworld Corporation, two-time winner of the coveted Best Developer award, defends its title for a third year in a row, becoming the first company in the Philippines to achieve this feat in the prestigious Asia Property Awards series.</p> <p>Overall the Dr Andrew Tan-led conglomerate won six golden trophies and three commendations for Megaworld, and subsidiaries Suntrust Properties, Global-Estates Resorts Inc. (GERI), and Empire East, the last collecting the Special Recognition in Corporate Social Responsibility (CSR).</p> <h3>Quality and smart townships</h3> <p>&nbsp;“Megaworld Corporation continues its winning streak as the country’s best developer for a third consecutive year by launching and developing more quality and smart townships than its peers,” said the independent judging panel.</p> <p>“To date, the company boasts more than 700 residential, commercial and mixed-use projects, including 22 townships and integrated lifestyle communities throughout the archipelago, which help distribute the wealth not only in the capital, but especially in the provinces, where its pioneering ‘iTownships’ are expected to provide growth and sustainability well into the future.”</p> <p>Among the company’s haul include two new awards for Township Development and Township Architectural Design, which went to Iloilo Business Park and Uptown Bonifacio, respectively.</p> <p><img alt="Independent judging panel chairman Dr Jaime A. Cura, PhD presents the Best Developer gong to Megaworld Corporation's SVP Kevin Tan and COO Lourdes T. Gutierrez-Alfonso" src="/documents/10204/0/PPA+2018_Head+judge+Dr+Jaime+A.+Cura+PhD+presents+Megaworld+Corporation+the+Best+Developer+award.jpg/de21b687-d824-4584-beda-b6ce5d9356cd?t=1526368132656" style="width: 740px; height: 493px;" /></p> <p>Meanwhile, The Podium Complex by SM Keppel Land Inc. swept all the eight categories it was nominated for, including Best Retail Development, Best Office Development (Manila) and Best Mixed Use Development.</p> <p>In addition, the recently revamped The Podium complex took home the prizes for Best Green and Best Universal Design Development for making the entire development accessible to visitors regardless of age, size, ability or disability.</p> <p>Regional developers also ended the evening with several awards. ArthaLand Corporation won the second highest award for Best Boutique Developer and the Special Recognition in Sustainable Development, whilst its Cebu Lavana Land Corporation subsidiary earned the Best Office Development (Cebu) crown.&nbsp;</p> <h3>Expanding the scope</h3> <p>Other notable provincial winners include three-time awardees AppleOne Mactan and Grand Land, whilst new entrants such as Grand Taipan and the tandem of Canyon Estates Incorporated/G2 Global Incorporated each won an award.</p> <p>An array of special awards was presented as well, such as the Special Recognition for Public Facility for Terminal 2 of the Mactan Cebu International Airport (MCIA) by GMR-Megawide Cebu Airport Corporation (GMCAC) consortium. The new special award expands the scope of the programme to recognise the role of the government and public entities in the built environment.</p> <p>Meanwhile, Robbie Antonio, founder and CEO of Revolution Precrafted – the fastest company to reach first unicorn startup status in Southeast Asia – was honoured as the <a href="http://www.property-report.com/detail/-/blogs/robbie-antonio-bags-2018-philippines-real-estate-personality-of-the-year-awa-3" target="_blank">2018 Philippines Real Estate Personality of the Year</a> for changing the concept of prefabricated, luxury homebuilding not only in the Philippines, but also in the biggest markets around the world.</p> <p>Antonio aims to "democratise design" by creating design-forward, limited edition precrafted homes, pavilions and other related structures, and making them more accessible to the masses through more competitive costs.</p> <p><img alt="2018 Philippines Real Estate Personality of the Year, Robbie Antonio of Revolution Precrafted, was introduced by PropertyGuru COO Jeremy Williams" src="/documents/10204/0/PPA+2018_Robbie+Antonio+with+PropertyGuru+COO+Jeremy+Williams.jpg/97e6b02f-e5a9-4460-87fc-7d5abcd84eee?t=1526368143941" style="width: 740px; height: 493px;" /></p> <p>Hari V. Krishnan, CEO, PropertyGuru Group, said: “Congratulations to the Winners and Highly Commended companies in the Philippines. PropertyGuru applauds their contributions that help transform the fast-growing local property sector and increase the profile of underserved regional destinations. We are proud of their achievements and innovations, especially in green, sustainable and township development. We are happy to be able to do our bit in educating more Filipinos about the best real estate projects available that will meet or surpass their needs and expectations.”</p> <p>Terry Blackburn, founder and managing director of the PropertyGuru Asia Property Awards, said at the gala dinner: “The Philippines continues to be a very special market for us. It is a diverse, exciting, fast-growing real estate market that is welcoming to foreign investors, and market conditions&nbsp;are&nbsp;the same today as they were&nbsp;in 2013 when we started the local awards programme. Although driven by local giants, it is the open and welcoming business environment that allows new entrants, large and small, to thrive.”</p> <h3>Increased responsibility</h3> <p>Blackburn added that business opportunities “must go hand in hand with increased responsibility to the environment, to the community and to your employees” as the Awards continue to celebrate companies with outstanding CSR and sustainable development initiatives.</p> <p>The 2018 PropertyGuru Philippines Property Awards was supported by platinum sponsor Kohler; official media broadcaster ANC, the ABS-CBN News Channel; official newspaper The Philippine STAR; official supplier TITANIA Wine Cellar Inc.; media partners Hoppler and PropertyGuru Property Report; supporting association British Chamber of Commerce in the Philippines; and official supervisor BDO Roxas Cruz Tagle and Co. led by chairman and managing partner Michael Roxas.</p> <p>The independent judging panel was led by chairman Dr Jaime A. Cura, vice-chairman of The RGV Group of Companies. Cura was joined on the judging panel by: Abelardo M. Tolentino Jr (President &amp; CEO, Aidea Philippines); Carlo Cordaro (President &amp; CEO, Atelier A); Christophe Vicic (Country Head, Jones Lang LaSalle Philippines); Cyndy Tan Jarabata (President, TAJARA Leisure &amp; Hospitality Group Inc.); Jean Jacquelyn Nathania A. de Castro (CEO, Esca Incorporated); Luis Enrique T. Mangosing (CEO, Metro Development Managers Inc.); Monique Cornelio Pronove (CEO, Pronove Tai International Property Consultants; and Ramon Fernando D. Rufino (Co-President, The Net Group, and chairman, Urban Land Institute Philippines).</p> <p><a href="http://www.property-report.com/detail/-/blogs/winners-list-2018-propertyguru-philippines-property-award-9" target="_blank"><strong>More: The Winners list of the 2018 PropertyGuru Philippines Property Awards</strong></a></p>
Diversity, sustainability, CSR celebrated at 6th PropertyGuru Philippines Property Awards
<p><img alt="Newly elected Prime Minister of Malaysia Mahathir Mohamad delivers his speech during the Pakatan Harapan meeting in Shah Alam. Aizuddin Saad/Shutterstock " src="/documents/10204/0/shutterstock_788407228-compressor.jpg/811eff04-a16a-4286-a4d5-8a3c2534936b?t=1526022804484" style="width: 1000px; height: 667px;" />Mahathir Mohamad prevailed over Prime Minister Najib Razak in the hotly contested Malaysian general elections Wednesday, a win that could undercut growing Chinese influence over the country’s infrastructure&nbsp;and property developments.</p> <p>The 92-year-old statesman&nbsp;told reporters gathered Thursday in Kuala Lumpur that he would review deals struck with mainland China under the Najib administration.&nbsp;</p> <p>Mahathir, who had served as prime minister from 1981 to 2003, marked his campaign trail with opposition to enormous&nbsp;Chinese investments filing inside the country by way of Beijing's&nbsp;Belt and Road Initiative (BRI).</p> <p>“We have no problem with [BRI], except of course we would not like to see too many warships in this area because (a) warship attracts other warships,” he said, per <a href="https://www.reuters.com/article/us-malaysia-election-china/malaysia-may-renegotiate-some-deals-with-china-mahathir-idUSKBN1IB0JZ" target="_blank">Reuters</a>.</p> <p>Chinese investment commitments flourished under the Najib rule, with Malaysia securing USD34.2 billion of BRI-related infrastructure projects, according to a Nomura report in April.</p> <p>Mahathir’s stunning win effectively caps the six-decade-long reign&nbsp;of Prime Minister Najib Razak’s Barisan Nasional&nbsp;party.</p> <p><a href="http://property-report.com/detail/-/blogs/what-the-general-elections-spell-for-chinese-investment-in-malaysian-proper-1" target="_blank"><strong>More:&nbsp;What the general elections spell for Chinese investment in Malaysian property</strong></a></p> <p>Mahathir is <a href="https://www.cnbc.com/2018/05/10/malaysia-election-may-hit-china-belt-and-road-infrastructure-projects.html" target="_blank">widely expected to renegotiate</a> the BRI deal with China Communications Construction to build the USD13-billion, 688-kilometre-long East Coast Rail Link in peninsular Malaysia.</p> <p>Another likely bone of contention is the&nbsp;vast&nbsp;private residential development&nbsp;by a Chinese developer&nbsp;in the state of Johor, a project&nbsp;that Mahathir previously deemed unaffordable for ordinary Malaysians.&nbsp;</p> <p>For property onlookers however,&nbsp;Chinese investors and non-investment property buyers alike could still find Malaysian opportunities under the new government.</p> <p>“At this date so soon after the election, it seems many Chinese buyers have been infected with the general Malaysian feeling of optimism,” said Carrie Law, CEO of Juwai.com, a top Chinese property portal. “They believe that, under the new government, the country will continue to be well-managed and to benefit from strong economic growth. The new government promises stricter government oversight and more transparency.”</p> <p>Juwai.com expects Chinese investment in Malaysian property to continue rising, with acquisitions at least doubling by 2025. Chinese buyer inquiries on Malaysian property in the first three months of 2018 were 102.8 percent higher than a year before, with inquiries already soaring 121 percent year-on-year in April, Juwai.com data showed.&nbsp;</p> <p>“As long as any uncertainty persists, some Chinese buyers will hold back. But the overall package of visa, home-buying, and education policies in Malaysia remains very appealing,” she added.</p>
How Mahathir’s historic win affects Chinese interests in Malaysia
<p align="center"><img alt="" src="/documents/10204/0/PPA-2018_Winners_Artwork-compressor.jpg/3f5fd8b5-e616-47ab-b2f2-f51e3eee2bb7?t=1526057778000" style="width: 1000px; height: 704px;" /></p> <p>Megaworld Corporation won Best Developer – its third in succession – at the&nbsp;<span style="text-align: -webkit-center;">2018 gala dinner of the 6th PropertyGuru Philippines Property Awards, presented by Kohler, held</span><span style="text-align: -webkit-center;">&nbsp;on Friday (11 May 2018) at the Fairmont Makati ballroom.</span>&nbsp;</p> <p>The Dr Andrew Tan-led&nbsp;becomes&nbsp;the first company in the Philippines to win the coveted honour for three consecutive years. It earned a total of six&nbsp;golden trophies, including&nbsp;two new township honours, as well as the&nbsp;Special Recognition in Corporate Social Responsibility (CSR) for affiliate Empire East.</p> <p>&nbsp;“This award is for all the hardworking men and women&nbsp;of Megaworld Corporation and our subsidiaries," said Kevin Tan, senior vice president at Megaworld.</p> <p>SM Keppel Land Inc. made a grand slam by winning in&nbsp;eight categories – the most wins for any developer this year –&nbsp;including Best Retail Development, Best Office Development (Manila), Best Mixed Use Development and Best Green Development for the&nbsp;revamped The Podium complex in Ortigas Centre.</p> <p>Notable winners include best boutique developer&nbsp;ArthaLand Corporation, and multiple awardees&nbsp;AppleOne Mactan and Grand Land,&nbsp;and the tandem of Canyon Estates Incorporated/G2 Global Incorporated each won an award.</p> <p>Robbie Antonio, founder and CEO of Revolution Precrafted –&nbsp;the Philippines' first unicorn startup – was honoured by PropertyGuru as the Philippines Real Estate Personality of the Year. Antonio's firm has recently signed up with Megaworld Corporation to supply prefabricated&nbsp;designer construction materials for a township project.</p> <h3><strong>THE COMPLETE WINNERS AND HIGHLY COMMENDED LIST</strong></h3> <h3>6th PropertyGuru Philippines Property Awards 2018</h3> <p>&nbsp;</p> <p><strong><u>DEVELOPER AWARDS</u></strong></p> <p><strong>Best Developer</strong></p> <p>WINNER: Megaworld Corporation</p> <p><strong>Best Boutique Developer</strong></p> <p>WINNER: ArthaLand Corporation</p> <p>HIGHLY COMMENDED: Grand Land Inc.</p> <p><strong>Special Recognition in CSR</strong></p> <p>WINNER: Empire East</p> <p><strong>Special Recognition in Sustainable Development</strong></p> <p>WINNER: ArthaLand Corporation</p> <p>&nbsp;</p> <p><strong><u>DEVELOPMENT AWARDS</u></strong></p> <p><strong>Best Luxury Condo Development (Metro Manila)</strong></p> <p>WINNER: Trump Tower at Century City by Century Properties Group Inc.</p> <p>HIGHLY COMMENDED: The Albany by Megaworld Corporation</p> <p>HIGHLY COMMENDED: The Imperium at Capitol Commons by Ortigas &amp; Company</p> <p><strong>Best High End Condo Development (Metro Manila)</strong></p> <p>WINNER: Portico by Alveo Land</p> <p><strong>Best Mid End Condo Development (Metro Manila)</strong></p> <p>WINNER: The Residences at Commonwealth by Century by Century Properties Group Inc.</p> <p>HIGHLY COMMENDED: The Rochester by Empire East</p> <p><strong>Best Affordable Condo Development (Metro Manila)</strong></p> <p>WINNER: Suntrust Shanata by Suntrust Properties, Inc. of Megaworld Corporation</p> <p><strong>Best Luxury Condo Development (Cebu)</strong></p> <p>WINNER: The Residences at the Sheraton Cebu Mactan Resort by AppleOne Mactan, Inc. (AMI)</p> <p>HIGHLY COMMENDED: 38 Park Avenue by Cebu Landmasters</p> <p><strong>Best High End Condo Development (Cebu)</strong></p> <p>WINNER: Grand Residences Cebu by Grand Land Inc.</p> <p><strong>Best Affordable Condo Development (Cebu)</strong></p> <p>WINNER: Amani Grand Mactan, Cebu by Grand Land Inc.</p> <p><strong>Best Housing Development (Cebu)</strong></p> <p>WINNER: Casa Mira South by Cebu Landmasters</p> <p><strong>Best Condo Development (Resort)</strong></p> <p>WINNER: Canyon de Boracay Premiere by Canyon Estates Incorporated / G2 Global Incorporated</p> <p>HIGHLY COMMENDED: Canyon Woods Residences by Canyon Estates Incorporated / G2 Global Incorporated</p> <p><strong>Best Township Development</strong></p> <p>WINNER: Iloilo Business Park by Megaworld Corporation</p> <p><strong>Best Office Development (Manila)</strong></p> <p>WINNER: The Podium West Tower by SM Keppel Land Inc.</p> <p>HIGHLY COMMENDED: Aseana Three by D.M. Wenceslao &amp; Associates, Inc</p> <p>HIGHLY COMMENDED: The Sites Entreprise Plaza by Alveo Land</p> <p>HIGHLY COMMENDED: Unioil Tower by Exquadra, Inc.</p> <p><strong>Best Office Development (Cebu)</strong></p> <p>WINNER: Cebu Exchange by Cebu Lavana Land Corporation (a subsidiary of ArthaLand Corporation)</p> <p>HIGHLY COMMENDED: Latitude Corporate Center by Cebu Landmasters</p> <p><strong>Best BPO Office Development </strong></p> <p>WINNER: Unioil Tower by Exquadra, Inc.</p> <p>HIGHLY COMMENDED: Cebu Exchange by Cebu Lavana Land Corporation (a subsidiary of ArthaLand Corporation)</p> <p><strong>Best Retail Development </strong></p> <p>WINNER: The Podium by SM Keppel Land Inc.</p> <p><strong>Best Hotel Development </strong></p> <p>WINNER: Twin Lakes Hotel by Global-Estates Resorts Inc. by Megaworld Corporation</p> <p>HIGHLY COMMENDED: Canyon de Boracay Premiere by Canyon Estates Incorporated / G2 Global Incorporated</p> <p><strong>Best Hotel Development (Cebu)</strong></p> <p>WINNER: Dusit Princess – Grand Tower Cebu by Grand Land Inc.</p> <p>HIGHLY COMMENDED: Citadines Cebu City by Cebu Landmasters</p> <p><strong>Best Mixed Use Development</strong></p> <p>WINNER: The Podium Complex by SM Keppel Land Inc.</p> <p>&nbsp;</p> <p><strong><u>DESIGN AWARDS</u></strong></p> <p><strong>Best Luxury Condo Architectural Design</strong></p> <p>WINNER: The Imperium at Capitol Commons by Ortigas &amp; Company</p> <p>HIGHLY COMMENDED: The Residences at the Sheraton Cebu Mactan Resort by AppleOne Mactan, Inc. (AMI)</p> <p>HIGHLY COMMENDED: The Sharp Clark Hills by Posco</p> <p><strong>Best Condo Architectural Design&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </strong></p> <p>WINNER: Verano Greenhills by Grand Taipan</p> <p><strong>Best Condo Interior Design</strong></p> <p>WINNER: The Residences at the Sheraton Cebu Mactan Resort by AppleOne Mactan, Inc. (AMI)</p> <p>HIGHLY COMMENDED: Verano Greenhills by Grand Taipan</p> <p><strong>Best Township Architectural Design</strong></p> <p>WINNER: Uptown Bonifacio by Megaworld Corporation</p> <p><strong>Best Office Architectural Design</strong></p> <p>WINNER: The Podium West Tower by SM Keppel Land Inc.</p> <p>HIGHLY COMMENDED: Cebu Exchange by Cebu Lavana Land Corporation (a subsidiary of ArthaLand Corporation)</p> <p><strong>Best Retail Architectural Design</strong></p> <p>WINNER: The Podium by SM Keppel Land Inc.</p> <p>HIGHLY COMMENDED: Festive Walk Mall by Megaworld Corporation</p> <p><strong>Best Landscape Architectural Design</strong></p> <p>WINNER: The Podium Complex by SM Keppel Land Inc.</p> <p>&nbsp;</p> <p><strong><u>SPECIAL AWARDS</u></strong></p> <p><strong>Best Universal Design Development</strong></p> <p>WINNER: The Podium Complex by SM Keppel Land Inc.</p> <p><strong>Best Green Development</strong></p> <p>WINNER: The Podium Complex by SM Keppel Land Inc.</p> <p><strong>Special Recognition for Public Facility</strong></p> <p>WINNER: Terminal 2 of the Mactan Cebu International Airport (MCIA) by GMR-Megawide Cebu Airport Corporation (GMCAC)</p> <p>&nbsp;</p> <p><strong><u>BEST OF THE PHILIPPINES AWARDS</u></strong></p> <p><strong>Best Condo Development (Philippines)</strong></p> <p>WINNER: The Residences at the Sheraton Cebu Mactan Resort by AppleOne Mactan, Inc. (AMI)</p> <p>&nbsp;</p> <p><strong><u>PUBLISHER’S CHOICE</u></strong></p> <p><strong>Philippines Real Estate Personality of the Year</strong></p> <p>WINNER: Robbie Antonio, Founder &amp; CEO, Revolution Precrafted</p> <p>&nbsp;</p> <p>For more information email <a href="mailto:awards@propertyguru.com">awards@propertyguru.com</a> or visit <a href="http://www.asiapropertyawards.com/philippines-property-awards/">AsiaPropertyAwards.com/philippines-property-awards/</a></p>
The Winners list: 2018 PropertyGuru Philippines Property Awards

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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    <p><img alt="" src="/documents/10204/0/phnom+penh+dispatch+146+lead.jpg/23f4c9d7-1a8e-498a-a808-49f22a82dffa?t=1527158461036" style="width: 1400px; height: 640px;" />In Phnom Penh, the sight and sound of construction often seem inescapable. As investors and developers continue to pour money into retail, residential and commercial complexes, the din of drilling, clanging and sawing serves as a reminder of the city’s unrelenting building boom.</p> <p>Recent years have seen much of the money flow into high-end condominium towers, which have raised the city’s skyline and put thousands of units on the market.</p> <p>But many experts believe developers and speculators may have got ahead of themselves.</p> <p>There are currently 110 condo projects both finished and ongoing in Phnom Penh, with 37,570 units slated to come online by 2020, according to a 2017 report by real estate company Century 21. Since 2016, however, demand for new condos has slowed down significantly.</p> <p>The report notes that only 13 percent of 13,300 new units were sold in a presale launch during the first half of 2016, compared with year-on-year sales of 18 percent in 2015 and 31 percent in 2014.</p> <p>Adding to the anguish was the announcement in a CBRE Cambodia mid-year report that there was just one new launch in Q2 2017.</p> <p>“Whilst there has been little fluctuation in sales prices for condominiums, some developers have started to employ increasingly commercial marketing strategies, including discounts on quoting sales prices of between 2 percent and 10 percent,” CBRE states in its analysis.</p> <div class="pull-quotes-container">There’s going to be a lot of units coming online this year and that’s when the big glut will hit the market. There simply won’t be enough people to rent them</div> <p>There is widespread concern about the oversupply of condo units, with fears 2018 will be even worse.</p> <p>“A lot of [the properties] haven’t been finished yet so they won’t be sitting there empty, but there’s going to be a lot coming online this year and that’s when the big glut will hit the market,” Grant Fitzgerald, country manager for local realtor Independent Property Services, says. “There simply won’t be enough people to rent them.”</p> <p>He adds that many of the properties have been bought by Asian investors with the aim of renting them out.</p> <p>Since Cambodia limped away from the financial crisis of 2008 and its economy strengthened, Phnom Penh has emerged as real estate hotspot among Chinese and other Asian investors looking to buy a property without the onerous regulations or instability affecting most neighbouring countries in the region.</p> <p>Consistent economic growth of about 7 percent and a growing middle class have drawn big international brands in retail, hospitality and real estate – from Japan’s Aeon Mall to Starbucks – providing fertile ground for developers looking to tap into a new wealthier class of urban professionals.</p> <p>Between 2009 and 2010, the first generation of low-to-mid-rise condominiums entered the market with a total of 732 condominium units for sale. By the end of 2015 there were 2,836 such units. A marked shift, however, came amid a wave of building launches in 2013 and 2014, with the likes of De Castle Royal adding 414 units and setting new market standards in design and quality.</p> <p><a href="http://property-report.com/detail/-/blogs/what-you-need-to-know-about-asia-s-final-frontie-4" target="_blank"><strong>More:&nbsp;What you need to know about Asia’s final frontiers</strong></a></p> <p>Yet the country’s high-end segment is still heavily reliant on foreign buyers, particularly from mainland China, Hong Kong, Singapore and Taiwan.</p> <p>China is Cambodia's single largest foreign investor. According to a Chinese official quoted by the state-owned news agency Xinhua, Chinese investment accounted for an estimated&nbsp;USD11.8 billion, or 34% of total foreign direct investment, in 2016, with that money going largely into land, property, infrastructure and manufacturing.</p> <p>Ross Wheble, Cambodia country director at real estate services firm Knight Frank, said there is an oversupply in the high-end segment of the market which</p> <p>Perhaps the biggest concern is that most Cambodians simply cannot afford units in the high-end segment of the market and there are not enough foreign buyers.</p> <p>“It has been mainly foreign investors buying luxury condos and obviously there is a finite number of them, hence sales have slowed significantly over the last year,” Ross Wheble, Cambodia country director at real estate services firm Knight Frank, says.</p> <p>“To be sustainable, the market needs to be driven by domestic demand. Developers have now shifted to more affordable projects, and we have seen increasing interest from Cambodians for units priced below USD50,000.”</p> <p><a href="http://property-report.com/detail/-/blogs/where-to-find-cambodia-s-most-exciting-mixed-use-developme-17" target="_blank"><strong>More:&nbsp;Where to find Cambodia’s most exciting mixed-use developments</strong></a></p> <p>In a survey of leading industry experts by local online property portal realestate.com.kh, the consensus was that the market needs to reinvent itself and focus not just on high-end developments if it is to cope with the upcoming challenges.</p> <p>Kim Heang, president of the Cambodian Valuers and Estate Agents Association, was quoted as saying that developers should focus on lower income and new family markets, with new developments priced at around $30,000 to $40,000 rather than $100,000 for middle class families.</p> <p>“Boreys (purpose built communities) for the middle class and high-end clientele have reached their limit,” Kim Heang, president of the Cambodian Valuers and Estate Agents Association, said in the survey, adding that developers should focus on properties priced at around USD30,000 to USD40,000 rather than USD100,000.</p> <p>The oversupply is also pushing down rental prices of both old residential apartments and new condominium units, according to Mara Tep, manager of Phnom Penh-based agency Rooftop Real Estate. Another factor in the impending glut is the focus by developers on appealing to Asian clientele.&nbsp;</p> <p>“Many of the new condos have a Chinese style, which Westerners do not like,” she says. “Developers should certainly think more about adapting their style and catering to a wider variety of buyers.”</p> <p>Whether it’s a change of tack architecturally or a more realistic approach to addressing demand, it seems that a change of strategy is indeed required. How long it will take for the upcoming glut to be absorbed, though, is anyone’s guess.</p> <p><em>This article originally appeared in <a href="https://www.magzter.com/TH/PropertyGuru-International-(Thailand)-Co.,Ltd/Property-Report/Business/266502" target="_blank">Issue No. 146 of PropertyGuru Property Report Magazine</a></em></p>
    Why condominium developers in Phnom Penh may have got ahead of themselves
    <p><img alt="Vietnam has a sizable Catholic populace. Pictured here is the Notre-Dame Cathedral Basilica of Saigon. Sean Hsu/Shutterstock" src="/documents/10204/0/shutterstock_571153756-compressor.jpg/313259db-faee-4408-a99b-2a34a6643f99?t=1527155164943" style="width: 1000px; height: 667px;" />Are Vietnam’s largest Catholic buildings standing in the way of progress, or vice-versa?</p> <p>This was the question hanging over Ho Chi Minh City as clergy and churchgoers ask government officials to make proper restitutions for alleged land-grabbing activities that have&nbsp;displaced thousands of people, <a href="https://www.ucanews.com/news/catholics-protest-land-grab-for-vietnam-project/82382" target="_blank">UCANews</a> reported.</p> <p>In a statement issued May 19, religious figures led by Bishop Paul Nguyen Thai Hop, head of the Episcopal Commission on Justice and Peace, called on the government to “give Lien Tri Temple, Lovers of the Holy Cross Congregation and residents back their properties,&nbsp;which were not part of the urban expansion plan" under&nbsp;the prime minister's original directive.</p> <p>The statement drew affirmative signatures from 11 priests and pastors, in addition to 20 civil society and rights and democracy groups as well as 361 activists.</p> <p>The protests came a few days after Prime Minister Nguyen Xuan Phuc's admission that&nbsp;local authorities had&nbsp;mismanaged project land and poorly resolved complaints coursed through legal channels.</p> <p><a href="http://property-report.com/detail/-/blogs/the-vietnamese-province-you-ve-never-heard-of-transforms-into-a-property-investment-magn-6" target="_blank"><strong>More:&nbsp;The Vietnamese province you’ve never heard of transforms into a property investment magnet</strong></a></p> <p>The project in contention gained the approval of former Prime Minister Vo Van Kiet in 1996. At the centre of the conflict are Thu Thiem Church and the convent of Lovers of the Holy Cross sisters, structures that have stood in the city for more than 150 years.</p> <p>Nguyen Thanh Phong, president of the People's Committee of Ho Chi Minh City, on 1 May entreated local authorities for the edifices' removal, paving&nbsp;the way for the new Thu Thiem commercial business district&nbsp;complete with new roads and public gardens.&nbsp;</p> <p>Critics alleged that authorities forcibly removed and evicted about 50,000 residents from more than 10,000 properties across an area totalling&nbsp;169 hectares. Compensation for displaced households has&nbsp;allegedly been inadequate, and the relocation sites are said to be in bad condition.&nbsp;</p> <p>The protestors' statement urged the government to&nbsp;create an inspection panel made up of civil society leaders and victims, with an eye toward prosecuting individuals responsible for the land grab.</p> <p>Vietnam is home to more than six million Catholics, the fifth largest population of such denomination in Asia.&nbsp;</p>
    How religious heritage is clashing with Ho Chi Minh City's rapid progress
    <p><img alt="Artist’s impression of the Martin Modern condominium by GuocoLand" src="/documents/10204/0/Martin+modern+lead.PNG/85e8d1ac-4495-4480-84e3-3f2ca01ec51e?t=1527154599960" style="width: 1000px; height: 493px;" />Residential projects that come with extensive greenery and are located near parks are becoming increasingly sought-after by property seekers these days.</p> <p>In fact, research published by the National University of Singapore last month revealed that HDB flats close to green spaces command a higher premium of 3.0 percent or SGD11,200 (USD8,350) of the resale value.</p> <p>Among the benefits of living close to nature is lower utility costs as the shade provided by trees and plants helps lower the temperature of buildings. More importantly, people who live near dense foliage are likely to live longer, according to a joint study by Harvard T.H. Chan School of Public Health and Brigham and Women’s Hospital.</p> <p>Recognising the efforts of developers to incorporate more green spaces into their developments, there will be a Design Award for Best Landscape Architectural Design at this year’s <a href="http://www.asiapropertyawards.com/singapore-property-awards/">PropertyGuru Asia Property Awards (Singapore)</a>, which will be held at Marina Bay Sands on 12 October.</p> <p>In the meantime, let’s look at four new projects that are a garden lover’s paradise.</p> <h3><strong>Martin Modern</strong></h3> <p>Located in Robertson Quay in prime District 9, <a href="https://www.propertyguru.com.sg/new-project-launch/reviews/martin-modern-review-174321?utm_source=propertyreportsite&amp;utm_medium=article&amp;utm_campaign=partnership">Martin Modern</a> consists of 450 luxury residential units. The 99-year leasehold project is being developed by GuocoLand, which claimed the Best Developer title at the PropertyGuru Asia Property Awards (Singapore) 2017.</p> <p>The 1.6ha development is surrounded by lush foliage and topped by two secret gardens.</p> <p>“The 15 curated gardens which span 80 percent of the site area, with the building footprint standing on only 20 percent of the land, might be the most generous private garden that anyone can possess. There are some 200 species of plants and 50 species of trees, with many indigenous ones,” said a GuocoLand spokesperson.</p> <p>Martin Modern was launched last July and is anticipated to be completed by 2021.</p> <p><img alt="" src="/documents/10204/0/Arrival+at+Martin+Modern+romesh.jpg/56c63ee0-dc28-4ab3-84a8-b9beeb1b5ce9?t=1527154812479" /></p> <h3><strong>Parc Botannia</strong></h3> <p>Launched last November, <a href="https://www.propertyguru.com.sg/new-project-launch/reviews/parc-botannia-review-179826?utm_source=propertyreportsite&amp;utm_medium=article&amp;utm_campaign=partnership">Parc Botannia</a> is a 99-year leasehold condominium jointly developed by Sing Holdings and Wee Hur Holdings.</p> <p>The nature-themed parkside development along Fernvale Road in District 28 will enjoy lush greenery and is flanked by an upcoming park measuring over 100,000 sq ft.</p> <p>The project will also incorporate elements of nature into its layout and design, such as a tree maze garden and floral trellis among its various themed gardens. Residents can also grow their own fruits and vegetables in the community garden.</p> <p>The 731-unit project is expected to be completed by 2021.</p> <p><img alt="" src="/documents/10204/0/Parc+Botannia+lush+greenery.jpg/7958884f-c2a5-4860-8422-74d9f396d12c?t=1527154860144" /></p> <p><a href="http://www.property-report.com/detail/-/blogs/singapore-architect-calls-for-national-referendum-on-fate-of-iconic-buildin-9"><strong>More:&nbsp;Singapore designer calls for national referendum on fate of iconic buildings</strong></a></p> <h3><strong>Twin Vew</strong></h3> <p>CSC Land’s maiden residential project in Singapore comprises a total of 520 units. The 99-year leasehold condominium in West Coast Vale in District 5 was launched earlier this month, attracting strong buying interest.</p> <p>Set amidst lush greenery, <a href="https://www.propertyguru.com.sg/new-project-launch/reviews/twin-vew-review-181916?utm_source=propertyreportsite&amp;utm_medium=article&amp;utm_campaign=partnership">Twin Vew</a> offers more than 100 percent landscape, including cascading contours inspired by rice paddy fields. There are also various themed gardens including a Sky Garden, Herb Garden and Mist Garden.</p> <p>Scheduled for completion by 2021, the project also offers riverside living with a riverfront trail and panoramic views over the nearby Pandan Reservoir.&nbsp;</p> <p><img alt="" src="/documents/10204/0/Twin+VEW+-+Hero.jpg/9d30345f-a57d-4c50-ad5c-1c9fc2e6c0af?t=1527154919867" /></p> <h3><strong>The Garden Residences</strong></h3> <p>The newly launched <a href="https://www.propertyguru.com.sg/new-project-launch/the-garden-residences-4058183?utm_source=propertyreportsite&amp;utm_medium=article&amp;utm_campaign=partnership">The Garden Residences</a> near Serangoon Gardens in District 19 is a 99-year leasehold condominium jointly developed by Keppel Land and Wing Tai Asia.</p> <p>Expected to be completed by 2021, the project will house more than 100 species of plants as part of its carefully curated garden, including plants with medicinal properties such as curry leaf, Indian bay leaf and aloe vera.</p> <p>Facilities include a scenic boardwalk lined with greenery, landscaped decks and a community garden where residents can grow and harvest their own herbs and spices.</p> <p><img alt="" src="/documents/10204/0/The+Garden+Residences+landscaping.jpg/7aa749e9-e796-4b48-a958-0f69ffdd7600?t=1527154972287" /></p> <p><em>This article originally appeared on&nbsp;<a href="https://www.propertyguru.com.sg/property-management-news/2017/12/167029/propertyguru-property-market-outlook-2018?utm_source=propertyreportsite&amp;utm_medium=article&amp;utm_campaign=partnership" target="_blank">PropertyGuru.com.sg</a>&nbsp;on 4 May 2018. For their latest property news, trends, resources and expert opinions, visit their&nbsp;<a href="https://www.propertyguru.com.sg/market-news" target="_blank">Property News</a>&nbsp;page. Home buyers looking for&nbsp;<a href="https://www.propertyguru.com.sg/" target="_blank">Singapore Properties</a>&nbsp;may like to visit their&nbsp;<a href="https://www.propertyguru.com.sg/singapore-property-listing/property-for-sale" target="_blank">Listings</a>,&nbsp;<a href="https://www.propertyguru.com.sg/new-project-launch/reviews" target="_blank">Project Reviews</a>&nbsp;and&nbsp;<a href="https://www.propertyguru.com.sg/singapore-property-resources" target="_blank">Guides</a>&nbsp;page.</em></p>
    From secret gardens to a riverfront trail, these are some of the best landscaped condominiums in Singapore
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    <p><img alt="View of boats in the Port de Fontvieille harbor at the foot of the Rock of Monaco. EQRoy/Shutterstock" src="/documents/10204/0/shutterstock_1077985973-compressor.jpg/3fce121f-b6c3-4ce8-b0ab-56a79c2fef39?t=1527150160001" style="width: 1000px; height: 667px;" />With&nbsp;supply in short shrift, Monaco still beat out Hong Kong as the priciest luxury home market in the world, according to a yearly overview of the principality&nbsp;released this week by the consultancy <a href="http://www.savills.co.uk/research_articles/229130/242697-0" target="_blank">Savills</a>.</p> <p>The principality trounced the Chinese SAR as the average home price in the former climbed to EUR4.5 million (USD5.265 million) in 2017, up 6 percent from the previous year.</p> <p>“Wealthy residents hold their property for long periods, while little new stock is added,” Paul Tostevin, associate director at Savills, wrote in the Spotlight report on Monaco.&nbsp;</p> <p>With an average price per square metre of EUR41,300 per square metre&nbsp;(USD4,500 per square foot), Monaco remains “the most expensive residential market in the world – 13 percent higher than prime HongKong, the second most expensive market.”</p> <p><a href="http://www.property-report.com/detail/-/blogs/the-mediterranean-is-still-the-dream-second-home-for-wealthy-asia-7" target="_blank"><strong>More:&nbsp;The Mediterranean is still the dream second-home destination for wealthy Asians</strong></a></p> <p>Home to 139 nationalities, Monaco suffers from "extreme" land constraint. New development sites rarely become&nbsp;available in the principality, with ongoing&nbsp;major schemes like Sporting d’Hiver set to deliver only properties to rent rather than buy.</p> <p>The dearth of available homes to own in the principality is working against strong demand from high-net-worth individuals around the world. Only EUR2 billion (USD2.3 billion) worth of homes were sold in Monaco last year, a staggering 23 percent dive from sales of EUR2.7 billion the previous year.</p> <p>Project Portier, which began last year, is set to add six hectares and 54,980 square metres of new habitable space of new land to Monaco, but even this will make “only a dent in the supply shortage,” researchers stated. “We expect new build transaction volumes to drop off significantly in the near term."</p>
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    Monaco still outranks Hong Kong as world's most expensive residential market
    <p><img alt="Inner Harbour in Victoria, British Columbia. androver/Shutterstock" src="/documents/10204/0/shutterstock_230990077-compressor.jpg/7ae46e3f-a143-4e3d-8fc5-39a76a5b7194?t=1526970432046" style="width: 1000px; height: 578px;" />Although home to just 85,000, the city of Victoria in British Columbia crowned the latest Luxury Thermometer&nbsp;ranking prime residential property markets worldwide according to growth and demand, part of the annual report from Christie’s International Real Estate.</p> <p>Victoria topped&nbsp;better-known markets such as&nbsp;San Diego; Orange County, California; Washington DC; and Paris, even though it was only fifth hottest in the world based on average price (USD1.2 million, up 6 percent from 2016 figures).</p> <p>The Vancouver Island town&nbsp;exhibited not only a voluminous&nbsp;number of sales but also top sales speeds. The average time to find a buyer for&nbsp;property in Victoria last year lasted&nbsp;only 32 days, one of the fastest turnover rates of any city tracked by the report; its sales volume has ballooned 29 percent since 2016.</p> <p><a href="http://property-report.com/detail/-/blogs/this-city-will-soon-overtake-new-york-city-for-being-home-to-most-billionair-5" target="_blank"><strong>More:&nbsp;This Asian city will soon have more billionaires than New York</strong></a></p> <p>Victoria appears to be the beneficiary of a province-wide surge in property prices that has led the British Columbia government to levy as much as 20 percent on purchases of property by overseas buyers in Vancouver. The Victoria market is "powered by an influx of buyers from the United States and China," Christie's noted.&nbsp;&nbsp;</p> <p>"Like Vancouver,&nbsp;the Victoria market has reached a point where additional government cooling measures appear imminent this year — taxing foreign buyers, limiting speculative buyers, and adding transparency rules could lead to a cooling in 2018," Christie's stated. "However, if Toronto and Vancouver can be a measure, it is likely Victoria will continue to perform well despite these regulations."&nbsp;</p> <p>The&nbsp;Luxury Thermometer&nbsp;weighs annual changes in days on market and luxury home sales more heavily than year-on-year price shifts. Sales volumes—as numerous studies have proven—are the most reliable predictor of a housing market’s future market health and price increases, barring changes in market fundamentals.</p> <p>In the same report, Hong Kong fended off New York and London, in that order, to remain global number one on <summmary><a href="http://property-report.com/detail/-/blogs/london-tumbles-new-york-rises-and-hong-kong-lords-them-all-as-world-s-most-luxurious-housing-market" target="_blank">Christie's International Real Estate Luxury Index.</a></summmary></p>
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    This little Canadian market is so hot you'll find a home buyer in 32 days
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    <p><img alt="" src="/documents/10204/0/phnom+penh+dispatch+146+lead.jpg/23f4c9d7-1a8e-498a-a808-49f22a82dffa?t=1527158461036" style="width: 1400px; height: 640px;" />In Phnom Penh, the sight and sound of construction often seem inescapable. As investors and developers continue to pour money into retail, residential and commercial complexes, the din of drilling, clanging and sawing serves as a reminder of the city’s unrelenting building boom.</p> <p>Recent years have seen much of the money flow into high-end condominium towers, which have raised the city’s skyline and put thousands of units on the market.</p> <p>But many experts believe developers and speculators may have got ahead of themselves.</p> <p>There are currently 110 condo projects both finished and ongoing in Phnom Penh, with 37,570 units slated to come online by 2020, according to a 2017 report by real estate company Century 21. Since 2016, however, demand for new condos has slowed down significantly.</p> <p>The report notes that only 13 percent of 13,300 new units were sold in a presale launch during the first half of 2016, compared with year-on-year sales of 18 percent in 2015 and 31 percent in 2014.</p> <p>Adding to the anguish was the announcement in a CBRE Cambodia mid-year report that there was just one new launch in Q2 2017.</p> <p>“Whilst there has been little fluctuation in sales prices for condominiums, some developers have started to employ increasingly commercial marketing strategies, including discounts on quoting sales prices of between 2 percent and 10 percent,” CBRE states in its analysis.</p> <div class="pull-quotes-container">There’s going to be a lot of units coming online this year and that’s when the big glut will hit the market. There simply won’t be enough people to rent them</div> <p>There is widespread concern about the oversupply of condo units, with fears 2018 will be even worse.</p> <p>“A lot of [the properties] haven’t been finished yet so they won’t be sitting there empty, but there’s going to be a lot coming online this year and that’s when the big glut will hit the market,” Grant Fitzgerald, country manager for local realtor Independent Property Services, says. “There simply won’t be enough people to rent them.”</p> <p>He adds that many of the properties have been bought by Asian investors with the aim of renting them out.</p> <p>Since Cambodia limped away from the financial crisis of 2008 and its economy strengthened, Phnom Penh has emerged as real estate hotspot among Chinese and other Asian investors looking to buy a property without the onerous regulations or instability affecting most neighbouring countries in the region.</p> <p>Consistent economic growth of about 7 percent and a growing middle class have drawn big international brands in retail, hospitality and real estate – from Japan’s Aeon Mall to Starbucks – providing fertile ground for developers looking to tap into a new wealthier class of urban professionals.</p> <p>Between 2009 and 2010, the first generation of low-to-mid-rise condominiums entered the market with a total of 732 condominium units for sale. By the end of 2015 there were 2,836 such units. A marked shift, however, came amid a wave of building launches in 2013 and 2014, with the likes of De Castle Royal adding 414 units and setting new market standards in design and quality.</p> <p><a href="http://property-report.com/detail/-/blogs/what-you-need-to-know-about-asia-s-final-frontie-4" target="_blank"><strong>More:&nbsp;What you need to know about Asia’s final frontiers</strong></a></p> <p>Yet the country’s high-end segment is still heavily reliant on foreign buyers, particularly from mainland China, Hong Kong, Singapore and Taiwan.</p> <p>China is Cambodia's single largest foreign investor. According to a Chinese official quoted by the state-owned news agency Xinhua, Chinese investment accounted for an estimated&nbsp;USD11.8 billion, or 34% of total foreign direct investment, in 2016, with that money going largely into land, property, infrastructure and manufacturing.</p> <p>Ross Wheble, Cambodia country director at real estate services firm Knight Frank, said there is an oversupply in the high-end segment of the market which</p> <p>Perhaps the biggest concern is that most Cambodians simply cannot afford units in the high-end segment of the market and there are not enough foreign buyers.</p> <p>“It has been mainly foreign investors buying luxury condos and obviously there is a finite number of them, hence sales have slowed significantly over the last year,” Ross Wheble, Cambodia country director at real estate services firm Knight Frank, says.</p> <p>“To be sustainable, the market needs to be driven by domestic demand. Developers have now shifted to more affordable projects, and we have seen increasing interest from Cambodians for units priced below USD50,000.”</p> <p><a href="http://property-report.com/detail/-/blogs/where-to-find-cambodia-s-most-exciting-mixed-use-developme-17" target="_blank"><strong>More:&nbsp;Where to find Cambodia’s most exciting mixed-use developments</strong></a></p> <p>In a survey of leading industry experts by local online property portal realestate.com.kh, the consensus was that the market needs to reinvent itself and focus not just on high-end developments if it is to cope with the upcoming challenges.</p> <p>Kim Heang, president of the Cambodian Valuers and Estate Agents Association, was quoted as saying that developers should focus on lower income and new family markets, with new developments priced at around $30,000 to $40,000 rather than $100,000 for middle class families.</p> <p>“Boreys (purpose built communities) for the middle class and high-end clientele have reached their limit,” Kim Heang, president of the Cambodian Valuers and Estate Agents Association, said in the survey, adding that developers should focus on properties priced at around USD30,000 to USD40,000 rather than USD100,000.</p> <p>The oversupply is also pushing down rental prices of both old residential apartments and new condominium units, according to Mara Tep, manager of Phnom Penh-based agency Rooftop Real Estate. Another factor in the impending glut is the focus by developers on appealing to Asian clientele.&nbsp;</p> <p>“Many of the new condos have a Chinese style, which Westerners do not like,” she says. “Developers should certainly think more about adapting their style and catering to a wider variety of buyers.”</p> <p>Whether it’s a change of tack architecturally or a more realistic approach to addressing demand, it seems that a change of strategy is indeed required. How long it will take for the upcoming glut to be absorbed, though, is anyone’s guess.</p> <p><em>This article originally appeared in <a href="https://www.magzter.com/TH/PropertyGuru-International-(Thailand)-Co.,Ltd/Property-Report/Business/266502" target="_blank">Issue No. 146 of PropertyGuru Property Report Magazine</a></em></p>
    Why condominium developers in Phnom Penh may have got ahead of themselves
    <p><img alt="" src="/documents/10204/0/new-zealand-dispatch-lead-compressor.jpg/9105084f-8d22-4f41-8c26-85aed39d9a32?t=1525863428696" style="width: 1395px; height: 641px;" />When New Zealand Deputy Prime Minister and Foreign Minister Winston Peters cracked a racist joke in a speech on the perils of Chinese&nbsp; investment in the farming sector in 2014,&nbsp;he was roundly chastised. Although Peters himself said he saw no harm in it, his assertion that “two Wongs don’t make a white,” was widely viewed as offensive and even incendiary.&nbsp;</p> <p>Such a crack might have meant political death for others, but Peters survived and has thrived. His nationalist NZ First party is the kingmaker in the new coalition government helmed by Labour Party Leader Prime Minister Jacinta&nbsp; Arden. And memories of his off-colour remarks have been&nbsp; stirred by a move to exclude international buyers from the Kiwi property scene.</p> <p>Minted in October, the government is pushing through a bill to ban foreign property purchases despite concerns that it will have little to no effect on one of the world’s least affordable housing markets.</p> <p>The bill will change the Overseas Investment Act so that only citizens and permanent residents will be able to purchase existing property without a lengthy screening&nbsp; process.&nbsp; Opponents&nbsp; believe&nbsp; the&nbsp; move&nbsp; was&nbsp; political&nbsp; grandstanding&nbsp; for&nbsp; administration&nbsp; partners&nbsp; Labour Party and NZ First.</p> <p>Labour&nbsp; and&nbsp; NZ&nbsp; First&nbsp; campaigned&nbsp; on&nbsp; making&nbsp; home&nbsp; ownership&nbsp;&nbsp;&nbsp; more&nbsp;&nbsp;&nbsp; affordable&nbsp;&nbsp;&nbsp; for&nbsp;&nbsp;&nbsp; New&nbsp;&nbsp;&nbsp; Zealanders&nbsp;&nbsp;&nbsp; despite low mortgage rates and stagnant wages. But the parties also sent out public missives on rampant and&nbsp;&nbsp;&nbsp;&nbsp; seemingly&nbsp;&nbsp;&nbsp;&nbsp; imaginary&nbsp;&nbsp;&nbsp;&nbsp; wholesale&nbsp;&nbsp;&nbsp;&nbsp; property&nbsp;&nbsp;&nbsp;&nbsp; speculation by Chinese and Indian citizens. The logic was simple: addition by subtraction -- of Chinese and Indian buyers.</p> <p><a href="http://property-report.com/detail/-/blogs/what-will-it-take-to-cool-down-australia-s-property-marke-8" target="_blank"><strong>More:&nbsp;What will it take to cool down Australia’s property market?</strong></a></p> <p>However,&nbsp; according&nbsp; to&nbsp; a&nbsp; recent&nbsp; survey&nbsp; of&nbsp; its&nbsp; 14,000&nbsp; members by advocacy and advisory body Real Estate Institute&nbsp; of&nbsp; New&nbsp; Zealand&nbsp; only&nbsp; about&nbsp; 3.8&nbsp; percent&nbsp; of&nbsp; buyers were foreign nationals.</p> <p>“There is little data or evidence that clearly links the role foreign buyers have in allegedly increasing house prices,”&nbsp; said&nbsp; Bindi&nbsp; Norwell,&nbsp; chief&nbsp; executive&nbsp; of&nbsp; REINZ&nbsp; in&nbsp; a&nbsp; November&nbsp; media&nbsp; note&nbsp; on&nbsp; the&nbsp; ban.&nbsp; “Additionally,&nbsp; many&nbsp; of&nbsp; the&nbsp; large&nbsp; banks&nbsp; here&nbsp; have&nbsp; already&nbsp; made&nbsp; restrictions to offshore buyers without a local income, yet&nbsp; we’ve&nbsp; still&nbsp; seen&nbsp; the&nbsp; national&nbsp; median&nbsp; house&nbsp; price&nbsp; increase.”&nbsp;</p> <p>REINZ says median prices across New Zealand rose 1.9 percent in November to NZD540,000 (USD378,500) –&nbsp; up&nbsp; from&nbsp; NZD530,000&nbsp; in&nbsp; October.&nbsp; In&nbsp; Auckland,&nbsp; the&nbsp; country’s&nbsp; biggest&nbsp; city&nbsp; and&nbsp; home&nbsp; to&nbsp; a&nbsp; third&nbsp; of&nbsp; New&nbsp; Zealand’s&nbsp;&nbsp; 4.8&nbsp;&nbsp; million&nbsp;&nbsp; people,&nbsp;&nbsp; price&nbsp;&nbsp; increased&nbsp;&nbsp; 3.8&nbsp;&nbsp; percent&nbsp; to&nbsp; NZD$880,000&nbsp; –&nbsp; up&nbsp; from&nbsp; NZD$848,149&nbsp; in&nbsp; October&nbsp; and&nbsp; 0.6&nbsp; percent&nbsp; year-on-year.&nbsp; Auckland’s median price has now increased by NZD50,000 over the&nbsp; last&nbsp; four&nbsp; months.&nbsp; While&nbsp; its&nbsp; average&nbsp; house&nbsp; price&nbsp; has&nbsp; soared&nbsp; 90&nbsp; percent&nbsp; in&nbsp; the&nbsp; last&nbsp; decade&nbsp; to&nbsp; more&nbsp; than NZD1 million.</p> <p>In&nbsp;the&nbsp;capital&nbsp;of&nbsp;Wellington,&nbsp; where&nbsp;demand&nbsp;outstrips&nbsp;supply, values rose 10 percent during the year. In Christchurch, the&nbsp;third&nbsp;largest&nbsp; city,&nbsp;which&nbsp;is&nbsp;over-supplied,&nbsp;prices&nbsp;fell&nbsp;1.6 percent.</p> <p>“We would just like some clarification on what the ban is&nbsp; trying&nbsp; to&nbsp; achieve.&nbsp; Our&nbsp; position&nbsp; has&nbsp; been&nbsp; that&nbsp; foreign&nbsp; investors&nbsp; are&nbsp; a&nbsp; small&nbsp; percentage&nbsp; of&nbsp; buyers.&nbsp; Is&nbsp; it&nbsp;the&nbsp;perception&nbsp;that&nbsp;the&nbsp;government&nbsp;is&nbsp;trying&nbsp;to&nbsp;moderate&nbsp; price growth?” asked Norwell. “Banks have tightened up. If this legislation is not going to have any real affect, it’s a big policy change and a strong message its sending.”</p> <p><img alt="Firework display atop the Auckland Sky Tower to celebrate the Chinese New Year. Shaun Jeffers/Shutterstock" src="/documents/10204/0/shutterstock_185821316-compressor.jpg/c1ccaf62-f0c5-4f74-a3ec-26e963c4b181?t=1525865380438" /></p> <p>There&nbsp; have&nbsp; been&nbsp; ongoing&nbsp; concerns&nbsp; about&nbsp; a&nbsp; potential&nbsp; massive correction in the market, which is widely viewed as overvalued. But local economists point to an ongoing housing&nbsp; crisis&nbsp; that&nbsp; they&nbsp; say&nbsp; will&nbsp; keep&nbsp; prices&nbsp; buoyant&nbsp; over&nbsp; the&nbsp; medium&nbsp; term&nbsp; with&nbsp; scant&nbsp; hope&nbsp; of&nbsp; the&nbsp; central&nbsp; bank raising rates any time soon.</p> <p>In&nbsp; December,&nbsp; the&nbsp; Treasury&nbsp; issued&nbsp; caveats&nbsp; about&nbsp; the&nbsp; new government’s rush to ban foreign ownership saying that&nbsp; there&nbsp; is&nbsp; “low”&nbsp; certainty&nbsp; that&nbsp; the&nbsp; move&nbsp; would&nbsp; ease&nbsp; price pressure or usher in a boom in new construction.</p> <p>Treasury also took exception to how quickly the analysis and implementation risks were cobbled together.</p> <p>“We are determined to make it easier for Kiwis to buy their first home, so we are stopping foreign speculators buying houses and driving up prices,”&nbsp;Arden said about the bill.&nbsp;</p> <div class="pull-quotes-container">Evidence in both Australia and here in New Zealand is that overseas buyers don’t have a significant impact on the housing market</div> <p>Many&nbsp; though&nbsp; are&nbsp; sceptical&nbsp; on&nbsp; just&nbsp; how&nbsp; effective&nbsp; the&nbsp; legislation will turn out to be.</p> <p>“Evidence&nbsp; in&nbsp; both&nbsp; Australia&nbsp; and&nbsp; here&nbsp; in&nbsp; New&nbsp; Zealand&nbsp; is&nbsp; that overseas buyers don’t have a significant impact on the housing market,” said opposition finance spokesman Steven Joyce.</p> <p>Even Arden’s own Trade Minister David Parker said he does not expect a huge impact on housing prices, but the&nbsp; “principle&nbsp; that&nbsp; buying&nbsp; New&nbsp; Zealand&nbsp; homes&nbsp; was&nbsp; a&nbsp; privilege”&nbsp; was&nbsp; an&nbsp; important&nbsp; factor&nbsp; in&nbsp; pushing&nbsp; the&nbsp; legislation through.</p> <p>There&nbsp; are&nbsp; also&nbsp; concerns&nbsp; that&nbsp; a&nbsp; glut&nbsp; would&nbsp; wipe&nbsp; out&nbsp; gains&nbsp; in&nbsp; household&nbsp; net&nbsp; worth,&nbsp; which&nbsp; is&nbsp; up&nbsp; 11&nbsp; percent&nbsp; or&nbsp; NZD134&nbsp; billion&nbsp; since&nbsp; 2007.&nbsp; About&nbsp; NZD84&nbsp; billion&nbsp; of&nbsp; that&nbsp; was&nbsp; on&nbsp; the&nbsp; back&nbsp; of&nbsp; increased&nbsp; property&nbsp; value&nbsp; according&nbsp; to&nbsp; Statistics&nbsp; NZ.&nbsp; The&nbsp; bill&nbsp; adds&nbsp; enforcement&nbsp; measures&nbsp; that&nbsp; force&nbsp; agents&nbsp; to&nbsp; “certify,&nbsp; to&nbsp; the&nbsp; best&nbsp; of&nbsp; their knowledge”, that new buys stack up with the new regulations.</p> <p><a href="http://property-report.com/detail/-/blogs/where-is-the-world-s-best-place-for-expats-to-live-and-work-i-1" target="_blank"><strong>More:&nbsp;Where in the world is the best home for a working expat?</strong></a></p> <p>But for many, the ban on foreign purchases is a thinly veiled swipe at Asian investors in line with Peters’ and NZ First’s often-antagonistic stance on foreigners. During&nbsp; the&nbsp; 1996&nbsp; general&nbsp; election&nbsp; he&nbsp; campaigned&nbsp; on&nbsp; beating&nbsp; back&nbsp; the&nbsp; “Asian&nbsp; Invasion.”&nbsp; The&nbsp; invasion&nbsp; did&nbsp; not&nbsp; exist,&nbsp; but&nbsp; Peters&nbsp; helped&nbsp; usher&nbsp; in&nbsp; more&nbsp; restrictive&nbsp; immigration&nbsp; policies&nbsp; as&nbsp; Deputy&nbsp; Prime&nbsp; Minister&nbsp; in&nbsp; the&nbsp; wake of the poll.&nbsp;</p> <p>Indeed, many in New Zealand are uncomfortable at the message&nbsp; its&nbsp; government&nbsp; is&nbsp; sending&nbsp; out&nbsp; to&nbsp; the&nbsp; world&nbsp; through the new bill.</p> <p>“I’m not a fan of anything that is going to limit foreign investment in the country,” says Duncan Ross, National country manager of Bayleys Realty Group, which rang up&nbsp; over&nbsp; NZD1.3&nbsp; billion&nbsp; in&nbsp; rural&nbsp; sales&nbsp; in 2017.&nbsp; “I&nbsp; don’t&nbsp; think&nbsp; it&nbsp; really&nbsp; jibes&nbsp; with&nbsp; how&nbsp; we&nbsp; are&nbsp; as&nbsp; welcoming&nbsp; New&nbsp; Zealanders&nbsp; and&nbsp; how&nbsp; much&nbsp; of&nbsp; the&nbsp; market&nbsp; will&nbsp; be&nbsp; affected&nbsp; anyway.&nbsp; For&nbsp; rural&nbsp; purchases&nbsp; and&nbsp; trophy&nbsp; farms, there are more Australian and American buyers anyway.&nbsp; I&nbsp; think&nbsp; this&nbsp; perception&nbsp; that&nbsp; its&nbsp; Asian&nbsp; based&nbsp; is not true.”</p> <p><em>This article originally appeared in <a href="https://www.magzter.com/TH/PropertyGuru-International-(Thailand)-Co.,Ltd/Property-Report/Business/266502" target="_blank">Issue No. 146 of PropertyGuru Property Report Magazine</a></em></p>
    Is New Zealand's ban on foreign home buyers sensible or discriminatory?
    <p><img alt="Green bond issuance for sustainable realty projects is gaining traction worldwide. nelzajamal/Shutterstock" src="/documents/10204/0/shutterstock_585164473-compressor.jpg/f3d99ebd-5db3-437a-a7c7-901734089d1e?t=1527068628675" style="width: 1000px; height: 667px;" />This year, Hong Kong’s Swire Properties became one of the first major Asian developers to issue a green bond, raising USD500 million at a coupon of 3.5 percent.</p> <p>It's yet another telltale indication of the growing global popularity of the fixed-income instruments, designed to raise funds for developments that have a sustainable, environmental thrust.</p> <p>Total real estate green bond issuance around the world has reached USD45 billion, considerably way up from USD19 billion in 2016, according to a new report by Jones Lang LaSalle’s (JLL) <a href="https://www.theinvestor.jll/news/world/others/real-estate-finance-going-green/" target="_blank">The Investor</a>. Around USD155.5 billion in green bonds were issued last year, 29 percent of which raised capital for green building projects, data from the Climate Bonds Initiative showed.</p> <p>For perspective, USD6 trillion of bonds were issued in 2017, suggesting that the green version of the instruments still have a long way to go in terms of adoption.</p> <p><a href="http://property-report.com/detail/-/blogs/open-to-the-elemen-7" target="_blank"><strong>More:&nbsp;Meet the engineer who will change your opinion on green buildings</strong></a></p> <p>For many developers, the financial reward lies in the green bond itself. Affordable finance, it is not — Australia’s ANZ for example, the first bank to launch a green buildings bond in 2015, reported that the pricing of its first green mortgage bond&nbsp;veered close to that of its “conventional” mortgage bonds. In other words, pricing was not a major factor in the market.</p> <p>Similarly, the “green bond saving” was not very significant for Swire Properties. It amounted “roughly to a five basis point difference between yields on the green bonds, compared with conventional bond issues,” Fanny Lung, finance director at Swire Properties, told JLL.</p> <p>“The intangible benefits of the green bond issue have been significant,” she said. “The Hong Kong government is happy to have its green finance initiatives supported by large companies and it has sparked a dialogue over other green initiatives.”</p> <p>Fergal Harris, head of debt capital for Asia-Pacific at JLL, agreed. “For issuers, the benefit is more about being seen to be a good corporate citizen, rather than cheaper finance,” he said.</p> <p>“It is also important, especially in developing markets, for industry players to be rewarded for good sustainability practice and so we hope to see more green bond issues.”</p>
    Green bonds: What’s in it for developers?
    <p><img alt="Asia will command a humongous chunk of the world's total private wealth in 10 years. elwynn/Shutterstock" src="/documents/10204/0/shutterstock_211339132-compressor.jpg/7c2e0e97-33ed-40d2-b8a6-cf4336cb495f?t=1526876929279" style="width: 1000px; height: 667px;" />Worldwide, total private wealth will soar 50 percent over the next decade and reach a staggering USD321 trillion by 2027, according to the AfrAsia Bank Global Wealth Migration Review released this month.</p> <p>Total private wealth at present amounts to approximately USD215 trillion, per the report sponsored by investment institution&nbsp;<a href="https://www.afrasiabank.com" target="_blank">AfrAsia Bank Limited</a> and authored by global market research group New World Wealth.</p> <p>High-net-worth individuals (HNWIs) or those with net assets of at least USD1 million have reached 15.2 million in number worldwide. In addition, there are now about 584,000 multi-millionaires (those with net assets of at least USD10 million) and 2,252 billionaires in the world.</p> <p>But where will the world’s next hubs of affluence be? Here are the fastest-growing wealth markets in the world over the next decade:</p> <h4>1. Sri Lanka</h4> <p><img alt="View to the seaside road in downtown Colombo, Sri Lanka. Dmitry Chulov/Shutterstock" src="/documents/10204/0/shutterstock_308966648-%281%29-compressor.jpg/1559090c-88fa-4dc2-8568-94d1259d04bb?t=1526876059585" /></p> <p>The island nation south of India was singled out in the review as a “safe country” with good educational standards and a large proportion of English-speaking residents. Researchers forecast a wealth growth rate of 200 percent over the next 10 years for Sri Lanka as it benefits from strong rises in such sectors as real estate, local technology, manufacturing, healthcare and financial services.</p> <h4>2. India</h4> <p><img alt="Modern buildings in downtown Bangalore, India. SNEHIT/Shutterstock" src="/documents/10204/0/shutterstock_645862357-%281%29-compressor.jpg/0d8b0553-94fd-412d-97b9-30be90cb8b92?t=1526876235203" /></p> <p>Like Sri Lanka, India benefits from a good educational system and English-speaking labour force, only complemented by a larger number of entrepreneurs. The wealth migration review puts its 10-year wealth growth forecast at 200 percent, aided by strong growth in the local financial services, IT, business process outsourcing, real estate, healthcare and media sectors.</p> <h4>3. Vietnam</h4> <p><img alt="Nighttime view of West Lake, Hanoi, Vietnam. Paul Ballam/Shutterstock" src="/documents/10204/0/shutterstock_654993394-compressor.jpg/bb5b3b76-829e-4ac6-b368-b84c885aa5b6?t=1526876412183" /></p> <p>Southeast Asia’s biggest grower will prove to be Vietnam as it makes a case for itself as the manufacturing hub of Asia. “Vietnam was the fastest growing wealth market in the world over the past decade and is expected to continue to grow strongly,” the researchers stated. “We expect Vietnam wealth numbers to be boosted by strong growth in the local healthcare, manufacturing and financial services sectors.” For that, AfrAsia and New World Wealth forecast its 10-year wealth growth prospects to also be at 200 percent.</p> <h4>4. China</h4> <p><img alt="Overlooking severe haze in Beijing CBD. humphery/Shutterstock" src="/documents/10204/0/shutterstock_568293526-compressor.jpg/3eea7946-ed09-4a2e-9910-1b9684ef97c4?t=1526876738932" /></p> <p>China’s 10-year wealth growth forecast is a tad slower than its neighbours at 180 percent. But make no mistake: the mainland will relentlessly benefit from strong growth, particularly in the the local hi-tech, financial services, entertainment and healthcare sectors. Most of the world’s private wealth is still concentrated in the US with a total of USD62.584 trillion, but China follows right behind with USD24.8 trillion.</p>
    Four out of the five fastest-growing wealth markets on earth are in Asia
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