Tag Archives: Thailand

Asian property contenders

On the head-spinning Asian property ride, certain countries seem to hit the highs more publicly than others. Singapore constantly sees its name in lights as a beacon of Asian wealth and residential extravagance, Hong Kong is always in the global Top 10 list when it comes to luxury property and record prices. More recently, Bangkok has edged itself into the big league with high-end brand names like St.Regis, Ritz Carlton and Waldorf Astoria entering the ultra luxe arena for those in search of the ultimate downtown pad.

How long these locations hold on to their luxury hotspot crown, however, is debatable. Indonesia is already a regional economic giant and Knight Frank’s Asian Residential review shows consistent property price growth in all segments of the market, which has been rising 3.6 percent annually. The average prices at the luxury end of the market are expected to grow by 5-10 percent in 2012, with luxury condominiums offering stable performance thanks to a limited existing supply and only a handful of luxury projects coming online in the next two years.

Then there’s the Philippines, more specifically Metro Manila. According to Colliers International, while the average GDP growth across the ASEAN countries has slowed to 4.8 percent from 6.9 percent, the Philippine economy managably grew 3.7 percent last year. Areas such as Makati, Rockwell and Bonifacio Global City have expanded upwards at breakneck speed, with developers like Century Properties, Ayala Land and Rockwell Corporation driving the luxury segment ever higher. When Trump Tower Manila officially broke ground last month, Donald Trump, Jr. was more than enthusiastic, saying that he wanted “to take the level of high-end real estate experience in Manila and the Philippines, a country that’s done so well as of late, to levels that have never been done there before.”

All this activity and growth is clearly positive news for regional luxury property investors, but the countries in question also need to take a long hard look at issues that may deter global investors. Ownership laws, investment security and transparency are all key qualities that places like Singapore and Hong Kong bring to the table, and these are crucial fundamentals for other countries looking to draw significant international investment at the luxury end of the market.

Foreigners are allowed to purchase a condominium unit in the Phillippines, but not land, yet Colliers research shows landed properties to be the most favoured lease option for expatriates in areas like Makati. Impending regulations in Indonesia may soon give foreigners the right to apply for the purchase of a Building Ownership Certificate (SKBG), effectively allowing for direct property purchases, However, this will also involve restrictions. Non-nationals will not be permitted to participate in resident associations, for example, and as is the case in Manila, the law will also restrict how many units can be owned by foreigners in a single building.

Other obstacles to foreign property investment include personal security issues and the comparative standard of urban lifestyle on offer in various Asian cities. Although Thailand also suffers from complex foreign ownership regulations; the country’s reputation for hospitality, safety and quality of life gives it the edge over many of its neighbours. Improved transport links, ever more sophisticated dining and retail options and clearly defined luxury enclaves all contribute to an investment friendly landscape that appeals to both domestic and foreign buyers.

Source: PropertyReport – 2012 Jul 18

Top 5 marina properties in South East Asia

Increasingly the playground of the world’s rich, Asia’s high-end property markets are constantly reinventing themselves in order to attract high net worth individuals. First came high-rise iconic developments followed by chic low-rise luxury housing, mixed-use developments and integrated mega-cities. The latest addition to the ever-changing landscape of property developments in Asia is that of Marina Properties. Here is a sneak peak at some of the best there is.

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The Residences at Sentosa Cove, Singapore

The Residences at Sentosa Cove come with a array of services and nearby attractions including an 18-hole golf course, the award-winning ONE˚ 15 Marina Club, Resorts World Sentosa, access to lush rainforest, sandy beaches and Quayside Isle – an integrated hotel, retail and commercial development scheduled for completion later this year. Sentosa Cove features 2,160 homes, starting from S$1,680 (US$1,316) per sq ft.

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Reflections Condo, Keppel Bay, Singapore

Attached to the Marina at Keppel Bay, home to the Keppel Bay Sailing Academy, are the six glass towers and 11 villa apartments that will upon completion boast an exquisite collection of 1,129 waterfront homes. Designed by celebrated architect Daniel Libeskind, the development will also feature an expansive 13,300 sq ft penthouse spread across the 39th and 41st floors of the central high-rise tower. Facilities include an Olympic-sized pool, two Jacuzzi pools, barbecue pits, tennis courts, outdoor fitness stations and playgrounds. Prices start from around US$1,700 per sq ft.

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Park Resicences at Royal Phuket Marina, Thailand

The Park Residences at the Royal Phuket Marina comprise 88 so-called Aquaminiums, waterside condominiums ranging in size from 156 to 831 square metres starting at US$505,000, five 1,058 square metre Royal Villas with 23 metres private berthing starting at US$6.2 million, and one Grand Villa with a 70 metre private berth prized at a cool US$10 million. As of April 2012 only three apartments and three villas including the Grand Villa remain for sale. Facilities include two restaurants, tennis courts, retail outlets, a spa and an exhibition centre.

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Quayside at Straits Quay, Penang, Malaysia

Seri Tanjung Pinang is Malaysia’s premier waterfront community featuring three-storey courtyard terraces, serviced luxury suites, resort condominiums and grand sea-fronting villas. It is part of Straits Quay, a retail and leisure complex featuring a marina, a two-storey shopping mall, a performing arts centre and a wide range of cafes and restaurants. The latest addition to the project is the Andaman Series which is configured in eight different layouts from expansive penthouse suites with private pools, to spacious three-bedroom apartments for larger families. Prices start at RM973,800 (US$305,371).

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Residences at Siam Royal View, Koh Chang, Thailand

Siam Royal View offers a limited number of condos and luxurious beachfront villas on a buy-to-build basis to suit individual needs. Launched in 2006, the latest phase of the development comprises of 100 land plots ranging in size from 300 to 3,000 square metres with prices starting at THB3 million (US$95,175) for a plot of land and THB4 million (US$125,568) for villa construction. The completion of the marina is scheduled for August this year upon which it will feature 75 berth spaces from 10 to 20 metres with deep water buoy mooring for larger vessels 65 feet up. Facilities include a 9-hole golf course, beach club with restaurant, a water sports centre, a gym and several community pools.

Source: PropertyReport – 2012 Jun 28