Overseas Property Blogguide to international real estate investment |
|---|
As Singapore’s property market begins to slow, many Singaporean property investors are beginning to cast their eyes over to Vietnam as the next likely boom market.
Ha Noi Opera House
Vietnam’s political issues seem to be well in the past now and the country has experienced steady, stable growth for the past few years. Recent statistics suggest demand heavily outstrips supply at present, as the Vietnamese standard of living is rising, whereas the property supply is low. Apartment and office rentals are experiencing an average of 95% occupancy, suggesting room for expansion.
CB Richard Ellis’ recent report states that Hanoi has only 4,934 hotel rooms rated at three to five stars, which is extremely low when compared to Bangkok at over 20,000.
Tuesday, January 15th, 2008 
Posted by Overseas Property Mall in South-East-Asia Property, Thailand Property
Debenham Tie Leung (DTZ) recently released a report based on an extensive survey that shows Bangkok as the fifth cheapest office space in the world. The report – DTZ’s eleventh annual “Global Office Occupancy Costs Survey 2008” ranks Bangkok at 133rd in terms of costs per office workstation, with a cost of $2,840 per annum.
DTZ is a global real estate advisor who works to create leading edge property, investment and business solutions worldwide.
The survey puts Surayaba in Indonesia at the bottom of the chart with a cost of $1,550 p.a. Next is Manila at $1,670, Jakarta at $2,170, Tianjin at $2,830, follwed by Bangkok in fifth place.
The survey confirms Richard Ellis’ assessment that London is still the most expensive office market in the world, even discounting the West End. The DTZ report assesses London’s cost per workstation per annum at $27,540. Paris is second at $20,690, Central Tokyo at $18,430.
Monday, January 14th, 2008 Posted by Overseas Property Mall in China Property, Property News Summaries
The Japanese company, Sumitomo Forestry, is aiming to quadruple their sales of houses in China, hoping to achieve sales of around £4 billion by the end of 2009. The Sumitomo Forestry Company has a minority share holding in Paragon Wood Products (30%), a company that builds wood framed houses. At the moment, Sumitomo build very few units, but are planning on building 100 units a year.
Lyons, France
A rather unusual new construction project was revealed this week. Dubai entrepreneur and developer, Buti Saeed Al Ghandi, who heads up the Emivest capital film, has just announced his intention to build a replica of a French city in the middle of the desert.
The city in question is Lyons and the plan was formally announced, strangely enough, in Lyons on Wednesday – the real one. Lyons’ mayor, Gerard Collomb said, “We are flattered that Lyon can inspire… a city like Dubai.”
Realtor.com, an American online real estate service has just launched their iPhone only version, allowing potential clients to review properties online at the touch of a widget. Since the iPhone was launched recently in the U.K. it seems safe to assume this new real estate agent media will not go unexploited for long.
Joe DeTuno, senior vice president, product management, realtor.com had this to say, “We’re committed to enhancing the experience consumers have when they’re searching for real estate on REALTOR.com .Our new search capabilities for the iPhone are relevant enhancements that give consumers the full power of mobility and immediate access to REALTOR.com in a manner that fits naturally into their everyday lifestyle.”
Wednesday, January 9th, 2008 Posted by Overseas Property Mall in Billionaire Homes, Holiday Property, Spanish Property
The priciest piece of property in Alicante, the “Tower King Jaume 1,” a villa 5 kilometers from the town has just been placed on the market.
Boasting only two bedroom suites the price came as a bit of a surprise to us - €10,500,000 – That is correct, over ten million euros for a two-bedroom villa.
Despite the small number of bedrooms, the villa is huge – over 1,100 square meters built and a 4,200 plot. Also included is a heated pool, private library, private pub, gymnasium and an aviary, along with a guest house, staff quarters and spectacular gardens.
Please send us links of more 2008 predictions in your comments…..Many Thanks!
Dear Overseas Property Mall,
I am a little confused about the state of the Spanish property market. I read conflicting reports and projections about Spain all the time and the newspapers are filled with doom and gloom alongside glowing projections. Should I invest in Spain or not ?
Yours sincerely,
Confused in Coventry
Dear confused in Coventry,
Your confusion is understandable. Several small and medium sized Spanish property developers have recently run into financial difficulties, some of the smaller ones taking deposits from customers with them.
The most recent casualty, Colonial, saw it’s shares plummet 40% in 2 days, seemingly for no reason other than worries that the Spanish property boom is over. The president and largest shareholder, Luis Portillo quit after this drop.
This follows on from two other medium sized casualties. Astroc saw their shares drop 85% in July last year causing the founder, Enrique Banuelos to quit and Llanera, a developer based in Valencia, filed for credit protection a few months later.
The Financial Times has a more in-depth look at these casualties here.
