Issue 11 | Feature brought to you by Dot Property
DOT PARTNERS FOR SHOW
Dot Property Group has been revealed as the official property portal for Myanmar’s first Housing and Real Estate Show during March 2016. The event will take place at Tatmadaw Hall in Yangon between March 19 and March 21, and is expected to feature hundreds of booths from the country’s leading property developers and real estate agents, as well as interior design firms and lifestyle companies.
HCMC: PRICES UP
In its latest research report CBRE Vietnam has predicted prices in HCMC, Vietnam, will be strong this year. It said that with more discerning buyers and an abundant supply, developers are cautious with their price increases in order to ensure sales schedule as planned. Therefore price growth will mostly come from new, top-tier properties at very prime locations asking between US$ 7,500 and US$ 10,000 per sqm.
VACANCY RATES RISING
Condominium vacancies in Makati, the Philippines, continued to rise amid new project completions according to Colliers International in its latest Q4 2015 Research and Forecast report. It noted that three new condos were completed in major CBDs locations during the latter part of 2015 in Makati CBD, Fort Bonifacio and Ortigas Center, totaling 1,581 new units. No new projects were completed in Rockwell Center and Eastwood City during the period.
LUXURY BOOST IN MANILA
Luxury residential property prices in Manila rose by a staggering 13.3 percent year-on-year ending December 2015, and by 1.5 percent in the previous threemonth period. Research from real estate firm JLL noted that during Q4 most monitored luxury residential markets in Asia-Pacific saw flat or small gains in prices, with a varied performance for sales across the region.
MEGAWORLD’S TARGET
Philippines property giant Megaworld is expected to hit P11 billion in rental income during 2016, as it expects to complete more office towers, malls and commercial centres with a total gross floor area of more than 650,000 sqm before the end of the year. With this the company, known to be the country’s largest developer and landlord of office spaces, will see its recurring income grow to more than 20 percent by end of the year.
7th SPOT IN SURVEY
The Philippines has retained its seventh place in an annual survey of global outsourcing destinations. The research from global consulting firm A.T. Kearney’s Global Services Location Index analysed and ranked the top 55 countries for outsourcing worldwide based on metrics in three categories: financial attractiveness, people skills and availability, and business environment. The report said: “The Philippines is second only to India as a player in the global outsourcing industry, where it began in contact centres and gradually climbed the value chain to now incorporate most functions in BPO and ITS.”
TIPPED FOR THE TOP
Vietnam has been tipped as one of the world’s next real estate investment hotspots. Real estate firm Savills, in its Around the World in Dollars and Cents research report, highlighted Vietnam and noted how improving economic conditions have led to a rise in the fortunes of Vietnam’s property industry, with urbanisation, tourism and retail development leading the way.
EXAMS FOR BROKERS
Property brokers in Vietnam will be required to pass examinations to work, with new rules that came into effect on February 16. The Ministry of Construction said the move is happening to improve operations in the sector in light of the improving market.
FEWER AGENTS IN SG
The number of licensed real estate agents in Singapore declined last year, likely as a direct result of the property slowdown in the city-state. At the start of 2016, the Council for Estate Agencies (CEA) had licensed 1,369 estate agents and registered 29,262 salespersons. It said that a total of 104 estate agents and 3,573 salespersons left the industry during 2015.
AGENTS PARTNER
PropNex, Singapore’s largest homegrown real estate agency, and JLL, one of the largest and most successful global real estate consultancies, have announced the launch of a new initiative aimed at assisting developers and buyers of luxury homes in the city-state.
JV FOR AYALA, LT GROUP
Ayala Land and LT Group have revealed that will jointly develop an integrated mixed-use project that spans portions of Pasig and Quezon City in the Philippines. The project will offer a range of property investment and lifestyle options, according to a statement issued by the company, as well as new opportunities for economic growth.
LAUNCH FOR SIME DARBY
Sime Darby Property was set to promote its Negeri Sembilan townships through its Lifestyle@9 campaign starting at the end of February. The new initiative, under Sime Darby Property’s annual Lifestyle Collection campaign, will promote its various developments in the state, all bearing the hallmark of Sime Darby Property’s value proposition in maximising the overall potential of Greater Kuala Lumpur.
STABLE YEAR FOR YANGON
Over past years Myanmar’s economic capital of Yangon has enjoyed a flurry of real estate activity following the loosening of military rule and a gradual process of liberalisation however, 2015 proved to be a fairly quiet period for the city’s real estate as the market cooled in the run up to November’s elections. The torrent of foreign investment slowed, causing office rents to slide and residential sales to come to a halt, according to real estate firm JLL.