Friday, 16 August 2019

Indonesia and Bali Celebrates 74 Years of Independence

To our Indonesian families, friends associates, and clients form all 100 + of us at PT. Bali Affordable Lifestyles International, PT. Bali Luxury Villas and Best Asia Real Estate we wish you and yours a very happy Independence Day.

Indonesia has now been independent of Dutch colonial rule for 74 years, but they really only gained independence in 1998 when an alleged dictator resigned 21 years ago. That was two years after I arrived in Bali.

As we enter our 75th diamond anniversary next year it is important to note that Indonesia has come a long way.

I for one, a Canadian who has lived and prospered here for 22 years, can give testimony that its Indonesia is growing in leaps and bounds.

Indonesian is often bundled with emerging Asian markets that are called the Rising Tigers.

I've often said that “Indonesia is not a rising Tiger but is a Roaring Lion who has just been let out of its cage”.

“Indonesia is not a rising Tiger but is a Roaring Lion who has just been let out of its cage” 

Indonesian has all the ingredients for being one of the strongest economies in the world soon.

It has one of the lowest costs of labour, abundant natural resources including iron ore, oil and palm oil.

It is located right next door to some of the largest economies including China, Taiwan, and Singapore who have now seen their wages and cost-of-living soar. 

Currently, many of these countries are considering moving labour-intensive production and manufacturing to Indonesia where labour costs are as much as 80% less expensive.

With strong leadership from the current President, Joko Widodo, also known as Jokowi , and his cabinet I believe Indonesia in the next 5 to 10 years will finally take it’s place as one of the top economic powers of the world. 

Naysayers will point to all sorts of problems. They forget one thing that most Indonesians are hard-working honest people. They don’t ask for handouts.

They also don't have weapons and therefore Indonesia has one of the lowest crime rates in the world.

Foreigners must also realize that what has made the country's great in the past is the “Eye of the Tiger”. When American immigrants came in from Ireland, England. Italy, Ukraine Russia etc. over 100 years ago they were willing to work their butts off to establish a strong future for their families.

Unlike most western countries in the world where they feel that they are entitled to everything, Indonesians know that the only way that they will earn money and have a better lifestyle is if they work hard. 

Everyone from the factory workers to the grandmas who sweep the streets in the morning are willing to do their share with pride and honor to make Indonesia great.

I for one am very proud and honoured to be able to live and prosper here with my wonderful Indonesian family consistently my lovely wife Azizah who is a fully licensed Notaris and my two boys born in Bali Xander and Darius who someday will contribute to making in Asia prosper and great economic power. 

So, you Indonesians celebrating your independence should look forward to a much better future and lifestyle as you show the world what hard work and good planning under strong, unselfish leadership can achieve.

From Wikipedia 

Independence Day (Indonesia)

From Wikipedia, the free encyclopedia
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Independence Day
Pengibaran Bendera Merah Putih, Peringatan Hari Proklamasi Kemerdekaan Indonesia.jpg
Flag hoisting ceremony
Official nameHari Kemerdekaan
Observed byIndonesians
SignificanceMarks the declaration of independence of Indonesia
Date17 August
Next time17 August 2019
Independence Day(IndonesianHari Kemerdekaan, colloquially known as Tujuhbelasan(the seventeenth)) is a national holiday in Indonesia commemorating the anniversary of the Indonesia's Proclamation of Independence on 17 August 1945.[1] It was made a national holiday by then-President Sukarno in 1953.
Ceremonies and festive events are held throughout the country to celebrate this national day, including flag hoistings, local games and neighbourhood competitions, patriotic and cultural parades.[2] Discounts are offered by participating shopping centres or businesses.[3]
On this day, all Indonesian national televisions broadcast the National Independence Day Ceremony live from the Merdeka Palace in Jakarta. Televisions also often air Indonesian patriotic songs, nationalistic-themed films, advertisements, and talkshows.[citation needed]

The obligation to hoist the flag[edit]

The gapura gate in residential area in Jakarta, decorated in patriotic colors to commemorate independence day
Republic of Indonesia Law Number 24 of 2009 concerning the National Flag, National Language, and State Symbols and National Anthem article 7 paragraph 3, obliges the flying of the Red and White flag for every Indonesian citizen in their homes, and also at public institutions, office buildings, educational institutions, public transportation facilities, and private transportation in the country, as well as Indonesian diplomatic offices abroad, on August 17.[4]

Flag hoisting ceremony[edit]

National flag hoisting ceremony held in Merdeka Palace in Jakarta
A national formal flag hoisting ceremony is held at the Merdeka Palace in Jakarta, hosted by the current Indonesian President to reenact the declaration of independence proclaimed by Sukarno in 1945, held in 10.00 a.m, and is broadcast nationwide on radio and television. Certain distinguished guests and VVIPs are invited to attend, including ambassadors and diplomatic guests, former Indonesian presidents, vice presidents and ministers, prominent figures in Indonesian politics, the economy and business, cultural figures including artists and celebrities, and veterans. The declaration is read on this day in public by a representative of the legislative branch.[citation needed]
A national flag lowering ceremony is held later on in the afternoon at the grounds of the palace.

Tujuhbelasan celebrations[edit]

Panjat Pinangcompetition to celebrate the tujuhbelasan
Independence Day is an important public holiday in Indonesia, and is celebrated by Indonesian people in their cities and villages, and also abroad. Colloquially known as tujuhbelasan or 17-an which means "seventeenth" in Indonesian, it is a joyous celebration, as after the flag ceremony in the morning, in the afternoon people usually organise various games and competitions for children and adults.

Children participating in competition to celebrate the tujuhbelasan
Traditional games and competition usually held during tujuhbelasan are:
  • Krupuk-eating race
  • Panjat pinang (climbing greasy poleof pinang tree)
  • Marble in spoon race
  • Gunny sack race
  • Bottle fishing
  • Wooden clog race
  • Musical Chair or fight over seats
  • Tug of war
  • Coin biting
  • Pillow fight
  • Hitting the kendi terracotta jar blindfolded, similar with piñata
  • Slow bicycling
  • Balloon bursting
  • Balloon dance
  • Searching for coins in flour
  • Orange dance
  • Inserting thread into needle race
  • Colouring competition
  • Catching the eel race

Karnaval Kemerdekaan[edit]

Independence parade carnival in Bantul, Yogyakarta
On Independence Day, parades or carnivals, take place on streets in cities and villages across the nation. They might take the form of a modest carnival, organized by local people, where children and sometimes adults wear patriotic clothes, or  traditional ethnic costumes. Some larger parades might be held and organised by provincial, regency or municipal governments, staged in main thoroughfares of cities.
The national main parade called does not usually take place on 17 August, but on the Sunday morning following the anniversary. The parade and carnival usually feature marching bandsdecorative floats, patriotic parades and cultural carnivals featuring traditional costumes of various ethnic groups of Indonesia. They usually start in Merdeka Square by the National Monument, parading through capital main avenues; Thamrin and Sudirman avenues, passing Selamat Datang Monument and the Gelora Bung Karno Sports Complex.
In recent years however, the main national carnival has not been staged in the national capital, but in provinces with regional cities taking turns hosting this national event. In 2017, for example, the national independence carnival was staged in Bandung, West Java.[5]

Tuesday, 13 August 2019

Perth house prices enter ‘crash’ territory

The housing market is showing signs of life but in this city prices continue to fall — and depending on who you ask, have now officially “crashed”.

Frank Chung@franks_chung 1, 201911:01AM


Perth’s housing market has officially entered unofficial “crash” territory.

While most other capital cities stabilised in July, CoreLogic data released on Thursday show dwelling values in the WA capital fell another 0.5 per cent, bringing their total decline to 20.2 per cent from their 2014 peak.

Canberra and Adelaide were the only other capital cities to notch declines over the month, each of 0.3 per cent, while prices in Sydney, Melbourne and Brisbane rose 0.2 per cent — the first monthly increase for the Queensland capital for “quite a while” — Hobart 0.3 per cent and Darwin 0.4 per cent.

The median value in Sydney was $775,978, $619,443 in Melbourne, $484,998 in Brisbane, $427,009 in Adelaide, $441,275 in Perth, $451,191 in Hobart, $395,119 in Darwin and $586,535 in Canberra. The national median was $517,895.

“The fall over the month in Perth was a bit of a benchmark event,” said CoreLogic senior research analyst Cameron Kusher. “Prices have now fallen more than 20 per cent from their peak.”

Mr Kusher said it was expected given Perth’s downward trend but added, “I guess psychologically 20 per cent sounds like a lot more than the teens”, although he declined to call it a “crash”. “I don’t think so,” he said.

“Everyone has a different opinion as to what a crash is, whether it’s 20 per cent, 30 per cent, 40 per cent, but obviously 20 per cent is still significant and once that market recovers it will take some time to recover those losses.”

AMP Capital chief economist Dr Shane Oliver has previously described 20 per cent-plus falls as a “crash”, although there is no technical definition of the term.

Mr Kusher said elsewhere the housing market was showing signs of life. At a national level declines ground to a halt, with the slight gains in five of the eight capitals bringing the overall month-on-month change to 0 per cent.

Perth house prices are down 20 per cent since 2014. Picture: Tourism Western Australia/Fleur BaingerSource:

Growth regions 2009-2019. Source: HometrackSource:

Growth regions 2014-2019. Source: HometrackSource:Supplied

The national index is now down 8.3 per cent since peaking in 2017. “We’re certainly not seeing the national market perform as one,” he said. “We have been seeing a steady slowdown in the rate of decline nationally.”

Prices have been supported by the Coalition’s shock election victory, two interest rate cuts and a change by the prudential regulator to its serviceability floors, but Mr Kusher said weighing against that was the start of Comprehensive Credit Reporting last month.

Under CCR, banks will now have a fuller picture of a customer’s financial situation, including loans with other banks that they may have previously not declared.

“Even though getting a loan is a little bit easier than the last couple of years, it’s still more difficult than it has been historically,” said Mr Kusher. “The questions being asked of borrowers are still more stringent.”

Mr Kusher said that meant it was “going to be a pretty slow recovery”. “We don’t think it’s going to be a V-shaped recovery,” he said.

In a note on Thursday, Dr Oliver said while prices “may have bottomed it’s doubtful that annual price gains are on their way to 10 per cent or so as implied by the past relationship between (auction) clearances and prices and the current level of clearances”.

“The situation today is very different to 2011 when the RBA first started to cut rates in this interest rate cutting cycle which in turn helped unleash booming conditions in the NSW and Victorian economies and rapid debt growth made easy by somewhat lax bank lending standards against a backdrop of undersupplied property markets all of which fuelled rapid growth in Sydney and Melbourne property prices,” he said.

“By contrast today, household debt-to-income ratios are much higher, bank lending standards are much tighter such that a return to rapid growth in interest-only and investor loans is most unlikely, the supply of units has surged pushing Sydney’s rental vacancy rate well above normal levels and unemployment is likely to drift up as overall economic growth remains weak. So we don’t see a return to boom time conditions and expect constrained low single digit price gains through 2020.”

Meanwhile, chief economist Nerida Conisbee described the downturn as a “blip on the radar” over the long term and said buyers looking for growth should “go west”.

“What is particularly interesting is that for houses, the Parramatta region of Sydney has seen the largest price increases over the past decade. Over the past five years it has been Melbourne’s west,” Ms Conisbee said in a note.

“There are two things have pushed up prices in these areas. The first is rapid population growth and the second is not enough building. Sydney’s growth was particularly strong in the five years from June 2009, while Melbourne was less dominant.”

Ms Conisbee said that could be largely explained by low levels of construction in Sydney compared with Melbourne after the GFC. “Sydney’s economy took off but there were not enough homes. Melbourne at this time was better supplied,” she said.

“While historical trends are interesting, the next decade is of greater importance. My tip for top position is again Sydney. Like what happened post-GFC, development in Sydney is currently shutting down, plagued by over supply in pockets, as well as quality issues. Confidence is eroding in the development sector.”

She added, “Sydney won’t see enough development over the next five years and once the economy starts booming again, it will be caught out without enough housing and up will go prices.”

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Monday, 12 August 2019

Hong Kong International Airport may be open this morning.

According to the Hong Kong international airport, official website flights are resuming this morning after being closed for most of yesterday due to thousands of protesters occupying the arrival halls.

This is good news for Hong Kong citizens who have endured over two months of horrific protests leading up to massing of troops in the Chinese border ready to come in and daily life getting out of hand.

Protests may cost Hong Kong bubble to burst.

I've been saying in my seminars, newsletters blogs etc. for the last several years of Hong Kong is a bit coin of the real estate business.

Like Bit Coin prices orbiting into the stratosphere did not make sense. 

It was pure speculation on the part of primarily wealthy Chinese in mainland China wishing to keep their money close to home in a hot market.

That may all come to an as many Chinese families must be contemplating whether they should move out of Hong Kong and may have had enough of these protests. 

I’m expecting a lot of those Chinese to consider Bali only 5 1/2 hours away from Hong Kong where they can buy a beautiful large two-bedroom Villa with swimming 200 m from the beach for as $200,000 U.S.D. 

That amount wouldn’t buy them a garage in Hong Kong. 

See more at www.baliluxuryretirementvillas

#Bali & #World #news #Hong #Kong #Protests #Airport

Indonesia and Bali Celebrates 74 Years of Independence

To our Indonesian families, friends associates, and clients form all 100 + of us at PT. Bali Affordable Lifestyles International, PT. Bali ...