Friday, 30 March 2018

How To Build Your Bali Dream Villa

Ondy Sweeting reads Building Your Bali Dream Villa by Guy Morgan and discovers a wealth of helpful tips on what to do – and more importantly what not to do – when it comes time to build your home here.

When it comes to building an Insta-perfect pad in Bali – there are few who are more informed than the island dwelling architect Guy Morgan.
Guy is an epic design practitioner who is able to take a narrative and massage it into contemporary technologies and unrepentant luxury using vernacular forms and regional traditions. He has worked with a large resort design company on such iconic properties as The Four Seasons Jimbaran – a fabulous building that has withstood the test of time with extraordinary grace and timeless beauty – as well as the Ayung Resort in Ubud and Taj Coral Reef Maldives.
He knows a thing or twenty about building in Bali and has distilled it with co-author Lynne Payne into a no-frills tool, which is a hugely relevant and useful book for anyone considering their first build in Bali. Those into property porn will love it, too as it is not only practical but is full of beautiful images from Morgan’s own labour of love – Tamu Seseh – his private villas on the west coast of Bali
Building Your Bali Dream Villa is a DIY guide to create a sustainable, culturally sensitive and lux villa.
The book outline’s Guy’s early experiences as a newbie who came from Australia via a busy hotel and resort architectural practice in Jakarta. He is candid about the strange challenges such as how to move a temple from your newly acquired land or have your neighbours’ transition their pigs to another part of their property. It also explores how to work in tandem with the village as a concerned partner.
A chapter dedicated to the ‘ABC’ – administration, budget and construction – helps to bring reason about how to handle legalities, construction time, contracts, shanty towns that pop up as workers accommodation and how to manage time delays during the wet season.
Unsurprisingly design elements are a large component of the book with a ‘Design Diary’ running across two chapters kicking off as a guide to developing a brief and how to secure the right architect through to explorations – and revelations – about every possible room found in a Bali villa. This includes service areas, staff kitchens and maid quarters as much as living space, bedrooms, bathrooms and where security staff should be posted. He uncovers the importance of proper ventilation, floor covering issues, waste management and temple placement. There is a chapter on windows, walls, finishes and fans. Every page has a ‘notes’ section for users to annotate.
Building Your Bali Dream Villa is persuasive manifesto for being true to the beautiful residential style of Bali and the way traditional homes are built and how new builds can honour these ancient traditions in a sustainable way.

Thursday, 29 March 2018

China investment in Malaysia may double by 2025


Nearly three quarters (71.6 per cent) of China overseas investors own residential property overseas.

By K.BEGUM - March 29, 2018 @ 11:52am

China investment in Malaysia’s residential real estate could double by 2025, driven by the investment market and education, according to Juwai.Com.

“It is not unrealistic... the Credit Suisse Global Wealth 2016 report shows that there are now 1.6 million US dollar millionaires in mainland China.

“Because of their prosperity, these individuals dominate the buying of international property,” said Juwai.Com chief executive officer Carrie Law in a report entitled “Belt and Road drives Chinese real estate investment in Malaysia”.

The report also stated that the China buyers currently held A$13 trillion (RM39.26 trillion) of assets, up by about 16 per cent per year, from A$5.3 trillion in 2011.

On a population-wide scale, wealth per adult has more than quadrupled over the past six years in China. Real property today accounts for 53 per cent of wealth held by China adults.



Juwai.Com said the average monthly views for properties in Malaysia on its platform grew to 21.3 per cent in the first half of last year, from 3.7 per cent in the first half of 2016. Property enquiries more than tripled since 2015 with a median enquiry price of US$235,000 (RM918,850) as at in the first half of last year.

Consumers enquiring about Malaysia in the first half of last year were driven by investment (65.4 per cent), own use (58.5 per cent), education (9.9 per cent) and emigration (3.7 per cent).

Law said compared with other parts of Southeast Asia, Malaysia attracted more buyers from China.

“They are purchasing for their own use, including for the purposes of housing their children who are studying abroad in Malaysia,” said Law.

He also said relative to the global average, Malaysia also attracted more investment-oriented buyers.

In a survey earlier this year, China overseas investors named residential property their favourite asset class.

Nearly three quarters (71.6 per cent) of China overseas investors own residential property overseas. More than 60 per cent intend to invest in real estate overseas by 2020.

“In the case of Malaysia, if macro market and regulatory conditions remain positive, the global trends discussed above will drive growing China investment in local property,” said Law.

Young Aussies are scrambling to buy cheap properties in Asia

Bali news and views editor's comments: 

As the article points out below Australians. specifically young Australians are being to buy throughout Asia and Bali is definitely on their hit list. 

Add this new demand to huge increases in Chinese tourists, plus huge increases in baby boomers wanting to retire in Bali and we have all the ingredients for huge market move the next 5 to 10 years.

I am so convinced I'm looking to buy more properties for myself right now after a four-year downturn which is brought prices down as much is 50%.

Check out our current properties for sale at Best Asia Real Estate. 
______________________________________

FOREIGNERS did it here, now Aussies are returning the favour. Home prices in Asia’s second largest economy have been growing as young Aussies outbid locals for homes, seizing on chances to bag 22-room homes for as little as $196k.
AIDAN DEVINE
The Daily TelegraphMARCH 29, 201812:00AM



Aussie Matt Gillespie bought a 22-room property in Japan for just $196,000.Source:Supplied

ASIA-based investors may have developed a controversial love affair with Australian real estate but the affections appear to be running both ways.


New research shows a growing number of young Australians have been snapping up homes in Asian countries, capitalising on lower prices and higher rental returns compared to property Down Under.

Aussie investors’ main target has been Japan — the region’s most mature economy and the world’s third richest country by nominal GDP.

ASX listed international transfer company OFX noted transaction activity from Australian dollars into Japanese Yen increased by 39 per cent over 2015-2017.


Aussie investor Matt Gillespie's property The Ranch where he operates his company Hakuba Ski Tours.Source:Supplied

The company estimated nearly 60 per cent of the transactions were related to property investment.

OFX chief operations officer Adam Smith said Millennials accounted for a large share of the Australian investment into Japan.

“Overseas property purchasing by most age groups of Australians has been on a gradual decline since 2013, (but) 18 to 30-year-old Australians have maintained a steady increase,” Mr Smith said.


OFX's Michael Judge said Millennials often saw overseas investments as a stepping stone towards owning a home in Australia.Source:Supplied

The average rate of increase in millennial transaction activity was about 23 per cent each year, monitored over five years, he added.

Queenslander Matt Gillespie, 30, was among the Millennials who recently bought property in Japan.



Mr Gillespie said he was enticed by the cheap prices — he was able to secure a 22-room ski resort in the region near where the 1998 Winter Olympics were held for just $196,000. Prices in the area are now worth about $100,000 more than when he purchased 19 months ago.

Andrew Wilson talks about first home buyers


The price was low enough for him to pay in cash, which he stumped up by selling his Sunshine Coast home and a share in a small business.

“It would have been great to buy a lodge in somewhere like Canada but there was no way I’d be able to afford that,” he said.

“Japan appealed to me because it was really cheap and the prices have gone up since I bought.


Japanese real estate is considered undervalued because prices are low relative to locals’ incomes.Source:Supplied

“I also liked Japan because even though you won’t get financing from the banks, there are no restrictions on what you can purchase because of the trade agreements we have with Japan.”

Mr Gillespie said most of the neighbours of his lodge The Ranch were other Aussies. “It feels like the area is transforming. There are a lot of Australians buying in the area.”

Australian purchases of overseas properties were strongly correlated with fluctuations in the exchange rate, according to OFX.


Much of the Aussie interest in Japanese real estate has been focused on the ski tourism sector. Picture: Hakuba Snow ToursSource:Supplied

“Purchasers are being savvy, timing their acquisitions at moments where their dollars are working hardest against foreign currencies,” Mr Smith said. “When the Australian dollar is strong against the Japanese Yen, for example, we see an increase in property related transfers to Japan.”

OFX head of corporate dealing Michael Judge said Asian real estate was appealing to Aussie investors because it was generally undervalued, particularly in Japan.

By contrast, the Organisation for Economic Cooperation and Development has suggested Australian house prices are somewhat overvalued.

“I think ideally, the Millennials buying in Japan would like to own real estate in Australia, but they see an overseas investment as a potential stepping stone,” Mr Judge said. “Millennials want to build their wealth and have a global outlook.”

Originally published as Aussies snapping up homes in Asia

Hong Kong’s February lived-in home prices rise at the fastest pace in 10 months

 PUBLISHED : Thursday, 29 March, 2018, 12:11pm

UPDATED : Thursday, 29 March, 2018, 11:21pm





The prices of lived-in homes in Hong Kong soared last month at their fastest pace in 10 months, as buyers rushed to get ahead of an expected increase in mortgage rates, while a shortage of available properties forced buyers to raise their bids in the world’s most expensive real estate market.


An index of secondary market home prices rose 5.8 points, or by 1.6 per cent, to 364.1 in February, according to data released by the Rating and Valuation Department, faster than the 1.53 per cent gain in January. The rental index rebounded by 0.1 per cent to 187.5, illustrating an increase in leasing costs, the data showed.

Average PH home prices up 3.6% in ’17



By: Daxim L. Lucas- Reporter / @daxinq
Philippine Daily Inquirer / 05:18 AM March 29, 2018

Residential real estate prices rose by 5.7 percent year-on-year in the fourth quarter of 2017 as the Residential Real Estate Price Index increased to 117.4 from 111.1 in the same quarter a year ago, the Bangko Sentral ng Pilipinas (BSP) said.

In a statement, the BSP said that year-on-year, prices of townhouses and condominium units grew faster at 8.1 percent and 14.2 percent compared to the previous quarter, respectively.

Meanwhile, prices of single detached housing units declined slightly by 0.3 percent. Quarter-on-quarter, the real estate price index also went up by 5.2 percent.

Bali Celebrates Good Friday - Easter Weekend with Full Moon and last Blue Moon until 2020

On Behalf of My Family and our 140 staff at PT Bali Affordable Lifestyles International and PT Bali Luxury Villas as well as our new division Best Asia Real Estate we want to wish all our Christian friends, associates, clients and readers


A Very Happy Easter

Tonight, Good Friday will be an exceptional Good Friday because it also includes a full moon and the last Blue Moon until 2020.

We look forward to seeing the blue Moon later tonight from our Bali paradise Estates which is known by the locals as Pantai Purnama or Full Moon Beach.
Full moon at  Bali paradise Beach Estates

If last night was any indication of what tonight will look like it's going to be spectacular.

Saturday's Blue Moon Is the Last One Until 2020 (Don't Miss It!)
By Mike Wall, Space.com Senior Writer | March 29, 2018 07:11am ET




Skywatchers take note: The last Blue Moon of 2018 is just around the corner. If you miss it, you'll have to wait to 2020 for the next one.

The upcoming Blue Moon — the name given to the second full moon to occur in a single calendar month — rises on Saturday (March 31). It'll be the second Blue Moon of the year; the first occurred on Jan. 31, when we experienced the "Super Blue Blood Moon Lunar Eclipse."

If you're a Blue Moon fan, make sure to get an eyeful on Saturday; the next one won't come until Halloween night in 2020, according to the Weather Channel.


An airplane flies in front of the Blue Moon of July 31, 2015, in this photo captured by skywatcher Chris Jankowski of Erie, Pennsylvania.Credit: Chris Jankowski

Thought to be called "blue" after an old english term meaning "betrayer," a Blue Moon is an extra full moon that occurs due to a quirk of the calendar. [See the full Blue Moon Infographic here.]Credit: Karl Tate, SPACE.com

Blue Moons aren't actually blue, and they don't look different from any other full moon in the sky. 


The term, which has been around for hundreds of years, apparently originally signified something that's absurd, but then shifted over time to refer to exceedingly rare events, Philip Hiscock wrote in a 2012 article for Sky & Telescope. (Interestingly, a Blue Moon previously meant the third full moon in a season that had four of them. 

This sense of an "extra" full moon morphed into the definition most people recognize today. Language is a slippery and changeable thing!)

But Blue Moons aren't all that rare, really: On average, they occur about once every 2.7 years. Blue Moons are possible because it takes Earth's nearest neighbor 29.5 days to circle our planet, but each calendar month (except February) contains 30 or 31 days.

Editor's note: If you capture an amazing photo of the Blue Moon or any other celestial sight and would like to share it with Space.com for a story or gallery, send images and comments to managing editor Tariq Malik at spacephotos@space.com.

Follow Mike Wall on Twitter @michaeldwall and Google+. Follow us @SpacedotcomFacebook or Google+. Originally published on Space.com.

Easter

From Wikipedia, the free encyclopedia
will
This article is about the Christian and cultural festival. For other uses, see Easter (disambiguation).
Easter (Pasch / Resurrection Sunday)
Resurrection (24).jpg
Icon of the Resurrection, with Christ, having kicked down the gates of Hades and pulling Adam and Eve out of the tombs. Christ is flanked by saints, and Satan, depicted as an old man, is bound and chained. (See Resurrection of Jesus in Christian art.)
TypeChristian, cultural
SignificanceCelebrates the resurrection of Jesus
CelebrationsChurch services, festive family meals,Easter egg decoration, and gift-giving
ObservancesPrayerall-night vigilsunrise service
2015 date5 April (Western)
12 April (Eastern)
2016 date27 March (Western)
1 May (Eastern)
2017 date16 April (Western)
16 April (Eastern)
Related toPassover, of which it is regarded the Christian fulfillment; Septuagesima,SexagesimaQuinquagesimaShrove TuesdayAsh WednesdayClean MondayLentGreat LentPalm SundayHoly WeekMaundy ThursdayGood Friday, and Holy Saturday which lead up to Easter; andThomas SundayAscension,PentecostTrinity Sunday, and Corpus Christi which follow it.
Easter,[nb 1] also called Pasch[nb 2] or Resurrection Sunday,[nb 3] is a festival and holiday celebrating theresurrection of Jesus Christ from the dead, described in the New Testament as having occurred on the third day of his burial after his crucifixion by Romans at Calvary c. 30 AD.[5][6] It is the culmination of the Passion of Christ, preceded by Lent (or Great Lent), a forty-day period of fasting, prayer, and penance.
The week before Easter is called Holy Week, and it contains the days of the Easter Triduum, including Maundy Thursday, commemorating the Maundy and Last Supper,[7][8] as well as Good Friday, commemorating thecrucifixion and death of Jesus.[9] In western Christianity, Eastertide, the Easter Season, begins on Easter Sunday and lasts seven weeks, ending with the coming of the fiftieth day, Pentecost Sunday. In Orthodoxy, the season of Pascha begins on Pascha and ends with the coming of the fortieth day, the Feast of the Ascension.
Easter and the holidays that are related to it are moveable feasts which do not fall on a fixed date in theGregorian or Julian calendars which follow only the cycle of the sun; rather, its date is determined on alunisolar calendar similar to the Hebrew calendar. The First Council of Nicaea (325) established two rules, independence of the Jewish calendar and worldwide uniformity, which were the only rules for Easter explicitly laid down by the council. No details for the computation were specified; these were worked out in practice, a process that took centuries and generated a number of controversies. It has come to be the first Sunday after the ecclesiastical full moon that occurs on or soonest after 21 March,[10] but calculations vary in East andWest.
Easter is linked to the Jewish Passover by much of its symbolism, as well as by its position in the calendar. In many languages, the words for "Easter" and "Passover" are identical or very similar.[11] Easter customs vary across the Christian world, and include sunrise services, exclaiming the Paschal greetingclipping the church,[12] and decorating Easter eggs, a symbol of the empty tomb.[13][14][15] The Easter lily, a symbol of the resurrection,[16][17] traditionally decorates the chancel area of churches on this day and for the rest of Eastertide.[18] Additional customs that have become associated with Easter and are observed by both Christians and some non-Christians include egg hunting, the Easter Bunny, and Easter parades.[19][20][21]There are also various traditional Easter foods that vary regionally.

Tuesday, 27 March 2018

Australian housing market ‘sleepwalking into disaster’


Jason Murphy, news.com.auMarch 24, 2018 8:00am


AUSTRALIA, we are getting complacent.

In this country, the big lesson of the last few generations is that house prices always go up. That lesson has been learned, passed on, reinforced by experience and passed on again. Generations of Australians have grown rich and comfortable by sinking their earnings into real estate.

Parents encouraged their kids to get a house and even sometimes helped fund it. Getting into the biggest possible mortgage has been terrific advice. For just about every Australian adult with a mortgage the house was worth far more than the debt you took on to buy it after just a short while.Sydney house prices are up nearly tenfold since 1986.

Meanwhile, investment properties have been a good idea, and a big fat debt funded portfolio of investment properties has been a ticket to early retirement.

We are not too concerned by the recent news that house prices have faded a little bit in Sydney. No matter how many articles may have warned of the dangers of a big house price crash, true experience has been stronger. House prices go up. Australians know this to be true, because that’s what the evidence keeps showing them.

Across the country, house prices are up over sevenfold since 1986. In Sydney, it’s nearly ten fold. (So a house that cost $100,000 32 years ago now costs nearly a million.)

The following graph shows price growth is happening at a hectic pace, especially in Sydney, the hottest market in the country.National vs. Sydney house prices.

As an Australian, I find this graphic concerning. If I lived in Sydney I’d be downright frightened. It’s only a rule of thumb, but when graphs go vertical like the Sydney one has, it can be a sign things aren’t too sustainable.

The lessons that brought profit to previous generation could harm the next one. Any parents encouraging their kids to get into property now should proceed very carefully.

WHEN UP TURNS TO DOWN

Asset prices fluctuate. It happens to stock markets, paintings, commercial property, gold, bitcoin, and bonds. They go up and down. Sometimes they fall calamitously. Crashes happen to house prices too. We have seen them in Europe, North America and Asia, and even, a long time ago, in Australia.

Check out the peak house prices hit in 1890 in Sydney and Melbourne. They went up to almost $100,000 (in inflation adjusted terms). It took another sixty years for prices to rise above this level again.A look at historical house prices.

Source: Stapledon 2012.

In the same way you can have a once in 100-year flood, or a once in 100-year fire, we can have a once in 100-year house price crash. What makes rare events so debilitating is that we’ve forgotten how to prepare for them. Very rare events are the most dangerous. Once all the people who lived through something die off, we get complacent.

Like, for example, the enormous earthquake that is due to take out Seattle. Geologists only recently discovered the city is built on an unusual kind of fault-line — one that goes off rarely but goes off big when it does. It last went off before any western people lived in the area, and nobody was sure what to make of the stories of the local indigenous people before when they told tales of a great flood many generations earlier (now known to have been caused by a huge tsunami).

In a way it’s silly to look so far back for examples of house prices falling. It has already happened in Perth and Darwin, where prices have sunk 12 per cent and 17 per cent respectively since 2014.


WE ARE … UNUSUAL

Australia’s belief in the inevitability of house price growth may be a special case. We hold the record — 50 years — for the longest house price rise in history. On average, house prices in advanced economies go down after 12 years of going up. And when they fall they do so for an average of five years, but the record is 18 years of falling house prices (in Japan).Upswings and downswings of house prices.

DATA: Bank of International Settlements 2017.

Australia hasn’t had a five-year period where national house prices go backwards for a couple of generations. The memory of it is almost forgotten and we’ve started to believe it won’t happen here. And that just makes us all the more vulnerable.

Originally published as We’re ‘sleepwalking into disaster’

IMyanmarHouse to make buying foreign properties easier



By Marian Jacob
In Real Estate
26 Mar 2018

IMyanmarHouse is in the process of forming sales partnerships with foreign real estate companies from Singapore, Thailand, Malaysia, and China.


Nay Min Thu

Founder Nay Min Thu (Linkedin profile) explained: “Singapore, Thailand, Malaysia, and China are our top-priority countries since they have close trading relations with Myanmar. At this point in time, we can’t divulge who we are in talks with. But what I can tell is that those are the top real estate companies in their respective countries.”

Having already partnered with Angel Real Estate Company from Thailand, the company will be cross-promoting new real estate development projects from both countries; implying that IMyanmarHouse.com will be the exclusive sales and marketing agent for Thailand properties, and vice versa.

As the first step in this collaboration, IMyanmarHouse hosted a sales event for a Bangkok condominium project called Plum 89 Condo at Novotel Hotel in Yangon earlier this month. The company said this is the first time an overseas condo project was marketed and sold to Myanmar customers on a large scale. A total of 20 units were sold during the event.

“It was a successful sales event, considering that people from Myanmar are not used to buying properties abroad. Likewise, we will be marketing and selling properties from Myanmar to Thai people.”

IMyanmarHouse pioneered the online-to-offline model for the real estate market in Myanmar. Property buyers browse and filter the various property choices online; using search criteria like location, price range, and property type. The buyers then come down to physical sales events, view the properties in person and make the final purchase decision. This concept has worked well for the company and for the Myanmar market since it saves time and effort for potential property buyers. IMyanmarHouse has been successfully using this model since 2016.

IMyanmarHouse is backed by Frontier Digital Ventures (FDV: ASX). Headquartered in Kuala Lumpur, Malaysia, Frontier DV invests in companies in emerging markets for their long-term growth potential.

Sunday, 25 March 2018

Higher Singapore buyer’s stamp duty a wealth tax with mixed impact on the property market


Commentary:


The higher buyer’s stamp duty may jolt property prices, says director of the Institute of Real Estate Studies at the National University of Singapore.

By Sing Tien Foo25 Mar 2018 06:28AM (Updated: 25 Mar 2018 06:30AM)

SINGAPORE: One of the biggest purchase for most Singaporeans, it’s no surprise many watch property prices closely like hawks.

Yet the recent announcement of a 1 per cent hike on the Buyer’s Stamp Duty (BSD) on the top slice of residential properties in excess of S$1 million announced at Budget 2018 caught most by surprise, including many industry watchers.

For years, many had expected authorities to lift cooling measures, including the additional buyer’s stamp duty (ABSD).

Its immediate effect was seen in a tumble of 1.7 per cent in the FTSE Straits Times Real Estate Holding and Development Index, the benchmark indicator for real estate developers.

Shares of property developers such as CDL, UOL Group, Wing Tai and CapitaLand also dropped by between 1.9 per cent and 3.3 per cent the following day.

Nonetheless, most experts say the additional BSD is unlikely to dampen the current buying momentum as recovery in the private residential property market is expected to persist.
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Some however caution the negative impact on sale prices for big-ticket projects, including en bloc and the Government’s land sales (or GLS).

Mid-tiered and high-end properties may feel the impact most severely, compared to the mass-market segment.

Regardless of the short-term impact, we can expect the hike to stay in place for the long term. So buyers should expect to pay more BSD out of their pockets in the long run, as property prices continue on their upward trend.




image: data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==Marine Blue condominium at Marine Parade. (Photo: Rachel Phua)




INCREMENTAL TAX MOST KEENLY FELT BY PRIVATE HOUSING MARKET

While the impact will largely be felt by the private housing market, the increase could also affect selected HDB flats in neighbourhoods of high demand, such as Bishan, Dawson and Duxton (the Pinnacle) where apartments have been transacted for more than S$1 million in the resale market.

Contrary to popular perceptions, executive condominiums are not expected to be as severely impacted. The mean price for ECs was estimated at S$819,795 in 2017. Based on 3,501 EC transacted in 2017, only the top 90 percentile of EC transactions exceeded the S$1 million mark.

Unsurprisingly, the average apartment in the non-landed private housing residential market was sold above the S$1 million since 2015 so we can expect buyers in this market to bear the brunt of the new marginal BSD rate.

While those who bear the brunt of the taxes in absolute terms are buyers of luxury and other high-tiered property costing millions, its greatest marginal impact is on those who buy property just above the S$1 million mark.

The effect of the new BSD is that a 6.54 per cent increase in BSD paid for a property of S$1.2 million, compared to 27.67 per cent for a S$5 million property.




image: data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==The rooftop garden of Dawson estate. (Photo: Wendy Wong)




SYNONYMOUS TO A WEALTH TAX

Unlike the ABSD introduced in 2013, which has targeted foreign and Singapore Permanent Resident buyers, as well as Singapore citizens who buy two or more properties, the BSD will apply to residential properties purchases by all buyers.

Given its progressive nature, the skewed effects on higher-end properties, it is largely synonymous to a tax on wealth.

Yet the amount it generates for Government coffers is modest.

Based on 15,059 private non-landed properties transacted as in 2017 at an average price of S$1,474,992, we estimate the BSD tax hike could generate an increase in tax revenue of approximately S$71.5 million per year.

However, this figure does not include increase in BSD tax revenue from en bloc and GLS transactions.

POSSIBLE COOLING IMPACT ON HOUSING PRICES

Despite the fact the market in general does not view the BSD as a new cooling measure, most analysts do not disagree that the BSD would introduce some friction, especially in the en bloc sale market. It would increase the total acquisition costs for residential lands, whether via the en bloc market or the GLS programme.

Where private housing prices are generally price inelastic, if the higher land acquisition costs are passed on by developers to buyers, prices of new launches are expected to increase.

However, in a market, where supply outstrips demand, it will be harder for developers to ask buyers to fully absorb the increases in BSD costs. In this case, where developers have to absorb the increases in BSD costs, most may reduce their bids for en bloc and GLS lands.

So this BSD hike may result in a downward spiral effect on property prices.

It is more likely that the brunt of the marginal BSD will be shared between sellers and buyers – where transaction prices will not fully price in the marginal BSD.

If this effect of a higher BSD causing housing price to decline becomes prevalent, sellers may agree to sell houses at below the valuation price, as a way to offset buyers’ transaction costs.

The jury is still out when it comes to a conclusive verdict on how the residential property market will react to the BSD. Prices could swing both ways. And effects vary depending on which part of the market you’re in.

In a sellers’ market where developers pass on higher land costs to buyers, the price could increase with the BSD rate hike. However, in a market with elastic demand, we should expect sellers to offset the BSD costs with lower prices.

The real differential may be in the response between credit-constrained and unconstrained buyers flushed with wealth – something housing policymakers and industry watchers will in turn be watching like a hawk over the next six to 12 months.

The one thing certain is that this new means to generate tax revenue in an equitable, progressive and sustainable manner is one that housing policymakers will likely retain for the long term and will not be so easily wished away.

Sing Tien Foo is the Dean’s Chair Associate Professor and Director of the Institute of Real Estate Studies (IRES) at National University of Singapore (NUS).


Read more at https://www.channelnewsasia.com/news/singapore/higher-buyer-stamp-duty-wealth-tax-property-market-mixed-impact-10071190

Thursday, 22 March 2018

Bali Ranked # 1 out of Top 25 Destinations — Asia

Bali news and views editor's comments: Bali ranked #1 in Asia.




Once again Bali has been listed in TripAdvisor's top 25 destinations in the Asia and is ranked # 1 out of 25. 

When you consider that tourism dropped significantly last year for four months prior to Christmas because of volcano fears, which have now been alleviated, I am amazed that we achieved that ranking.

One of the main reasons TripAdvisor's readers have made Bali their fourth most sought after destination is because of the cost of staying in Bali is minuscule compared to other resort areas around the world. 

For example you can stay in a luxurious huge two or three bedroom villa with private swimming pool and private housekeeper eight hours a day plus free laundry for as little $128 per night ( $21 Per person for a 3 bedroom 450 m2, 5,000 sq. ft. Villa.
This huge four-bedroom with 14 m private swimming 
pool only hundred and $138 + +


Check out our  luxury villas at Bali Luxury Villas Sanur managed by our TripAdvisor Hall of Fame award winning, 12 year old, 139 staffed comapany which places us among the top 2% of villas and hotels listed on TripAdvisor worldwide.


Top 25 Destinations — Asia

AUSTRALIAWORLDREGIONS













Bali, Indonesia

Bali is a living postcard, an Indonesian paradise that feels like a fantasy.... more

Don't miss

Waterbom Bali
Mayong Cultural Walk
Tirta Gangga


All 5898 things to do











Phuket, Thailand


Phuket offers a rainbow spectrum of spectacular holiday sights from blue lagoons... more


Don't miss

Kata Noi Beach
Freedom Beach
Soi Dog Foundation


All 1517 things to do












Hanoi, Vietnam

The charming Vietnamese capital has aged well, preserving the Old Quarter,... more

Old Quarter
Vietnamese Women's Museum
Vietnam Museum of Ethnology


All 1689 things to do














Siem Reap, Cambodia


When the morning light washes over the overgrown temples and ruins of Angkor... more

Don't miss

Angkor Wat
Bayon Temple
Angkor Archaeological Park

All 1631 things to do










Tokyo, Japan

Tokyo can't be judged from the outside, since those expecting ancient monuments... more

Senso-ji Temple
Tokyo National Museum
Meiji Jingu Shrine

All 7695 things to do










Perth's four-year housing bust is nothing like what Sydney and Melbourne's property markets face

Best Asia Real Estate Editor's comments: Editor Lawrence with wife Azizah and son Darius  on Bondi Beach Sydney July 2018 Perth...