Wednesday, 28 November 2018

Experts state Middle class are driving Indonesia's property sector

The REI Mandiri Property Expo 2018 targets the young and increasingly mobile middle class with affordable housing opportunities from around the country including Bali.


Photo by Ditjen Penyediaan Perumahan
From L - R; Ignatius Susatyo Wijoyo, Executive Vice President Bank Mandiri; Donsuwan Simatupang, Direktur Retail Banking Bank Mandiri; Khalawi AH, Dirjen Penyediaan Perumahan Kementerian PUPR; Paulus Totok Lusida, Sekjen DPP REI and Ikang Fawzi, Wakil Ketua Umum DPP REI Bidang Komunikasi speaking at the REI Mandiri Property Expo 2018.


Indonesia's middle class is driving the property sector said General Chair of Indonesia Real Estate (REI), Soelaeman Soemawinata at the opening of the REI Mandiri Property Expo 2018 in Jakarta recently.

According to local news wires, most of REI's members are developers targeting the middle class providing medium-scale, affordable housing. This year's Expo has the theme 'Dream Home Becomes Reality' and by all accounts turn out has been good with young couples showing interest from day one.

40 developers in locations around the country, including Bali, are offering more than 120 housing projects. Bank Mandiri's Millennial Mortgage Programme (KPR), is providing the financial keys and support by tempting the young middle class with no down payments, minor installments, a tenure of up to 30 years, higher lending limits and 5-year fixed interest rates.

The REI Mandiri Property Expo 2018, is part of REI's larger commitment to the government to promote the industry by building livable and more affordable homes.

Along with door prizes such as BMW's, Mini Coopers, iPhones and competitions for kids, there are also daily talk shows about property in Indonesia aimed at instilling greater confidence in the industry with guest speakers from the government and developers.

The REI Mandiri Property Expo 2018 runs until November 25 at the Jakarta Convention Centre.

Sources: Tribun News, Warta Ekonomi, Liputan6, Tempo, Detik, REI, Netral News, Indo News, PU-Net

Similar to this:

Foreign investment opportunities in Indonesian property sector continue to grow

Real Estate Indonesia say non-subsidized mortgage slowdown caused by tax rules

Bali's Bank Mandiri targets IDR 1 trillion in housing loans in 2018

Best Asia real estate editor's comments:
Editor Lawrence dictating newsletter in Macau, China, 2016

As my longtime readers are well aware I've bullish on Indonesian  Real estate for a little over a year now after a four year downturn.

The fact is that the Australian economy is not that good as a result of China's economic trade wars which are ripping into domestic incomes leaving few available to buy Australia's overpriced real estate.

I believe this may very well may be the start of increase  in  prices which will go up exponentially.

"May be the start of a huge exponential increase in select Indonesian real estate prices."

Before it's all over average home prices in Indonesia hottest markets could go up 20% to 50%.

I highly recommend anyone who does not own select Indonesian especially Bali real estate to get in now.

 I personally have started to buy Bali real estate for the first time in six years, after I forecast a downturn back in 2014.

I will to be talking extensively about this at a series of free seminars coming up on January 17th. and 19th. in Bali.

If you can't make my seminars you can contact me direct to find out how you two can get in on low prices in Bali which are down 20% to 50% from 2014 highs and starting back up now.

Discover why I call this the second-best buying opportunity this century

See details of seminar below.

Earn 10% to 20% per annum. The second best time to buy Bali real estate this century

Buyers, sellers, brokers, agents, investors, lessors or renters will benefit from attending one of our two free Real Estate Seminars in Bali in January.





Free Seminar Schedules: Dates & Times: 1. Thurs. Jan 17th. 6:30 PM to 7:45 PM or 2.  Sat. - Jan. 19th. 2:00 PM - 3:15 PM.

Location: Bali, Emerald Villas, Jl. Karangsari, # 5, Sanur, Bali, Indonesia.

Seminar Topics: At these seminars you will learn about:

Ø The Past, Present and Future of Bali Real Estate.
Ø Clarification of laws allowing foreigners total control up to 80 years.
Ø How to avoid legal problems and make sure a property is safe.
Ø How to avoid complicated laws - Indonesians married to foreigners.
Ø Why this is the second-best time to buy this century.
Ø Where are the best locations to buy for maximum profits?
Ø What properties offer the potential of *10% to 20 % per year?
Ø Discover how you can sell your property fast for the highest prices and lowest commissions on a brand-new web site.
Ø  Free listing on B.A.R.E. 
Ø First Class Beachfront property at almost 50% discount.
Ø Low cost properties with Luxury Villas starting as low as $158,000 for a three-bedroom 650 m² 3-bedroom, 4 baths with private 9 mtr. Pool.
Ø Ridiculously low-priced ocean view building lots $25,000 for 500 m².
Ø Brand new Bali Luxury Retirement Villas starting at $198,000.

Limited Seating & Free Parking: 
Seating is very limited for these free seminars so please avoid disappointment and make reservations A.S.A.P. Click Here For a Reservation Or Email: seminarsptbali@gmail.com or Tel: Office: 62-361- 284069 – Bahasa Indonesia  62-8123632177

Tuesday, 27 November 2018

Why people with $1.5 million dollar Australian homes are ‘unhappy’


People living in NSW who own properties worth more than $1.5 million are among the unhappiest in the country.

Frank Chung@franks_chung
news.com.auNOVEMBER 21, 20182:42PM

House prices: Australia's property market facing longest downturn in decades


Altona Meadows is the “happiest” place in Australia.

The western Melbourne suburb has the highest number of homeowners who sold their properties for more than they were expecting, according to data from RateMyAgent.

The real estate agent review website asked 30,000 sellers over the past two months whether their sale price was in line, above or below expectations, with 63 per cent saying they were satisfied, 31 per cent happy and just six per cent unhappy.

The Perth suburb of Canning Vale was the “unhappiest” place, reporting the highest percentage of homeowners who sold for below their expected price, followed by Bundeena and Castle Hill in NSW.

In general, the more expensive the property, the less satisfied the owner was with the sale price. NSW homeowners were the least happy, reporting the highest levels of below-expectation prices.

That was consistent with the Sydney property market coming off the most — prices are now down 8.2 per cent from their peak in August last year — and “the most pain” is being felt around the $1.5 million price level.

“In dollar terms the growth has had a much greater effect at those higher price points, so now the market’s coming back a bit, I think psychologically people are looking at the dollars and thinking, ‘Wow, I’m missing out’,” said RateMyAgent co-founder Mark Armstrong.

“When a market softens the top end of the market gets hit really hard. That $5-10 million sector, when the market softens there is no market, 0.1 per cent of the population can afford to buy a $5 million property.”

He said the market “finds solid ground” at lower price points. “More people can afford a $500,000 property than a $1.5 million property. In a sense there’s safety in numbers, it’s a stronger market there.”

Homeowners achieving the highest above-expectation prices fell in the sub-$1 million bracket in NSW, $400,000-$600,000 in Victoria and $400,000-$800,000 in Queensland. The happiest sellers were in the ACT, Tasmania and Victoria.

HEART OF THE PROBLEM

RateMyAgent says it wanted to track the “very human” piece of data amid an “oversupply” of information about the property market.

“When you cut away all the fat, you’re left with the main question sellers are most worried about, ‘Did I sell my property for as much as I could?’” Mr Armstrong said. “We wanted to build a metric that was very unique that no one else was capturing.”

The fact that the majority of people sold their property in line with their expectations is “perhaps a reflection of homeowners already adjusting their expectations accordingly” in the softening property market.

Mr Armstrong said real estate agents also played a big role in setting expectations.

“You can have one agent who says, ‘We’ll definitely get $1 million for this property but I’m going to try and get as high above $1 million as possible.’ Then you have another that says, ‘I think we can get $1.2 million for this property,’” he said.

“The first agent has been more realistic, the second has essentially bought the listing. It’s very hard for a consumer to knock back an agent who says he can get $200,000 more than the other guy. When it sells for $1.1 million, the price point is exactly the same but you’ve got one happy and one unhappy customer.”

RateMyAgent was launched four years ago and now claims to be used by 27,000 real estate agents, roughly three quarters of all agents in the country, with reviews from homeowners for one in three properties sold across Australia.

The company faced criticism for its invite-by-agent-only review model resulting in virtually no negative feedback on the site, but that was changed early this year to open up the platform to anyone who has bought or sold a property with the agent.

It comes as debate rages about how far house prices still have to fall, with predictions ranging from five per cent top-to-bottom to more than 30 per cent in extreme scenarios.

Tightening lending standards in the wake of the banking royal commission and Labor’s planned cutbacks to tax breaks for property investors are expected to put further pressure on prices.

AUCTION HEARTBREAK

Auction clearance rates in the two major capitals are now hovering at multi-year lows of between 40-50 per cent.

Earlier this month, a Sydney couple said they were “heartbroken” after a Chatswood home that had been in the family for 93 years passed in at auction.

Just two bidders for what until recently would have been a “hot auction” couldn’t be enticed anywhere near the $1.75 million reserve for Chris and Brad Kerr’s three-bedroom California bungalow.

“Last year our vendors might have got $2.4 million for this but now we’re having to ask them to consider $800,000 less than that,” Standen Estate Agents’ Karen Davis told The Sunday Telegraph.

Mrs Kerr’s mother, who passed away last year, lived in the house until she moved into a nursing home four years ago. “Yes we are heartbroken,” she told the paper. “We expected to get something more reasonable than this. This is garbage.”

MacroBusiness founder Leith van Onselen said the comments were like reading The Onion. “Chatswood is, of course, the nation’s most popular suburb for Chinese buyers,” he wrote.

“So what Ms Kerr is really ‘heartbroken’ about is the fact that Chinese capital flows have evaporated and Sydney’s real estate is not being sold off to the same extent as it was before, to the detriment of young first home buyers locked out of the market.”

frank.chung@news.com.au


Best Asia real estate editor's comments:
Editor Lawrence dictating newsletter in Macau, China, 2016

As my longtime readers are well aware I've been warning of a bubble in Australian Real estate for some time.

Now it's heading down.

The fact is that the Australian economy is not that good as a result of China's economic trade wars which are ripping into domestic incomes leaving few available to buy Australia's overpriced real estate.

I believe this may very well may be the start of a huge drop in  prices which will go down exponentially.

"May be the start of a huge exponential drop in Melbourne real estate prices."

Before it's all over Melbourne average home prices could go down 20% to 50%.

I highly recommend anyone who owns Melbourne real estate to get out now.

There are much greener pastures in Asia with a cost of  living that is 62 % less than Melbourne

The place that I recommend the most in Asia for investing right now is Bali. Not just because I live here.

 I personally have started to buy real estate for the first time in six years, after I forecast a downturn back in 2014.

I will to be talking extensively about this at a series of free seminars coming up January 17th. 19th. in Bali.

If you can't make my seminars you can contact me direct to find out how you two can get in on low prices in Bali which are down 20% to 50% from 2014 highs and starting back up now.

Discover why I call this the second-best buying opportunity this century

See details of seminar below.

Earn 10% to 20% per annum. The second best time to buy Bali real estate this century

Buyers, sellers, brokers, agents, investors, lessors or renters will benefit from attending one of our two free Real Estate Seminars in Bali in January.





Free Seminar Schedules: Dates & Times: 1. Thurs. Jan 17th. 6:30 PM to 7:45 PM or 2.  Sat. - Jan. 19th. 2:00 PM - 3:15 PM.

Location: Bali, Emerald Villas, Jl. Karangsari, # 5, Sanur, Bali, Indonesia.

Seminar Topics: At these seminars you will learn about:

Ø The Past, Present and Future of Bali Real Estate.
Ø Clarification of laws allowing foreigners total control up to 80 years.
Ø How to avoid legal problems and make sure a property is safe.
Ø How to avoid complicated laws - Indonesians married to foreigners.
Ø Why this is the second-best time to buy this century.
Ø Where are the best locations to buy for maximum profits?
Ø What properties offer the potential of *10% to 20 % per year?
Ø Discover how you can sell your property fast for the highest prices and lowest commissions on a brand-new web site.
Ø  Free listing on B.A.R.E. 
Ø First Class Beachfront property at almost 50% discount.
Ø Low cost properties with Luxury Villas starting as low as $158,000 for a three-bedroom 650 m² 3-bedroom, 4 baths with private 9 mtr. Pool.
Ø Ridiculously low-priced ocean view building lots $25,000 for 500 m².
Ø Brand new Bali Luxury Retirement Villas starting at $198,000.

Limited Seating & Free Parking: 
Seating is very limited for these free seminars so please avoid disappointment and make reservations A.S.A.P. Click Here For a Reservation Or Email: seminarsptbali@gmail.com or Tel: Office: 62-361- 284069 – Bahasa Indonesia  62-8123632177

Hong Kong's Home Market Suffering Worst Declines Since 2016 - Real estate Expert Issue's major sell signal on bitcoin of real estate industry

By
Shawna Kwan
November 27, 2018, 10:01 AM GMT+8 Updated on November 27, 2018, 11:36 AM GMT+8

Hong Kong’s housing market is suffering its worst declines since 2016 -- by multiple measures.

New-home sales this month are on track to be the lowest by volume since January or February of that year, according to Midland Realty data.

Slowing Sales: New-home sales volume this month set to be lowest since early 2016

Meanwhile, used-home prices have fallen for eight weeks, the longest losing streak since 2016, according to the Centa-City Leading Index.



In addition, used-home prices have this month recorded the biggest single-week decline since March 2016, falling 1.3 percent week-on-week, the data show.

Anecdotal evidence, such as reports of slow sales at a Country Garden Holdings Co. project, is also fueling speculation that the world’s least affordable housing market is heading for a correction. So far, secondary home prices have dipped five percent from an August high.
Goldman Sachs Group Inc. is forecasting a 15 to 20 percent decline over two years as the city’s interest rates rise in tandem with the U.S., according to a research report handed out at a press briefing on Monday.______________________

Best Asia real estate editor's comments:
Editor Lawrence dictating newsletter in Macau, China, 2016

As my longtime readers are well aware I've been warning of a bubble in Hong Kong Real estate for some time.

One year ago I coined the phrase Hong Kong is the bitcoin of the real estate industry.

"Hong Kong is the bitcoin of the real estate industry".

I made that comment because it just didn't make any sense to keep on seeing prices in Hong Kong go up in value when nobody could afford to buy.

Hong Kong violated every acid test that I've discovered and used for over 40 years of real estate investments.

Now it's heading down.

The fact is that the Hong Kong economy is not that good as a result of China's economic trade wars which are ripping into domestic incomes leaving few available to buy Hong Kong's overpriced real estate.

I believe this may very well may be the start of a huge drop in Hong Kong prices which will go down exponentially.

"May be the start of a huge exponential drop in Hong Kong real estate prices."

Before it's all over Hong Kong average home prices could go down 20% to 50%.

I highly recommend anyone who owns Hong Kong real estate to get out now.

There are much greener pastures in Asia and they don't have heavy air pollution, several severe cyclones each year, high cost of living and all the negative things that go along with Hong Kong living.

The place that I recommend the most in Asia for investing right now is not just because I live here but I personally have started to buy real estate for the first time in six years, after I forecast a downturn back in 2014.

I will to be talking extensively about this at a series of free seminars coming up January 17th. 19th. in Bali.

If you can't make my seminars you can contact me direct to find out how you two can get in on low prices in Bali which are down 20% to 50% from 2014 highs and starting back up now.

Discover why I call this the second-best buying opportunity this century

See details of seminar below.

Earn 10% to 20% per annum. The second best time to buy Bali real estate this century

Buyers, sellers, brokers, agents, investors, lessors or renters will benefit from attending one of our two free Real Estate Seminars in Bali in January.



Free Seminar Schedules: Dates & Times: 1. Thurs. Jan 17th. 6:30 PM to 7:45 PM or 2.  Sat. - Jan. 19th. 2:00 PM - 3:15 PM.

Location: Bali, Emerald Villas, Jl. Karangsari, # 5, Sanur, Bali, Indonesia.

Seminar Topics: At these seminars you will learn about:

Ø The Past, Present and Future of Bali Real Estate.
Ø Clarification of laws allowing foreigners total control up to 80 years.
Ø How to avoid legal problems and make sure a property is safe.
Ø How to avoid complicated laws - Indonesians married to foreigners.
Ø Why this is the second-best time to buy this century.
Ø Where are the best locations to buy for maximum profits?
Ø What properties offer the potential of *10% to 20 % per year?
Ø Discover how you can sell your property fast for the highest prices and lowest commissions on a brand-new web site.
Ø  Free listing on B.A.R.E. 
Ø First Class Beachfront property at almost 50% discount.
Ø Low cost properties with Luxury Villas starting as low as $158,000 for a three-bedroom 650 m² 3-bedroom, 4 baths with private 9 mtr. Pool.
Ø Ridiculously low-priced ocean view building lots $25,000 for 500 m².
Ø Brand new Bali Luxury Retirement Villas starting at $198,000.

Limited Seating & Free Parking: 
Seating is very limited for these free seminars so please avoid disappointment and make reservations A.S.A.P. Click Here For a Reservation Or Email: seminarsptbali@gmail.com or Tel: Office: 62-361- 284069 – Bahasa Indonesia  62-8123632177

Monday, 26 November 2018

U.S. business spending slowing; housing market weak I American Real Estate About To Crash

 Asia real estate editor's comments:

As my longtime readers are well aware I have an extraordinary track record of accurately predicting real estate markets around the world.
Lawrence , Hawaii 1980


Starting back as far back in 1980  I advised Americans in Hawaii to get out of Hawaii real estate. The market dropped 30% shortly thereafter.

Jumped forward to 2007 and when I read about American housewives having house selling parties instead of Tupperware parties after several years of extremely rapid growth I issued a sell signal. Everybody thought I was crazy.

A few years later Las Vegas real estate had dropped 70%.

In 2009 I shocked everybody once again when I said it's time to buy properties at 70% off.

Now the question is after nine years of exponential growth in real estate demand and prices in America are recent reports as listed below indicating that the market is finished.

With reports that "resales rising last month after six straight monthly declines" and  "house purchases remained sharply down this year" you may wonder whether it's time to get out of American real estate once again.

The answer is probably not yet because we haven't had the "greater fool stage" yet. That is the stage when everybody is buying Americas real estate and leveraged  themselves to the max.

At this time I would be cautious I certainly would not be buying any new real estate in America at this time with a possible recession coming in the next couple years and with a president like Donald Trump, whose screws up every market including real estate.

In fact if I had followed my own advice and bought Las Vegas real estate at 70% off in 2009 I would be putting it on the market and sell it for 50% to 150% profit right now.

Then I would take that money and look for markets that have had a major downturn already including Bali which after 3,000% increase from 2000 to 2014 saw a dramatic 20% to 50% drop.

The demand is even more so than 2014 and the supply is even less.
So therefore the fundamentals and now the technical aspect of buying real estate in Bali is super positive.

This is why I will be starting off 2019 with a series of seminars the moment I come back from watching Roger Federer  play Serena Williams in  in Perth during the holidays.


See details of the free seminars that I will be holding after this article

 ________________________________________________
Lucia Mutikani

WASHINGTON (Reuters) - New orders for key U.S.-made capital goods were unexpectedly unchanged in October and shipments rebounded modestly, which could temper expectations of an acceleration in business spending on equipment early in the fourth quarter.




FILE PHOTO: A 'for sale' is seen outside a single family house in Garden City, New York, U.S., May 23, 2016. REUTERS/Shannon Stapleton/File Photo

While other data on Wednesday showed home resales rising last month after six straight monthly declines, house purchases remained sharply down this year. Sluggish business spending on equipment together with a lackluster housing market could stoke fears that higher interest rates are hurting the economy.



"house purchases remained sharply down this year"

There was also disappointing news on the labor market. The number of Americans filing applications for unemployment benefits rose to more than a four-month high last week.

“The economy may have seen its best day already for growth and prosperity back a couple of months ago in late summer,” said Chris Rupkey, chief economist at MUFG. “Winter is coming for the economic outlook where business investment spending looks to be topping out, and companies have let a few workers go.”

The Commerce Department said the flat reading in orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, followed a downwardly revised 0.5 percent drop in September.

These so-called core capital goods orders were previously reported to have dipped 0.1 percent in September.

Last month, there were declines in orders for primary metals and machinery. That offset increases in orders for fabricated metal products, computers and electronic products, as well as electrical equipment, appliances and components.

Economists polled by Reuters had forecast core capital goods orders rising 0.2 percent last month. Core capital goods orders increased 6.4 percent on a year-on-year basis.

Shipments of core capital goods rose 0.3 percent in October after a downwardly revised 0.2 percent drop in the prior month.

Core capital goods shipments are used to calculate equipment spending in the government’s gross domestic product measurement.

They were previously reported to have slipped 0.1 percent in September. Business spending on equipment stalled in the third quarter and is faltering despite the Trump administration’s $1.5 trillion tax cut.

Some companies including Apple Inc (AAPL.O) used their tax windfall to buy back shares on a massive scale. Spending on equipment could also be undercut by declining oil prices. Brent crude has dropped about 28 percent since early October amid rising concerns about slowing global growth.

In a separate report on Wednesday, the National Association of Realtors said existing home sales rose 1.4 percent to a seasonally adjusted annual rate of 5.22 million units last month. Sales, however, were 5.1 percent lower than in October 2017, the sharpest 12-month drop since July 2014.

The report came on the heels of data on Tuesday showing a second straight monthly decline in single-family homebuilding in October.

The raft of tepid economic data, a sharp stock market selloff and signs of slowing global growth likely will put the Federal Reserve under the spotlight. Officials at the U.S. central bank have recently started talking about headwinds to domestic growth. The Fed is expected to raise interest rates in December for the fourth time this year.

The dollar .DXY was trading lower against a basket of currencies on Wednesday. U.S. Treasury prices fell, while stocks on Wall Street rebounded after a brutal two-day drop.

Lack of growth in core capital goods orders in October suggests that shipments of these goods could drop in November, posing a downside risk to GDP estimates for the fourth quarter.

Falling business morale points to weak German growth

Economists say the White House’s “America First” policies, which have resulted in tit-for-tat tariffs with major trade partners as well as a trade war with China, are also weighing on business investment.

“It appears that businesses are becoming more concerned about domestic growth and the negative impact on trade conflicts and future trade relationships, and may be more reluctant to up their investment,” said Jennifer Lee, a senior economist at BMO Capital Markets in Toronto.

A third report on Wednesday from the Labor Department showed initial claims for state unemployment benefits increased 3,000 to a seasonally adjusted 224,000 for the week ended Nov. 17, the highest level since the end of June.

Data for the prior week was revised to show 5,000 more applications received than previously reported. Economists had forecast claims slipping to 215,000 in the latest week.

The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, rose 2,000 to 218,500 last week.

The claims data covered the survey period for the nonfarm payrolls component of November’s employment report. The four-week average of claims rose by 6,750 between the October and November survey weeks, suggesting some moderation in job growth this month.

“The initial claims data signal some softening in the labor market in that period relative to the reference week for the October report,” said Daniel Silver, an economist at JPMorgan in New York.

Payrolls increased by 250,000 jobs in October, with the unemployment rate holding near a 49-year low of 3.7 percent.

Writing by Lucia Mutikani; Additional reporting by Jason Lange; Editing by Paul Simao
Our Standards:The Thomson Reuters Trust Principles.
_

_______________________________________________________

Discover why this is the Second Best Time To Buy Bali Real Estate this Century- Laws for foreigners and potential 10% to 20% per year returns

Buyers, sellers, brokers, agents, investors, lessors or renters will benefit from attending one of our two free Real Estate Seminars in Bali in January.





Free Seminar Schedules: Dates & Times: 1. Thurs. Jan 17th. 6:30 PM to 7:45 PM or 2.  Sat. - Jan. 19th. 2:00 PM - 3:15 PM.

Location: Bali, Emerald Villas, Jl. Karangsari, # 5, Sanur, Bali, Indonesia.

Seminar Topics: At these seminars you will learn about:

Ø The Past, Present and Future of Bali Real Estate.
Ø Clarification of laws allowing foreigners total control up to 80 years.
Ø How to avoid legal problems and make sure a property is safe.
Ø How to avoid complicated laws - Indonesians married to foreigners.
Ø Why this is the second-best time to buy this century.
Ø Where are the best locations to buy for maximum profits?
Ø What properties offer the potential of *10% to 20 % per year?
Ø Discover how you can sell your property fast for the highest prices and lowest commissions on a brand-new web site.
Ø  Free listing on B.A.R.E. 
Ø First Class Beachfront property at almost 50% discount.
Ø Low cost properties with Luxury Villas starting as low as $158,000 for a three-bedroom 650 m² 3-bedroom, 4 baths with private 9 mtr. Pool.
Ø Ridiculously low-priced ocean view building lots $25,000 for 500 m².
Ø Brand new Bali Luxury Retirement Villas starting at $198,000.

Limited Seating & Free Parking: 
Seating is very limited for these free seminars so please avoid disappointment and make reservations A.S.A.P. Click Here For a Reservation Or Email: seminarsptbali@gmail.com or Tel: Office: 62-361- 284069 – Bahasa Indonesia  62-8123632177

Wednesday, 21 November 2018

Knight Frank boss warns against slugging foreign buyers with extra property taxes

Best Asia real estate editor's comments:

Below is just one more reason why I'm negative on Australian real estate especially the large cities of Melbourne Sydney and Brisbane.

If you tax the hell out of foreigners they will simply seek properties elsewhere such as Bali.

You will look at falling prices of real estate in Australia and look at rising prices that just started to rise after for your downturn in Bali and the fact that Bali is 3 to 6 hours closer and say less invested in Bali.

Now the Chinese are the number one tourist to Bali is no question in my mind and someday they may be the number one Real Estate Buyers in Bali, similar to what they did to Singapore, Melbourne, Sydney, Brisbane Auckland, Vancouver and  Toronto.


Better if the the real estate owners pack up and move to Bali where they can live like kings for 70% less than the cost-of-living in most Australian cities.

I will be speaking in detail on this very subject at my first seminars of the year on January 17th. and 19th in Bali. See details below article.

At these free seminars you can learn everything about how, where, and what to purchase in Bali and how foreigners from Australia can have legal control the properties for more than a lifetime.




Knight Frank boss warns against extra property taxes for foreign buyers around the world. AFR

Share on twitterby Ingrid Fuary-Wagner

Knight Frank's global chairman Alistair Elliott has cautioned governments against slugging foreign buyers with extra property taxes, warning they could have "unintended consequences" on cosmopolitan cities around world.

Mr Elliott, who is visiting Australia this week, told The Australian Financial Review that while he understood why such taxes on foreign buyers were being introduced and was sympathetic to governments trying to crackdown on pure speculation, he believed they "didn't serve anyone's medium to long-term purpose."

"I'm concerned when you're talking about cities that have established themselves in the global arena and have become, by their very nature, business hubs and cosmopolitan centres," Mr Elliott said. "Governments have to be very careful about how far they push it before they start undermining those attributes."

Mr Elliott rejected the common notion that foreigners were buying up homes across the world "with the intention of only speculating on the increase in their value and then exiting".
Knight Frank global chairman Alistair Elliott. Grant Smith

"I'm not sure how much that is really the case," Mr Elliott said. "I'm sure most people want to buy them as homes for travel or business or both, or they want to buy property as genuine investments and let them on the local market, and I think both need to be encouraged."

Several global cities in the past few years have passed laws to crack down on foreign speculators, particularly in those places where residential property prices had seen significant gains in the past few years.

In addition to the Australian government restricting foreign purchases to new properties, New South Wales last year doubled its stamp duty surcharge for overseas buyers from 4 to 8 per cent. In Vancouver, where real estate is said to be overvalued by 65 per cent, a 15 per cent tax on foreign buyers of residential property was introduced, similar to regulations in Singapore, while in London there are plans to impose an additional tax of up to 3 per cent on foreign buyers.

"The more the transaction charges are penal the less people will buy. It's the cautiousness with which each government needs to approach that process because i don't think governments should stop overseas investment in real estate," he said.

Australia has not been the only market to experience a recent drop in property prices, with London prices off the boil and sales volumes falling, which had made business much tougher for Knight Frank, Mr Elliott said.
Vancouver, Canada's biggest city on the Pacific, introduced a 15 per cent tax on foreign buyers of residential propery last year.

"The biggest impact on our business has been the slowdown of residential sales but as it happens it's been counterbalanced, plus some, by the improvement in the commercial markets and our expansion. Knight Frank is a unique place in so far that we are the only private property advisory firm that now exists with a global platform," he said.

While prices in London have fallen at their fastest rate in nine years, Mr Elliott said uncertainty surrounding Brexit had had virtually no influence on the real estate market.

UK Prime Minister Theresa May on Thursday got the backing of cabinet for her draft brexit agreement, but hesitancy in the market is likely to continue up until the end of March 2019 and beyond when the exact implications of UK's official exit from the European Union will be realised.

"It's fair to say residential [property] particularly in the UK has taken a breather but I maintain that it's what the government has done locally with more taxes around transactions rather than Brexit hesitancy," Mr Elliott said.

London's office market was thriving and most of the investment world believed the UK would continue to be an interesting place to live, trade and invest int, Mr Elliott added.


Buyers, sellers, brokers, agents, investors, lessors or renters will benefit from attending one of our two free Real Estate Seminars in Bali in January.



Free Seminar Schedules: Dates & Times: 1. Thurs. Jan 17th. 6:30 PM to 7:45 PM or 2.  Sat. - Jan. 19th. 2:00 PM - 3:15 PM.

Location: Bali, Emerald Villas, Jl. Karangsari, # 5, Sanur, Bali, Indonesia.

Seminar Topics: At these seminars you will learn about:

Ø The Past, Present and Future of Bali Real Estate.
Ø Clarification of laws allowing foreigners total control up to 80 years.
Ø How to avoid legal problems and make sure a property is safe.
Ø How to avoid complicated laws - Indonesians married to foreigners.
Ø Why this is the second-best time to buy this century.
Ø Where are the best locations to buy for maximum profits?
Ø What properties offer the potential of *10% to 20 % per year?
Ø Discover how you can sell your property fast for the highest prices and lowest commissions on a brand-new web site.
Ø  Free listing on B.A.R.E. 
Ø First Class Beachfront property at almost 50% discount.
Ø Low cost properties with Luxury Villas starting as low as $158,000 for a three-bedroom 650 m² 3-bedroom, 4 baths with private 9 mtr. Pool.
Ø Ridiculously low-priced ocean view building lots $25,000 for 500 m².
Ø Brand new Bali Luxury Retirement Villas starting at $198,000.

Limited Seating & Free Parking: 
Seating is very limited for these free seminars so please avoid disappointment and make reservations A.S.A.P. Click Here For a Reservation Or Email: seminarsptbali@gmail.com or Tel: Office: 62-361- 284069 – Bahasa Indonesia  62-8123632177

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