According
to a recent survey by Global Property Guide, Singapore has the best performing
property market in the world, followed by Hong Kong and Australia.
Singapore recorded a 34 per cent year-on-year
increase for house prices starting from the second quarter of 2009 and ending
in the first half of 2010, followed by Hong Kong at 21.42 per cent and
Australia at 14.85 per cent.
On the other end of the spectrum, Bulgaria,
Lithuania and Iceland were the bottom three, recording price decreases of 10.25
per cent, 15.70 per cent and 15.85 per cent respectively.
In Southeast Asia, Indonesia, Thailand and the
Philippines were the bottom three, recording price drops of 1.42 per cent, 4.83
per cent and 4.85 per cent respectively.
With the Lion City taking top spot in Asia and
the world, it is almost impossible to single out other hot real estate
destinations unless we single out each city’s unique characteristics that make
it so attractive.
With so much uncertainty in the US and Europe,
our top picks remain in the Asia Pacific. Below are our choices for hot
overseas investment destinations:
Melbourne
Melbourne recently clinched the title of the
world's most liveable city in the Economist Intelligence Unit's latest survey.
Boasting a thriving arts and entertainment
scene, top notch universities and a centre for sports and tourism, Melbourne’s
property market has seen substantial international investments in popular districts
such as Southbank, Port Melbourne, Melbourne Dockland and the new hot spot,
South Wharf.
Melbourne also has the best performing economy
in the whole of Australia and survived the Lehman Brothers’ crisis better than
other states.
For a great quality of life and work-life
balance, Melbourne is our top pick.
Iskandar
Malaysia
Located just across the causeway, Iskandar
Malaysia is set to experience the spill-over effects of Singapore’s red hot
property market once the new rail network connects the Tuas MRT extension to
Legoland Malaysia, the Johor CBD, and back to the new MRT regional interchange
in Woodlands by 2018.
Supported by various catalytic industries such
as tourism, multimedia, education, wellness and an Islamic finance hub,
Iskandar Malaysia could prove to be attractive to investors who like its close
proximity to Singapore but are turned off by the city-state’s high property
prices and fast pace of life.
Its plus points include its Master Plan from a
greenfield to a city of the future.
However, Iskandar Malaysia has yet to show any
track record in capital appreciation and rental yield, unlike Kuala Lumpur.
Still, it is a market to watch now that
Temasek Holdings and Khazanah Nasional Berhad will be jointly developing an
iconic wellness centre there.
Penang
Like Singapore, high-end properties in Penang
have shown good capital appreciation due to scarcity of land.
It also helps that George Town has been named
a UNESCO World Heritage Site due to its unique Peranakan shop houses and
colonial buildings that still stand today.
Other plus points include its lower cost of
living, scrumptious hawker fare and laid back living that has drawn investors
who see it as a good retirement destination.
However, infrastructure and transportation
need to be improved, while Batu Ferringhi beach has to be cleaned up since its
beaches are always so hyped up.
Otherwise, Penang feels like a home away from
home.
Krabi
Forget Phuket! Krabi is the hot new investment
destination that has attracted about 2 million baht in investment in new
services and hospitality.
With a new marina set to rival Phuket,
non-stop direct flights courtesy of Krabi Airline and a new convention centre,
Krabi’s tourism industry is set to take off.
In addition, it is a family-friendly
destination with a less seedy image compared to Phuket.
Other draws include low cost of living, great
local cuisine and sizeable Buddhist and Muslim communities who live in harmony
with one another.
While Phuket has been overdeveloped, Krabi has
plenty of room for economic growth, capital appreciation and rental yield – but
only for luxury landed homes and villas.
Steve Melhuish
Business & Investment Opportunities
YourVietnamExpert is a division of Saigon Business Corporation Pte Ltd, Incorporated in Singapore since 1994. As Your Business Companion, we propose a range of services in Consulting, Investment and Management, focusing three main economic sectors: International PR; Healthcare & Wellness;and Tourism & Hospitality. We also propose Higher Education, as a bridge between educational structures and industries, by supporting international programs. Sign up with twitter to get news updates with @SaigonBusinessC. Thanks.
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