Sydney: Still hot? Article.pdf · region” to central Phuket on a long-term basis, Sam Sethi, a...
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41 PROPERTY PHUKET, THAILAND W ith the political unrest experienced by Bangkok, beach island Phuket has risen the ranks to become the Land of Smiles’ top performing property hotspot. Beaches far away from busy cities, safe investment platforms and a plethora of entertainment options have also made the island a popular destination, especially so for holiday home buyers. A good mix of international (Chinese holiday-makers-turned-property- investors have risen in numbers) and local investors have been snapping up prime properties: Oceanfront villas, penthouses and apartments located mainly in the west and north-west coast including Patong. Sansiri — one of the country’s largest property firms — alone has launched 17 condominium and detached-housing projects in Phuket since 2011. Altogether, they comprise 5,549 units worth 13.85 billion baht (S$533 million), with nearly 4,000 units sold as of late 2013. Similarly, Tri Property launched two condominium projects — the Zcape and Zcape x2 — last year, both of which have sold out. Its latest project is the Bt1-billion Zcape 3 with 417 units. Once notorious for its nightlife, unsafe streets and rampant drug use, Phuket was given a clean sweep through government initiatives and infrastructure projects along the island’s coastal areas. There were also massive investments by some of Thailand’s largest retail corporations. For instance, Central Retail Corp spent more than 20 billion baht to develop a mixed-use project and a further condominium on 32 hectares of land. These initiatives have helped grow the luxury lifestyle market and drawn “more executive types from around the region” to central Phuket on a long-term basis, Sam Sethi, a founding member of the Phuket Real Estate Association (PREA), told the Phuket Gazette. Although some foreign investors are exercising caution by taking a wait-and- see approach because of the country’s political issues, by and large Phuket’s property market is set to do well for the rest of this year. Kingston Lai, CEO of the Asia Bankers Club, expects prices in key areas such as Patong to go up by at least six percent per annum in the next two years. “There are some long-term investors that are taking this opportunity to pick up good bargains in the market. I personally see the political risks as very minor and short-term,” he says. THE DECK BY SANSIRI SYDNEY: STILL HOT? Down Under’s top hotspot may have seen real estate figures grow by 14.5 percent in 2013, but Sydney’s house price growth more than halved this year says the Australian Bureau of Statistics. What was the city’s biggest property boom in a decade has now been termed by many property analysts to be over. But should investors buy or cash out? You be the judge. Not only has the government recently announced an A$60 billion investment into the state’s infrastructure — invariably a solid foundation for consumer confidence — Sydney’s new second casino (part of the Barangaroo foreshore redevelopment scheme) is also under construction. The city is also a key destination for students and tourists from China and other Asia-Pacific nations who drive up demand for investment properties. “In Melbourne, there are general concerns about the oversupply of residential apartments. Brisbane has potential but is still a relatively small market and may be affected by the softening in the mining sector and the loss of jobs associated with it,” says Iwan Sunito, CEO of Australian developer Crown Group. “[But in Sydney], the overseas student population is expected to grow by 30 percent to 520,000 by 2020, [therefore] job growth in the city will be strong and demand for housing will continue to exceed construction.” Already, Sunito’s swanky apartment residences, V by Crown and Viva by Crown (both less than 30 minutes from the city centre) have sold $150 million and over $300 million worth of units so far. Western Sydney’s property market is also thriving, with Mt Druitt, Whalan and Lethbridge Park all named as dominant forces in Smart Property Investment’s 2014 Fast 50 Report. With the North West Rail Link heading towards a 2019 completion, north-west suburbs such as Castle Hill, Kellyville and Rouse Hill may also be worth looking out for. VIVA BY CROWN FEATURE_PROPERTY HOTSPOT RV7.indd 41 21/7/14 4:24 PM
Transcript of Sydney: Still hot? Article.pdf · region” to central Phuket on a long-term basis, Sam Sethi, a...
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p r o p e r t y
P H U K E T , T H A I L A N D
With the political unrest experienced by Bangkok, beach island Phuket has risen the ranks to become the
Land of Smiles’ top performing property hotspot. Beaches far away from busy cities, safe investment platforms and a plethora of entertainment options have also made the island a popular destination, especially so for holiday home buyers.
A good mix of international (Chinese holiday-makers-turned-property-investors have risen in numbers) and local investors have been snapping up prime properties: Oceanfront villas, penthouses and apartments located mainly in the west and north-west coast including Patong.
Sansiri — one of the country’s largest property firms — alone has launched 17 condominium and detached-housing projects in Phuket since 2011. Altogether, they comprise 5,549 units worth 13.85 billion baht (S$533 million), with nearly 4,000 units sold as of late 2013. Similarly, Tri Property launched two condominium projects — the Zcape and Zcape x2 — last year, both of which have sold out. Its latest project is the Bt1-billion Zcape 3 with 417 units.
Once notorious for its nightlife, unsafe
streets and rampant drug use, Phuket was given a clean sweep through government initiatives and infrastructure projects along the island’s coastal areas.
There were also massive investments by some of Thailand’s largest retail corporations. For instance, Central Retail Corp spent more than 20 billion baht to develop a mixed-use project and a further condominium on 32 hectares of land.
These initiatives have helped grow the luxury lifestyle market and drawn “more executive types from around the region” to central Phuket on a long-term basis, Sam Sethi, a founding member of the Phuket Real Estate Association (PREA), told the Phuket Gazette.
Although some foreign investors are exercising caution by taking a wait-and-see approach because of the country’s political issues, by and large Phuket’s property market is set to do well for the rest of this year. Kingston Lai, CEO of the Asia Bankers Club, expects prices in key areas such as Patong to go up by at least six percent per annum in the next two years.
“There are some long-term investors that are taking this opportunity to pick up good bargains in the market. I personally see the political risks as very minor and short-term,” he says.
The Deck by SanSiri
Sydney: Still hot?Down Under’s top hotspot may have seen real estate figures grow by 14.5 percent in 2013, but Sydney’s house price growth more than halved this year says the australian bureau of Statistics. What was the city’s biggest property boom in a decade has now been termed by many property analysts to be over. but should investors buy or cash out? you be the judge.
not only has the government recently announced an a$60 billion investment into the state’s infrastructure — invariably a solid foundation for consumer confidence — Sydney’s new second casino (part of the barangaroo foreshore redevelopment scheme) is also under construction. The city is also a key destination for students and tourists from china and other asia-Pacific nations who drive up demand for investment properties.
“in Melbourne, there are general concerns about the oversupply of residential apartments. brisbane has potential but is still a relatively small market and may be affected by the softening in the mining sector and the loss of jobs associated with it,” says iwan Sunito, ceO of australian developer crown Group. “[But in Sydney], the overseas student population is expected to grow by 30 percent to 520,000 by 2020, [therefore] job growth in the city will be strong and demand for housing will continue to exceed construction.”
already, Sunito’s swanky apartment residences, V by crown and Viva by crown (both less than 30 minutes from the city centre) have sold $150 million and over $300 million worth of units so far. Western Sydney’s property market is also thriving, with Mt Druitt, Whalan and Lethbridge Park all named as dominant forces in Smart Property Investment’s 2014 Fast 50 Report. With the north West rail Link heading towards a 2019 completion, north-west suburbs such as castle hill, kellyville and rouse hill may also be worth looking out for.
ViVa by crOWn
FEATURE_PROPERTY HOTSPOT RV7.indd 41 21/7/14 4:24 PM
