princess_morbucks
03-12-13, 10:32
Overseas property continues to lure local investors with developers seeming to jet in every other weekend offering new launches.
Consultancy Colliers International data shows an increasing number of Singapore investors have been buying London property over the past 12 months, about 25 per cent more than a year earlier.
Mr Julian Sedgwick of Savills Singapore says: "It is hard to track the number of different launches in Singapore but we have certainly seen an increase in the number of launches this year compared with last year."
He says this could be due to cooling measures in Singapore and an increase in local agencies trying to sell international property.
"The key cities of interest are London, Sydney, Melbourne, Bangkok, New York, Kuala Lumpur, Tokyo and growing interest in Manila," he adds.
Mrs Doris Tan of Jones Lang LaSalle has also seen strong growth in sales for these cities. "We sold close to 800 units of London properties to Singaporeans, which is about 80 per cent of the total property purchases made this year, and about 150 Tokyo properties to Singaporeans as well."
Singaporeans are also among the top foreign investors in the Bangkok condominium market, accounting for 18 per cent of CBRE sales to overseas buyers this year, says Ms Aliwassa Pathnadabutr, managing director at property consultancy CB Richard Ellis in Thailand.
"Singapore is ranked second after Hong Kong in terms of top foreign investors in Bangkok's downtown condominium market," she adds.
However, there are certain risks and restrictions in the various cities and countries when it comes to buying property overseas.
Australia has restrictions on overseas investors wanting to buy pre-existing properties, according to Savills' Australian office.
If you are looking to move there, Australia's Significant Investor Visa requires an investment of A$5 million (S$5.7 million) in complying investments for a minimum of four years before being eligible to apply for a permanent visa.
CBRE's Ms Pathnadabutr says buying condo units in Thailand is the simplest and safest for foreign investors while serviced apartments are not available for individual sale. Foreign investors cannot own land in Thailand.
She adds: "Most foreign investors, including Singaporeans, therefore choose to invest in freehold condominiums."
There are so many options on the table that there seems to be something for every investor in each city, depending on the bud-get.
Take a buyer with $500,000 to $600,000 to spend.
Savills' Mr Sedgwick says: "You are looking at a one-bed (flat) in a zone two location of London or a high-end condo in Thailand. In Melbourne, you could be looking at a one- or two-bed in the central business district and perhaps a one-bed or studio in Sydney."
Overseas properties to fit your budget
The Sunday Times looks at what is available for buyers of foreign property farther afield from hot spot Iskandar.
We look at three price brackets - those with a budget of $300,000, $500,000 or more than $1 million.
Budget: $300,000
Ms Aliwassa Pathnadabutr, managing director at property consultancy CB Richard Ellis in Thailand, says you can get a good-sized one-bedroom unit of about 50 sq m to 60 sq m in a prime downtown location such as Sukhumvit, Central Lumpini or Silom-Sathorn.
Mrs Doris Tan of Jones Lang LaSalle notes that in Australia, A$250,000 (S$286,000) can get you a one-bedder but only in Brisbane or the nearby Gold Coast.
Another option would be a bigger unit in Anchor Land Holdings' Monarch Parksuites freehold condominium in Paranaque City, Manila. Prices start from $202,000 for a one- bedder.
Budget: $500,000 to $600,000
DTZ Singapore research head Lee Lay Keng says that in central London, two-bedroom units could range from about £300,000 (S$616,000) to £450,000.
Look out for bustling residential neighbourhoods such as Bayswater and Paddington.
Mr David Poppleton, Savills head of residential projects in Australia, says that this sum will get you a small one-bedroom unit without parking in the inner city in Australia.
In Melbourne, this price could fetch a one- or two-bedroom unit in the central business district and perhaps a one-bedder or studio unit in Sydney.
Over in Manila, you will be able to find two-bedroom condo units in high-end developments in good locations, said Mr Michael McCullough, managing director at Savills associate firm KMC MAG Group Philippines.
Budget: More than $1 million
In this price bracket, Mr Richard Levene of Colliers International suggests The Ladbroke Grove, a mixed-use development in North Kensington.
One-bedroom apartments of 540 sq ft start from £535,000 while two-bedders begin at £724,500.
Another London option is The Nova Building by Land Securities, on prime Buckingham Palace Road. Units range from studio units at 370 sq ft to three-bedders at 1,111 sq ft, with prices from £595,000.
Or head to Sky Gardens around Vauxhall, where the smallest unit is a one-bedroom unit going for £734,000.
In Thailand, you could consider the 50-storey Marque Sukhumvit by Major Residences on the main Sukhumvit Road, near Sukhumvit 39, opposite the Emporium shopping complex.
Prices start from $1.28 million for two-bedroom units ranging from 1,335 sq ft to 1,464 sq ft.
Or if you want the services of a hotel along with your apartment, look at The Ritz-Carlton Residences, Bangkok , in the mixed-use development MahaNakhon, by Thai luxury developer Pace Development.
The residences start from the 23rd floor to the penthouse Sky Residences on the 73rd floor. They range from 120 sq m for a two-bedroom unit to 850 sq m for a five-bedroom unit. Prices start from $1.4 million.
- See more at: http://business.asiaone.com/news/news/overseas-property-galore-buyers/page/0/3#sthash.MLyDmdjb.dpuf
Consultancy Colliers International data shows an increasing number of Singapore investors have been buying London property over the past 12 months, about 25 per cent more than a year earlier.
Mr Julian Sedgwick of Savills Singapore says: "It is hard to track the number of different launches in Singapore but we have certainly seen an increase in the number of launches this year compared with last year."
He says this could be due to cooling measures in Singapore and an increase in local agencies trying to sell international property.
"The key cities of interest are London, Sydney, Melbourne, Bangkok, New York, Kuala Lumpur, Tokyo and growing interest in Manila," he adds.
Mrs Doris Tan of Jones Lang LaSalle has also seen strong growth in sales for these cities. "We sold close to 800 units of London properties to Singaporeans, which is about 80 per cent of the total property purchases made this year, and about 150 Tokyo properties to Singaporeans as well."
Singaporeans are also among the top foreign investors in the Bangkok condominium market, accounting for 18 per cent of CBRE sales to overseas buyers this year, says Ms Aliwassa Pathnadabutr, managing director at property consultancy CB Richard Ellis in Thailand.
"Singapore is ranked second after Hong Kong in terms of top foreign investors in Bangkok's downtown condominium market," she adds.
However, there are certain risks and restrictions in the various cities and countries when it comes to buying property overseas.
Australia has restrictions on overseas investors wanting to buy pre-existing properties, according to Savills' Australian office.
If you are looking to move there, Australia's Significant Investor Visa requires an investment of A$5 million (S$5.7 million) in complying investments for a minimum of four years before being eligible to apply for a permanent visa.
CBRE's Ms Pathnadabutr says buying condo units in Thailand is the simplest and safest for foreign investors while serviced apartments are not available for individual sale. Foreign investors cannot own land in Thailand.
She adds: "Most foreign investors, including Singaporeans, therefore choose to invest in freehold condominiums."
There are so many options on the table that there seems to be something for every investor in each city, depending on the bud-get.
Take a buyer with $500,000 to $600,000 to spend.
Savills' Mr Sedgwick says: "You are looking at a one-bed (flat) in a zone two location of London or a high-end condo in Thailand. In Melbourne, you could be looking at a one- or two-bed in the central business district and perhaps a one-bed or studio in Sydney."
Overseas properties to fit your budget
The Sunday Times looks at what is available for buyers of foreign property farther afield from hot spot Iskandar.
We look at three price brackets - those with a budget of $300,000, $500,000 or more than $1 million.
Budget: $300,000
Ms Aliwassa Pathnadabutr, managing director at property consultancy CB Richard Ellis in Thailand, says you can get a good-sized one-bedroom unit of about 50 sq m to 60 sq m in a prime downtown location such as Sukhumvit, Central Lumpini or Silom-Sathorn.
Mrs Doris Tan of Jones Lang LaSalle notes that in Australia, A$250,000 (S$286,000) can get you a one-bedder but only in Brisbane or the nearby Gold Coast.
Another option would be a bigger unit in Anchor Land Holdings' Monarch Parksuites freehold condominium in Paranaque City, Manila. Prices start from $202,000 for a one- bedder.
Budget: $500,000 to $600,000
DTZ Singapore research head Lee Lay Keng says that in central London, two-bedroom units could range from about £300,000 (S$616,000) to £450,000.
Look out for bustling residential neighbourhoods such as Bayswater and Paddington.
Mr David Poppleton, Savills head of residential projects in Australia, says that this sum will get you a small one-bedroom unit without parking in the inner city in Australia.
In Melbourne, this price could fetch a one- or two-bedroom unit in the central business district and perhaps a one-bedder or studio unit in Sydney.
Over in Manila, you will be able to find two-bedroom condo units in high-end developments in good locations, said Mr Michael McCullough, managing director at Savills associate firm KMC MAG Group Philippines.
Budget: More than $1 million
In this price bracket, Mr Richard Levene of Colliers International suggests The Ladbroke Grove, a mixed-use development in North Kensington.
One-bedroom apartments of 540 sq ft start from £535,000 while two-bedders begin at £724,500.
Another London option is The Nova Building by Land Securities, on prime Buckingham Palace Road. Units range from studio units at 370 sq ft to three-bedders at 1,111 sq ft, with prices from £595,000.
Or head to Sky Gardens around Vauxhall, where the smallest unit is a one-bedroom unit going for £734,000.
In Thailand, you could consider the 50-storey Marque Sukhumvit by Major Residences on the main Sukhumvit Road, near Sukhumvit 39, opposite the Emporium shopping complex.
Prices start from $1.28 million for two-bedroom units ranging from 1,335 sq ft to 1,464 sq ft.
Or if you want the services of a hotel along with your apartment, look at The Ritz-Carlton Residences, Bangkok , in the mixed-use development MahaNakhon, by Thai luxury developer Pace Development.
The residences start from the 23rd floor to the penthouse Sky Residences on the 73rd floor. They range from 120 sq m for a two-bedroom unit to 850 sq m for a five-bedroom unit. Prices start from $1.4 million.
- See more at: http://business.asiaone.com/news/news/overseas-property-galore-buyers/page/0/3#sthash.MLyDmdjb.dpuf