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Indonesia Property Market About to Hit Boom Time?
Is Indonesia Property Market About to Hit Boom Time?
Indonesia’s residential property price index (based on 14 cities) rose by 7.4 percent (2.04% adjusted for inflation) during the year to end Q1 2013, according to figures from Bank Indonesia.
Residential property sales volume rose by 26.68 percent in the fourth quarter of 2012. Sales mainly rose in small houses following the increase on subsidized housing loans for low-income people.
Residential property prices in Indonesia also accelerated for all property types.
Why the increase in activity in the property market? There has been economic growth since 2009 to 6.2 percent in 2012 and growth is expected to continue in 2013.
But not everyone can buy property in Indonesia. In fact it’s almost impossible for expats to buy freehold. They can, however, buy leasehold for upto 70 years. Read ‘An overview of the legislation involved in property transactions within Indonesia’ to find out more.
by AngloINFO World editor. Find out more about AngloINFO World editor here.
Asia Pacific Property Investments Up 50 Percent
Real Estate News | Asia Pacific Commercial News
Asia Pacific Property Investments Up 50 Percent
By Francys Vallecillo | June 11, 2013 10:51 AM ET
The investment volumes increased in both core and emerging markets and were 22.9 percent higher than a year ago, the firm reports.
Total investments for the first quarter more than doubled in core markets from the previous quarter but were only seven percent higher than last year. In emerging markets, however, investments, mostly driven by development land sales, totaled $22.6 billion, more than a 20 percent higher than last quarter and 30 percent higher than a year ago, the firm reports.
“The outlook for China, especially in the core market of Shanghai is positive with investors looking at office and retail assets,” John Stinson, managing director, Asia Pacific Capital Markets at C&W, said in the release. “In the emerging markets space, Southeast Asia continues to be favorable, with strong economic growth prospects and government investment programs as well as committed measures at structural reforms.”
Cross border investments totaled 7.6 percent during the quarter, a decrease from 12.9 percent the previous quarter.
However, Malaysia has already surpassed its foreign inflow annual total for each of the last four years. The Iskandar region reported $630.0 million or 95.7 percent of investments for the country, C&W reports.
Asia – Southeast Asian Property Market Growing
Southeast Asian Property Market Growing
Strong growth in Southeast Asian real estate markets is linked to increasing transparency in the region’s property markets and consequently rising investment interest, it is claimed.
Global real estate advisory firm Jones Lang LaSalle says there are a number of real estate trends and opportunities in emerging markets across Southeast Asia.
In a new report it points out that the economies in the region continue to outpace the rest of the world by a significant margin. While Singapore remains the commercial and financial hub, emerging markets are making headway across Southeast Asia.
The report says that despite a slight slowdown during the first quarter of 2013 in some Southeast Asia markets such as Indonesia and Thailand, economies across the region anticipate growth for the remainder of the year. As the continued global economic recovery and growth in the region increase liquidity and reduce debt, growth prospects in real estate assets across the region will attract global investors, it believes.
Supported by strong investor demand and consumer spending, Indonesia’s economy is foretasted to grow 6.1% in 2013, the Philippines is expected to grow 5.7% this year and economies in Thailand, Malaysia and Vietnam are expected to grow between 4.5 and 5.5% driven by strong domestic demand.
‘This growth translates to robust domestic investment into commercial property, driving demand for office and logistics space. Increased consumer spending will boost demand for expanded retail formats, which in turn will support the developments of retail malls and the subsequent accompanying infrastructure in emerging markets,’ said Chris Fossick, managing director, Singapore and Southeast Asia at Jones Lang LaSalle.
‘We are now starting to see increased transparency in the real estate markets of these economies which will ultimately spur regional growth encouraging investment. As a result, the real estate industry is in a unique position to influence and be involved in many key aspects of development in the Southeast Asia region, both economic and social,’ he explained.
‘There is a role for the industry in areas such as infrastructure, housing, education, healthcare, tourism and industry and trade which are all inextricably linked. This is both an opportunity and a challenge for our industry and we need to work closely with both private and public enterprise to ensure real estate adds full value,’ he added.
The office markets in the region are set to benefit from changes being made to accommodate growing workforces and modernized office spaces in new, emerging markets. While existing companies seek space to accommodate expansion and new businesses and industries demand a share in the markets, demand for offices will spike and vacancy levels are forecasted to reach historic lows by 2014, the report says.
An example is Jakarta where office demand has increased by nearly 150% in four years, growing 7.4% in the last quarter alone. The Philippines, often overlooked by investors, witnessed record levels in demand for office space, sparking new developments in previously unexplored submarkets and a 3% rise in rents from the same period 2012.
The report also says that due to increased domestic demand, office market rents and capital values in Thailand’s real estate market have demonstrated recovery since the end of 2012, rising 15.2% year over year in the first quarter of 2013. Meanwhile increases of 1 to 4% in office rents were seen in some other emerging markets, such as Kuala Lumpur and Bangkok.
It says that currently Jakarta leads the regional field in the retail market, supported by a large domestic population. As rising disposable income and changing demographics are driving consumer confidence and as a result retail rents have accelerated by 4.9% year on year in the first quarter of 2013.
In Thailand, the local retail market also enjoyed renewed interest from international retail brands looking to capitalise on resilient domestic demand and overall rising affluence in Asia. Leasing activity was strong, largely driven by newcomers and expansions by international brands with retail rents in Bangkok growing 4.1% year on year and capital values rising by 3.4% year on year in the first three months of 2013.
By incorporating sustainability in real estate development, markets in the region can capitalize on and maintain growth, enhance corporate productivity and efficiency, and improve transparency for prospective investors, according to the firm.
The Jones Lang LaSalle’s 2012 Global Real Estate Transparency Index revealed that transparency in real estate markets is also improving as investors and corporate occupiers extend deeper into these geographies.
A higher transparency ranking in these markets will support economic integration by leading developers to explore opportunities for real estate growth which, in turn, encourages other investors who will recognize the growing development cycle,’ the report explains.
‘Across the Southeast Asia emerging markets, increased corporate real estate activity is enhancing the pace of transparency improvements in Indonesia, the Philippines, Vietnam and Thailand. These countries have experienced the most progress in transparency among Asia Pacific countries, and rank among the top 10 improvers globally in overall transparency scores due to greater availability of market data and incremental changes in the regulatory and transaction processes,’ it adds.
This article was republished with permission from Property Wire.
Asia – Demand for office space to rise in Asia this year
Demand for office space to rise in Asia this year, Knight Frank says
Asian economic growth is expected to increase demand for office space this year, according to major independent global property consultancy Knight Frank.
An increasingly regionally connected Chinese economy and the knock-on effects from Japanese stimulus measures are likely to boost activity across the region, with domestic occupiers leading demand for prime office space.
The Knight Frank Asia-Pacific Prime Office Index rose for the 12th straight quarter, increasing 1.7 per cent last quarter and 5.6 per cent over the last 12 months. Fifteen of the 19 prime office markets tracked saw prime rents increase last quarter. Rents are expected to soften in only three of the 19 markets monitored over the next 12 months.
The Asia-Pacific Prime Office Index increased 1.7 per cent over the quarter, down slightly from 2.0 per cent recorded in the previous quarter. The Asia-Pacific vacancy rate increased marginally to 12.0 per cent as positive net absorption across most markets was met with significant new supply.
Tokyo led the way in rental growth, with Grade A office rents increasing over the quarter by nearly 16 per cent. Although still sitting 39 per cent below the 2008 first-quarter peak, the company has continued to see prime centrally located office space outperform the wider Tokyo market. The unprecedented stimulus measures recently introduced by the Bank of Japan are likely to lead to a bump in growth over the next two years, affecting demand for office space and brightening the prospects for further prime rental growth.
In China, despite a drop in growth levels last quarter, the movement to more domestic demand is likely to lead to more stable but lower growth rates over the coming years. The Beijing office market remains tight, although it has likely passed its mid-term peak, while the Shanghai market is likely to continue to become more tenant-friendly as the city welcomes nearly 2.5 million square metres of new supply over the next three years.
In Southeast Asia, prime office rents fell for the seventh straight quarter in Singapore, while the Vietnamese markets have likely hit the bottom of the cycle after more than four years of declining prime rents.
The Kuala Lumpur prime office market remained steady, with a possible boost in demand after the election tempered by significant new supply. Jakarta continued to see the strongest prime office rental growth across the whole region, while prime Bangkok office rents showed steady growth of 2.6 per cent.
“In Bangkok we have certainly seen demand for office space increase, especially since the election of 2011,” Marcus Burtenshaw, executive director and head of commercial agency at Knight Frank Thailand, said yesterday.
“And it has been the Grade A segment in particular that has seen the greatest improvement,” he said.
The overall office occupancy rate in Bangkok last quarter increased 2.88 percentage points year on year and 0.45 percentage point quarter on quarter to 88.02 per cent.
“We continue to see the most demand for buildings located in the central business district [CBD] and for properties located within walking distance of mass-transit lines,” Burtenshaw said. “Grade A buildings have been especially sought after as occupancies increased by a substantial 6.2 per cent on year, up 0.99 per cent from last quarter. This has pushed average market rents up by 3.96 per cent year on year, and while growth was seen in every sector, Grade A buildings saw the greatest change – a 5.76-percentage-point year-on-year increase – as landlords responded to growing demand, making this the greatest year-on-year growth that we have recorded.”
Bangkok tenants should expect and plan for office rents to continue rising, particularly for Grade A space in the CBD, as high occupancy rates with robust local and regional market demand are likely to drive growth throughout the year, he added.
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China – Chinese Property Prices Continue to Climb
Chinese Property Prices Continue to Climb
China’s new-home prices rose last month in 68 of 70 cities tracked by the government, indicating Premier Li Keqiang will need to maintain efforts to cool the property market even as economic growth slows.
Increases in Guangzhou, Beijing and Shanghai were the biggest on a yearly basis since a change in data methodology in January 2011, a report from the National Bureau of Statistics showed May 18. The number of cities showing gains from a year earlier was the same as in March.
China’s policy makers are trying to avoid property bubbles and make homes more affordable while bolstering an economy that lost steam in the first quarter. Expanding a campaign against housing speculation could choke off real-estate development that is helping counter a slowdown in manufacturing investment and supporting demand for steel, cement and household goods.
“The government faces a dilemma,” said Zhang Zhiwei, chief China economist at Nomura Holdings Inc. in Hong Kong. “They have to make….
http://forexblog.oanda.com/20130519/chinese-property-prices-continue-to-climb/
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Positive growth for Asia Pacific property
Aviva predicts positive growth for Asia Pacific property
By Romesh Navaratnarajah:
While the Asia Pacific region will likely see an economic recovery this year, investors need to be cautious over possible external shocks from Europe and the US, according to global asset management firm Aviva Investors.
“For 2013, investors can expect an improvement in real estate returns in Asia Pacific driven by improving occupier demand and strong interest from domestic and APAC regional investors. However, we prefer leasing risk to pricing risk in selected markets at this point of the cycle,” said Elysia Tse, SVP of Strategy and Research for Asia Pacific Real Estate at Aviva Investors.
Singapore’s suburban retail sector will remain a top player after it achieved 99 percent occupancy rates in 2012 and outperformed other commercial property sectors.
“With increasing online retailing in Australia, Japan and China, there are attractive opportunities in the logistics sector across the region,” added Tse.
Aviva expects the region’s office sector to provide the biggest returns over the next three years and industrial in the next five years. Retail necessities will also flourish in Singapore, Japan and Australia.
In Japan, rents and values continue to rise following the aggressive quantitative easing programme by the government.
Meanwhile, US core prime assets will stand out among the mature economies with demand from first- and second-tier cities. This will likely spread to better-quality secondary assets and “could be a turning point for UK real estate with good-quality secondary assets attracting investor interest”.
“These are typically well-located assets which can be improved by initiatives such as changes to tenancy agreements and are likely to benefit from growing investor demand for relatively secure sources of yields.”
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@allproperty.com.sg
Parallels between the U.S. and Asian property markets
Parallels between the U.S. and Asian property markets
U.S. home prices are on an upswing. What does this mean for the Asian property market?
American homeowners might never forget the pain inflicted by the subprime mortgage crisis of 2007-2009, but recent economic numbers have injected a little optimism. According to the February 2013 S&P/Case-Shiller Home Prices Indices, home prices across 10 selected cities rose an average of 8.6 percent compared to February 2012. When expanded to 20 cities, the figures were even better: up 9.3 percent.
“The numbers both reflects a general recovery, and is instrumental in that general recovery,” explains Susan Wachter, Professor of Real Estate and Finance at The Wharton School of the University of Pennsylvania. “The economy is recovering slowly, not robustly, but nonetheless it is recovering, and that is the major fundamental that’s supporting the housing market along with historically low interest rates.”
Wachter adds, “But then again, the recovery is aided by the housing market price increases which brings…
Read more: http://smu.edu.sg/perspectives/2013/05/29/parallels-between-us-and-asian-property-markets#.UadIRUBmB50
Philippines Real Estate Boom Expected To Continue In 2013
Wednesday 29 May 2013 – theexpat.com
If there is one industry that posted a stellar performance in 2012, it is real estate.
Players are optimistic that 2013 will be a banner year for the industry as well.
Cebu Holdings Inc. president Francis Monera said the real estate industry recorded a revenue growth rate of 18.8 percent in the third quarter in 2012, making it the fastest growing of all industries.
Jose Soberano III, chief executive officer of Cebu Landmasters Inc, said the real estate industry experienced “unprecedented growth” in 2012 in terms of new projects being launched and completed, increases in booked sales and rental income due to higher volume turn-over, and upward price movements.
“This actually continued the growth pattern already seen in 2011 but with a more frenzied take-up rate,” he said.
Remittances sent home by Filipinos working abroad and the booming outsourcing industry were major factors behind the growth of the industry. The liquidity in the market propped by available credit and financing support from the banking sector also fueled real estate’s performance in 2012.
“At no time in our economic history was credit so readily available for medium and long-term housing needs that it opened an influx of buyers from the low to medium strata of our economy,” Soberano said.
In the residential front, Monera said strong and steady influx of remittances, complemented by a healthy investing environment and low interest rates have encouraged more Filipinos to buy property.
Cash remittances in…
Boom Town Asia 
