Singapore: Prices of residential real estate began to rise again

The Singapore central bank has recently issued a warning before the dire situation of the real estate market as well as the decline of the labor market.

The price of real estate previously dropped sharply after the government implemented property controls since July last year, but recently started to increase again.

A recent financial stability assessment released by the Central Bank of Singapore (MAS) shows that the number of real estate inventory from new projects has more than doubled, reaching 4,377 units in the 3 quarter. MAS said that the oversupply situation will become more serious in the medium term when the re-investment projects are launched while the old transactions in the past 2 years have come to a “dead end”. The MAS report also pointed out that an increase in inventories could lead to a drop in selling prices in the medium term if demand for houses does not increase in the near future.


Following a drop in government tightening controls on new property controls in July last year, the price of recently sold real estate properties has rebounded to 1.3% in the previous quarter.

According to information provided by Singapore’s Urban Redevelopment Agency, the number of unfinished private real estate projects increased from 50,674 units in the previous quarter to 50,964 units by the end of this quarter.

MAS also warns individuals who participate in the market to be more cautious due to the instability of the economy as well as the decline of the labor market that may impact household income and reduce demand real estate shopping.

Specifically, MAS pointed out: “The instability in the economic outlook and the declining labor market may negatively affect the income and demand for real estate of households. In the context of a slow GDP growth rate, the expected increase in salary increase may reduce the ability of households to pay debts”.


Tricia Song, head of research at real estate services firm Colliers International in Singapore, said investor sales are likely to recover well this year. She also forecasts that prices for private apartments will stabilize and increase by about 2% in 2019.

According to Tricia Song, in 2020 housing prices will continue to increase between 2% and 3%, in parallel with GDP growth. However, if the downtrend occurs, it will inevitably lead to a decline in demand in the medium term and put downward pressure on real estate developers.

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New standards for luxury real estate

The criteria for buying an upper-class house do not just stop at the location but also a comfortable living space, full facilities, a civilized community and a harmonious living space with nature.

The increase in the upper class is the premise for the birth and development of the need to use luxury goods, exclusive items, unique service privileges. Accordingly, about accommodation and accommodation, the needs of the elites always want to choose an isolated living environment, high-class, fully furnished.

On the other hand, the elites are also the elite of society, the class that is always the pioneer in all fields and trends, they not only know to seize the opportunity but also enjoy the delicate life, choosing a nice place to live from inside the house to outside the community.

The world has long formed the living areas reserved for the rich. In Los Angeles, Beverly Hills is known as the home of Hollywood businessmen and stars. Or Hongkong with The Peak for tycoons. Seoul is also a famous city when Pyeongchang-dong has become a living address for many of the upper class in Korea.

In fact, the rich often have high standards for the home. For them, a home is not just a place to live, but a place to go true, worthy of expectation and class. In a way, these are the people who lead and guide the new way of life with strict requirements on landscape environment, privacy, security issues as well as luxury services and utilities.

Inspiration from nature is also the transparent material chosen to make a valuable difference of Ecopark Grand – The Island. Here, homeowners will fully enjoy the ecological living space with the scent of leafy plants, the color of flowers, the golden sunshine pouring down from the air and the sound of stillness.


Ecopark Grand – The Island possesses a high-class highlight from the surface of the water. In a large space of 60.4ha, the water surface here accounts for nearly 50% of the area. 100% of the villas have a water deck and a garden filled with tropical flowers reaching out to the lake.

The 1,000m2-wide villas are designed to “lean” into nature with most of the indoor space overlooking the garden and lake, making the most of natural light and fresh air. The entrance to the villa is covered by the vibrant green of flowers and trees, reminiscent of the connection between people and nature, between the land and water. The high ceilings create a feeling of airiness, the system of ceiling-to-floor glass doors provides an unlimited view, covering the entire green, smooth landscape outside the door frame.

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Potential increase in real estate prices in the area where the casino is located

Having these desirable numbers, partly from the strong growth in the tourism industry, but the main attraction comes from the fun activities – shopping – relaxation associated with casino activities.

In addition to the boom of online gambling form as well as online casinos podcast, casinos are considered a magnet to attract visitors and help boost the tourism industry of the host country, leading to real estate prices around the region.

Model of resort real estate associated with the world’s first casino developed by Las Vegas Sands (USA), integrating entertainment, shopping, and leisure activities. The birth of this model brings to a completely different look for Las Vegas, turning the desert land into one of the world’s most entertaining capitals.

According to the Macau Real Estate Opportunity Fund, housing prices in Macau have tripled between 2009-2014 and this increase is directly proportional to the revenue of Macau casinos. This is the time when the casino integrating entertainment activities – relaxation – shopping strongly started. In the first 8 months of 2018, real estate prices in Macau grew by 17.1% over the same period in 2017. According to The Time (UK), Macau is expected to become a country with the highest per capita income in the world by 2020.

In Singapore, in 2010, the casino was legalized for the first time here with two large casinos in the tourist resort complex, Marina Bay Sands and Resort World Sentosa Casino. After only 1 year, the revenue of the Singapore tourism industry increased by 20%, resulting in strong demand for accommodation and housing.


According to a Reuters announcement, house prices in the immediate vicinity of the Casino have increased by 60% over the five years from 2009 to 2013. A house in Sentosa, sold for $17 million in February 2016, has increased to $20.2 million in just 4 months.

One of the biggest contributing factors in increasing tourism revenue is the high-class resort service associated with the casino, which helps visitors stay more days. Complex populations with all kinds of utilities, meeting the needs of entertainment, relaxation as well as shopping  have brought visitors a unique, more interesting experience.

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Hong Kong real estate is sluggish, can lose up to 20-30%

The protracted protests with the US-China trade war make the Hong Kong real estate market difficult. Reduced supply makes Hong Kong real estate depreciate but still sluggish, according to SCMP.

Sammy Po, managing director of the residential division at Midland Realty, Hong Kong, said the state of Hong Kong has seen a sharp decline in prices and real estate transactions in Hong Kong. Some homeowners are willing to discount at least 10% in hopes of finding buyers quickly.

This person informed that when transactions fell, the real estate would be subject to fierce competition. This inadvertently results in approximately 20% of dealers in the city being forced to close.

“There are about 40,000 agents. We estimate there will be a total of about 4,000 to 5,000 transactions per month, which means that about 10 agents will have to compete for each transaction every month”, Mr. Po said.


Meanwhile, Mr. Wong, president of Midland Holdings, said that the secondary market will be hardest hit. This year is expected to have only 40,000 secondary transactions, marking the lowest level since 1996.

The number of secondary transactions was assessed to be even lower than in 2003, when Hong Kong faced Sars (severe acute respiratory syndrome). Mr. Wong said the possibility of secondary trading will decrease by 13% this year.

Midland said 4,072 properties for sale have been adjusted to reduce the selling price, up 58.6% compared to June 1. Its 6-month profit after tax also dropped 37.8% to Hong Kong $93.6 million ($11.93 million), as rental costs were higher but commissions were reduced due to intense competition.

Kết quả hình ảnh cho Bất động sản Hong Kong ế ẩm, có thể mất giá tới 20-30%"

The worst-case scenario offered by DBS Bank is that real estate prices could fall by 20% to 30% next year if tensions continue. Daniel Wong, chief executive at Midland IC & I, the agency affiliated with Midland Holdings, said other segments of the real estate market would also be affected.

In the worst-case scenario, the price of office buildings and shopping centers may drop by 30% by the end of 2020, while the price of industrial real estate may fall by 20%.

Midland IC & I announced profits for the first six months of the year fell 58% to Hong Kong $ 20.97 million. “The number of transactions of industrial, office and retail real estate this year can be reduced by 40% compared to last year to 5,200, marking the lowest level in history”, Mr. Wang said.

According to Centaline Group, in another development, an investor lost 14.4% when selling parking at Kingswood Villas in Tin Shui Wai. He bought it for 1.33 million dollars less than 4 months ago, but now only sells for 1.14 million dollars.

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Top of the most expensive real estate in sports world

It is undeniable that the income of famous players gives them life like kings with the ability to own dream homes. Below is a list of the most expensive real estate football village today.

It is undeniable that the income of famous players gives them life as kings with the ability to own dream homes. Below is a list of the most expensive real estate football village today.


The expensive star of the Brazilian team – Kaka once owned a house in Madrid with an area of ​​nearly 140m2, right near the house of his teammates. The house has a spacious gym, a warm indoor pool and 6 garages to protect his supercar collection.


Andres Iniesta

13 years ago Andres Iniesta built this house with 5 bedrooms, a swimming pool and a chapel. For some reason, after some time, the mansion was now sold by Andres to another person. Some tabloid sources said that the Andres player-owned this mansion not because of the money he earned while playing but from participating in online betting on the prestigious betting website Asiancasinotop10.

Mario Balotelli

The Balotelli house was designed in his inherent rebellious style. The striker of the Italian team designed an indoor pool, a cinema and many different bathrooms.


Lionel Messi

The Messi boy shows Messi’s love of soccer right on the design of his house. His home is built like a football field, on one side is a grass field and the other is a swimming pool. From above, the house looks like the number 10 – exactly the same number of shirts he wears when playing.

Cristiano Ronaldo

With the huge amount of money earned every year, Ronaldo easily built the house to his liking with 7 bedrooms, 8 bathrooms, 1 mini soccer field, 1 gym, 1 swimming pool and a variety of other levels.


Wayne Rooney

Built in 2004, Rooney’s home has 6 bedrooms, 1 swimming pool, 1 movie room, 1 wine cellar and a lot of other high-class utilities that many people dream of owning.

The old house of David Beckham

The Beckingham Palace area is extremely famous in the world real estate village. This villa was bought by Becks in 1999 with a recording studio, an indoor pool, a chapel, a professional soccer field to serve 6 members of the Becks family.

David Beckham’s new home

After leaving the old house, the family of the former England superstar has moved to a new house with 7 bedrooms, 1 gym, 1 wine cellar, 1 cinema. This new villa is now available. Valued at $ 46 million in the market and the most valuable real estate in the football world today.

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Dubai real estate continues to decline

Housing real estate prices in Dubai continue to decline in all segments across the emirate, following the adjustment process that has been underway for a relatively long time.

According to the recently published report of Property Finder, the price of apartments in Dubai in the first half of 2019 decreased by 11.7% compared to the previous two years and down 3.9% compared to the second half of 2018. Meanwhile , villa prices are also 12.1% cheaper than the same period in 2017.

Meeran Najeeb, managing partner of real estate brokerage firm Almas, said: “The ongoing adjustment will cause prices to fall further, while rental rates have not reached the bottom. The total housing supply in Dubai is expected to reach 637,000 units by the end of next year, up 10%”.


According to Kamco Research analysts, in the second quarter of this year, rents fell sharply in the affordable housing segment. Compared to 2 years ago, the current rental price of apartments is about 20% cheaper.

Most experts believe that price adjustment and ample supply will make Dubai a more affordable market, giving residents and investors the opportunity to buy good-price properties in one of the cities. The most developed and famous city in the world.

The report also revealed that the average asking price for apartments in Dubai is 1,163 dirhams (AEDs) per square foot. In the first 6 months of the year, many apartment projects had to lower the asking price, of which the deepest decrease was 6.2%.


In the villa segment, the projects that recorded the largest decrease in selling price in the first half of 2019 include: Damac Hills (down 8.2%), Emirates Hills (down 6.6%), Green Community Motor City (down 5.4%). Meanwhile, some projects have remained the same or dropped very little like Living Legends, District 1 of Mohammed Bin Rashid, Green Community DIP and Palm Jumeirah Signature Villas.

Lynnette Abad, Director of Data and Research of Property Finder, said people from well-known neighborhoods like Dubai Marina have moved in to new affordable villa projects that have been completed and handed over. “Families choose to live a little further in the outskirts of Dubai to be able to buy larger properties, with outdoor spaces like yards and gardens. We have also seen a large number of tenants who have previously become homeowners, especially in these new villa communities.” Apartment sales in Dubai are down 5% while villa sales are up to 35%. For the whole market, sales are assessed to be stable, not much different from 2018.

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A new housing model for young people in Southeast Asia

Instead of living in self-contained apartments, many young people in Asia are tending to choose to live in a new “co-living”, where they can meet people of the same lifestyle and interests. .

On September 5, the Funan Singapore housing complex – the largest co-living model in Southeast Asia today – was opened to the media, before being put into operation.

Funan Singapore has a floor area of ​​over 36,576 m2, with 279 apartments and 412 bedrooms. The building has 5 types of apartments, with areas from 18m2 to 105m2, with apartments with up to 6 bedrooms.


Located in the heart of Singapore’s residential and cultural district and in the newly rebuilt Funan shopping center, residents of this residential area will have easy access to eateries, retail stores, and gyms. fitness center and theater in the business center.

They can also cook in the shared kitchen, exercise and have fun with many funny interactive devices with huge sizes such as ball holes or gym called “Burn” … , or can chat with people in the same house while waiting for washing to finish at “Wash & Hang Laundry”.

Ascott Limited’s Deputy CEO Mindy Teo – the developer and operator of the property, which is owned by CapitaLand – says the property management team strives to build weekly social programs, focus on community building elements such as cooking classes, film shows… so that residents of this co-living area can interact and integrate with the locals or experts.


Mindy Teo said young people are accounting for a quarter of Ascott Limited’s customer base and expect this percentage to increase. The emergence of co-living provides an effective solution: an alternative way for people to live together as family, reduce rent, or live together in small rooms.

According to Mindy Teo, after Funan Singapore, the company will open 7 similar buildings in Bangkok (Thailand), Fukuoka (Japan), Kuala Lumpur (Malaysia), Cebu Island (Philippines) and Shanghai (China) in the next 3 years.

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Cristiano Ronaldo – from superstar pitch to real estate giants

Currently, it can be said that Cristiano Ronaldo is the real estate tycoon in the football world when the number of apartments, villas and hotels owned by this star is extremely valuable.

In 2002, Cristiano Ronaldo officially entered the professional football path when he was 17 years old in the colors of the Sporting Lisbon team. With his gifted, progressive, hard working and serious training attitude, Ronaldo has become one of the best goalscorers in the world.

Although there are still some non-talk about his arrogant-looking style, the whole world must be admired because behind that arrogant image is a player who is always strict with himself and a heart. kind in volunteer activities and a sharp head in business, especially real estate investment decisions.


It can be said that Ronaldo is the real estate tycoon in the football world when the number of apartments, villas and hotels that this star owns is extremely valuable. He owns a series of prestigious real estate chains in the world such as Pestana CR7 Hotel named after him built in his home town of Funchal, Madeira. This hotel is part of a series of 4 hotel projects invested by Ronaldo with the leading hotel group in Portugal. It is expected that Ronaldo will continue to expand to 3 more hotels in Lisbon, Madrid and New York in 2017.

The superstar has spent 140 million EURO to own a 7-star hotel in Monte Carlo, Monaco. Next are 4 villas and houses in Cheshire that Ronaldo bought while playing under the color of MU shirt. And not to mention the Luxury Apartment located in Trump Tower in New York worth 18.5 million USD was completed by the world famous designer Juan Pablo Molyneux and owns the most beautiful and second vision in New York.


Most recently, Ronaldo announced his latest property in Asia as a high-class apartment in Cocobay Towers twin towers. This is the building that owns the highest crystal bridge in the world that is currently expected in Southeast Asia with the marvelous architecture designed by Atkins – one of the leading design companies in the world and Comprehensive development by Empire Group.

True to his personality, he quickly became the first owner when the twin towers were launched in Madrid, Spain. CR7 apartment has a choice of views towards the vast East Sea, overlooking the majestic Marble Mountains and the poetic Co Co River.

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The most affordable Detroit home price for the middle class

According to the report of Redfin, a typical middle-class household in Detroit, the United States only needs to save less than half of its total annual income to be able to buy a house with a median price at here.

A recent study by Redfin real estate company surveyed the relationship between average household income and average home prices in major US cities. Accordingly, Detroit home prices are considered the most affordable because a household here only needs to spend nearly half of their income in the year to be able to own a house in the middle segment.

Meanwhile, in San Francisco – America’s most expensive housing market, a similar household takes 3 years of income to have the opportunity to own their own home. Specifically, the average household income here is 92,714 USD, far less than the 265,000 USD needed each year to buy a house with an average price of about 1.42 million USD.


All five of the most expensive, big cities are located in California. In Anaheim, including Orange County, a household needs to earn $135,554 per year to buy a regular home, while the area’s average household income is only $65,331. In San Jose, a household needs more than $215,000 a year to buy, double their real income. The same story happened in Los Angeles and San Diego.

Redfin’s real estate broker, Kalena Masching, said: “In expensive areas like the San Francisco Bay Area, many people are said to earn a lot of money but can’t afford to buy that house. Even those who are able to pay more than $7,000 per month for mortgage payments are also having difficulty saving enough initial payments when signing a purchase contract. The rent is too high, making it harder for them to save. A lot of people who buy houses in this area are asking for help from their families to pay”.


In contrast, people in the cities of Detroit, Rochester and Buffalo in western New York, or Dayton, Ohio, can earn less, but their home-buying war seems much easier. There are places where families only need to earn about $30,000 per year, which is only half the average household income, to buy a regular home.

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The Australian housing market suddenly increased heat again

After two consecutive years of slipping, Australian prices seem to have bottomed out and started to reverse. Buyers and investors are busy looking for deals recently, making this market hot again.

Recently, an auction was held to find a buyer of a 4-bedroom house in Ryde, a suburb of Sydney that attracted about 100 participants. The first bidder boldly paid more than A $226,000 (AUD) compared to the starting price. Finally, the house made a big sound when it was sold for nearly 1.5 million AUD (about 1 million USD) – the figure was only seen in years of Australian property boom.


Phil Allison, a broker in charge of the million-dollar transaction, said: “Currently, many people are concerned that house prices have bottomed and will increase in the next 6-12 months. Therefore, they are trying to close the deal now to get good prices. Only about 6 months ago, it was hard to organize an auction for a house not far away”.

The unexpected turning point in the positive sentiment of home buyers may stem from three factors: Australia’s central bank cut interest rates, pushed mortgage rates to a record low; The agency loosened mortgage loan tests and re-elected Prime Minister Scott Morrison in May.


The recovery of the real estate market is a rare bright spot in an economy being judged to be stagnant. Rising home prices can contribute to strengthening consumer spending by making homeowners feel wealthier.

House prices in Sydney – Australia’s largest real estate market – have increased in the past two months, according to CoreLogic data. Economic experts have forecast this momentum will continue to last next year. Previously, the price of houses here has plunged for nearly 2 years, down 15% from the peak recorded in July 2017. Last month, house prices in Melbourne, Brisbane, Hobart and Darwin also recorded an upward trend.


Paul Bloxham, an economist with HSBC Holdings in Australia, predicts: “We believe that house prices will rise by a single digit in the coming quarters. It is a combination of lower interest rates and prudent settings that have been relaxed more than before”. The Federal Bank – the country’s largest mortgage lender – also said that the housing market has shifted.

Mr. Matt Comyn, CEO of the Federal Bank, said: “The housing market is starting to stabilize and may improve slightly from here. Overall, we see that the price increase is still quite modest, while credit growth also recorded a similar situation”.

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