Real Estate Insights

Australia Housing Market In A Downturn, and Decreasing

Australia Housing Market

The housing downturn in Australia continued into November but slowed down, which suggests the real estate market is starting to respond to rising borrowing costs and even the possibility of future interest rate hikes.

Sydney, the bellwether market, where prices fell 1.3% for a 10th consecutive monthly decline, was mostly to blame for the slowdown in the rate of correction, according to a data released on Thursday by CoreLogic Inc. The national index, which incorporates regional markets, experienced its smallest decrease since June in November, down 1%.

The numbers indicate that despite the greatest monetary tightening cycle in a generation, the A$9.7 trillion ($6.5 trillion) property market is holding up fairly well. Since May, the Reserve Bank has increased interest rates by 2.75 percentage points, bringing them to 2.85%.

According to Tim Lawless, research director at CoreLogic, “perhaps we are seeing the initial concern over buying in a higher interest rate environment wearing off.” However, it’s accurate to state that housing risk is still heavily weighted to the negative as long as interest rates continue to rise and household balance sheets continue to deteriorate.

A top RBA official voiced optimism in the Australian property market on Wednesday, noting that prices are still 20% higher than they were at the start of the epidemic. Additionally, as unemployment is at its lowest point in nearly 50 years, borrowers are in a good position to make their obligations, and loan arrears are expected to be kept to a minimum.

“Perhaps we are seeing the initial apprehension over buying in a higher interest rate environment wearing off,” says Tim Lawless, research director at CoreLogic. As long as interest rates keep rising and household balance sheets keep getting worse, it is true to say that housing risk is still significantly skewed in the wrong direction.

On Wednesday, a senior RBA official expressed optimism about the Australian real estate market, noting that prices are still 20% higher than they were before the pandemic. Borrowers are also in a good position to meet their obligations because unemployment is at its lowest level in almost 50 years, and …

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Japan
Guides

Japan Top Visited Country for Thais in 2022 and 2023

According to a recent Visa research, Thailand’s top five travel destinations are Japan, South Korea, New Zealand, Singapore, and the United Kingdom. The Nordic nations are near the bottom of the list.

The survey of 2,000 Thai citizens also found that travel costs (65%), weather (49%) and a desire to see new locations (48%) are the three most important considerations when picking an international vacation destination.

Thai visitors have increased their demand due to the recent pandemic, according to Pipawin Sodprasert, Manager of Visa in Thailand. We want to learn more about the conduct because it has been so long since we have been able to tour the world and because many nations have reopened their borders. Considering the shifting exploration needs of Thai tourists.

This study also discovered that travelers from Thailand are willing to waive travel restrictions caused by overseas COVID-19 control measures. Only a third (35%) are worried about the place’s policy of opening up. Only one in five participants (23%) expressed anxiety about the COVID-19 outbreak as they were making travel plans.

Spending time with family and friends (42%), seeing new locations (61%), and visiting a favorite location (36%) are the top three motivations for traveling abroad.

In terms of preparation The majority of Thai tourists opt to completely plan their own vacations (41%), while the rest either select package tours (11%), private tours with flexible itineraries (21%) or both.

Why Japan is Top 1 For Thai’s Travelers

Japan is one of the top visited country for Thais because for three main reasons. The first reasons is the middle-haul flight from Bangkok to Japan. The flights prices are reasonable with many options to choose from such as: budget airlines, national airlines, or even can take a layover at countries where Thais do not need visa and travel some more. Secondly, because of the current exchange rate is very affordable for Thais. The big drop yen is attracting lots of Thais to travel to Japan. Lastly, Japanese culture, food, and tradition is very culturing for Thais. They love the food, the quiet culture, and of course the …

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US Housing Market
Real Estate Insights

US Housing Market In A Slump in 2022

The US housing market boom, which lasted for ten years, is over, and the market has become strangely calm.

Both sellers and buyers are making room in the US Housing Market. The real estate professionals who helped them during the epidemic housing craze are now left scrambling for listings or leaving the industry as deals plummet.

Inventory is remaining low, keeping values from declining further as housing prices decline in the most volatile areas and the economy teeters on the brink of recession. However, the industry is in a state of disarray as a result of the upheaval brought on by skyrocketing mortgage rates, which are a result of the Federal Reserve’s campaign to fight inflation. The market is also indicating that tougher days are ahead.

According to Zillow data, sellers listed 24% fewer houses in October than they did a year earlier, marking the fourth consecutive month of a decline. Purchases decreased at the same time and are currently 17% below their October 2019 levels, before Covid hit.

Brokers are having trouble finding buyers because a typical home is now only affordable to those making over $100,000. Try persuading a homeowner to sell as well, especially if doing so would require switching from a 3% mortgage to a lot more expensive one.

Professor of real estate at the Wharton School of the University of Pennsylvania, Benjamin Keys, compared the market to Han Solo in carbonite and said, “This is a market that could stay frozen for quite some time.”

US Housing Market Pressure on Buyers or Sellers?

According to Zandi, homeowners holding off for the time being are waiting for a larger decrease in rates, which would make it simpler to sell and less expensive to acquire anything else. However, when more people get married, have children, or change jobs, there will eventually be a steady rise in listings.

Regarding a future economic slump, Zandi said, “Once the employment market starts to flip — and it will — the pressure will accelerate.” People will need to relocate.

Any additional listings will face competition from houses that are currently …

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Hong Kong Property
Guides Real Estate

Hong Kong Luxury Property Sales Slump Heading Towards 2023

Hong Kong, one of the least affordable housing markets in the world, is experiencing a rare downturn, and the impact on the city’s luxurious property market is obvious.

A 1,875 square foot (174 square meter) apartment for sale in the Repulse Bay neighborhood on the southern tip of the island, where some of the most expensive properties in the world are situated, is currently advertised for HK$95,000 ($12,160) per month, 17% less than the rate it was leased for the previous year. A real estate brokerage that is closer to the central business district advertises on its window that it is “confronting the reality” by listing an apartment for HK$30 million after a HK$2 million discount.

Residential, office, retail, and primary and secondary markets are all affected by the slowdown in Hong Kong’s real estate market. Although there are many high net worth individuals who live in the financial center, the top end of the market has not been spared. According to real estate organizations, there are fewer transactions on the market, prices for sales and rentals are dropping, and there are fewer people viewing homes.

According to a price index from Knight Frank, the migration of expats, closed borders with the mainland, interest rate increases, and an unsteady global macroeconomic climate have all contributed to the decrease of luxury home prices to a 15-month low. High-end home values are predicted by Savills Plc to fall further five to ten percent by 2023. According to Centaline Property, only 1,800 luxury properties will be sold in the year 2022, the lowest in nine years. 

Why Hong Kong Property Market Is In A Slump 

The recession in Hong Kong’s property market has an impact on all sectors of the economy, including residential, office, retail, primary, and secondary markets. Even though the financial hub is home to many high net worth individuals, the top end of the market has not been spared. Real estate associations claim that there are fewer transactions taking place on the market, prices for purchases and rents are falling, and fewer people are looking at houses.

Expatriate movement, tight …

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Thailand Property
Guides Real Estate Insights

Thailand Property Top Nationality Homebuyers in 2022

After the foreign land ownership idea was withdrawn, the Thailand property market anticipated that increased uncertainty would attract wealthy foreigners, especially those from the US, Myanmar, Canada, and Saudi Arabia, to invest property abroad and not invest property in Thailand. 

The foreign land ownership is about foreign investment into property in Thailand or Bangkok or any of the top regions in Thailand. Foreigners who visit Thailand frequently, fall in love with the country. Thailand has a decent standard of living, good public transportation, in a strategic location of Southeast Asia, fast internet connection, and more. There are various reasons for foreigners from the US, Europe, Middle East, and Asia to invest in Thailand properties. 

The US, Myanmar, and Canada nationals, according to Artitaya Kasemlawan, head of residential sales for project, advice, and transaction services at real estate consultant CBRE Thailand, were active buyers in the luxury market condo in Thailand segment. 

American buyers of Thai real estate continued to dominate, she said. But following the pandemic, active American purchasers switched from conducting business abroad to doing business domestically.

On the other hand Myanmar are active buyers in Thailand due the political crisis going on in the country. Myanmar citizens are active buyers for condos for sale in Bangkok and mainly in the mid-market. In all kind of condo segment, Asia market is open to trendy and stylish condos in Bangkok. Even pet-friendly condos in Bangkok and Pattaya main buyers are from China. 

She claimed that these buyers were familiar with Thailand’s surroundings and condominiums. Before opting to purchase a property, they had taken multiple vacations to the nation. They spend approximately $100 million on property on average in Thailand.

CBRE observed an increase in demand for condos costing 50 million baht or more during the third quarter of this year.

Canadians, according to her, were also active buyers this year. They did represent the largest foreign buyer group in Phuket through CBRE, purchasing both condominiums and villas.

“Buyers from European nations have returned, including those from Scandinavia, the UK, and Russia, as Thailand continues to be a popular destination for …

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pet-friendly condos in Pattaya
Guides Real Estate Insights

Best 5 Pet-friendly Condo in Pattaya

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Pattaya is an enjoyable and bustling province of Chon Buri, Thailand, and is well-known for its lively beach town. The city provides plenty of new accommodations with its growing popularity among locals and expats similar to work, travel, and set up businesses in Pattaya. Today our guide is on for you to find pet-friendly condos with your furry friend, as moving to a new city alone is daunting. Searching for pet-friendly condos to buy in a lively city such as Pattaya, many property developers now offer pleasant pet-friendly condominiums. Read on to find out more where the top 5 pet-friendly condos in Pattaya we recommend.

Top 5 Pet-friendly Condo in Pattaya

The Riviera Ocean Drive

The first one of 5 pet-friendly condos we recommend is The Riviera Ocean Drive. The project is a comfortable environment; their facilities provide convenience to residents and their pets. 

Riviera Ocean Drive is an international quality standard condominium. Their room types are studio bedrooms (22.5 Sq.m) and -2 bedrooms (104 Sq.m) across 43 floors. Moreover, the project provides convenient facilities inside the condo, such as swimming pools, convenience stores, and eateries. And the project’s common area allows your pet to come and go for a walk and play during the evening, which meets pet owners’ needs. 

Siam Oriental Plaza

Siam Oriental Plaza is a well-known pet-friendly condo in Pattaya. The project is Pattaya, Chon Buri. There are plenty of facilities nearby this lovely community, including eating spots and pubs. The project is also close to Phra Tamnak Mountain Viewpoint, just 950 meters from your home. 

Siam Oriental Plaza is a low-rise development with eight floors each. The room types are studio bedrooms-3 bedrooms and the condo units’ room type sizes from 27.5-176 Sq.m. Every condo unit allows you to bring small pets such as cats, dogs, and rabbits. Furthermore, the project provides numerous leisure facilities; you can walk your pet to the playground or play with them in the clubhouse. Additionally, the project is close to local attractions, including Khao Phra Bat Pattaya and Bali Hai Pier.

Jada Beach Condominium

Jada Beach Condominium project …

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Private Pool Villa in Phuket
Default Real Estate Insights

How To Improve Your Property Listing

Updated on

Your property listings may have been advertised on various real estate portals or websites, but you are receiving few queries. It’s time to be upfront and direct, as you are to blame if there is no interest in you or your property listings. You might be overcharging for rent or sale price, or you need to introduce your property to potential buyers adequately. 

Below are a few tips to get you started and get more queries about your property listings in various locations worldwide. 

Getting The Price Right

Whether you are renting or listing your property for sale on the website, you have to get the price right. It is a very tricky situation, as getting the price right is about understanding the present market conditions and how the market might turn in the next six months or a year. 

One of the best ways to get the price right is to take time to do a bit of self-researching before talking to an agent. Go onto any real estate portal website and filter to your district, property type, bedroom, size, and more. From there, look at the average price of your property, and you can set a target price that is good for you. 

Property Listing Price Get it Right

Do Basic yet Minor Property Repairs

By repairing a few simple home renovations, you will improve the look of your property. Look at your main living room area or bedrooms and consider how you could enhance their appearance. For example, you may need to paint a wall in your living room which can increase the number of your property listings queries. According to The Thaiger and Bangkok-based baked property consultant Anjana Arora, “if you see a quick repair such as a water leak, do it right away. Always keep your property in peak condition. 

Quality Images

As the old saying goes, a picture is worth 1,000 words. You will need quality images to increase queries for your property. Consider hiring a professional photographer, as it’s a good investment you are making for the future. There are hundreds or thousands of property listings, and a majority …

Continue Reading
Homeownership Generational Gap Trend in 2022
Real Estate Insights

Homeownership: The Generation Gap Trends in 2022

The generation gap in homeownership is a topic of interest to many people. Many factors can contribute to the difference in homeownership rates between younger and older millennials. For example, the age group of younger millennials is between 23-31 years old for a generation born between 1990-1998. On the other hand, older millennials are the age group between 32-31, born between 1980-1989. 

The generational homeownership gap study affects property markets worldwide, as the decision-making process to purchase homes and real estate are similar.

Generational Difference in Homeownership 

Younger Millennials are more likely to be renters than homebuyers. This is because they are less likely to have the financial stability and income needed to purchase a home. Older Millennials, on the other hand, tend to be homeowners who have more financial stability and higher revenues.

A study by the National Association of Realtors found that in 2022, only 36% of people aged 18-34 were homeowners. This is compared with 65% of people aged 35-44 and 76% of people aged 45-54 who were homeowners.

While there is a significant difference between younger Gen Y and older Gen Y in terms of homeownership rates, it’s important to note that both groups can still buy the property or purchase a house for sale if they want it enough.

The most obvious factor is the economy. Younger Millennials entered the workforce during a time when there was a significant economic recession, so they may have had more difficulty saving for a down payment. Conversely, older Millennials entered the workforce when there was an economic boom, so they may have had less trouble keeping a down payment.

The study represents data collected by age groups into three categories.

  1. Gen Z buyer: age (18 – 22, year born 1999-2011)
  2. Younger Millennials: generation (23-31, born 1990-1998)
  3. Older Millennials: generation (32-41, born 1980-1989)

We will dive right into representing the difference between younger and older millennials, as this is where the main parameters and metrics are discussed. Comparing these two main generational groups is where the main buyers are in real estate for all types of markets. Whether low …

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Model House for Sale on Black Laptop Keyword
Guides Real Estate Insights

Improve Property Listings: [5 Easy Tips to Increase Your Queries]

Your property listings may have been advertised on various real estate portals or websites, but you are receiving few queries. It’s time to be upfront and direct, as you are to blame if there is no interest in you or your property listings. You might be overcharging for rent or sale price, or you need to introduce your property to potential buyers adequately. 

Below are a few tips to get you started and get more queries about your property listings in various locations worldwide. 

1.Getting The Price Right

Whether you are renting or listing your property for sale on the website, you have to get the price right. It is a very tricky situation, as getting the price right is about understanding the present market conditions and how the market might turn in the next six months or a year. 

One of the best ways to get the price right is to take time to do a bit of self-researching before talking to an agent. Go onto any real estate portal website and filter to your district, property type, bedroom, size, and more. From there, look at the average price of your property, and you can set a target price that is good for you. 

2. Do Basic yet Minor Property Repairs

By repairing a few simple home renovations, you will improve the look of your property. Look at your main living room area or bedrooms and consider how you could enhance their appearance. For example, you may need to paint a wall in your living room which can increase the number of your property listings queries. According to The Thaiger and Bangkok-based baked property consultant Anjana Arora, “if you see a quick repair such as a water leak, do it right away. Always keep your property in peak condition. 

3. Quality Images

As the old saying goes, a picture is worth 1,000 words. You will need quality images to increase queries for your property. Consider hiring a professional photographer, as it’s a good investment you are making for the future. There are hundreds or thousands of property listings, and …

Continue Reading
Singapore

Singapore the Land Of Opportunities in 2021

Updated on

The land of opportunities is a clear definition of Singapore and what it has to offer. For that reason,
economists are urging businesses to take advantage of what the County provides and relocate. Many
high-profile investors are taking advantage of the myriad Singapore investment opportunities. Besides,
highly qualified employees, managers, and executives are also relocating to Singapore to take advantage
of the emerging business opportunities.

Why Should I Relocate My Business To Singapore?

Relocating business to Singapore offers numerous opportunities to the business owner. According to
reports from the World Bank, this is one of the easiest places to do business. Singapore offers an
attractive tax structure, excellent infrastructure, investor schemes, and a robust economy. Besides, with
qualified employees moving into the Country, there is a competitive quality workforce available.

How Is The Infrastructure In Singapore?

Singapore is known for having some of the finest infrastructures in the world. The government stool
continues to look for cutting-edge technology to use in their infrastructure to keep up with the latest
technology. The country offers some of the best trade ports, excellent public transport options. and
modern Singapore real estate structures. The country is also known for its advanced info-communication
infrastructure in the world.

What Is The Lifestyle In Singapore?

Before investing in any Singapore Condos, you need to make sure that you can fit into the lifestyle that
the country has to offer. The good news with Singapore is that it is one of the most incredible places to
live. It offers a balanced lifestyle of both work and play. The city is known to be vibrant and has many
recreation places. The country has multicultural Mecca with various attractions.

What Is The Price Of The Properties?

The price of properties will depend on the type of investment you are planning on making. Singapore
Villas will cost you more than Singapore apartments. But here is a look at the average price of the various
homes:

1 bedroom: SGD 1.500.000
2 bedrooms: SGD 2,500,000
3 bedrooms: SGD 3,000,000

Work With Real Estate
Looking for the right Singapore rental to use your office …

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