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Showing posts from April, 2023

The Most Expensive Office Markets in the World Have Been Revealed.

  Hong Kong retains its title as the world's most expensive market.  houses for sale Despite the fact that rents are expected to decrease in 2019, Hong Kong will maintain its status as the world's most expensive office market, according to Knight Frank's latest Global Outlook Report. In a tale of two halves, while Hong Kong Island rentals benefit from limited supply, they will face increasing competition from lower-cost areas such as Kowloon. Despite this, Hong Kong Island rents would remain nearly 24% higher than the long-term average.   The cities with the highest rental increases in 2019 will be Melbourne and Sydney, with rents increasing by 10.1 percent and 8.6 percent, respectively. Owing to job growth and relatively low levels of construction completions in recent years, both cities are experiencing a shortage of office space. In both cities, prime rents have risen steadily in the last year, increasing by 13% in Sydney and 6% in Melbourne.   Although ...

Kuala Lumpur is Asia's fastest-growing city for coworking space.

  Kuala Lumpur's versatile workspace center supply increased by 36% in 2018, making it the fastest-growing main city in the APAC area, outpacing Gurugram, Chennai, Brisbane, Hong Kong, Sydney, and Singapore.  studio qatar Despite some of the most expensive markets for office space in the Asia-Pacific region dropping, research by Instant Offices reveals why Kuala Lumpur remains a competitive center of operation for domestic and foreign markets.   Hybrid office space supply increased by 31% in Kuala Lumpur last year, while pure co-working space and serviced offices saw 10% and 7% growth, respectively. The demand is solid, with an average desk rate of RM 886 across the region. The city's demand for space continues to grow, as more companies opt for flexible workspace and corporates over conventional offices. This low-cost, low-risk method of sampling the local market is also being used by international companies.   There are 112 Flexible Workspace Centers. ...

Technology is forcing significant changes in Asia's commercial markets.

  In 2018, APAC real estate funds and institutional investors are expected to lead investment activity.  for sale apartments According to CBRE's 2018 Asia Pacific Real Estate Market Outlook Report, the commercial real estate market in Asia Pacific will be increasingly characterized by evolving business conditions, technological innovation's rising impact, and occupiers' demand for a better user experience. Investors can refine their investment strategies to best take advantage of evolving occupier demands in the area as a result of strong market changes.   "With the age of yield compression coming to an end, income growth is expected to become the primary driver of capital growth. Investors would need to employ strategies that take advantage of rising rental cycles in specific markets while also reinforcing an emphasis on asset management as a means of boosting rental income "CBRE Asia Pacific's Chief Executive Officer, Steve Swerdlow, said.   As a r...

China retains its position as the most appealing manufacturing market in the world.

  According to a new report from Cushman & Wakefield, China has regained first place as the most attractive manufacturing market, reaffirming its position as the sector's powerhouse. Malaysia, which was ranked first last year, is now ranked seventh, behind Lithuania.  qatar real estate   The Manufacturing Risk Index report from Cushman & Wakefield ranks 42 countries based on a variety of risk and cost factors, such as political and economic risk, business conditions, and labor costs, to provide a quantitative assessment of their attractiveness.   Despite cost-sensitive output increasingly shifting to lower-cost countries in the Asia Pacific region, China was ranked first in the baseline index due to its efficient supply chains and infrastructure networks, which continue to provide a stable export platform. Malaysia has dropped to third place as it transitions from a low-cost to a high-value manufacturing center, but the nation remains highly attractiv...

Consumer Patterns and the Retail Landscape in Hong Kong are Changing Due to E-Commerce.

  Retailers and landlords in Hong Kong must welcome reform.  real estate qatar The emergence of e-commerce is expected to post substantial growth and disrupt the local retail industry in the next few years, according to JLL's new retail white paper, "Reimagining Retail - Bricks, Mortar, and the Evolution of E-Commerce in Hong Kong." Smaller mom and pop stores, regional shopping malls, and smaller shopping centers are projected to face direct e-commerce rivalry. To survive, prosper, and ride the wave of the future, landlords and retailers must adopt emerging technology, new resources, and new retail strategies in order to survive, thrive, and ride the wave of the future.   Hong Kong has lagged behind many other major global cities in terms of online transactions as a percentage of overall retail sales. However, according to industry figures from the Hong Kong Trade Development Council, online sales grew at a CAGR (Compound Annual Growth Rate) of 15.1% between 2011 an...

Transparency in Asia Pacific property markets is being aided by technology.

  Proptech adoption offers a huge opportunity for mature economies in Asia Pacific, such as Singapore, Hong Kong, and Japan, to advance real estate transparency. According to JLL's Global Real Estate Transparency Index (GRETI) 2018, these top investment destinations are on the verge of joining the 'Highly Transparent' category, which includes countries including Australia, New Zealand, the United States, and the United Kingdom.  qatar property "The proptech sector is rapidly expanding, especially in Asia," says Jeremy Kelly, Director, Global Research, JLL. "However, adoption remains low in comparison to North America and Europe." "Proptech's possible advantages aren't only limited to open markets. It may also aid transparency in semi-transparent markets such as China, which has a thriving proptech sector but lacks conventional data sources."   According to Denis Ma, Head of Research at JLL in Hong Kong, "Hong Kong remains one...

In the midst of political unrest in Hong Kong,

  developer bids for the Kai Tak site have dropped by 67%. In 2020, land prices in Hong Kong will begin to fall.  doha house According to JLL's latest Residential Sales Market Monitor Study, the average number of bidders for residential sites in Kai Tak fell by 67 percent from two years ago to just 5.5 in 2019. Developers have been more selective with their land acquisitions as a result of this.   When the tender for the residential site (NKIL 6554) at Kai Tak was declared on November 13th, it received four bids. This, along with NKIL 6577, which sold in July, is the smallest number of bids received among residential sites sold in the area so far. This year, the total number of bidders for residential sites in this region fell to 5.5, down from 6.5 in 2018 and 16.3 in 2017.   JLL's senior director of Capital Markets, Henry Mok, said, "This is due in part to an increase in the number of consortiums bidding for government property, especially for larger-sca...

In Asia, city competitiveness and quality of life outrank economic clout when it comes to commercial real estate decisions.

  Several Asian cities are emerging as competitive real estate markets, according to global real estate consultancy JLL, as investors and occupiers increasingly weigh factors like quality of life, creativity, sustainability, governance, and durability in their investment and location decisions.  housing According to the new research from the real estate consultancy for The Business of Cities, a city's economic dynamics are no longer the primary attraction. Overall competition, which the firm assessed across more than 500 indices, is more important to investors and occupiers. According to Stuart Crow, CEO of JLL Asia Pacific's Capital Markets, "More capital is flowing into Asian economies with advantages in terms of quality of life, creativity, and institutional power. Over the last three years, 'Developed World Cities' with strengths like Singapore, Tokyo, Seoul, Beijing, Shanghai, Hong Kong, and Sydney have attracted a total of US$65.3 billion." "O...

Asia Pacific has the world's fastest-growing data center market.

  The demand for data centers in Hong Kong continues to grow.  qatar properties for sale Hong Kong, Singapore, Sydney, and Tokyo are the chosen locations for data center investment in Asia Pacific, according to global property consultancy JLL, due to their strong infrastructure, connectivity, and relative ease of doing business. With the rising demand for data storage, more businesses are opting to rent a portion of a facility rather than purchase one. As a result of this demand, Asia Pacific revenue for shared or colocation data centers is projected to surpass that of the United States, increasing to 40% of global revenue by 2020.   Asia Pacific is experiencing a surge in data produced from various digital products and services, owing to the region's rapid urban population growth and adoption of e-commerce. Businesses are increasingly storing their data on cloud storage to cope with the volume of data. Leading cloud providers such as Google, Amazon, Microsoft, and ...

Chile's office sector has grown to become the third largest in Latin America as a result of economic growth.

  Santiago will reportedly add approximately 658,000 square meters of Class A and AB office space to the commercial market over the next 18 months, the second largest planned office stock addition in Latin America, due to demand fuelled by Chile's continued economic growth and high levels of Foreign Direct Investment.  apartment for sale in qatar   The region near the Parque Araucano is one part of Santiago that is experiencing substantial office sector growth due to building density and limited available land in the heart of the "Sanhattan" commercial center. Over the next 16 months, approximately 200,000 square meters of office space is expected to open in this city. Avenida Las Condes is another area where office buildings are being built at a rapid pace.   The Costanera Center in Providencia, which consists of four office buildings, is one of Santiago's most prominent commercial projects under construction. With a height of 300 meters, one of these buildi...

Chile's government has established a special committee to track the real estate sector's risks.

  The Chilean Financial Stability Council (Consejo de Estabilidad Financiero) has announced the formation of a new group to track residential real estate sector risk in response to concerns about rising prices. Representatives from the Ministry of Finance, the Central Bank, and the Superintendents of Pensions, Securities and Insurance, and Banks will form the committee, which will work to recognize and track structural risks to local financial stability.  buy property in qatar   Chilean real estate prices have risen dramatically over the last nine years, with the last two years accounting for the majority of the increase. Between January 2004 and September 2012, the portion of the Chilean Construction Chamber's Housing Price Index that tracks the price of houses increased by about 45 percent. The dramatic increase in the index from around 115 in April 2010 to 145.3 in September 2012 is particularly noteworthy.   The rise in apartment prices has been notable a...

The sharpest price corrections in Hong Kong's commercial market after the 2008 crash.

  However, in the second half of 2020, price corrections will be less serious.  Properties for sale in Doha Hong Kong's commercial property leasing and investment markets experienced the sharpest correction in the first half of this year since the global financial crisis in 2008, according to international property consultancy JLL. However, according to JLL, the price correction in the next six months will be less serious, and there will be signs of optimism in the medium term.   In the first half of 2020, mass residential capital values are resilient, but increasing unemployment will put downward pressure on home prices by the end of the year.   Owing to the ongoing confusion surrounding COVID-19, corporations are delaying decisions on office specifications. In the first half of this year, new lettings in the overall Grade A office industry fell by 53% in terms of floor area as compared to the same time last year. The total Grade A office market saw a nega...

Chile's office sector has grown to become the third largest in Latin America as a result of economic growth.

  Santiago will reportedly add approximately 658,000 square meters of Class A and AB office space to the commercial market over the next 18 months, the second largest planned office stock addition in Latin America, due to demand fuelled by Chile's continued economic growth and high levels of Foreign Direct Investment.  qatar seal   The region near the Parque Araucano is one part of Santiago that is experiencing substantial office sector growth due to building density and limited available land in the heart of the "Sanhattan" commercial center. Over the next 16 months, approximately 200,000 square meters of office space is expected to open in this city. Avenida Las Condes is another area where office buildings are being built at a rapid pace.   The Costanera Center in Providencia, which consists of four office buildings, is one of Santiago's most prominent commercial projects under construction. With a height of 300 meters, one of these buildings, the Gran Tor...

Chile's government has established a special committee to track the real estate sector's risks.

  The Chilean Financial Stability Council (Consejo de Estabilidad Financiero) has announced the formation of a new group to track residential real estate sector risk in response to concerns about rising prices. Representatives from the Ministry of Finance, the Central Bank, and the Superintendents of Pensions, Securities and Insurance, and Banks will form the committee, which will work to recognize and track structural risks to local financial stability. doha property finder   Chilean real estate prices have risen dramatically over the last nine years, with the last two years accounting for the majority of the increase. Between January 2004 and September 2012, the portion of the Chilean Construction Chamber's Housing Price Index that tracks the price of houses increased by about 45 percent. The dramatic increase in the index from around 115 in April 2010 to 145.3 in September 2012 is particularly noteworthy.   The rise in apartment prices has been notable as well....

The sharpest price corrections in Hong Kong's commercial market after the 2008 crash.

  However, in the second half of 2020, price corrections will be less serious.  houses Hong Kong's commercial property leasing and investment markets experienced the sharpest correction in the first half of this year since the global financial crisis in 2008, according to international property consultancy JLL. However, according to JLL, the price correction in the next six months will be less serious, and there will be signs of optimism in the medium term.   In the first half of 2020, mass residential capital values are resilient, but increasing unemployment will put downward pressure on home prices by the end of the year.   Owing to the ongoing confusion surrounding COVID-19, corporations are delaying decisions on office specifications. In the first half of this year, new lettings in the overall Grade A office industry fell by 53% in terms of floor area as compared to the same time last year. The total Grade A office market saw a negative take-up of 1.42 ...

In 2015, foreign buyers continued to drive the South Florida real estate market.

  In 2015, foreign buyers continued to drive the South Florida real estate market. 62 percent of international buyer sales are made in Venezuela, Brazil, Argentina, Colombia, and Canada.  apartments for sale According to the Miami Association of Realtors and the National Association of Realtors (NAR2015 )'s Profile of International Home Buyers for the Southeast Florida Market, foreign real estate buyers continue to boost the Miami and South Florida real estate market, accounting for 36 percent of total sales volume ($6.1 billion).   The annual survey ranks countries of origin and highlights main characteristics of international buyers, with data for Miami-Dade, Broward, and this year's addition of Palm Beach and Martin counties.   According to NAR's 2015 Profile of Home Buying Activity of International Clients, Florida remains the top state for international buyers, accounting for 21% of all foreign transactions in the United States. According to the 2015 P...

Homebuilders in the United States would have access to a new source of cheaper lumber from Chile.

  According to the National Association of Home Builders, U.S. home builders just wrapped up four days of talks with Chilean government, trade, and industry officials aimed at rising softwood lumber and other wood product exports to the United States.  buy apartment qatar     "The meetings with over 100 Chilean lumber producers, trade unions, and government officials were extremely fruitful," said Jerry Howard, CEO of the National Association of Home Builders (NAHB). "We support allowing more competition in the US lumber market because we know it will help American families looking to buy homes and American builders looking for a consistent supply of reasonably priced lumber."   The discussions covered a variety of topics, including developing relations between Chilean producers and American buyers, as well as identifying and addressing any policy obstacles to increasing Chilean export volumes from current levels.   NAHB spoke with two of Chil...

Brazil was ranked as the riskiest data center startup location,

  while the United States and the United Kingdom were ranked as the safest. Despite a recent rush by Amazon Web Services and other global corporate giants to set up centers in that South American country, the study claims that Brazil is the riskiest country to create and operate a data center in among the world's most active data center markets. buy house in qatar Despite the report's dismissal of Brazil as a high-risk venue, it acknowledges that Brazil and Mexico will continue to host the majority of the world's data center growth in the near future. Here's how the study rated the countries based on only one risk factor, with one being the highest and seven being the lowest:   Brazil is ranked first. India is number two. Germany is ranked third. Iceland (No. 4) Canada is ranked number five. United Kingdom (No. 6) 7 - United States of America Datacenter Dynamics, based in New York City, released the study titled Data Center Risk Index 2012. Cushm...