Singapore among developed office markets expected to see strongest rent growth over next five years: Colliers

Singapore and Melbourne show the strongest rent growth potential over the next five years among developed office markets, highlights Colliers International in its report on rent growth prospects in Asia Pacific.

Among emerging office markets, rent growth potential appears to be the highest in Bangalore. Boasting the highest medium-term GDP growth prospects in Asia, Colliers forecasts that the city will drive strong demand for office space from occupiers, which will translate into 3.2% average rent growth over the next five years.

In Singapore, Colliers expects city-wide rents to fall by 5.0% in 2020, but forecasts rents to pick up from 2021, driving five-year average growth of 3.3% due to limited supply.

Although Melbourne faces near- term pressure on net

Renewed activity observed across global residential markets: Savills

A sentiment survey by Savills has revealed that clients worldwide are still looking for new properties.

The results are based on a survey of 41 experts across Savills’ global residential network, held from May 27 to June 2.

According to Savills, 78% of respondents said that most or almost all of the buyers in the areas they cover are still looking for a new property. Meanwhile, the majority of vendors across over 90% of markets surveyed are still planning to sell their properties.

There is a disparity in price expectations, however. Of the respondents, 78% stated that buyers are expecting to see lower prices than before lockdown. Conversely, 78% of vendors are anticipating pricing to remain the same.

Price expectations differ based on locations. Respondents in urban markets, such as Bangkok, Sydney and Prague, reported expectations of lower pricing from both buyers and sellers. Meanwhile, resort and second-home locations, such as the Algarve and the French Riviera, reported that both buyers and vendors expect prices to remain the same.

Despite the pandemic and the prospect of a recession, 33% of the respondents reported the same number of new buyers post-lockdown compared to the same time last year.

Some markets have also begun to see more activity: 10% of respondents reported that since lockdowns were lifted, there have been more new applicants as compared to the same time last year, particularly in second-home and resort locations.

The general sentiment from respondents reveals that things are looking positive, although the market has yet to recover fully. Respondents in China, which has been out of lockdown for the longest, stated that the market took two to three months to recover. However, many survey respondents remain unsure, saying that it is too early in the recovery to make any comparisons, either because flights for international buyers are still not allowed, or because potential buyers are still waiting to view properties in person.

As activity resumes in property markets globally, chang

Amanpuri, a private island in Phuket with white sand beaches, reopened on July 1. It has 40 standalone guest pavilions, 40 multi-bedroom villas and a private beach.

According to a press release by Aman, the guest pavilions and private villas offer “a tranquil and undisturbed stay away from the hustle and bustle of everyday life”. The resort provides medical services at its Holistic Wellness Centre.

Amanpuri’s dining venues make use of locally sourced ingredients and offer international cuisines, such as Thai, Italian, Mediterranean and Japanese.

There are family-friendly activities such as cooking classes and watersports, including jet-skiing. There is also a half-pipe for skateboarding and a bouldering wall. Guests can learn about Thai culture at the Eco Discovery Centre.

The resort is managed by general manager Nicolas Ilickovic, who has over two decades of experience in the luxury hospitality industry.

Amanpuri was the first resort to be set up under the Aman brand, which has since grown to 32 hotels and resorts in 20 destinations worldwide. —