26 April 2023
Singapore announces new property cooling measures, additional buyer's stamp duty doubled to 60% for foreigners
SINGAPORE: Foreigners buying any residential property in Singapore from Thursday (Apr 27) will have to pay an additional buyer’s stamp duty (ABSD) of 60 per cent after it was doubled from 30 per cent.
This was the steepest increase among the cooling measures the government announced late on Wednesday night.
Singaporeans buying their second residential property will pay an ABSD rate of 20 per cent, up from 17 per cent, while those buying their third and subsequent residential property will have to pay an increased rate of 30 per cent, up from 25 per cent.
The rate of 30 per cent also applies to permanent residents buying their second residential property. PRs buying their third and subsequent residential property will pay an ABSD of 35 per cent, up from 30 per cent.
This is the third round of cooling measures since December 2021.
The increases in ABSD are to "promote a sustainable property market and prioritise housing for owner-occupation", said the Ministry of Finance (MOF), the Ministry of National Development (MND) and the Monetary Authority of Singapore (MAS) in a joint statement on Wednesday night.
They noted that the earlier measures in December 2021 and September 2022 have had a "moderating effect". However, property prices in the first quarter of 2023 showed "renewed signs of acceleration amid resilient demand".
“Demand from locals purchasing homes for owner-occupation has been especially strong, and there has also been renewed interest from local and foreign investors in our residential property market," said the authorities.
"If left unchecked, prices could run ahead of economic fundamentals, with the risk of a sustained increase in prices relative to incomes.”
Based on 2022 data, the ABSD rate increases will affect about 10 per cent of residential property transactions.
The ABSD rates for Singapore citizens and permanent residents purchasing their first residential property - which constitutes about 90 per cent of residential property transactions based on 2022 data - will remain at 0 per cent and 5 per cent respectively.
For acquisitions made jointly by two or more parties of different profiles, MOF, MND and MAS said the highest applicable ABSD rate will apply.
Married couples with at least one Singaporean spouse, who jointly purchase a second residential property, can continue to apply for a refund of ABSD, subject to conditions.
These conditions include selling their first residential property within six months after the date of purchase of the second residential property if it is a completed property, or the issue date of the Temporary Occupation Permit (TOP) or Certificate of Statutory Completion (CSC) of the second residential property, whichever is earlier, if the second property is not completed at the time of purchase.
The ABSD currently does not affect those buying a Housing and Development Board (HDB) flat or executive condominium unit from housing developers with an upfront remission, if any of the joint acquirers or purchasers is a Singapore citizen. There will be no change to this policy.
Please keep reading on:
https://www.channelnewsasia.com/singapore/property-cooling-measures-absd-additional-buyers-stamp-duty-doubled-foreigners-increase-3446376
This was the steepest increase among the cooling measures the government announced late on Wednesday night.
Singaporeans buying their second residential property will pay an ABSD rate of 20 per cent, up from 17 per cent, while those buying their third and subsequent residential property will have to pay an increased rate of 30 per cent, up from 25 per cent.
The rate of 30 per cent also applies to permanent residents buying their second residential property. PRs buying their third and subsequent residential property will pay an ABSD of 35 per cent, up from 30 per cent.
This is the third round of cooling measures since December 2021.
The increases in ABSD are to "promote a sustainable property market and prioritise housing for owner-occupation", said the Ministry of Finance (MOF), the Ministry of National Development (MND) and the Monetary Authority of Singapore (MAS) in a joint statement on Wednesday night.
They noted that the earlier measures in December 2021 and September 2022 have had a "moderating effect". However, property prices in the first quarter of 2023 showed "renewed signs of acceleration amid resilient demand".
“Demand from locals purchasing homes for owner-occupation has been especially strong, and there has also been renewed interest from local and foreign investors in our residential property market," said the authorities.
"If left unchecked, prices could run ahead of economic fundamentals, with the risk of a sustained increase in prices relative to incomes.”
Based on 2022 data, the ABSD rate increases will affect about 10 per cent of residential property transactions.
The ABSD rates for Singapore citizens and permanent residents purchasing their first residential property - which constitutes about 90 per cent of residential property transactions based on 2022 data - will remain at 0 per cent and 5 per cent respectively.
For acquisitions made jointly by two or more parties of different profiles, MOF, MND and MAS said the highest applicable ABSD rate will apply.
Married couples with at least one Singaporean spouse, who jointly purchase a second residential property, can continue to apply for a refund of ABSD, subject to conditions.
These conditions include selling their first residential property within six months after the date of purchase of the second residential property if it is a completed property, or the issue date of the Temporary Occupation Permit (TOP) or Certificate of Statutory Completion (CSC) of the second residential property, whichever is earlier, if the second property is not completed at the time of purchase.
The ABSD currently does not affect those buying a Housing and Development Board (HDB) flat or executive condominium unit from housing developers with an upfront remission, if any of the joint acquirers or purchasers is a Singapore citizen. There will be no change to this policy.
Please keep reading on:
https://www.channelnewsasia.com/singapore/property-cooling-measures-absd-additional-buyers-stamp-duty-doubled-foreigners-increase-3446376
18 April 2023
Melbourne overtakes Sydney as Australia's biggest city
BBC News, Sydney
Melbourne has overtaken Sydney as Australia's most populous city for the first time since the 19th Century gold rush, following a boundary change.
Sydney has proudly held the title for more than 100 years.
But with populations rapidly growing on Melbourne's fringe, the city limits have been expanded to include the area of Melton.
The latest government figures, from June 2021, put Melbourne's population at 4,875,400 - 18,700 more than Sydney.
The Australian Bureau of Statistics (ABS) defines a city's "significant urban area", by including all connecting suburbs with more than 10,000 people.
"With the amalgamation of Melton into Melbourne in the latest... classification, Melbourne has more people than Sydney - and has had since 2018, " the ABS's Andrew Howe told the Sydney Morning Herald newspaper - which described the redrawn boundary as "a technicality".
Proud Sydneysiders will point to the ABS's conclusion that when looking at the greater Sydney and Melbourne regions, Sydney remained bigger in June 2021.
Greater regions of a city take into account its "functional area", the ABS says, and include populations who frequent or work within the city, but may live in small towns and rural areas surrounding it.
Census reveals how Australia is changing
However the federal government predicts Greater Melbourne will overtake Greater Sydney in 2031-32.
Melbourne's rapid growth is largely thanks to international migration, Australian National University demographer Liz Allen told the BBC.
Dr Allen noted that unlike Sydney, which has a "historical hangover" of a time when "it didn't want to be seen as anything other than white", Melbourne has a reputation for celebrating diversity.
It is also an attractive migration destination as it has employment and education opportunities comparable to Sydney, but has historically been more affordable than the harbour-side city.
It's not the first time Melbourne has held the title of Australia's biggest city.
As a result of the gold rush in the late 19th Century, which saw migrants flock to the state of the Victoria, Melbourne grew rapidly and outnumbered Sydney until 1905.
https://www.bbc.com/news/world-australia-65261720
Melbourne has overtaken Sydney as Australia's most populous city for the first time since the 19th Century gold rush, following a boundary change.
Sydney has proudly held the title for more than 100 years.
But with populations rapidly growing on Melbourne's fringe, the city limits have been expanded to include the area of Melton.
The latest government figures, from June 2021, put Melbourne's population at 4,875,400 - 18,700 more than Sydney.
The Australian Bureau of Statistics (ABS) defines a city's "significant urban area", by including all connecting suburbs with more than 10,000 people.
"With the amalgamation of Melton into Melbourne in the latest... classification, Melbourne has more people than Sydney - and has had since 2018, " the ABS's Andrew Howe told the Sydney Morning Herald newspaper - which described the redrawn boundary as "a technicality".
Proud Sydneysiders will point to the ABS's conclusion that when looking at the greater Sydney and Melbourne regions, Sydney remained bigger in June 2021.
Greater regions of a city take into account its "functional area", the ABS says, and include populations who frequent or work within the city, but may live in small towns and rural areas surrounding it.
Census reveals how Australia is changing
However the federal government predicts Greater Melbourne will overtake Greater Sydney in 2031-32.
Melbourne's rapid growth is largely thanks to international migration, Australian National University demographer Liz Allen told the BBC.
Dr Allen noted that unlike Sydney, which has a "historical hangover" of a time when "it didn't want to be seen as anything other than white", Melbourne has a reputation for celebrating diversity.
It is also an attractive migration destination as it has employment and education opportunities comparable to Sydney, but has historically been more affordable than the harbour-side city.
It's not the first time Melbourne has held the title of Australia's biggest city.
As a result of the gold rush in the late 19th Century, which saw migrants flock to the state of the Victoria, Melbourne grew rapidly and outnumbered Sydney until 1905.
https://www.bbc.com/news/world-australia-65261720
04 April 2023
Singapore’s public transport system is second best in Asia And that’s according to locals4
In a recent survey, Time Out hit the streets to ask the locals of different cities the big question, “Is it easy to get around your city by public transport?” More than 20,000 people gave their two cents, and the results – drum roll please – had Singapore ranked the second best in Asia.
We’ve come a long way since our beginnings. In 1978, the Singapore Bus Service established its first bus interchange at Jurong Road, and in 1987, the Land Transport Authority first launched the five-station segment that stretches from Toa Payoh to Yio Chu Kang.
Today, 140 stations across six Mass Rapid Transit (MRT) lines connect the island, with a daily ridership of over three million. Let’s not forget the 40 stations across the two Light Rail Transit (LRT) lines, catered to citizens who live slightly further from the main train stations, which also sees over 200,000 daily ridership. Our buses also boast a fleet of more than 3,400 buses, operating more than 220 bus services, providing convenience even when travelling to the corners of Singapore that are not as accessible by train.
Besides having a well connected system, there are other perks like the SBS Transit Mobile application that provides real time bus arrival timings. Our iconic landmarks and hottest attractions are also mostly a stone’s throw away from the local stations, making the commute around Singapore a convenient one.
You’ll be shocked to know that in this survey, Singapore ranked above Hong Kong. Tokyo, on the other hand, unsurprisingly ranks first in Asia.
https://www.timeout.com/singapore/news/singapores-public-transport-system-is-second-best-in-asia-040423
We’ve come a long way since our beginnings. In 1978, the Singapore Bus Service established its first bus interchange at Jurong Road, and in 1987, the Land Transport Authority first launched the five-station segment that stretches from Toa Payoh to Yio Chu Kang.
Today, 140 stations across six Mass Rapid Transit (MRT) lines connect the island, with a daily ridership of over three million. Let’s not forget the 40 stations across the two Light Rail Transit (LRT) lines, catered to citizens who live slightly further from the main train stations, which also sees over 200,000 daily ridership. Our buses also boast a fleet of more than 3,400 buses, operating more than 220 bus services, providing convenience even when travelling to the corners of Singapore that are not as accessible by train.
Besides having a well connected system, there are other perks like the SBS Transit Mobile application that provides real time bus arrival timings. Our iconic landmarks and hottest attractions are also mostly a stone’s throw away from the local stations, making the commute around Singapore a convenient one.
You’ll be shocked to know that in this survey, Singapore ranked above Hong Kong. Tokyo, on the other hand, unsurprisingly ranks first in Asia.
https://www.timeout.com/singapore/news/singapores-public-transport-system-is-second-best-in-asia-040423
30 March 2023
The 10 Biggest Banks in the World, 1-4 Controlled by China! Is there Indonesia?
Jakarta, CNBC Indonesia - The banking crisis that has hit the United States (US) and Europe has begun to spread and has caused great concern among market players. Even though Indonesia itself is said to have strong bank defense, it is starting to be vigilant and monitoring developments.
How could it not be, the banking crisis that occurred involved a row of large world-class banks. Call it Credit Suisse, Deutsche Bank, JPMorgan Chase and several other banks such as Silicon Valley Bank, Signature Bank and Silvergate.
It should be noted, the banking industry itself is a highly regulated business and has tight supervision, compared to other financial industries. This indicates that the global economic conditions are not doing well. Then who are the biggest banks in the world?
1. Industrial and Commercial Bank of China (ICBC) US$ 5.53 trillion
Founded in Beijing in 1984, Industrial and Commercial Bank of China (ICBC) is the world's largest bank by asset value, with more than US$ 5.53 trillion at its last accounting.
It is one of China's "Big Four" state-owned banks that dominate this list. ICBC has a global network with operations in 42 countries and territories.
ICBC claims to have more than 530 million personal banking customers and 5.7 million corporate banking customers.
2. China Construction Bank Corporation (CCBC) US$ 4.76 trillion
Headquartered in Beijing, China Construction Bank Corporation (CCBC) was founded in 1954 and is currently chaired by Wang Hongzhang.
The company has assets of US$ 4.76 trillion and is under the ownership of the Chinese government's Ministry of Finance - although for a short period of time Bank of America held a 10% stake in CCBC.
The bank, which operates in retail banking, corporate banking, investment banking, private equity and wealth management services, has more than 13,600 domestic branches, as well as a number of overseas operations including in Europe, Hong Kong to the US.
3. Agricultural Bank of China (US$ 4.57 trillion)
The Beijing-based Agricultural Bank of China was founded in 1951, after a merger between the two main banks present to help farmers, namely the Cooperation Bank and the Farmers Bank of China.
With total assets of more than US.57 trillion, the bank says it has around 320 million retail customers, 2.7 million corporate clients and 24,000 branches across mainland China. As well as branches in Hong Kong, London, Tokyo, New York, Frankfurt, Sydney, Seoul and Singapore.
4. Bank of China (US$ 4.20 trillion)
The last member of the Chinese banking gang is the Bank of China which was founded in 1912 and is the oldest bank still operating in mainland China having its headquarters in Beijing.
At its inception, the bank was officially licensed to issue banknotes throughout mainland China, but now that privilege can only be exercised in two special administrative regions, Hong Kong and Macau.
Bank of China has assets of more than US.20 trillion and is the Chinese bank with the largest global reach and operations in 51 countries and regions.
Its core business is commercial banking, including corporate banking, personal banking and financial market services.
5. JP Morgan Chase (US$ 3.74 trillion)
The largest bank in the US, JP Morgan Chase in its current iteration was founded in 2000 and is the result of several mergers and acquisitions, including Chase Manhattan Bank, JP Morgan, Bank One, Bear Stearns, and Washington Mutual.
Currently based in New York and led by CEO Jamie Dimon, the bank has over .74 trillion in assets.
The bank is engaged in a variety of financial services under several divisions, including retail banking under the Chase brand and corporate banking under the Morgan brand.
JP Morgan Chase currently employs more than 25,000 people and is present in hundreds of markets.
6. Mitsubishi UFJ Financial Group (MUFG) US$ 3.17 trillion
Headquartered in Tokyo, Mitsubishi UFJ Financial Group (MUFG) is the largest financial services company in Japan which was the result of a merger between Mitsubishi Tokyo Financial Group and UFJ Holdings in 2005. This bank is engaged in retail banking, investment management and retail management.
7. Bank of America (BofA) US$ 3.16 trillion
Bank of America is the second largest financial institution in the US. It is currently based in Charlotte, North Carolina, but was founded in San Francisco in 1904 as the Bank of Italy to serve the area's working-class citizens, especially Italian-American immigrants.
Incorporation in its current form occurred in 1998, following a US billion acquisition by NationsBank, and has a significant footprint in the wealth management and investment sector under the Merrill Lynch brand.
8. HSBC (US$ 2.95 trillion)
London-based multinational bank HSBC is Europe's largest financial institution. The company serves more than 39 million customers through four global businesses, from retail banking and wealth management to commercial banking.
HSBC operates in 66 countries and territories across Europe, Asia, the Middle East and Africa, North America and Latin America. Although now based in England, HSBC has roots in Hong Kong where it was first founded in 1866.
9. BNP Paribas (US$ 2.90 trillion)
BNP Paribas in its current form is the result of the merger of the Banque Nationale de Paris (BNP) and Paribas in 2000.
Based in Paris, BNP employs around 200,000 people in 72 countries, with two main focuses on its business - retail and corporate banking.
The bank serves nearly 32 million individual customers and 850,000 professionals, entrepreneurs, SMEs and large corporate clients through its retail banking network.
10. Crédit Agricole (US$ 2.67 trillion)
Based in Montrouge, France, Crédit Agricole is the second largest bank in the country and the third largest in Europe. Crédit Agricole is also the largest cooperative financial institution in the world.
The company was founded in 1894 as a lender to the agricultural industry, and after undergoing a number of institutional transformations, has today developed into one of the world's giant banks.
Meanwhile, there are no banks from Indonesia in the list of the world's 100 largest banks in terms of assets. However, the Southeast Asia region sent three representatives, namely the big three from Singapore. DBS is the largest (US$ 509 billion), followed by OCBC and UOB.
https://www.cnbcindonesia.com/market/20230330084133-17-425721/10-bank-terbesar-di-dunia-1-4-dikuasai-china-ada-indonesia
How could it not be, the banking crisis that occurred involved a row of large world-class banks. Call it Credit Suisse, Deutsche Bank, JPMorgan Chase and several other banks such as Silicon Valley Bank, Signature Bank and Silvergate.
It should be noted, the banking industry itself is a highly regulated business and has tight supervision, compared to other financial industries. This indicates that the global economic conditions are not doing well. Then who are the biggest banks in the world?
1. Industrial and Commercial Bank of China (ICBC) US$ 5.53 trillion
Founded in Beijing in 1984, Industrial and Commercial Bank of China (ICBC) is the world's largest bank by asset value, with more than US$ 5.53 trillion at its last accounting.
It is one of China's "Big Four" state-owned banks that dominate this list. ICBC has a global network with operations in 42 countries and territories.
ICBC claims to have more than 530 million personal banking customers and 5.7 million corporate banking customers.
2. China Construction Bank Corporation (CCBC) US$ 4.76 trillion
Headquartered in Beijing, China Construction Bank Corporation (CCBC) was founded in 1954 and is currently chaired by Wang Hongzhang.
The company has assets of US$ 4.76 trillion and is under the ownership of the Chinese government's Ministry of Finance - although for a short period of time Bank of America held a 10% stake in CCBC.
The bank, which operates in retail banking, corporate banking, investment banking, private equity and wealth management services, has more than 13,600 domestic branches, as well as a number of overseas operations including in Europe, Hong Kong to the US.
3. Agricultural Bank of China (US$ 4.57 trillion)
The Beijing-based Agricultural Bank of China was founded in 1951, after a merger between the two main banks present to help farmers, namely the Cooperation Bank and the Farmers Bank of China.
With total assets of more than US.57 trillion, the bank says it has around 320 million retail customers, 2.7 million corporate clients and 24,000 branches across mainland China. As well as branches in Hong Kong, London, Tokyo, New York, Frankfurt, Sydney, Seoul and Singapore.
4. Bank of China (US$ 4.20 trillion)
The last member of the Chinese banking gang is the Bank of China which was founded in 1912 and is the oldest bank still operating in mainland China having its headquarters in Beijing.
At its inception, the bank was officially licensed to issue banknotes throughout mainland China, but now that privilege can only be exercised in two special administrative regions, Hong Kong and Macau.
Bank of China has assets of more than US.20 trillion and is the Chinese bank with the largest global reach and operations in 51 countries and regions.
Its core business is commercial banking, including corporate banking, personal banking and financial market services.
5. JP Morgan Chase (US$ 3.74 trillion)
The largest bank in the US, JP Morgan Chase in its current iteration was founded in 2000 and is the result of several mergers and acquisitions, including Chase Manhattan Bank, JP Morgan, Bank One, Bear Stearns, and Washington Mutual.
Currently based in New York and led by CEO Jamie Dimon, the bank has over .74 trillion in assets.
The bank is engaged in a variety of financial services under several divisions, including retail banking under the Chase brand and corporate banking under the Morgan brand.
JP Morgan Chase currently employs more than 25,000 people and is present in hundreds of markets.
6. Mitsubishi UFJ Financial Group (MUFG) US$ 3.17 trillion
Headquartered in Tokyo, Mitsubishi UFJ Financial Group (MUFG) is the largest financial services company in Japan which was the result of a merger between Mitsubishi Tokyo Financial Group and UFJ Holdings in 2005. This bank is engaged in retail banking, investment management and retail management.
7. Bank of America (BofA) US$ 3.16 trillion
Bank of America is the second largest financial institution in the US. It is currently based in Charlotte, North Carolina, but was founded in San Francisco in 1904 as the Bank of Italy to serve the area's working-class citizens, especially Italian-American immigrants.
Incorporation in its current form occurred in 1998, following a US billion acquisition by NationsBank, and has a significant footprint in the wealth management and investment sector under the Merrill Lynch brand.
8. HSBC (US$ 2.95 trillion)
London-based multinational bank HSBC is Europe's largest financial institution. The company serves more than 39 million customers through four global businesses, from retail banking and wealth management to commercial banking.
HSBC operates in 66 countries and territories across Europe, Asia, the Middle East and Africa, North America and Latin America. Although now based in England, HSBC has roots in Hong Kong where it was first founded in 1866.
9. BNP Paribas (US$ 2.90 trillion)
BNP Paribas in its current form is the result of the merger of the Banque Nationale de Paris (BNP) and Paribas in 2000.
Based in Paris, BNP employs around 200,000 people in 72 countries, with two main focuses on its business - retail and corporate banking.
The bank serves nearly 32 million individual customers and 850,000 professionals, entrepreneurs, SMEs and large corporate clients through its retail banking network.
10. Crédit Agricole (US$ 2.67 trillion)
Based in Montrouge, France, Crédit Agricole is the second largest bank in the country and the third largest in Europe. Crédit Agricole is also the largest cooperative financial institution in the world.
The company was founded in 1894 as a lender to the agricultural industry, and after undergoing a number of institutional transformations, has today developed into one of the world's giant banks.
Meanwhile, there are no banks from Indonesia in the list of the world's 100 largest banks in terms of assets. However, the Southeast Asia region sent three representatives, namely the big three from Singapore. DBS is the largest (US$ 509 billion), followed by OCBC and UOB.
https://www.cnbcindonesia.com/market/20230330084133-17-425721/10-bank-terbesar-di-dunia-1-4-dikuasai-china-ada-indonesia
01 March 2023
Shophouse and Shophouse Owners Can Now Get Ownership Certificates
JAKARTA, KOMPAS.com - There is good news for shophouse (ruko) and home office (rukan) owners in Indonesia. If previously the ownership status of shophouses and shophouses was Hak Guna Bangunan (HGB), now it can be upgraded to a Certificate of Ownership (SHM). This was conveyed by the Director for Regulation and Determination of Land Rights of the Ministry of ATR/BPN, Husaini in the Socialization of Strategic Programs and Policies in the Sector of Determination of Land Rights and Registration at Grand Mercure Ancol, Jakarta, Monday (27/03/2023). According to him, this has been regulated in the derivative Government Regulation in Lieu of Law (Perpu) Number 2 concerning Job Creation in 2022, namely Ministerial Regulation Number 18 of 2021.
So the shop houses and office houses can also be given ownership rights because we have to pay attention to the community. But please also look at the functionality, if you win productively, please give them their rights," said Husaini. For your information, a shophouse is a property that has 2 or 3 floors and is usually used as a place of business. Meanwhile, a shophouse is intended for office space. Shophouses and shophouses are not only it can be used for personal purposes, but can also be rented out to other people.As quoted from the Kompas.com archive, Tuesday (28/12/2022), shop houses and shop houses are different things from vertical housing such as apartments.
These two types of properties are integrated housing and landed houses. Therefore, the status of land ownership is owned by one person. One of the characteristics of shophouses and shophouses is their location which is located on the edge of the main road and close to various public facilities. Also read: See, This is the Difference between Shophouses, Shophouses and SOHOs The use of shophouses and shophouses is more flexible when compared to apartments. The first floor of a shop or shophouse can be used as a place of business, shop or rented office space. While the next floor as residential.
https://www.kompas.com/properti/read/2023/03/01/104500521/pemilik-ruko-dan-rukan-kini-bisa-kantongi-certifikat-hak-milik
So the shop houses and office houses can also be given ownership rights because we have to pay attention to the community. But please also look at the functionality, if you win productively, please give them their rights," said Husaini. For your information, a shophouse is a property that has 2 or 3 floors and is usually used as a place of business. Meanwhile, a shophouse is intended for office space. Shophouses and shophouses are not only it can be used for personal purposes, but can also be rented out to other people.As quoted from the Kompas.com archive, Tuesday (28/12/2022), shop houses and shop houses are different things from vertical housing such as apartments.
These two types of properties are integrated housing and landed houses. Therefore, the status of land ownership is owned by one person. One of the characteristics of shophouses and shophouses is their location which is located on the edge of the main road and close to various public facilities. Also read: See, This is the Difference between Shophouses, Shophouses and SOHOs The use of shophouses and shophouses is more flexible when compared to apartments. The first floor of a shop or shophouse can be used as a place of business, shop or rented office space. While the next floor as residential.
https://www.kompas.com/properti/read/2023/03/01/104500521/pemilik-ruko-dan-rukan-kini-bisa-kantongi-certifikat-hak-milik
02 February 2023
Where Melbourne's inner-city rental market is heading in 2023
Melbourne has always been a trendy urban playground attracting professionals of all ages for work and play.
In the post-pandemic world, the inner city is roaring back to life, with rentals in significant demand.
With 2023 kicking into full gear, we take a look at the key indicators for the inner-city market and the new offerings reinventing renting.
Rental stress
With covid restrictions pushing Melburnians to the regions at record rates, the inner Melbourne’s vacancy rate increased. However, with people flooding back into the city, the vacancy rate has fallen year-on-year from 4.79% to 2.06%, according PropTrack’s latest Quarterly Rental Report.
Vacancy at these low levels have not been seen in at least the last five years, and are considered an historic low, evidenced by the extended queues seen outside open-for-inspections across inner Melbourne.
This is making renters rethink the way they rent and live, especially given the price points for some one-bedroom apartments. Renters are now reconsidering the type of dwelling, as well as the living arrangement (living with friends instead of going solo) to get more bang for their buck
To continue reading, please click link below.
12 January 2023
Crowds of Crazy Rich World Assault RI's Neighbors, What's Up?
Jakarta, CNBC Indonesia - A number of super-rich families, aka the world's crazy rich, are reportedly busy building houses and offices in Singapore. In fact, the number has increased significantly when compared to a few years ago.
Singapore currently has about 700 offices associated with super-rich families. This number is up from 400 at the end of 2020 and 100 in 2017.
These families come from not only Asia, but also Europe and America. However, demand from Asia looks particularly pronounced, given that private wealth in the region is growing faster than anywhere else in the world.
"The pandemic has prompted many wealthy families to reconsider their wealth management and succession plans to better prepare for the uncertainties ahead," Carrie Ng, Head of Family Office Advisory Bank of Singapore, told Channel News Asia, Thursday (12 /1/2023).
"In addition to Asian family offices, more and more non-Asian families are coming to Singapore to set up satellite offices to capture and support their investments in the region."
This increase was triggered by the Covid-19 pandemic. These circumstances are forcing very high-income individuals and their families to rethink how to protect and grow their wealth for future generations.
Meanwhile, regarding the election of Singapore, analysts believe that the city-state was chosen because of its strength as a world financial center and tropical weather.
Not only that, Singapore has a stable political and regulatory environment, a developed financial services sector and a skilled workforce, and a good standard of living with well-established health and education infrastructure.
"Geography is another reason, with Singapore seen as a gateway to Asia. This is attractive to those looking to get closer to their investments in the region," said private sector analyst at Deloitte, Richard Loi.
https://www.cnbcindonesia.com/news/20230112154547-4-405023/ramai-ramai-crazy-rich-dunia-serbu-tetangga-ri-ada-apa
Singapore currently has about 700 offices associated with super-rich families. This number is up from 400 at the end of 2020 and 100 in 2017.
These families come from not only Asia, but also Europe and America. However, demand from Asia looks particularly pronounced, given that private wealth in the region is growing faster than anywhere else in the world.
"The pandemic has prompted many wealthy families to reconsider their wealth management and succession plans to better prepare for the uncertainties ahead," Carrie Ng, Head of Family Office Advisory Bank of Singapore, told Channel News Asia, Thursday (12 /1/2023).
"In addition to Asian family offices, more and more non-Asian families are coming to Singapore to set up satellite offices to capture and support their investments in the region."
This increase was triggered by the Covid-19 pandemic. These circumstances are forcing very high-income individuals and their families to rethink how to protect and grow their wealth for future generations.
Meanwhile, regarding the election of Singapore, analysts believe that the city-state was chosen because of its strength as a world financial center and tropical weather.
Not only that, Singapore has a stable political and regulatory environment, a developed financial services sector and a skilled workforce, and a good standard of living with well-established health and education infrastructure.
"Geography is another reason, with Singapore seen as a gateway to Asia. This is attractive to those looking to get closer to their investments in the region," said private sector analyst at Deloitte, Richard Loi.
https://www.cnbcindonesia.com/news/20230112154547-4-405023/ramai-ramai-crazy-rich-dunia-serbu-tetangga-ri-ada-apa
09 January 2023
Australia's housing market downturn has smashed a 40-year record. Will home prices continue to fall?
Higher interest rates, household debt and the erosion of savings since the pandemic have been blamed for the steepest plunge in home values since at least 1980.
The Reserve Bank of Australia's aggressive rate-hiking cycle has triggered the housing market's biggest decline in more than four decades.
The 8.4 per cent drop between May 2022 and January 2023 is the deepest peak-to-trough fall on CoreLogic's records, which go back to 1980.
It surpasses the previous record-breaking slide between 2017 and 2019, as well as the downturn prompted by the Global Financial Crisis in 2008.
Sydney home values led this latest nosedive, falling 13 per cent from their highest point.
Brisbane prices plummeted 10 per cent while Melbourne dwelling values tanked 8.6 per cent from peak to trough.
What's driving the drop in home values?
The Reserve Bank's combined 300 basis points in interest rate increases have shrunk the amount buyers can borrow and generally cooled their confidence.
High household indebtedness may have increased the housing market's sensitivity to interest rates, CoreLogic head of research Eliza Owen said.
"Higher inflationary pressures, combined with a post-lockdown surge in spending, has also eroded household savings, which could be utilised for a home loan deposit," she added.
The market may also be enduring a "hangover" from higher sales and activity in 2021 that's left a vacuum in demand.
Will home prices continue to fall?
The market is unlikely to have bottomed out, with further cash rate increases from 3.1 per cent likely to continue driving prices lower in 2023.
Markets are pricing-in a cash rate peak of about 4 per cent, while forecasts by economists average to a more subdued 3.6 per cent.
"Ongoing increases in interest rates will further erode the borrowing capacity, and likely prolong the country's housing downturn until interest rates stabilise," Ms Owen said.
Weakening property prices and high building costs continue to weigh on new building projects, with housing approvals falling 9 per cent in November.
Building approvals, the key indicator of future activity in the construction industry, have sunk by 21.7 per cent since August.
Australian Bureau of Statistics data released on Monday mark the third consecutive month of lower council approvals.
The November decline was led by the more-volatile private attached dwelling segment, which fell 22.7 per cent. Approvals for private sector houses dipped 2.5 per cent.
Total dwelling approvals fell in NSW, Western Australia, South Australia and Queensland but lifted in Tasmania and South Australia.
The value of non-residential building approvals remained robust, however, lifting 2 per cent in November.
31 December 2022
This is the Property Developer with the Biggest Market Cap in Indonesia
JAKARTA, KOMPAS.com - 2023 is just hours away, leaving 2022 full of interesting records and at the same time giving hope that the property sector will show significant recovery. A number of developers are competing to release new projects for various target segments ranging from the luxury class to subsidies.
This is of course, for the sake of showing the public, that this sector which has a dual impact on 174 industries has regained market trust.
However, of the many developers, only five have made convincing performance. These big names continued their domination as was the record in previous years. Who are they?
Kompas.com ranks developers based on market capitalization (market cap).
Market capitalization is an indicator of stock performance related to the fundamentals of a company. One of the important considerations that investors take into account before buying a stock is the size of the market cap. According to Investopedia, market cap is the aggregate market value of a company. The market capitalization calculation is based on the total multiplied by the outstanding number of company shares traded on the stock market.
Usually, the market cap is used by investors to measure the quality of the company. For investors, market cap is a parameter that shows the size of the company. The bigger the market cap, the bigger the value for companies whose shares are traded in the public.
The following are the top five property developers based on market cap as of 30 December 2022:
1. PT Metropolitan Kentjana Tbk (MKPI)
The company recorded a market capitalization of IDR 34.85 trillion. Meanwhile, the revenue is Rp. 1.79 trillion and income is Rp. 642.25 billion.
MKPI has a property business that is supported by recurring and development for the residential and commercial categories. The property sales business includes townhouses and strata title apartments spread across Jakarta, Tangerang and Batam Island.
Its portfolio includes Pondok Indah Mall (PIM 1-3), Pondok Indah Golf Apartment (PIGA), Pondok Indah Office Tower (PIOT), Pondok Indah Office Park (PIOP) and Service Residence Pondok Indah (SRPI).
The company also has a hospitality business through its subsidiary, PT Hotel Pondok Indah, which is operated using the Intercontinental Hotel Group (IHG) network. Its subsidiaries include PT Bumi Shangril La Jaya and PT Pondok Indah Investment.
2. PT Pakuwon Jati Tbk (PWON)
Alexander Tedja gave birth to this company so he was able to score a market cap of IDR 21.77 trillion. Revenue as of 30 December 2022 reached IDR 6.42 trillion with a net income of IDR 1.85 trillion.
PWON operates in five segments namely offices, shopping centers, serviced apartments, housing and hotels. Its portfolio includes nine shopping centers spread across Jakarta, Surabaya, Yogyakarta and Solo; six offices, namely Gandaria 8 Office, Kota Kasablanka Tower A and B, and Pakuwon Tower in Jakarta, as well as Pakuwon Tower and Pakuwon Center in the Tunjungan Plaza superblock, Surabaya.
Then two serviced apartments namely Ascott Waterplace Surabaya and Somerset Berlian Jakarta. Furthermore, the hospitality segment includes Sheraton Surabaya Hotel and Towers, Four Points, Sheraton Grand Jakarta Gandaria City, The Westin Surabaya Hotel and Marriott Hotel Yogyakarta.
There are also strata apartments including two Gandaria Heights towers, four Casa Grande towers and others.
3. PT Bumi Serpong Damai Tbk (BSDE)
The company started by Muktar Widjaya recorded a market cap of IDR 19.69 trillion. Unlike MKPI, BSDE's revenue was recorded at IDR 9.36 trillion with a net income of IDR 1.34 trillion.
To note, BSDE focuses on developing new cities that include integrated residential areas, with infrastructure, environmental facilities, and parks. Among them are BSD City, Kota Wisata, Grand Wisata, Wisata Bukit Mas, Legend Wisata, Kota Deltamas, Balikpapan Baru, Grand City Balikpapan, and Nuvasa Bay.
Reporting from the Financial Times, the Company's property business segments include residential, commercial, asset management, retail and hospitality through a number of subsidiaries. For example, PT Bumi Indah Asri, PT Bumi Karawang Damai, Global Prime Capital Pte. Ltd., PT Kanaka Grahaasri, PT Kanaka Grahaasri, PT Putra Prabukarya, PT Bintaro Serpong Damai, PT Duta Dharma Sinarmas, and PT Duta Karya Propertindo. Then PT Duta Mitra Mas, PT Duta Pertiwi Tbk, PT Mustika Karya Sejati, PT Garwita Sentra Utama, PT Grahadipta Wisesa, Global Prime Capital Pte. Ltd., PT Indonesia International Expo and PT Indonesia International Graha.
4. PT Ciputra Development Tbk (CTRA)
The company, which is now controlled by the second generation, Candra Ciputra, has recorded a market capitalization of Rp. Rp. 17.54 trillion. The revenue reached IDR 10.31 trillion with a net income of IDR 2.25 trillion.
CTRA is engaged in housing as its core business in the development of integrated areas, then recreational areas, industrial areas, offices, hotels, shopping centers, apartments, golf courses, and others.
Its portfolio includes: CitraRaya Cikupa, Ciputra World 1 Jakarta, Ciputra World 2 Jakarta, Ciputra World Surabaya, CitraLand City Surabaya, CitraLand City Losari, and so on.
5. PT Summarecon Agung Tbk (SMRA)
The company started by Sutjipto Nagaria scored a market capitalization of IDR 10.07 trillion. Meanwhile revenue reached IDR 5.99 trillion and net income IDR 462.9 billion. For your information, SMRA's business includes property development, investment property, hospitality, and property management.
Until now, SMRA has developed several integrated townships, including Summarecon Kelapa Gading, Summarecon Serpong, Summarecon Bekasi, Summarecon Bandung, Summarecon Karawang, Summarecon Makassar, Summarecon Bogor, and Summarecon Crown Gading.
https://www.kompas.com/properti/read/2022/12/31/070000621/ini-dia-pengembang-properti-dengan-market-cap-terbesar-di-indonesia?page=all
This is of course, for the sake of showing the public, that this sector which has a dual impact on 174 industries has regained market trust.
However, of the many developers, only five have made convincing performance. These big names continued their domination as was the record in previous years. Who are they?
Kompas.com ranks developers based on market capitalization (market cap).
Market capitalization is an indicator of stock performance related to the fundamentals of a company. One of the important considerations that investors take into account before buying a stock is the size of the market cap. According to Investopedia, market cap is the aggregate market value of a company. The market capitalization calculation is based on the total multiplied by the outstanding number of company shares traded on the stock market.
Usually, the market cap is used by investors to measure the quality of the company. For investors, market cap is a parameter that shows the size of the company. The bigger the market cap, the bigger the value for companies whose shares are traded in the public.
The following are the top five property developers based on market cap as of 30 December 2022:
1. PT Metropolitan Kentjana Tbk (MKPI)
The company recorded a market capitalization of IDR 34.85 trillion. Meanwhile, the revenue is Rp. 1.79 trillion and income is Rp. 642.25 billion.
MKPI has a property business that is supported by recurring and development for the residential and commercial categories. The property sales business includes townhouses and strata title apartments spread across Jakarta, Tangerang and Batam Island.
Its portfolio includes Pondok Indah Mall (PIM 1-3), Pondok Indah Golf Apartment (PIGA), Pondok Indah Office Tower (PIOT), Pondok Indah Office Park (PIOP) and Service Residence Pondok Indah (SRPI).
The company also has a hospitality business through its subsidiary, PT Hotel Pondok Indah, which is operated using the Intercontinental Hotel Group (IHG) network. Its subsidiaries include PT Bumi Shangril La Jaya and PT Pondok Indah Investment.
2. PT Pakuwon Jati Tbk (PWON)
Alexander Tedja gave birth to this company so he was able to score a market cap of IDR 21.77 trillion. Revenue as of 30 December 2022 reached IDR 6.42 trillion with a net income of IDR 1.85 trillion.
PWON operates in five segments namely offices, shopping centers, serviced apartments, housing and hotels. Its portfolio includes nine shopping centers spread across Jakarta, Surabaya, Yogyakarta and Solo; six offices, namely Gandaria 8 Office, Kota Kasablanka Tower A and B, and Pakuwon Tower in Jakarta, as well as Pakuwon Tower and Pakuwon Center in the Tunjungan Plaza superblock, Surabaya.
Then two serviced apartments namely Ascott Waterplace Surabaya and Somerset Berlian Jakarta. Furthermore, the hospitality segment includes Sheraton Surabaya Hotel and Towers, Four Points, Sheraton Grand Jakarta Gandaria City, The Westin Surabaya Hotel and Marriott Hotel Yogyakarta.
There are also strata apartments including two Gandaria Heights towers, four Casa Grande towers and others.
3. PT Bumi Serpong Damai Tbk (BSDE)
The company started by Muktar Widjaya recorded a market cap of IDR 19.69 trillion. Unlike MKPI, BSDE's revenue was recorded at IDR 9.36 trillion with a net income of IDR 1.34 trillion.
To note, BSDE focuses on developing new cities that include integrated residential areas, with infrastructure, environmental facilities, and parks. Among them are BSD City, Kota Wisata, Grand Wisata, Wisata Bukit Mas, Legend Wisata, Kota Deltamas, Balikpapan Baru, Grand City Balikpapan, and Nuvasa Bay.
Reporting from the Financial Times, the Company's property business segments include residential, commercial, asset management, retail and hospitality through a number of subsidiaries. For example, PT Bumi Indah Asri, PT Bumi Karawang Damai, Global Prime Capital Pte. Ltd., PT Kanaka Grahaasri, PT Kanaka Grahaasri, PT Putra Prabukarya, PT Bintaro Serpong Damai, PT Duta Dharma Sinarmas, and PT Duta Karya Propertindo. Then PT Duta Mitra Mas, PT Duta Pertiwi Tbk, PT Mustika Karya Sejati, PT Garwita Sentra Utama, PT Grahadipta Wisesa, Global Prime Capital Pte. Ltd., PT Indonesia International Expo and PT Indonesia International Graha.
4. PT Ciputra Development Tbk (CTRA)
The company, which is now controlled by the second generation, Candra Ciputra, has recorded a market capitalization of Rp. Rp. 17.54 trillion. The revenue reached IDR 10.31 trillion with a net income of IDR 2.25 trillion.
CTRA is engaged in housing as its core business in the development of integrated areas, then recreational areas, industrial areas, offices, hotels, shopping centers, apartments, golf courses, and others.
Its portfolio includes: CitraRaya Cikupa, Ciputra World 1 Jakarta, Ciputra World 2 Jakarta, Ciputra World Surabaya, CitraLand City Surabaya, CitraLand City Losari, and so on.
5. PT Summarecon Agung Tbk (SMRA)
The company started by Sutjipto Nagaria scored a market capitalization of IDR 10.07 trillion. Meanwhile revenue reached IDR 5.99 trillion and net income IDR 462.9 billion. For your information, SMRA's business includes property development, investment property, hospitality, and property management.
Until now, SMRA has developed several integrated townships, including Summarecon Kelapa Gading, Summarecon Serpong, Summarecon Bekasi, Summarecon Bandung, Summarecon Karawang, Summarecon Makassar, Summarecon Bogor, and Summarecon Crown Gading.
https://www.kompas.com/properti/read/2022/12/31/070000621/ini-dia-pengembang-properti-dengan-market-cap-terbesar-di-indonesia?page=all