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Cultural trendsetter. Architectural darling. Shopping and dining capital. New York City is more than just a financial gateway city in the US, and the city wears many crowns on its already illustrious head.

 

New York is an urban spectacle that draws in scores of new residents. Many property investors have also attempted to grab real estate in the city for their own holiday home, or to add to their investment portfolio.

While high inventory and low average property prices have weighed down New York’s residential property market over the past few years, last quarter saw more deals closing when price expectations between buyers and sellers match up.

Buoyed by firmer macroeconomic forecasts for 2020 and traditionally strong market fundamentals supporting New York residential real estate, next year could turn into a buyers’ market for some property investors.

 

According to the 3Q2019 Corcoran Report, the latest real estate statistics for Manhattan show that completed deals fell 4% y-o-y last quarter to 3,146 closed deals.

It is the lowest 3Q performance in Manhattan since 2009. This decline resulted from a 13% drop in resale condo sales, while the average price dropped 13% to a five-year low of US$1.653 million.

However, the showing last quarter is likely an anomaly as the market rushed to close high-net worth deals before the implementation of revised state mansion and transfer tax changes in July this year, says Pamela Liebman, CEO of The Corcoran Group, which published the report.

 

Prior to the change, a supplemental tax of 1% of the purchase price of a home valued at more than US$1 million was implemented.

However the tax rate now increases incrementally, with homes valued at more than US$2 million now subject to a 1.25% tax, while properties valued at more than $25 million could be taxed as much as 3.9%.

The Corcoran Report also shows that overall inventory increased by 3% y-o-y and is the smallest percentage increase since 2017.

Meanwhile, average price per square foot fell 4% y-o-y to US$1,618 psf, as a result of fewer sales of properties worth more than US$2 million, especially in prime locations, on the back of the new tax rates.

 

However, new development sales improved 2% y-o-y to more than 383 closed deals in 3Q2019.

Sponsor closings have also increased on an annual basis for three consecutive quarters, a trend which last occurred in 2016 when the number of new development sales reached its post-recession peak.

Most new project sales occurred in the Downtown area at developments such as One Manhattan Square and Fifteen Hudson Yards.

Most of the inventory entering the New York residential market have been located in relatively more expensive submarkets, including the East Side, West Side, Downtown, and Midtown locales.

While active listings in least-expensive submarkets such as Upper Manhattan, the Financial District, and Battery Park City declined by single digits y-o-y.

 

According to Rob McRitchie, senior vice-president of development and asset strategy, JLL Capital Markets Americas, the mixture of low average psf price and high inventory presents a buying opportunity for investors.

 

“In New York City, when supply outpaces demand, developers tend to give bigger discounts to unload excess inventory. The long term value of real estate in New York City should outpace short term oversupply and should result in a favourable buying opportunity.”

 

There are also signs that property markets in some outlining neighbourhoods could experience a recovery before the Manhattan area.

This includes areas such as Brooklyn, Long Island City, and New Jersey, which tend to have less available inventory, relatively lower price points that encourage affordability, as well as lower taxes, he says, adding that within Manhattan, the Midtown and Downtown areas have also recorded a smaller slide in property values.

Looking ahead, he notes that condo units priced higher than US$2 mil are likely to attract the most developer discounts, these units are also subject to bigger property taxes that could affect their return on investment. However, areas in the upper West Side have so far seen the biggest drop in pricing, he says.

 

Find out how you could capitalise on this real estate opportunity at JLL’s upcoming US Investment Seminar. Rob McRitchie will present on several topics, including, the US economic outlook, a market summary of New York City, and selected JLL project highlights in 2020.

Date: 12th November 2019, Tueday
Time: 6pm – 9pm
Venue: JLL’s new office at Paya Lebar Quarter Tower 2, Level 10. 1 Paya Lebar Link, Singapore 408533

 

Register now: https://internationalresidential.jll.com.sg/event-calendar/12/nov/2019/us-investment-seminar

07 Nov 2019

Photo by Tomohiro Ohsumi/Getty Images)

 

These days it's not just the world's most famous capital cities looking outside their national borders for growth.

 

More cities around the world are aiming for space on a global stage long reserved for hotspots like New York, Tokyo and London, with investment and growth seen as the rewards for thinking big.

Take Osaka, Japan’s second-largest city, and often ranked among the world’s most liveable.

The city region of over 19 million people is gearing up to host the World Expo in 2025, with major developments projects underway in preparation.

“Osaka is one of Japan’s most important cities, but what we’re seeing is an effort to extend its reach internationally,” says Jeremy Kelly, head of JLL Cities Research.

“With its rapidly growing visitor economy, as well as high profile events like the G20 and Expo 2025, Osaka is currently experiencing the first cycle of globalisation by building its international reputation.

Cities like Osaka play crucial roles in their domestic economies. Now, they are looking outside their own borders, according to JLL research. Other examples include Atlanta and Buenos Aires, the data show.

There’s a major driver working in favor of up-and-coming urban areas: people, companies and investors hunting for less-expensive options that still tick the right boxes, from culture to innovation.

 

Osaka on the world stage

Stacked in its favour is the fact that Osaka is the eighth-largest metropolitan economy in the world, ahead of Paris and London.

“It’s a major city with huge influence in the Japanese economy, but arguably lacks international visibility, influence and integration into truly global networks of capital flows,” Kelly says.

There are already signs this is changing. Ahead of the 2025 Expo, a plan was recently approved to turn part of an artificial island into a commercial area, including a theme park and, contingent on obtaining a license, a casino.

 

People walk through the Shinsekai area in Osaka. (Photo by Tomohiro Ohsumi/Getty Images)

 

The city is already a tourist magnet, as Japan’s fastest-growing destination for visitors. Last year, foreign tourists to Osaka totalled 11.42 million, a record high for five years running, according to the Osaka Convention and Tourism Bureau.  

Developers are playing catch-up as hotel and restaurant construction rose six-fold during the same period. To continue attracting more travellers, Kansai Airport this year announced a US$911 million expansion to upgrade its facilities and boost capacity.

Joining the cool club

Key to success will be creating greater buzz. It could take a leaf from cities such as Melbourne and Copenhagen in that regard, Kelly says.

“Osaka needs to create a clear global brand in its second phase of globalisation, much like how Melbourne and Copenhagen are known for their lifestyle elements such as cuisine, design and well, being ‘cool’,” he says.

“Alternatively, it can go the route of Barcelona and Vancouver to build its reputation around other strengths such as environmental sustainability or smart mobility,” he says.

Relative strengths

Osaka out-performs Tokyo in terms of liveability, ranking fourth in The Economist Intelligence Unit’s Global Liveability Index this year, compared to the capital’s seventh position.

Osaka consistently fares well for liveability due to its compact size, organised urban planning and connectivity and its lower cost of living.

Its railway station density is better than Tokyo’s – it has 1.12 station every square kilometres compared to the capital’s 1.02. It also scored lower than Tokyo in terms of the Regional Difference Index of Consumer Prices, which includes rent and food.

On top of that, Osaka is pushing hard to boost its technology and start-up scene with the development of Umekita Phase 2, a key site beside Osaka Station that the government plans to attract bio-tech and pharmaceutical firms to set up shop in.

The first phase also involved the completion of shopping mall Grand Front, which is home to several innovation-centric organisations such as Osaka Innovation Hub and a prototyping lab.

A direct rail link between Umekita and Kansai Airport is another boost to the city’s efforts to position itself as a business hub.

These initiatives aside, Kelly feels Osaka can make better use of these new developments to position itself as a contrast to Tokyo.

“Osaka is already known among travellers for being a gateway to historical cities, Kyoto and Nara. There is a chance for Osaka to reinvent itself beyond that and set a new direction for itself.”

 

18 Oct 2019

Aerial view of Eden in Frankfurt, Artist Impression

 

Consumer tastes have shifted and the average person now wants more than just a home; they want a healthy and attractive living environment. In Singapore it is common to allocate a plot of land for a communal ground garden but this could be costly in terms of maintenance, watering, trimming and labor.

So, is there a better option?

 

Living walls, also known as vertical gardens, have been a feature in hotel lobbies, office foyers, and shopping centers around the world for some time.

There has been a noticeable growth in the popularity of indoor living walls as numerous housing projects around the globe now strive to have an aspect of horticulture.

But a complete high-rise residential building with a green living facade?

 

A vertical garden, green wall or moss wall are pretty much the same thing – plants that grow on a vertically suspended panel by using hydroponics.

These unique structures can either be freestanding or attached to a wall.

They’re useful as well. Exterior vertical gardens cools buildings, they take up less space than a normal garden, and they help to remove carbon dioxide while clearing the air of man-made pollution such as motor vehicles and factory fumes.

A fact well established is that of horticultural therapy - contact with nature improves the mental and physical health of individuals and communities, which should be especially soothing after a draining and demanding day.

They even extend the life of a building’s façade! These numerous advantages increase the overall value of the property.

 

The Tallest Vertical Garden in the World

A prime example of vertical gardens tying into condominium projects is Frankfurt’s EDEN. Jointly designed by Helmut Jahn from Chicago and Magnus Kaminiarz & Cie from Frankfurt, the 27-story EDEN residential tower fits in perfectly with the city’s green philosophy and the facts speak for themselves: EDEN will feature a total of 186,000 plants over an area of almost 2,000 sqm (as 20% of the façade).

 

Most of the plants will be planted on the building’s exterior facade, creating a striking and highly visible green wall that is sure to amaze passers-by and visitors to EDEN. In the lobby, a 37 sqm living wall will create the feeling of an urban jungle in the heart of the city.

 

Eden Lobby, Artist Impression

 

According to Christiaan Bakker, specialist for green exterior wall systems at Sempergreen, the 98-meter EDEN residential tower in Frankfurt will be the first 70-meter-plus building in the world with a green facade.

 

Automated and Efficient Technology

 

When it comes to looking after the plants, vertical garden experts have developed efficient solutions in recent years.

Tending to the plants’ needs is now largely handled by automatic systems: Irrigation and nutrients are supplied with the aid of small drip lines and an irrigation computer. The plants can be monitored around the clock from an off-site control center.

 

The technological sophistication of the system is certainly impressive. Christiaan Bakker explains:

“The irrigation system installed on the roof automatically supplies water and fertilizer to the plants for a few seconds at a time. At night, the system pauses because the plants rest. Sensors in the panels monitor moisture levels and allow us to check fill levels via computer.”

 

The vertical gardens even have their own frost protection system. As soon as there is a risk of frost, the system switches itself off and ensures that the water drains off before it can freeze in the pipes.

 

Balcony in EDEN, Artist Impression

 

Creating Green Urban Spaces

With such a truly innovative project as EDEN, it was important that the architects and green facade specialists worked in perfect partnership.

The considerable weight of the planting system, the complex network of water pipes and the space for drainage all needed to be expertly integrated into the building’s planning from day one.

 

In addition, the plants are chosen with the utmost care. In the case of EDEN, the plants are individually selected for the project and planted a year in advance on precision engineered panels before being attached to the building with the help of a gondola.

“Given the height of the building, the installation is of course more time-consuming than with other green facades,” explains Bakker.

 

EDEN is truly a project of superlatives. For the green facade specialists at Sempergreen, the vertical gardens are more than just a business:

“Our cities are growing and we need to make more space for greenery. Vertical gardens are an ideal, and very necessary, solution as we seek to create more green spaces!”

 

Frankfurt: metropolitan vibe in harmony with green serenity

There is hardly another city in the world so perfectly suited to the combination of vertical gardens and high-rise architecture than Frankfurt.

The metropolis on the Main River is rightly famous for its exciting skyline. Urban greenery is also deeply rooted in the city’s DNA – in the truest sense of the word.

One of Frankfurt’s preeminent garden architects, Franz Heinrich Siesmayer, created the famous Palmengarten 200 years ago. In total, he is credited with having designed and landscaped more than 300 parks.

Greenery has always played an important role in Frankfurt’s urban planning: the miles of green belt running around the city’s core and more than 40 urban parks make a valuable contribution to creating a balanced urban climate. More than 52% of the city’s urban area is green.

 

EDEN, Frankfurt. Artist Impression

 

Find out more about EDEN by clicking here.

04 Oct 2019

EcoWorld London's mixed-use development is surrounded by nature with excellent transport connections

More areas of London are opening up to investment thanks to ambitious regeneration projects.

While development activity in the British capital has traditionally concentrated on Central London and the East, now it's West London's chance to shine as developers unlock the potential of well-connected areas such as Kew in Brentford, close to the Royal Botanic Gardens and business district the Golden Mile.

The area around historic Kew Bridge is currently in the midst of a multimillion-pound regeneration to make the most of the enviable location, adding new homes, retail and dining venues along with new pedestrian infrastructure, a 17,200-capacity football and rugby stadium and a new marina at Watermans Park.

More than half these new homes are found at Verdo Kew Bridge, a mixed-use residential and commercial project by EcoWorld London.

Now in its second phase, this up-and-coming neighborhood is becoming established as a desirable address in the west of the city, right next to Kew Bridge station and the new stadium in one of the greenest parts of London.

 

 

Lifestyle destination

Verdo Kew Bridge has been designed as both a community hub and a destination to attract visitors from elsewhere in London.

Its shops, cafes and restaurants are complemented by those at the neighboring Brentford Football Club stadium, independent boutiques in nearby Chiswick and Kew Village and premium retailers in the West End and Ealing Broadway, a short Tube ride away.

The local government's Great West Corridor plan is creating more jobs and attracting more companies to Brentford.

The Golden Mile is already home to more than 200 businesses, with more at nearby Chiswick Business Park, and the area employs around 200,000 people in media, broadcasting and other industries.

Highly-rated universities and schools in the local area and accessible nature also make Kew an ideal base for families.

The development is just a minute's walk from Kew Bridge rail station and close to Gunnersbury Station, putting the sights of Central London less than 30 minutes away by Underground or Overground, with links to the new high-speed HS2 and Crossrail services. Heathrow Airport, the UK's busiest airport, is just 16 minutes' drive on the M4 motorway, with other major airports less than an hour's drive.

 

Jasmine House

The latest phase of Verdo Kew Bridge to be launched, Jasmine House is a collection of 84 studios and one, two and three-bedroom apartments in the heart of the regeneration zone.

Surrounded by private gardens, the building has been sensitively designed to blend in with the area's existing architecture and nature while appealing to today's city dwellers.

Inside, the spacious open-plan apartments feature tall windows leading to a private balcony or apartment, making the most of the views and maximizing natural daylight.

Each apartment has bespoke fitted kitchens with integrated appliances, a choice of two design schemes, monitored CCTV entry and Sky Q media connections in living areas and bedrooms.

Residents at Jasmine House also have access to exclusive amenities including a 24-hour concierge service in the lobby, a residents' lounge, gym, multimedia room and communal spaces such as private gardens, terraces and children's play areas.

 

This phase of the development is scheduled to complete by the first quarter of 2022, with prices starting from £350,000.

 

 

Jasmine House floorplan brochure

Download PDF

Jasmine House floorplan brochure

Download PDF

18 Oct 2019

Have you ever wished of having a small hideout in the Swiss Alps? Here is an opportunity.

Under Swiss Federal Law, known locally as “Lex Koller”, international buyers need to get a special permit if they want to buy a property in Switzerland.

However, Holiday Village Andermatt Reuss is an exception. In 2006, the Swiss government ruled to exempt the village from Lex Koller. So far, the exemption is only until 2030.

Nestled in the midst of abundant natural beauty, the doors to this historic village in Switzerland are thus open to the world.

People from any nationality can buy a property in Andermatt. No restrictions. No special permission. That’s not all. You’re also free to rent, transfer or sell your property, as there is no minimum holding period or any inheritance or gift tax.

If you’re already feeling drawn to the offer and trying to imagine what awaits you, here is your window to heaven on earth – Andermatt – quintessentially Switzerland.

Popular among skiers and golfers, Andermatt is set in the Mediterranean ambiance in the Canton of Uri region. Surrounded by snow-capped mountains of Gotthard glaciers, the village sits at an altitude of 1,400 metres above sea level.

The picturesque village has preserved its culture and consciously made sustainability the cornerstone for its development.

 

Biodiversity features

  • • 52 water features
  • • 44 species of butterflies
  • • 24 species of birds

 

Dull moments in Andermatt? None!

A holiday destination for leisure and sports for over 200 years, Andermatt never has a dull moment. On the contrary, there is a lot to do, especially if you’re a nature lover or have a passion for outdoor activities.

During winters, there are options of snowboarding, sledging, tobogganing, ice-skating, ice hockey, biathlon and many such sports. The Ski Arena Andermatt–Sedrun with its 120 kilometres of long and varied pistes, deep descents and cross-country trails is the largest and most modern in Central Switzerland.

 

 

In the less snowy months, you can walk or hike in the region or cycle on narrow cobbled lanes or go fishing in the lake, or simply have a leisurely ride on a historic horse carriage. The village also boasts of having a lush 6,340-metre-long 18-hole Swiss Alps Golf Course.

Looking for adventure? You can go mountain biking through rugged trails or rock climbing.

The village doesn’t disappoint anyone.

The inquisitive minds will fall in love with Andermatt instantly.

At the Ursern Valley Museum, you can spend hours turning the pages of history discovering some interesting facts about the region. How the Schollenen Gorge and Gotthard pass became a gateway for people, business, and the war in 1799. How the Gotthard railroad tunnel opened in the 19th century. How Hollywood spotted it as a location for their 1964 James Bond movie Goldfinger, and slowly Andermatt transformed into a commercial and holiday destination.

Ever since then, the village had been on the international tourism map. 

Every year, it draws hundreds of music lovers to the Lucerne Festival – one of the most famous international festivals for classical music, held at the Andermatt Concert Hall. There are round the year open-air theatre performances, art shows, and many other cultural activities that attract the literary world to the village.

Food is an essential part of any culture. Andermatt too is known for its dining culture – local specialties as well as international cuisine.

 

Quality of life

In fact, Andermatt is all about an enviable lifestyle – culturally rich, healthy due to zero pollution and carefree because of guaranteed safety. The crime rate is considerably low in the region.

Motorised vehicles aren’t allowed on the inner roads. But as everything is within walking distance, the air pure and the roads safe, you won’t mind stretching your legs. Cars remain parked in the underground car parking with direct access to apartments, hotels, resorts, and chalets.

The village has preserved its heritage even in its construction activities. And it reflects in its architecture that integrates modern designs with the traditional alpine style. Only locally available wood and stones are used in the construction.

As Swiss standards for sustainability are strict, all developers follow that ensuring reduced energy requirements and use only renewable sources for electricity and heat generation. The developers even rejuvenated the River Reuss during construction activities.

 

Your connection with the world

Considering the quality of life, Andermatt is your natural paradise. But you’ll never miss the glamour of the city life with pulsating Milan just two-hour drive away. The village is well connected with the rest of Europe. The nearest airport is Zurich only 90 minutes away by car. You can take a regular train or the Glacier Express through the gorgeous Swiss Alps, or drive through breathtakingly beautiful alpine passes on the way to your destination.

  • • Zurich – 1.5 hours
  • • Milan – 2 hours
  • • Stuttgart and Munich – 4 hours

 

 

Tourism as a driver of growth

Andermatt is growing increasingly popular as a holiday destination. Accordingly, the demand for holiday rentals is also increasing.

According to Andermatt Swiss Alps AG data, the number of Swiss tourists has increased over the years.

  • • 2015 – 55,000 domestic tourists
  • • 2016 – 62,000 domestic tourists
  • • 2017 – 70,000 domestic tourists
  • • 2018 – 73,000 domestic tourists

 

The stability of Switzerland’s currency is another attraction drawing people to invest in real estate in this region. Swiss Franc remains in global demand and provides security for capital invested.

Besides, the country has attractive tax policies and is known for high legal security and political stability. According to a KPMG report, the Canton of Uri offers lower corporation tax rates of 14.92% and offers the choice of lump-sum taxation for non-Swiss nationals.

 

Benefits galore

Normally, the safety of the property and its upkeep remain major concerns of any foreign buyer. But this is not the case, especially if you are buying from the developer Andermatt Swiss Alps AG. They’ll help and guide you in every step of the process or may go the extra mile.

You would be surprised when they encourage you to generate income through the property if you don’t live there. They offer financial incentives as well as a rental program to rent out the vacant apartment.

Also, if you neither want to stay there nor want to rent out your house, yet wonder who would look after it in your absence, you need not worry. The developer has tailor-made services to offer.

While staying there, you can enjoy the comforts of your home but the luxuries of a hotel.

  • • Concierge – they will arrange ski instructors, golf lessons or even take care of restaurant reservations
  • • Housekeeping including laundry service – you don’t need to waste time doing mundane chores
  • • Shopping assistance – in case you’re busy in outdoor activities, they will organise your basic needs

 

If you decide to lock your house and head back home, the developer will look after your property.

  • • Apartment maintenance – they ensure regular cleaning of your apartment in your absence

 

There is more:

  • • 20% discount on a full-day pass to SkiArena
  • • 20% discount on the green fee for the golf course
  • • 10% discount on spa treatments in the Chedi Andermatt

 

As a privileged resident, you also get a Guest Card from Andermatt Tourism Region that allows you to avail a variety of tourist offerings at special terms and rates.

If you’re interested to get a slice of the very limited Swiss property pie, come down to our Wine & Cheese event on the 21st of August to learn more about Andermatt Swiss Alps, including a private presentation by the developer. Click HERE for the event page to register your interest.

For further information contact JLL International Residential directly at +65 6220 3888 or internationalresi@ap.jll.com.

 

13 Aug 2019

You might say that Singaporeans have a love affair with London.

Almost all of us are familiar with Big Ben, the London Eye, Tower Bridge, and other famous landmarks lining the River Thames.

It’s part of the reason why the UK's Land Registry reports that investors from Singapore are among the top 10 buyers in London, accounting for over 20 percent of all overseas buyers in the city.

The famed London culture, educational facilities and lifestyle benefits are part of the attraction; and it can also make great financial sense.

London represents an opportunity to invest in a high-profile, stable economy where homes are becoming more affordable and the number of people looking for rental properties is climbing.

Now there’s an opportunity to experience London’s beautiful river panoramas up close from one of the most exciting residential and investment spots in the city…

Canary Wharf: A prized location with a growing reputation…

 

Photo: view west

 

Previously known as the “docklands” area and more recently considered a financial hub of London, growing numbers of international and local residents are calling Canary Wharf “home”.

The area has been a focus of residential development activity in recent years, with 5,426 units presently under construction.

As Londoners increasingly embrace the east of the city, most analysts see Canary Wharf as a residential hotspot.

It’s within walking distance to thousands of offices and just a 15-minute journey into the City of London.

City airport is just a few kilometres to the east and, with the Crossrail network connecting Canary Wharf very soon, Heathrow will be less than half an hour away.

 

Photo: 1: Crossrail Station, Canary Wharf; 2: South Quay Foot Bridge, South Dock; 3: Docklands Light Railway, South Dock

 

With so many high-profile developments in Canary Wharf, an array of top-class restaurants, riverside bars, cafés, and nightlife have followed. There’s also a surprising amount of green space.

For Singaporean parents looking to send their children to study in the UK, the proximity of Canary Wharf to several top universities, including Imperial College, UCL, LSE and King’s College is also a welcome attraction.

The excellent transport links, riverside location, affordable prices, and rental opportunities make Canary Wharf a fascinating option for Singaporeans looking for their own piece of London.

Why invest in Canary Wharf?

Apart from the location and lifestyle factors already mentioned, Canary Wharf is a prized location for developers and investors alike.

Residential prices are expected to increase 19 percent by 2023 and the projected rental yields are 4.5 percent.

Both price and rental growth are expected to remain strong - higher than the Central London average over the next five years.

 

Source: JLL, UK Residential Research | May 2019

 

Over 100,000 people are employed at Canary Wharf, a number that is expected to double over the next decade. (source)

This provides a natural rental market for property owners, as many London-based professionals now consider renting as the norm.

Canary Wharf is one of the largest employers of bankers and financial, legal and media executives in Europe, with salaries well above London average.

This makes it an affluent area attractive to both renters and investors.

Stunning views from an established name in Canary Wharf developments

 

Photo: view across the Thames from Southwark

 

Landmark Pinnacle is an eye-catching tower of glass and stainless steel reflecting the iconic London skyline from Canary Wharf.

This new development will become one of the tallest residential buildings in the UK, rising to 239 metres and housing an amazing 75 floors.

It sits directly adjacent to the Landmark West and Landmark East buildings, which were completed in 2009 and 2010 respectively.

These buildings are the most popular for rental in Canary Wharf, with strong yields and resale performance.

This is testament to the strength of the Landmark property brand and should instil great confidence in investors.

 

 

Landmark Pinnacle was designed by world-renowned architects, Squire & Partners, responsible for iconic buildings across the UK, Europe, North America, Africa, and Asia.

With its impressive height and 360-degree views, this high-profile development was recently featured in The Telegraph article 28 incredible skyscrapers of the future.

 

 

Squire & Partners purposely designed the building to maximize natural daylight and to take advantage of the stunning views afforded by the 750 apartments at all levels of the building.

Such views are normally only achieved from an aircraft!

Landmark Pinnacle also provides a complete package of elite-level amenities and facilities, including a cinema room and an internal play garden for children. You can even work out at the highest gym in London.

 

 

Find out the details at the first Landmark Pinnacle launch in Singapore!

To find out more, join us on July 27th or 28th at the St Regis Hotel.

Whether you’re an experienced investor or you’re looking to invest overseas for the first time, we’ll walk you through what’s involved; and our property specialists can answer all your questions about this fantastic new development.

DATE: 27th & 28th of July 2019

TIME: 11am – 7pm

LOCATION: St Regis Hotel (Diplomat Room)

Register HERE and see you there!

 

Canary Wharf, UK Residential Research, May 2019

Download here

Landmark Pinnacle Brochure

Download here

24 Jul 2019

For those in the know, Portugal has been generating superb investment and lifestyle opportunities in recent years.

While investor appetite for Europe hit a seven-year low in 2019, investors are still talking about Portugal and, in particular, its capital city Lisbon.

Why?

For starters, it was recently ranked the number one city for investment and development in Europe in a Price Waterhouse Cooper report on emerging trends.

Add the attractive investment conditions (growing house prices and rental yields) and the “Golden Visa” initiative for investors looking to make Portugal home, and the city represents a very attractive package.

Let’s take a closer look at the key attractions of Lisbon for prospective investors.

 

Lisbon leading the way

Portugal’s capital city, Lisbon, is leading the way as the country’s “feel good factor” grows.

A good indicator of this is the city being named in first place on Price Waterhouse Cooper’s 2019 Emerging Trends Europe leader board.

This is a measure of the real estate markets in major European cities, according to their overall investment and development prospects.  

 

Source: PWC, Emerging Trends Europe survey 2019; Note: Respondents scored cities’ prospects on a scale of 1=very poor to 5=excellent and the scores for each city are averages; the overall rank is based on the average of the city’s investment and development score.

 

As you can see, Lisbon left other key investment hubs like Berlin, Copenhagen, Frankfurt, and Dublin in its wake.

The city wasn’t even in the top 10 in 2018. So top placement represents quite a leap in its perceived investment prospects. 

The city’s high quality of life, comparative low cost of living, solid economy and excellent transportation network have contributed to this, helping to develop its international reputation as a dynamic rising star in Europe.

It is now rapidly competing with the continent’s more established cities.

Lisbon’s new airport, due to be unveiled in 2022, is expected to serve over 50 million visitors per year and an upgrade to the metro system is under construction, adding to the sense of expectation surrounding the city.

 

 

“Golden visas” and tax benefits

Several interesting government initiatives make Lisbon doubly attractive for potential investors.

Firstly, the “golden visa” program grants visas to non-European citizens and their families, and can be obtained through investment in real estate.

To qualify for a golden visa, you need to commit to either:

• Minimum € 500,000 in the acquisition of a property

• Minimum € 350,000 in the acquisition of a property for rehabilitation

Since 2012, this visa has allowed free travel around the Schengen region and the possibility to apply for Portuguese nationality.

Another attraction for overseas investors is the potential tax benefits for non-habitual residents since 2009.

There is a low tax burden, with free remittance of funds, no inheritance or gift tax and no wealth tax in Portugal.

For citizens who decide to establish their tax residency in Portugal and who have not earned income there in the last five years, the benefits vary between complete tax exemption (for pension income, rental income and capital gains) and a flat 20 percent rate on other income earned inside the country.

 

 

A strengthening real estate market in Lisbon and beyond

Encouraging economic data and the increasing stability of Portugal have produced favourable knock-on effects for the real estate market in Lisbon.

The inherent volatility of capital markets and low interest rates, in particular, have spurred the sector.

JP Morgan observe that real estate is generating better long-term returns compared to other asset classes (bonds and equity):

 

 

Another excellent sign for the real estate market is that home values are increasing.

 

 

Between 2017 and 2018, houses prices in Portugal increased by 8 percent, according to the National Statistical Institute of Portugal.

Much of the development of new homes in recent years has focused on the higher end of the market and short-term rentals in Lisbon.

At the same time, affordability compared to the rest of Europe is helping Lisbon stand out for property investors.  Prices there are significantly lower than in other European capitals.

 

 

According to the 2018 RICS survey, residential prices are expected to continue to grow in the next five years by around 5.5 percent per year on average.

 

Growing rental yields

The good news for property investors in Lisbon continues when we look at rental yields.

Yields are increasing across all the main markets as demand outstrips supply in office, retail, and residential:

 

 

In 2018, for instance, gross residential rental yields in Lisbon grew by 6-8 percent, depending on location (outskirts or city centre).

These increases have been fuelled by increasing demand, particularly in short-term-rentals as tourist numbers rise; and in long-term rentals as international companies are increasingly attracted to what Lisbon has to offer.

 

A resurgent Portuguese economy

Some Singaporean investors might be thinking “wasn’t Portugal struggling just a few years back?”

Around a decade ago, after the Global Financial Crisis, Portugal was classed alongside Ireland, Italy, and Spain as a struggling economy. For five years the country went through a period of readjustment.

That all changed in 2016-17. Since then, there has been a dramatic recovery.

Increased international exposure, new foreign investment projects creating thousands of jobs, and the implementation of expansionary policies to increase liquidity in the financial markets have propelled Portugal into the consciousness of investors everywhere.

According to Ernst & Young:

“Business leaders’ assessment of Portugal’s attractiveness is changing, with clear signs of stabilization. But while the unusual optimism of the last two years is readjusting, Portugal’s attractiveness remains strong and short-term investment plans in the country are among the highest in Europe.”

Interest rates are low (1.44 percent in 2018 compared with 5 percent in 2008); Gross Domestic Product (GDP) grew by over 2.1 percent in 2018; and Portugal has exceeded the Eurozone’s average GDP for the last four years.

The Bank of Portugal expects the economy to continue expanding at a steady pace in 2019.

Two of the three big rating agencies, Fitch and Standard & Poor’s, now place Portugal in the quality investment level.

 

Increasing stability and competitiveness

Stability now reigns in the Portuguese economy. This combines with the political and social stability that the country has enjoyed for centuries, increasing its attractiveness to investors.

Before the Global Financial Crisis, large investments were made in the country’s infrastructure, including the refurbishment and modernization of schools, hospitals and motorways.

This has all helped to make Portugal an increasingly competitive country on the international scene.

The World Economic Forum recently placed Portugal as the 34th most competitive country in the world, up four places from last year.

Leading the way in industry is the technology sector. Portugal has become a top destination for research and development and tech companies. Tourism also plays a key role…

 

Tourism on the up

Tourism is an important part of the Portuguese economy, contributing 12.2 percent of GDP in 2016.

It’s a key job creator that the government looks set to continue promoting. Last year alone, tourism was responsible for creating over 50,000 jobs.

As most other economic indicators have improved over the past five years, so have tourist numbers.

Between 2013 and 2017, numbers increased by 44 percent. During the same period, revenue increased by 64 percent.

Portugal was also ranked number one in the Travel BI World Travel Awards & European Best Destinations, Country & Cities rankings ICCA 2017.

 

 

Secure and peaceful with a high quality of life

Expat Insider 2018 (Internations) recently ranked Portugal as the sixth best country in the world for expats to live in - and number one in Europe.

Part of the reasoning for this is its security and high quality of life.

Along with the excellent infrastructure already mentioned, it ranks well for access to public health services and high-quality educational facilities, including high-performing universities.

The country is also ranked as the fourth most peaceful country in the world by the Global Peace Index 2018.

Widya Lesta, JLL’s Director of International Residential Singapore, explains:

“High quality of life, tax benefits, property price growth, the Golden Visa programme, vibrant tourism industry - all of the above makes investing in Portugal an attractive proposition for adventurous Singaporeans look to explore new markets.”

But remember, no investment decisions should be made without thorough research and trusted professional advice.

For further information contact JLL International Residential directly at +65 6220 3888 or internationalresi@ap.jll.com

 

09 Jul 2019

Why is it worth investing in condominiums in Berlin? What characterizes the real estate market? What does the city offer in terms of culture, education and infrastructure?

In our report "Why Berlin" you will learn everything about the German capital: information about the housing market, economic conditions, important industries and everything that makes everyday life worth living. Download our report now and let Berlin inspire you - as an investment or as a new centre of life in your new condominium.

 

Download

 

 

23 May 2019

Alexanderplatz, Berlin, Germany

 

 

On every investor’s short-list of the globe’s safest harbors for capital is Germany, renowned for its steady local and national governance, strong property rights, low national debt, trading surpluses and solid economy. In prudently diversifying an investment portfolio, exposure to Germany is always a front-running option.

 

Of course, even buying German property involves some measure of risk, and challenges on the path the profitability.

Moreover, due to German capital gains taxes that expire after a 10-year hold after purchase, a long-term investment is advised.  And the “low-hanging” fruit days are over in Germany—housing prices in many German cities are up 80% from the Global Financial Crisis of 2008. Germans and the world have recognized the strengths of Teutonic property.

That said, housing has been and promises to be among the most-secure and profitable pathways to profit for offshore investors in Germany, most notably in Berlin and Frankfurt.

 

Tight Housing

 

Despite the rising prices, the housing supply in Germany remains constrained by regulations and local property rules, as is common in developed nations. 

Indeed, German Chancellor Angela Merkel, facing reelection, recently said that the nation urgently needs 1.5 million additional units, but redress is hardly certain.

Homeownership rates in Germany are below European averages, a legacy of Germany’s past, and the history of East Germany.  In general, Germans may migrate into higher homeownership rates in the years ahead, another positive for housing markets.

Berlin, the nation’s capital and largest city, is at the epicenter of the new Germany, attracting professionals, tech-businesses and start-ups, and favored by a growing population—a far different picture than one of an “aging Europe.” 

Through 2030, Berlin population is projected to grow at 3% annually, outstripping new housing supply—indeed, in the last year 50,000 people moved into Berlin, but only 9,046 housing units were built.

Wages are rising. With scant vacant housing, average apartments in Berlin sell for about S$3060 per square meter, and are rising annually.

 

 

Foreign Investors

 

For investors moving to Germany for work or to live, the German financial system is remarkable in that lenders will finance up to 100% of house or condo purchase price.

But for investors who stay offshore, lenders will finance only up 60%, thus requiring a 40% down-payment from foreigners. That results in a long-term tie-up of a substantial chunk of capital.

Also, one of the challenges in Germany is that income made from letting any German property is subject to 14% to 45% income tax. However, mortgage interest, management fees and any value depreciation are all tax-deductible.

Also, German banks are known for thoroughness in documenting income and to whom they are lending.

 

Still a Buyer’s Market?

 

Despite recent appreciation, Berlin remains one of the world’s more-affordable global business centers. The total costs of renting office and living space in Berlin posted at $31,100 per employee per year, against $111,900 in New York, $108,200 in Hong Kong and $95,900 in London, according to a recent survey by a major property-brokerage. For a multi-national corporation seeking a European regional operation headquarters, Berlin is a natural choice, and will remain so for the foreseeable future.

 

 

Frankfurt is Germany’s financial center, home to the nation’s stock and bond exchanges, and its growing financial technology, or “fintech” sector.

Some investors speculate that Frankfurt, home to the European Central Bank and such commercial bank giants as Deutsche Bank, will attract new professional migrants if London recedes as a global financial capital, due to the “Brexit, or Great Britain’s departure from the European Union.

With about 736,000 residents, Frankfurt has a housing shortage of about 50,000 units, and a very tight residential vacancy rate of 1.5%. Apartments in Frankfurt sell for about S$2,700 per square meter, and prices rise annually. Like Berlin, Frankfurt is much less expensive than most other global cities.

Berlin and Frankfurt, with relatively inexpensive housing and business rental costs, yet with First World amenities, and growing economies and populations, present peerless opportunities for security and appreciation to global investors.

 

Buying an apartment in Germany

 

1. You decide to buy a property in Berlin with a price tag of €1 million.

- You will need to pay €60,000 in real estate transfer tax and a Notary and registration fee of about €15,000.  Thereafter you can expect to pay a small amount in property tax.

- Buyers brokerage commission anywhere from 3-7%

- Legal fees of 1%

 

2. If you remain offshore from Germany, you will have to put a 40% down-payment, or in the case of the €1 million property, €400,000 down.

 

3. In general, letting fees include a one-off payment of 1.5 times a property’s monthly rent to find a tenant and a monthly management fee of around €20.

 

4. Income made from letting German property is subject to 14% to 45% income tax, but mortgage interest, management fees and any value depreciation are tax deductible.

 

5. Importantly, no capital gains tax is payable if you hold a German property for more than 10 years. Thus, buying for the long-term becomes the desirable option for German real estate—and a prudent course, as the prospects are so favorable for Berlin and Frankfurt residential properties.

 

For further information contact JLL International Residential directly at +65 6220 3888 or internationalresi@ap.jll.com 

 

 

Why Germany? The destination of choice for Singaporean investors

 

 

21 May 2019

Sitting beside the former BBC headquarters, this massive 1,465-home neighborhood features top-notch amenities, a wide network of transportation links, and a community of private renters that is increasingly growing in recent years.

 

For most property investors, White City in West London has been relatively unknown due to the bulk of London’s regeneration projects happening in the central and eastern districts.

 

Located in the middle of Notting Hill to the East and Shepherd’s Bush to the South, White City has been an “industrial wasteland” for so many years.

 

But with excellent transport links including the Central, Hammersmith and City, and Circle tube lines, it’s only a matter of time before it becomes a hotbed for housing development.

 

White City Receives A Makeover

Everything changed when the Hammersmith and Fulham Council collaborated with developers Westfield, Stanmore and Berkeley St. James, and Imperial College London to create a massive regeneration program called The White City Opportunity Area – an £8 billion project that is set to bring 6,000 new homes and 10,000 new jobs to White City by 2028.

This project will make White City a hub for employment, business, retail, and education.

 

 

The momentum came in full swing with the opening of Westfield Shopping Centre in 2008.

With over 300 retail units and over 20 million visits per year, Westfield is currently the largest indoor shopping center in Europe.

 

Another significant development in White City is the Imperial College Campus – a 23-acre research campus that consistently ranks as one of the top 10 academic institutions in the world.

 

Long-term renting can be a lucrative business in the next few years as the campus population around White City increases thanks to its proximity to excellent schools like Kings College, LSE, UCL, and Imperial College.

Additionally, White City Place, formerly known as the BBC Media Village, is being redeveloped as a business district made up of The MediaWorks, The WestWorks, and Garden House. Developers are finding ways to turn vacated and dilapidated structures into prime real estate properties to attract both business and residential tenants. 

 

Connectivity plays a significant role in creating demand in White City’s property market.

 

The Shepherd Bush Overground station already received a £3.9 million upgrade ahead of the Westfield expansion. Meanwhile, the Old Oak Common station is getting a £1.3 billion facelift.

 

And by 2026, Old Oak station will be the most technologically advanced rail network and transport hub in the U.K.

 

Another improvement that is well underway is the ongoing project on the Hammersmith & City Circle lines.

According to CBRE, the rehabilitation will provide up to 32 trains per hour plus a 33% increase in passenger capacity. CBRE says this upgrade can potentially add a 2.4% increase to house prices in White City by 2021.

 

 

White City Promises a Lucrative Investment Opportunity

 

White City offers a unique balance of affordability and growth which bode well for overseas investors.

 

For instance, the local housing market has been trending upwards in the last five years at 43% (7.5% per annum) over that period.

 

Demand for new homes is positive with 54% of residential units under construction already sold despite the average rent increasing by 14.6% over the past three years. 

 

Part of White City’s continued success in the housing market is the quality of its buyers.

 

Over the past ten years, the number of private rented sector increased by 75%.

 

Currently, there are over 25,000 private renters in the surrounding area who earn over £60,000 per annum.

Add that to the 5,000 student population in the area, and anyone should see why the demand for homes is steadily growing over time.

Experts agree that this demand will continue to grow as White City welcomes more businesses, students, and workforce to fuel its growth.

 

What’s surprising is how affordable a White City property compared to its high-end neighbors like Holland Park and Notting Hill. 

Recent data from CBRE shows that the average house price in White City is only £704,000.  

 

Meanwhile, the average sales value in Notting Hill and Holland Park is £2.3 and £2.6 million respectively.

For those who wish to take advantage of White City’s affordable, yet lucrative property market, there’s White City Living by St. James provides the best of both world.

 

 

White City’s Newest Crown Jewel

 

White City Living consists of more than 1,800 new homes including suites, apartments, penthouses, and duplexes set among eight acres of gardens, private courtyard, and water features including a new five-acre park.

 

Additionally, White City Living will provide a variety of shops, restaurants, and open spaces for events.

Not far from the project are two Zone 2 Tube stations which will bring the Capital right at your doorstep – Westfield in 2 minutes, Marble March in 10, and West End in 15.

With its extensive transport links and accessibility, White City Living could be an attractive destination for long-term renters who work in the West End and the Capital’s financial district.

 

For more details about White City Living, you may attend JLL's exhibition in Singapore.

RSVP

You may also contact JLL International Residential at +65 9671 9583 or internationalresi@ap.jll.com

 

03 May 2019