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Lombok, once an underrated destination overshadowed by its more popular neighbour, Bali, is finally coming into its own as Indonesia's Tourism Board sets its sights on turning the island into the country's next tourism hotspot. We discover Mandalika View, one of the latest additions to the island's fast growing hospitality market.
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It is an open secret that the best of Lombok is found on the south coast, on pristine beaches flanked by secluded coves and dramatic rocky headlands. It is here that Hong Kong-based real estate firm Private Sanctuary Limited has unveiled paradise on Earth with Mandalika View. The property consists of 17 luxury villas, some with views overlooking the bay of Kuta while on the other side of the hill, selected plots are facing the white sand beaches and pristine scenery of Tanjung Aan bay, which will soon see the addition of the Mandalika Resort Area and its proposed golf course.
Mandalika View provides its owners the opportunity to construct their dream villa for just under USD500,000, utilising only the highest quality materials and appliances. The extensive plot areas allow for villas ranging from two to five bedrooms to be built, and all will be designed to give access to breathtaking scenery without the loss of privacy or comfort.

This treasure in the Lesser Sunda Islands is for real estate buyers looking to experience the dual benefits of purchasing a top-notch luxury holiday home and profit returns from their lifestyle property investment.
Tobi Doeringer, who holds the creative title of Dreamweaver at Private Sanctuary Limited, gives his take on what property investors can expect from Lombok and Mandalika View.
How is Lombok an attractive option for investors and why the appeal of the Kuta area?
The Lombok Riviera (South Lombok) has one of the world's most beautiful coastlines dotted with unique bays, each one as breathtaking as the next. A short distance away is the government-backed Mandalika Resort Area with Tanjung Aan Beach as its centerpiece. The area surrounding Kuta has been the main focus of the USD300 million infrastructure investment already completed and as announced by Jokowi (Indonesia's president Joko Widodo). An additional USD170 million infrastructure investment has been planned for the coming year.

Two major hotel groups are due to break ground and a golf course development will commence in August this year. Additionally, several boutique hotel projects have recently been completed in Kuta, with more hotel projects that have been approved due to commence this year. As a prime location and the focal area of the government, Kuta is currently the only town with restaurants and shops catering specifically to tourists which naturally makes it the center of attention on the Lombok Riviera.
What's so unique about Mandalika View?
Mandalika View is really the filet of the properties Private Sanctuary is developing on Lombok, because of the ocean and sunset views it enjoys as well as its proximity to the proposed golf course development, the Kuta area, and the Mandalika Resort. It is also only a three minutes' drive from Kuta and a five minutes' drive from Tanjung Aan Beach and the famous Gerupuk Surf Bay.

In addition, Private Sanctuary offers a full turnkey solution to its clients, with a local onsite team and office in nearby Mataram (city) as well as an architectural team based in the Jakarta office. Armed with over 20 years of experience and success in the real estate and architecture industries, the founders of Private Sanctuary offer clients not only the chance to conceive their dreams, but also the confidence that their villas will be managed for a profitable return after completion.
What's the capital growth prospect for properties in Lombok? How is Mandalika View predicted to perform?
We are anticipating annual returns of approximately 15% and expect the land values to increase three to five times over a five-year period. Clients can expect to have their villas and land paid off in five years with substantial increase in property value, which, at five times of today's prices are still attractively lower than 50% of prices in comparable locations in Bali.
Mandalika View is a prime location today and will remain prime, and we will probably see the property's value increasing more than in areas that are either remote or will take another five to ten years to develop into a core destination on the Lombok Riviera.
Any interesting stories you can share on how Lombok is getting more attractive as a place for real estate investors?
When we first came to Lombok four years ago, we needed a four wheel drive to take us to Kuta and the surrounding bays. Today, you can no longer imagine how it used to be when you drive on the newly paved roads connecting the beautiful bays on the Lombok Riviera. You can arrive direct from Singapore with SilkAir at the new and renovated international airport and be in Kuta in 20 minutes. The same journey used to take two hours.
Prices have been going up continuously along the Lombok Riviera by about 25 to 30% and in prime areas, the increase is by 30 to 50%. The nicest thing is, we see this wealth from international investors and infrastructure investments trickling down to the local communities and now many are living in brick houses where there were only thatched houses just two years ago.

For more information on Mandalika View or investing in Lombok, Indonesia, email global@iproperty.com

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GEORGE TOWN, June 29 - Eastern & Oriental Bhd (E&O) has received over 3,000 registrations for the Tamarind's second tower, the first executive apartments at its flagship Seri Tanjung Pinang development.
Its marketing and sales general manager (Penang), Christina Lau, said Tower 1B, consisting of 552 units, received an overwhelming response after Tower 1A, launched in February this year, was sold out.
"The successful launch of the first tower (Tower 1A) helped to drum up the keen interest for Tower 1B and also people recognised the opportunity to own a prized property in a much-desired address in Penang," she said in a statement here.
Lau said the project's attractive pricing, starting from RM600,000, and backed by E&O's strong brand and track record were among the top reasons for The Tamarind's appeal.
The Tamarind, a 2.8-hectare freehold high-rise development with an estimated gross development value of RM900 million, features two blocks of 33 storeys comprising 1,104 units with three bedrooms and two bathrooms starting from 1,047 sq ft.
The project also marked the first time a local property developer collaborates with home furnishing specialist, IKEA, to provide full furnishings of its show unit.
-- BERNAMA

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RPI flash estimates reveal 0.4 per cent decline in HDB prices

Flash estimates of the Resale Price Index (RPI) revealed a 0.4 per cent drop in Housing Development Board (HDB) prices for the second quarter of 2015. This marks the eight straight quarter of weakening prices. Full RPI statistics for the second quarter will be disclosed on 24 July, together with more accurate public housing data.
In response to the moderating HDB resale market, Build-to-Order (BTO) flats will be tampered down to 15,000 this year while an extra of 9,000 flats will be provided under the Sale of Balance Flats (SBF) scheme. In the first half of 2015, 8,039 flats have been released under the BTO exercises and 5,387 flats under the SBF scheme. By September, 4,860 more BTO flats will be released in Bidadari and Punggol Northshore while 4,000 will be released in an on-going SBF exercise.

URA flash estimates reveals 0.9 per cent price decline from April to June

This makes it the seventh consecutive quarter of slumping private residential home prices, the longest succession of losses in 13 years. The previous time prices plummeted this long was in September 2000, which lasted eight successive quarters. Flash estimated announced by the Urban Redevelopment Authority (URA) on 1 July, showed that the outside core region (OCR) was most affected by a 1.2 per cent price decline, compared to its 1.1 per cent drop in the last quarter. The core central region (CCR) declined by 0.5 per cent, more than its 0.4 per cent drop in the last quarter and the rest of central region (RCR) fell by 0.5 per cent, which is a slight improvement from its 1.7 per cent drop in the last quarter.
Residential property curbs have been introduced in 2009 to prevent the property market fromoverheating due to low interest rates and high foreign buyer demand. Measures have included a limit on debt repayment costs, pegged at 60 per cent of an individual's income per month, and increases in stamp duties and real estate taxes.
In an interview with Today Online, Singapore-based managing director at real estate broker Chestertons, Mr Donald Han, said, "The mortgage rules have impacted volumes a lot, which have more than halved, and that's now showing in prices... We expect the same downward trend to continue for the next two quarters". Mr. Han also added that prices may drop 4 per cent to 5 per cent in 2015.
URA will update statistics in four weeks when it will issue the complete real estate statistics for 2015's second quarter, which records comprehensive data on stamp duty records and new projects take-up.
Slow property market growth due to TDSR
The Total Debt Servicing Ratio (TDSR) framework's limitation on car and home loans has been cited as being responsible for the sluggish private housing market, according to market observers who spoke with Channel NewsAsia. The TDSR, which was implemented on 29 June 2013 to curb debt payments, is said to have brought about the drop in units sold from 14,938 in 2013 to 7,316 private homes sold in 2014.
With the TDSR expected to be implemented permanently, and with the private property market appearing to moderate, market watchers have urged the government to relax policies such as the Additional Buyer's Stamp Duty (ABSD). ABSD is meant to prevent local buyers from purchasing another home and restrict foreign buyers from entering the market.
In an interview with Channel NewsAsia, Mr. Ismail Gafoor, Chief Executive of PropNext Realty, said that there is existing demand, however buyers are hesitant due to cooling measures. Because of buyers on a budget, developers have also been careful with their launches. A declining number of project sales have been observed since June 2013, from 15 (June 2013) to seven (June 2014) to three this June. PropNext Realty noted that this might pressure weaker developers to quit.
In an interview with Channel NewsAsia, Ms Chia Siew-Chuin, Research & Advisory Director at Colliers International said, "Most developers here in Singapore would have accumulated quite a bit of profits during the early years of the recent residential property boom and that has actually given them the capacity and holding power to ride out these subdued market conditions". However she also noted that those unable to endure the weak property market may eventually leave.
BTO's higher income ceiling will make little difference to property market
A majority of analysts are welcoming the move for a higher income ceiling for Build-to-Order (BTO) flats and executive condominiums (ECs), citing reasons such as a cool off in demand for new HDB flats and higher combined salaries as a result of later marriages.

"Today, the subscription rate is about 1.5 to two, which means most of the demand has been absorbed, and with this greater supply, opening up to a higher increment of the income ceiling is the right thing to do" said PropNex Realty's CEO Mr Ismail Gafoor, in a Channel NewsAsia interview. He also noted that subscription rates were four to five times three years ago.
Additionally, the raised income ceiling is unlikely to affect the property market as there are benefits to purchasing existing HDB resale flats and private property. HDB resale flats are still in demand for their shorter waiting time and location in mature estates.
However, in an interview with Channel News Asia, Colliers International's director of research and advisory, Chia Siew-Chuin, said "certain conditions must exist first to justify the raising of the income ceiling." Ms. Chia added that, as of now, the market is relatively more stable than before and prices are slowly moderating.
Plans underway to allow foreign ownership of Indonesian property

Indonesia is making plans to allow foreigners to own property, said its Finance Minister, Bambang Brodjonegoro. In an interview with OPP Today, Teten Masduki, a communications aide to Indonesian President Joko Widodo, said that If successful, alterations will be made to the current Indonesian regulation No. 41/1996 which bans foreign ownership and possession of any domestic property type. However it is likely that foreign ownership will be restricted to luxurious apartments in the major cities, tagged at IDR5billion (approximately S$376,000) and above.
Developers would also need to make provisions for national buyers as a priority. If approved, this also means more tax revenues as foreign buyers would follow existing rules which includes the luxury sales tax (PPnBM).
Singapore and Australia signs a Comprehensive Strategic Partnership

Singapore has signed its first pact with another country, having endorsed a comprehensive strategic partnership with Australia on 29 June. The partnership outlines bilateral relations for the next ten years, and is aimed at ensuring better amalgamation of both countries' financial and capital markets.
Plans are also underway to analyse Australia's Foreign Investment Review Board perimeters for Singapore investors. This would impact investments into each country. Singaporean investment in Australian property and companies is estimated to be S$60.5 billion, and is Australia's fourth highest source of foreign investment.
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KUALA LUMPUR, July 6 - OSK Holdings Bhd has obtained approval from its shareholders to acquire OSK Property Holdings Bhd and PJ Development Holdings Bhd for RM346.4 million and RM223.6 million, respectively.
Chief Executive Officer Tan Sri Ong Leong Huat said the move will see OSK Holdings emerge as a first-tier property group in Malaysia with a gross development value (GDV) of RM13.3 billion.

He said the combined landbank of the two entities is 524.88 hectares (1,297 acres) of undeveloped land in Malaysia and 2.02 hectares in Australia.

"It will help us to have stronger growth and enhance sustainability going forward," he told reporters after the company's extraordinary general meeting here Monday.

He said the financial services and property segments will be the main revenue and profit contributor for OSK Holdings, which plans to unveil between three to four property projects in Malaysia with a total GDV of over RM1 billion.

On outlook, he said the weakening ringgit will not have much impact on the property sector as prices remain stable.

-- BERNAMA
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Knight Frank: Property sales and rentals to decline 3 to 4 per cent

Knight Frank says property prices in Singapore will decline three to four per cent this year; statistics indicate a sixth consecutive month of decline in prices and rents with mid-market homes affected the most. Foreign investment declined slightly, with 27.3 per cent of purchases made by overseas buyers.
Sales appear to be picking up in the luxury residential market however, as buyers begin to return after prices declined in previous quarters by double digits. In an interview with Singapore Business Review, Maybank Kim Eng analyst Mr Derrick Heng said, "We observed an uptick in high-end sales, using core central region (CCR) sales as a proxy, in May. 69 units were sold, led by Marina One, Leedon Residence and Sophia Hills. Their decent sales indicated more-or-less intact foreign interest in Singapore's high-end market".
Barclays analyst Ms Tricia Song noted in a Singapore Business Review interview that it might be time for a review of the Additional Buyers' Stamp Duty; she said, "We expect an eventual easing of Additional Buyers Stamp Duty (ABSD) measures, in particular the 15% tax on foreign buyers, to benefit the luxury-end segment the most, especially as this segment has the fewest future supply completions. In May's developer take-up data, a small uptick was seen in the higher-end segment above S$2,000psf, as the correction in this segment has attracted buyers".

Bidadari BTO exercise postponed to September

The Bidadari Build-To-Order BTO exercise originally slated for release in August has been postponed to September. According to Channel NewsAsia, the Housing and Development Board (HDB) is delaying the BTO exercise due to considerations for an increase in income ceilings for new BTO applicants and merger of flat schemes for studio apartments and two-room flats.
The proposed revisions were announced on 23 June by National Development Minister Mr Khaw Boon Wan, who intends for changes to be applied by the next BTO exercise. September's BTO exercise will make it the third and largest in supply this year, despite a cut from 16,900 to 15,000 units. 2,150 units from the first phase of HDB flats in the Bidadari estate will be offered, including studio apartments and three to five-room units.

Big opportunities in Japan
Japan's property prices are on the increase despite its declining population and stagnant economy and wages, Deutsche Bank revealed in a June report. The country's residential price index rose 1.5 per cent in March compared to a year ago, while Tokyo rose 4.7 per cent. Tokyo's condominiums, which cost nine times annual household income rose 8.9 per cent over the same period. "There are many high-net-worth individuals who invested in expensive city center condos (particularly tower condos) as a tax-saving measure," Deutsche Bank said.
"Investment in rental apartments has been also increasing. We view this to be the result of inheritance tax countermeasures." Competition is also stiff and despite an increase in prices by 10 to 20 per cent in two years, Mr Ku Swee Yong, an international property advisor at Century 21 Singapore, thinks the market is good for foreign investment, as the rise in price come after 20 years of recession.
In an interview with CNBC, Mr Ku noted that the yen's 18 per cent decrease against the US dollar makes Japan's properties valuable for foreign investment. Also, due to Japan's low rates, rental cash flow is expected to be positive despite moderating interest rates. According to Mr Ku, most investors are coming from China, Hong Kong and Taiwan. The relaxed Taiwanese property market, a drop and in rental yields and good exchange rate have caused an influx of Taiwanese investors, while the Chinese are attracted by the weakening yen and the upcoming 2020 Tokyo Olympics.

Ringgit at 3.8, its lowest against the US dollar

The ringgit is back at its previous Asian Financial Crisis peg of 3.80 to the US dollar. According to data from Thomson Reuters, the ringgit is now 2.8189 against the Singapore dollar, the lowest in 25 years. Before a market rebound on 1 July, the Malaysian stock market saw foreign funds exiting the market at the quickest pace this year. Investor confidence has also faltered due to the growing spotlight on Prime Minister Najib Razak's alleged mismanagement of debt of 1Malaysian Development Bhd and weak exports and national revenue after commodity prices declined. With the ringgit being the worst-hit currency in Asia this year, it bodes badly for investors anticipating returns.
Back home, the cheaper ringgit is welcomed by Malaysians working in Singapore and those planning to invest or holiday in Malaysia. In an interview with Today, Malaysian Tham Yong Seng, who works in Singapore, said that he would exploit the exchange rate to remit more money home. He also added that he might consider investing in Ipoh or Penang properties now.
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iProperty.com speaks to Amy Williamson, Senior Negotiator, International Residential from Knight Frank, and Richard Jordan, Senior Vice President of Global Markets from Douglas Elliman Knight Frank (DEKF) Residential about investing into the US Market, in particular, New York and Los Angeles.
In the previous Asia Sentiment Survey Report of H1 2015, Malaysia, United Kingdom and Australia ranked as top preferred overseas property locations among Singaporean investors. United States ranked only fourth but has seen a rise in interest, driven largely by various reasons including diversification in investment portfolio, confidence in the economy, as well as future education planning for their children.
Malaysia has remained largely popular with Singaporean investors, largely due to the proximity and familiarity as relations have never seem closer, with the planned Singapore-KL high speed rail, new shuttle train between Singapore and Johor, and numerous daily flights between the two countries.
Be it as a second home, a rental investment, or for children aspiring to study in overseas, Singaporeans are looking towards Australia and United Kingdom as a sound investment for their dollars.
However, with real estate becoming a particularly enticing form of investment for global investors in search of good yield to risk ratio, United States has emerged as the new darling for many. With the overall improvement of the economy and relative transparency of monetary policies, and against the backdrop of slowing growth and oversupply in other regions, United States is seen as a glowing beacon emerging as a solid ground for overseas property investment.
We speak to Amy Williamson, Senior Negotiator, International Residential from Knight Frank, and Richard Jordan, Senior Vice President of Global Markets from Douglas Elliman Knight Frank (DEKF) Residential to find out more about investing into the US market.
Why has there been an increase in the interest in the US real estate market?
In recent times, the US market has become the safe bet for many investors, as compared to property investments in emerging regions and traditional favourites. From the global perspective, the re-emergence of the US dollar is another encouraging sign for many investors who are looking for a stable, and growing economy, with strong capital appreciation and good rental yields to park their investment in.
Compared to London, which has already seen strong buying over the recent years from Asia-based investors, the United States, and in particular, New York offers a tremendous opportunity for both starting investors looking for value and seasoned investors interested in diversifying their real estate portfolio. The rising US economy instils confidence, while the transparency in the policies and tax structure helps create a safe haven for investors to invest in the country.
What are some recent trends over in the US real estate market?
Chinese developers have been spreading their investments overseas, particularly to the west, with the United States the country of choice for China buyers, with Canada and Australia coming in at No.2 and No. 3 respectively.
Similar to the Japanese back in the 1980s, it's now China's turn to be snapping up real estate all over the globe. Though they have been buying into New York real estate for a while now, it's only recently that these companies have stepped up to head the developments.
Based in Shanghai, the Greenland Group has been involved in one of the highest profile project, which was also their first in New York City when it bought the majority stake in Brooklyn's Atlantic Yards project from Forest City Ratner for USD$200 million. Of course, last year's sale of the iconic Waldorf Astoria hotel for nearly US$2bn to Arbang Insurance Group grabbed the headlines too.
From the Chinese investor point of view, they see high quality U.S. real estate as a safe haven for their investment portfolio, having switched interest away from markets like Shanghai, Hong Kong and Singapore amid fears that prices hit the ceiling. Many Chinese buyers are also investing abroad so that they can provide a home for their children, near top colleges of their choice.
What are some considerations for those looking to invest into US real estate?
Apart from the location and the type of properties, the following financial and tax aspects should be taken into account when buying real estate in the United States.There are very few differences between a foreign and US buyer when it comes to purchasing real estate. In the US, financing is readily available for foreign buyers, with most qualified foreign buyers able to obtain financing for properties with a loan-to-value ratio of 50%.
Another important thing to note for is that foreign buyers are generally prohibited from purchasing cooperative properties as it usually requires a buyer's course of income to be from the US and assets to reside in the US (at least the bulk of the assets). Most of the time, foreign buyers would do well buying Condominiums, Condops (Coops with Condo rules), and Townhouses.
Where investors should be looking to buy?
New York remains one of the key investment city for many, while we would advise taking a look at downtown Los Angeles too.
Being one of the major "gateway" cities and a market that most already know well or may already have a presence or commercial interest in, New York remains one of the hottest property investment destination for many.
According to the report from Douglas Elliman Real Estate, there was an increase of 19% in the average sales price for real estate in New York from 2013 to 2014, with a strong combination of low inventory and high demand, with high employment growth and an increasing number of foreign buyers behind the rise.
Though, for investors searching for the next Brooklyn, Long Island City stands out as the estate to be in right now. The westernmost residential and commercial neighbourhood of Queens, it has been heralded for its rapid and ongoing residential growth in recent times. We are also seeing plenty of one and two bedroom units moved quickly off the market, and recently, the three and four bedrooms have followed suit.
What returns can investors expect?
The average price per sq ft for a Manhattan condo is currently US$1,589. The median sales price for a 1 bedroom condo in Manhattan is US$920,000 and US$1,980,000 for a 2 bedroom condo. Yields are approximately 3%.
For investors looking at a higher rental returns in the near future, Downtown Los Angeles is another fine option. Jobs are flowing back into America's second-largest city, with expected increasing home prices and sales in the near future. One would also be looking at potential annual rental returns of around 4% in this famed centre of the nation's film and television industry.

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KUALA LUMPUR, July 13 (Bernama) -- Strong interest to participate in the Bandar Malaysia project has been rceived from both local companies and global players, says CH Williams Talhar and Wong (WTW).

WTW, the transaction advisor for the Bandar Malaysia's request for proposal exercise, said today 40 parties, including some consortiums, have answered the project's call for expression of interest (EOI), which ended on July 10.

In a statement, it said among interested investors are government-linked companies (GLCs), top Malaysian developers, world-class property brands, as well as foreign state investment corporations.

"Apart from Malaysia, interested investors are also from Singapore, China, Japan, Korea and Australia," WTW said.

1MDB Real Estate Sdn Bhd, as the project's master developer, announced last month that it is seeking development partners to participate in the 196.67-hectare project in Sungai Besi, Kuala Lumpur.

Following the EOI stage, WTW will undertake the first stage of evaluation, it said.

"Shortlisted pre-qualified investors will then receive the investment memorandum that will detail Bandar Malaysia's development vision and its proposed master plan," it added.

Bandar Malaysia will be a mixed-use urban development that is expected to serve as a catalyst for the transformation of Greater Kuala Lumpur.

Strategically located within seven kilometres of Kuala Lumpur City Centre (KLCC), the development will serve as Kuala Lumpur's gateway for the high-speed rail line to Singapore and become a central transport hub in the city via Mass Rapid Transit (MRT) lines 2 and 3, KTM Komuter, Express Rail Link (ERL) and future access to major highway networks.

-- BERNAMA
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The term, "sous vide", literally translates to "under vacuum" in French. This cooking method requires sealing food in special airtight plastic bags and submerging them in a water oven. Foods cooked this way are known to lock in food juices and flavours as well as preserve their nutritional qualities. Thanks to its accurate temperature control, what you get are consistently great tasting meals! If you are a busy professional who craves home cooked meals but dreads the hassle of having to check in every now and then on your cooking, consider investing in a sous vide appliance. All you need is some time for food preparation and just leave the cooking to your capable digital assistant!
Here are some points to consider:
1) Water oven capacityFactors such as the power of the device, its size and water pump to circulate the water in the oven to ensure even heat distribution will determine the required capacity that suits your needs.A 10-litre digital water oven such as the SousVide Supreme, which takes up minimal space in the kitchen, will likely be sufficient for domestic use. Do note that you would need to cater for space between food pouches to allow the water to circulate properly. Ideally, only about half of the water oven's total capacity should be filled with food pouches.
2) Temperature stability mattersIn conventional cooking, temperatures can rise up to 200°C which means a risk of over-cooking on the outside whilst still having a raw centre. The sous vide method, on the other hand, allows precise temperatures to be maintained throughout the entire cooking process, which translates into delicious meals at all times.
3) Water oven containerCertain recipes require a long cooking time beyond 18 hours. Sous vide water ovens are perfect for such situations. Water oven containers for sous vide generally have superior insulation to save energy and a lid that minimizes water evaporation which is significant when using the machine for a long period. Other sous vide devices such as immersion circulators however are not insulated and have no lid that can accommodate the equipment in the pot.
4) Equipment SizeA typical all-in-one sous vide system tends to be bulky but there are compact versions like the 8.7L SousVide Supreme Demi, which is only slightly bigger than an average oven toaster. Depending on your kitchen countertop size, choosing a machine that takes up too much space might bring about more hindrance than convenience.
5) Key safety featuresIt is important that the food pouches are completely submerged in water during the cooking process. With long cooking durations, water evaporation can compromise the quality of your food. Do check the safety features before purchasing your new kitchen gadget. Some machines come with lids that reduce evaporation while others measure water level and trigger an alarm or shuts down automatically when the water level dips below the minimum level. Another crucial safety feature will be overheating protection and temperature control, now standard on most all-in-one systems.
The award-winning SousVide Supreme is the world's first water oven designed to make the gourmet sous vide cooking technique easy and affordable. Sous vide cooking locks in the juices and flavor and preserves the nutritional quality of the food. The result is incomparable taste and texture: steak perfectly cooked edge-to-edge, vibrant vegetables, juicy tender chicken breasts, and ribs with the meat literally falling off the bone. All at the push of a button.
For more kitchenware buying guide and tips, visit ToTT http://content.tottstore.com/buying_guides

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New private home sales plunge 42 per cent
According to data from the Urban Redevelopment Authority (URA), new private home sales plunged 42 per cent from May to June. 375 housing units were transacted last month, dropping below the 643 units in May. The number of units launched also decreased, to 219 units compared to 500 units in May. Sales of executive condominiums (ECs) fell as well, from 210 units in May to 110 units in June. Mr Ismail Gafoor, Chief Executive Officer of PropNex Realty told TODAY that the drop in sales was likely due to a lack of launches, combined with the June school holidays and ongoing property curbs.

Botanique at Bartley in Upper Paya Lebar Road fared best with 59 units sold at a median price of S$1,301 per square foot (psf). Lakeville at Jurong Lake Link and The Panorama in Ang Mo Kio trailed closely behind, with 25 units sold at each project, at a median price of S$1,320 psf and S$1,231 psf.
This brings the total units sold to 497 and 450 for Lakeville and The Panorama respectively. All three projects are in the outside central region (OCR).

REDAS: More empty private homes
A soaring number of vacant private homes looks inevitable as supply increases and tougher mortgage curbs lessen demand. At a seminar held by the Real Estate Developers' Association of Singapore (REDAS) on 14 July, REDAS' president Mr Augustine Tan noted the upcoming supply of over 89,000 private homes between 2015 and 2019. He said, "This looming supply is likely to bring home vacancy rate to a new record high, causing a further slip in home rentals and a downward spiralling of property prices". According to official figures, Singapore's private residential prices have declined in six continuous quarters and flash estimates predict another fall in the upcoming seventh quarter. Fewer units have also been put up for sale by developers, with just 7,316 units launched in 2014 compared to 14,948 units in 2013.

CIMB: Property market worse than 2008 crisis

According to CIMB, current market conditions, including property cooling measures, residential oversupply and lower development margins brought about by costly land have affected Singapore's property developers more than the Global Financial Crisis in 2008.
"After the implementation of a series of macro-prudential measures by the government, including higher transaction costs and more prudent debt servicing measures, demand for residential property has weakened. This, coupled with a slow rental market and rising incoming supply, has led to higher vacancies and deteriorating private home prices," said Analyst Ms Lock Mun Yee in a CIMB report.
"With revenue growth decelerating and the bottomline being affected by narrower margins, developers are increasingly looking to overseas markets such as Australia, the UK, China and other SEA countries. The bright spot is that developers' balance sheets are healthy with low leverage, enabling them to seek reinvestment opportunities," she noted.

Positive response for Brownstone EC
Despite the sluggish executive condominium (EC) market and predictions that upcoming launches will add to the supply glut, the newly launched Brownstone received 300 e-applications and over 2,000 visitors at the sales gallery on its opening weekend on 11 July. The luxurious 638-unit EC is situated at Canberra Drive, next to the future Canberra MRT Station on the North-South Line in Sembawang, which Mr Eugene Lim, Key Executive Officer at ERA Realty Network, the marketing agency for Brownstone, believes helps the EC stand out.

The EC includes 42 two-bedroom units, 428 three-bedroom units, 162 four-bedroom units and six five-bedroom penthouse with prices ranging from $599,000 to $680,000 for a two-room unit, and $869,000 to $990,000 for a four-room unit. According to data by the Urban Redevelopment Authority, 4,176 EC units remained vacant as of May, while in the previous year, it was 2,738 units. This means that vacancy rates increased to 15.1 per cent in the first four months of this year compared to six per cent last year.
Commenting on the positive response, director of property firm Chris International, Mr Chris Koh, said in an interview with TODAY, "Considering the number of ECs on the market, buyers are spoilt for choice, so a 50 per cent (application rate) on the development's first weekend is not bad". Government policies such as the Mortgage Servicing Ratio's cap of 30 per cent and resale levy implemented on second-time buyers have put a lid on demand.

Shoebox unit owners are defaulting on mortgages
Once a favourite for being an apparently fail-proof and wise property investment choice, shoebox units are now losing their shine, with 27 units put up in auctions in the second quarter this year. This was an increase of 28.6 per cent quarter-on-quarter (QoQ) in the number of shoebox units offered for auction. With policies curbing the property market, declining rents and rising vacancy rates, investors are failing to pay their mortgages.
In an interview with Singapore Business Review, Director & Head of Auctions at Knight Frank Singapore, Ms Sharon Lee said, "Amid the sluggish leasing market, with a high vacancy of 8.3% for non-landed residential properties island-wide, investors of small-sized units face increased difficulties in obtaining rental income to service their mortgage loans. The subsequent mortgage defaults have resulted in lenders putting up these units for auction in a bid to secure recovery of their loan portfolios".
Three out of four shoebox units put up for auction were under mortgagee sale. Ms Lee said that the increase in shoebox units put under mortgage sale signals a weakening outlook for shoebox units as a property investment choice, against a rising surplus of private homes and a slow leasing market.

Bandar Malaysia receives high investor interest
40 parties, including government-linked companies (GLCs), top Malaysian developers, world-class property brands, as well as foreign state investment corporations have responded to Bandar Malaysia's call for an expression of interest (EOI), which ended on 10 July. The project's transaction advisor, CH Williams Talhar and Wong (WTW), said in a statement that they have received interest from Malaysia, Singapore, China, Japan, Korea and Australia investors.

Bandar Malaysia, a 486-acre mixed-urban development based in Sungai Besi, is 1Malaysia Development Berhad's (1MDB) key project to the transformation of Greater Kuala Lumpur. The project's master developer, 1MDB Real Estate Sdn Bhd (1MDBRE), is currently searching for development partners. "1MDBRE is looking for development partner(s) that can contribute to the project, bringing in strong brand names, relevant expertise, strong track record and the capacity to raise necessary funding," said WTW in a statement on Monday.
The Bandar Malaysia project is located seven kilometres from Kuala Lumpur City Centre and will be key to the transformation of Kuala Lumpur's central transport hub. It will be home to the high speed rail-line to Singapore, and mass rail transit Line 2 and 3, KTM Komuter, express rail link and upcoming connections to important highway networks within the city.

Savills: Ho Chi Minh City residential market reports strong performance in Q2

According to Savills', recent policy changes on foreign ownership, competitive mortgage rates and rental yields have caused a spike in the supply and demand of residential property in Ho Chi Minh City, Vietnam. Notably, apartment and villa/townhouse sectors performed well in the second quarter of 2015.
In the second quarter, 9,700 new apartments were launched - marking a 47 per cent quarterly increase and topping the largest amount of newly launched supply in five years. There was an increase of three per cent quarter-on-quarter (QoQ) for the villa and townhouse market, with 470 units launched. With high demand for homes equipped with facilities and better infrastructure, sale transactions remained high for both markets, with apartments leading. 5,000 units were sold in the second quarter, a 17 per cent increase from the previous quarter and the highest volume since Q4 2010. Sales of villas and townhouses saw a 12 per cent quarterly increase.
With more supply to enter the market, this bodes well for foreign investors. The new laws on foreign ownership now allow international investors with valid visas and foreign businesses operating in Vietnam to own property in the country. A maximum of 30 per cent of units in an apartment building, or 250 houses per ward, can be owned by a foreigner.
59,200 new apartment units and 52,500 new dwellings are slated to be launched from H2 2015 to 2017. Apartments like the Empire City in Ho Chi Minh City's District 2 are expected to interest foreign buyers.

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• Latest proposed acquisition of a Singapore real estate brokerage will give the Group a solid base of about 800 agents
• Earlier proposed acquisition of a real estate agency sub-franchisor, development of an online property portal, and rights-cum-warrants issue will also be voted on at an EGM
• Move is in line with APSIL's ongoing efforts to diversify from its current integrated bereavement care services, which will be divested

Asia-Pacific Strategic Investments Limited ("APSIL" or the "Group"), a provider of integrated bereavement care services in Asia, is seeking shareholder approval to back its plan to move decisively into the real estate agency business.
The Group's latest proposed acquisition of a Singapore real estate brokerage for S$2.75 million is another step in a series of earlier announced moves in the same direction. These are the proposed acquisition of a real estate agency sub-franchisor and the proposed development of an online property portal.
Announced today, APSIL will be acquiring Global Alliance Property Pte. Ltd. ("GAP"), which was recently formed from the merger of two well-established local players, Global Property Strategic Alliance Pte. Ltd. ("GPSA") and MORE Property Pte. Ltd. ("MORE"), both of which have a combined base of about 800 real estate agents. GAP will be taking over, amongst other items, the agents, fixed assets and rental leases of GPSA and MORE; all liabilities and debts will be excluded. GPSA and MORE will also be transferring certain members of their staff to GAP.
Dato' Dr Choo Yeow Ming, APSIL's Chief Executive Officer, said: "This proposed acquisition will help to kick-start the new core business that we are looking to build, as we prepare to divest our current loss-making bereavement care services.
"We remain committed to revitalising APSIL and enhancing shareholder value, and bringing the Group back onto a sustained path of profitability and growth."
When approved, the consideration of S$2.75 million will be payable in two tranches. The first tranche, comprising S$1.25 million, will be paid in cash. The second tranche, worth S$1.5 million, will be paid in APSIL shares ("Consideration Shares") within two months after the completion of the acquisition of GAP. The Consideration Shares will be deposited in escrow for twelve months and eighteen months before release to GPSA and MORE respectively. These shares will have an issue price pegged at 90% of the average APSIL share price for the five-day period preceding the date on which the conditions precedent for the acquisition are fulfilled or waived.
In addition to this, APSIL made two earlier announcements that will form the cornerstone of its new real estate agency core business. The first is a proposal to acquire 100% of Century 21 Hong Kong Limited ("C21-HK"), which is the sub-franchisor that grants the world-renowned Century 21 franchise to licensed real estate brokers in Hong Kong and Macau. When completed, this acquisition will also give APSIL access to Century 21's marketing and operating systems as well as its retail networks.
The next is a cooperation agreement with China Real Estate Development Union Group Limited ("CREU") and Oei Hong Leong Foundation ("OHLF") to jointly develop an online property transaction platform for overseas Chinese investors and enterprises. CREU, a pioneer in PRC real estate development, will provide the joint venture company with access to its extensive database covering the PRC real estate industry, policies and market trends for the purpose of developing the database. This proposed internet portal will serve overseas Chinese keen to invest in residential and commercial property both in China and across the globe.
Dato' Dr Choo commented: "Together with our joint-venture partners, we believe we can quickly develop and rollout a unique and scalable online platform that will effectively service the needs of affluent Chinese property investors around the world, who are looking for a seamless way to build a diversified real estate portfolio across the globe.
"We envisage that with just a click of a button, users will be able to view property listings from the likes of GAP, franchisees of C21-HK and other real estate agencies that the Group plans to bring onboard. With another click, they can select their property of choice in the desired location. The whole process will be simple and fuss-free. We are confident that this online portal will take off quickly as it taps a ready audience."
To help fund this push back into sustainable growth, APSIL has proposed a rights-cum-warrants issue, consisting of up to 3,373,458,070 new ordinary shares with 3,373,458,070 warrants, to raise up to S$16.9 million. In addition, the Group expects to raise a further RM10.7 million (about S$3.8 million) through its proposed divestment of HMS Capital Sdn Bhd ("HMS"), which owns its bereavement care services business.
APSIL will convene an extraordinary general meeting at a later date to approve the change in its core business to a real estate agency business, the acquisition of C21-HK, and the acquisition of GAP. Shareholders' approval will also be sought for the Group to form the equally owned joint-venture company with CREU and OHLF. Shareholders' approval will also be sought for the disposal of HMS and, lastly, the rights-cum-warrants issue as well as the adjustments issue. Adjustments will be made to the number and/or exercise price of APSIL's outstanding warrants through which APSIL can issue additional warrants and shares (upon exercise of these warrants). When all these have been approved, APSIL can then channel resources into building and expanding its new real estate agency business.
Looking ahead, Dato' Dr Choo noted: "This new core business will allow APSIL to benefit from a diversified global platform, moving it away from its single-country focus on Malaysia, and enabling it to explore exciting new opportunities for growth."

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Lombok is a tropical paradise just east of Bali, but it has long been overshadowed by its more famous neighbour. Bali has always been high on the list of global property buyers, with millions of tourists descending upon the island each year to revel in its resort paradise feeling which paradoxically makes it crowded and commercialised.

In contrast, Lombok, often humbly referred to as "Unspoiled Bali" has often been overlooked by both travellers and investors and offers a pristine allure with dream beaches, enchanting waterfalls, its very own volcano and friendly islanders. Little is known about Lombok now, but this looks set to change with big name developers and the Indonesian government working hand-in-hand to bolster the tourism industry in the island. Where is Lombok?

Lombok is just 25km east of Bali and west of Sumbawa and known for its picturesque beaches and prime surf, particularly at Kuta and Banko Banko (in south Lombok). The motor-vehicle-free Gili Islands (Gili Trawangan, Gili Air and Gili Meno), off Lombok's west coast, offer more beaches, reefs for diving and snorkelling, and a sea turtle hatchery. It comprises an area of 4,725 km² and has a population of 3.167 million (2010).
Why invest in Lombok?
For investors and home buyers, Lombok represents great value. It has the natural beauty of Bali without the oversaturation of tourists and for a fraction of the price. It's also a smart choice with large infrastructural investments underway.

1. It's attracting the interest of both local and global investors.
Savvy investors have started to look past Bali as the hotspot for property investment. Developers are starting to build luxury accommodation, with some five-star resort projects open for sale in Lombok. A recent report on the "Future of Resort Residential Market in Lombok" by C9 Hotelworks suggests that Lombok could be developed into a premier leisure destination like southern Bali. Another important point is the emergence of domestic institutional investors like Indonesian Tourism Development Corporation (ITDC) into large development projects like the Mandalika project which is a 1250 ha luxury development project fronting 8km of white sand beaches. Other projects like Club Med and golf course projects demonstrate the great confidence in developers investing in Lombok.
2. It offers great value.
Land prices at South Bali have risen to illogical levels over the past few years with land prices in Seminyak, Batu Belig and Canggu reaching USD2000-2500 a square meter compared to similar land in Lombok which can be bought at USD100-250 per square meter which is more than 10 times cheaper! Is there really a justification for such a huge difference in price? Maybe the scales are about to tip for "Bali's sister island" with only 25miles separating the 2 islands.
3. It has strong support and commitment from the Indonesian government.
With the support of the central government, Lombok is being developed as Indonesia's 2nd destination for international and domestic tourism. The President of Indonesia, Susilo Bambang Yudhoyono, the Ministry of Cultural and Tourism and the regional Governor have made public statements supporting the development of Lombok as a tourism destination. This has seen infrastructure improvements to the island including road upgrades and the construction of a new Lombok International Airport on 1 October 2011. The airport is hugely important in bringing tourists from Singapore, KL, Jakarta, Perth, Hong Kong and rest of Asia with more than 300 flights arriving bringing more than 1.4 million tourists to Lombok in 2013 (Indonesia Statistics Bureau). Tourist arrivals are expected to grow to 5-8 million as the island gains popularity.
Lombok has already been forecasted by many to surpass Bali someday as Indonesia's favourite tourist destination and in fact, it was rated among the world's best destinations to visit by Lonely Planet in 2012 and voted the top 10 Asia freshest destination by Agoda.

Potential risks?
Calling Lombok paradise does not mean it is all things for all people. Investment into Lombok should not be benchmarked to Bali or other top resort destinations as it is not yet a mature tourist destination. Bali took decades of hotel and infrastructure development, service, marketing and advertising efforts to achieve the status and popularity it enjoys today. However, this is also where the value lies if you compare the risks and rewards against a more mature and expensive market like Bali or Phuket.
If we compare Lombok to similar growing resort destinations like Koh Samui or Phu Quoc in Asia, it is easier to understand why it will stand out as a resort investment destination. The reason is simple. It's the location. It is situated in Indonesia and right beside Bali. Indonesia is one of the fastest growing economies in Asia with a huge growing young population and Bali has been the favourite destination for tourists for decades. The potential of Lombok is tremendous and you can just look the prices in Bali today to understand why.
Lastly, in choosing the type of investment, it is important to understand where the demand is coming from. In Lombok, the demand in the short to medium term will be more from tourists and less from the locals for own stay. Thus, investing in hotels or service villas will be better investments unless it is bought as a holiday home.
Conclusion?
The story and future of Lombok as the next resort destination of choice is very compelling due to its location and beautiful natural landscape and a much less crowded island compared to Bali. It is easily observed that the land prices in Lombok will be pushed up mainly by tourism, both domestically and internationally. The relocation and opening of the international airport has certainly benefitted Lombok greatly in this aspect with new routes to Asia planned. There is good potential upside on the land and villa prices as more people grasp the potential of Lombok.
In short, Lombok is one of the rising stars of Asia's resort property investment destination and seems poised for its moment in the real estate spotlight. It's about time we started paying attention to it.

This article has been contributed by Nicholas Tan, CEO & Founder, Building Wealth Group

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MPs raise concerns over DBSS scheme
Mr Hri Kumar Nair, Member of Parliament (MP) for the Bishan-Toa Payoh Group Representation Constituency (GRC) has called for the Design, Build and Sell Scheme (DBSS) scheme to be "shelved permanently". His comment on Facebook last week came after other MPs voiced similar concerns over the Housing Development Board's (HDB) role in ironing out disagreements over defects in DBSS homes, and the future prospects of the scheme.

Several DBSS projects have recently been lambasted for defects, such as the sudden appearance of black spots on wooden floorings in flats at The Peak@Toa Payoh in 2013. While DBSS projects are meant to marry private and public housing, in an interview with TODAY, Mr Hri Kumar said that there seems to be some misunderstanding over HDB's responsibilities: "Because this is public housing, the expectation is that not only will HDB oversee the development, they're supposed to work with the developer to resolve all defects. And because there is such an expectation, there is also disappointment when that did not happen."
Mr Desmond Lee, Minister of State for National Development has said that market conditions may still shift and there may be reasons to bring back DBSS in some form.

MAS: Still premature to relax property cooling measures
Mr Ravi Menon, Managing Director of The Monetary Authority of Singapore (MAS) said on 21 July that it is still too early to lift property curbs, dashing hopes of a market rebound this year: "Property prices have softened somewhat, but like I said last year, in the context of the price increase that had occurred — 60 per cent over three years — the softening we have seen is really not all that much.
So, it's still premature to consider removing any of the cooling measures that are in place," Mr Menon said at the central bank's annual report media briefing on 21 July. Since the global financial crisis in 2008, housing prices started increasing in 2009 and hit their peak in the third quarter of 2013. The property market has cooled since then, but more so after MAS slapped on the Total Debt Servicing Ratio (TDSR) in June 2013 to ease buyer speculation and raise credit practices by financial institutions.

Flash estimates from Urban Redevelopment Authority (URA) in July showed that private residential properties fell for the seventh consecutive quarter since its peak in 2013. However, the total price correction was less than seven per cent from its highest in 2013, bolstering the need for further cooling measures.
While the Real Estate Developers' Association of Singapore (REDAS) has continuously urged the Government to relax property curbs as it "hurts foreign investment flows", others such as Mr Leong Wai Ho, Economist at Barclays said to TODAY that the cooling measures are fair from a policy point of view to re-engineer home affordability.

Savills: 41 investment transactions worth S$5.69 billion recorded in Q2
According to Savills' Asia Pacific Investment Quarterly, transactions rose 56.7 per cent from S$3.63 billion in the previous quarter. The Singapore private property market also recorded a quarter-on-quarter (QoQ) increase of 11.9 per cent to S$2.94 billion, which comprised 51.7 per cent of the market share. However, the quarter was stagnant in terms of transaction volumes. In the residential market, most buyers tried to wait out the cooling measures. As for the remaining 48.3 per cent of Q2's total investment value; a total of S$2.75 billion was made from the sale of three residential sites, three industrial sites and one commercial site under the government land sale (GLS) programme.
With a reduced number of sites under the Confirmed List, a high number of bids have been received from developers trying to replenish their land banks. A residential site at Dundee Road in Queenstown received highest bid of S$483.2 million, at S$871 per square feet (psf), from Hao Yuan Realty, a unit of Chinese developer Hao Yuan Investment Pte Ltd.

Analysts believe property cooling measures will come to an end
Analysts predict that the property market may be headed for a rebound as the government looks likely to relieve measures in the coming 12 months. In an interview with Singapore Business Review, Mr Andrew Chow, Analyst at United Overseas Bank Kay Hian said, "We see the potential for selective easing of property cooling measures in 1H16 as physical property prices have retreated by 6-9%.
However, we do not expect prudent measures such as total debt servicing ratio (TDSR) to be changed". Ms Cheryl Lee and Mr Louis Chua, Analysts at Union Bank of Switzerland told Singapore Business Review that aside from reduced prices, measures will be lifted as a number of sale transactions have reduced. Specifically, they anticipate a lift in stamp duties measures in H215 and that measures to moderate debt service ratios will likely be unchanged.

Indonesia revamps rules to attract foreign property investors

With the country's economic downturn causing a 13.5 per cent quarter-on-quarter dip of residential sales amid regulatory uncertainties in Q1 2015, Indonesia is taking active steps to reinvigorate its real estate market. Plans are currently underway to relax rules on foreign ownership which allow foreigners to own Indonesian homes under 'right of use' for 25 years which is extendable for an extra 20 years.
The new changes would allow the rule to become a permanent period, without needing to extend, and inheritable upon the owner's demise. However, according to Jakarta Globe, foreigners are restricted to purchasing only luxury apartments that cost above IDR5 billion (USD375,000). According to Deal Street Asia, The Central Bank of the Republic of Indonesia (BI) will also relax its lending regulations for residential property buyers to encourage sales. While previously buyers had to put a 30 per cent down payment, terms have been readjusted to 10 to 40 per cent, depending on property size.

Surge in Penang's property demand
According to Affin Hwang Capital Research, a rising population in Penang combined with persistent property demand will see public-private partnerships (PPP) helm property projects in the area. The RM27bil Penang Transport Master Plan (PTMP) is among the largest PPP projects which could be confirmed by September. Singapore's Temasek Holdings and Penang Development Corp (PDC) have put out a joint venture proposal to build a RM11.3bil business process outsourcing centre and international technology park. Penang's government has pushed the economy up the value chain by supporting a manufacturing and services sector based on knowledge and innovation.

"Property development companies such as E&O, Eco World Development Group Bhd and Ewein Bhd are embarking on new large-scale mixed development projects in the state with total gross development value (GDV) of RM60bil," added the report. Six consortiums have indicated interest to be the project delivery partner (PDP) for PTMP while discussions for PDC's joint venture are still underway. If Temasek enters the market, more Singapore companies and foreign investors are likely to be attracted to Penang.

NAB: Strong foreign residential property purchase in Australia

According to the National Australia Bank (NAB) South Wales (NSW) and Victoria (VIC) had the best improving markets, while sentiments dipped in other states, led by South Australia/ Northern Territory (SA/NT) and Western Australia (WA). The NAB's Residential Property Index is predicted to jump 35 points next year and by 42 points in two years. According to NAB chief economist Alan Oster, differences were present between states where foreigners bought more than 28 per cent of all new apartments in VIC compared to 16.5 per cent in NSW.
In existing property markets, foreign buyers represented 8.6 per cent of demand, with foreigners accounting for one-tenth of home sales in VIC and NSW. Of the total established apartment sales and home sales in Q1, foreign buyers accounted for 11.4 per cent and 9.4 per cent respectively. Mr Oster also notes that first time home buyers were more widespread in new property sectors in the June quarter, although he attributes this increase to first time home buyer investors.
"Owner occupiers or up-graders were also more active in both new and established markets, while resident investors (net of FHBs) accounted for just over 1 in 5 sales in both new and established markets," he said in an interview with Business Insider.
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The largest single real estate project invested in Malaysia by a Chinese enterprise, the Greenland Tebrau project represents the "Green World" dream. At the forefront of Greenland Group's ambitious strategy for the Asia-Pacific region in building will be the 128-acre Greenland Tebrau project, the exemplary integrated habitat model of a big city. The much anticipated Groundbreaking Ceremony of Greenland Tebrau & Greenland Danga Bay (Jade Palace) development was held amidst much fanfare and celebration yesterday with the attendance of YAB Datuk Seri Hj. Mohamed Khaled Nordin, Chief Minister of The State of Johor, Mr. Xu Jing (Executive Vice President of Greenland Group), Mr Wu Shao Hua (General Manager of Greenland Malaysia), Tan Sri Lim Kang Hoo (Executive Vice-chairman of IWH) and Mr.Wu Zheng Ping (Economic and Commercial Counselor), State Assemblymen, Management Staff of Iskandar Waterfront Holdings, and Heads of Chamber of Commerce. Also at the event, YAB Datuk Seri Hj. Mohamed Khaled Nordin, Chief Minister of The State of Johor earmarked Tebrau Bay as an "international zone" for foreigners to purchase property in Johor. "Iskandar Malaysia is a manifestation of the plan to develop a dynamic and world-class metropolis in southern Johor. This is a major growth corridor development in the country by virtue of its strategic locations in the region armed with a competitive and robust logistics infrastructure. With an overall cumulative committed investment record of RM172.51 billion as of June, it clearly shows an increase in investor confidence in Iskandar Malaysia . Of the total, 50 per cent or approximately RM87.80 billion investment has been realized." shared YAB Datuk Seri Hj. Mohamed Khaled Nordin, Chief Minister of The State of Johor. Headquartered in China, Greenland Malaysia ("Greenland") is one of Iskandar Malaysia's largest developers of real estate, specializing in luxury property. As a Fortune Global 500 entity, Greenland's key projects in Malaysia include the Greenland Jade Palace Waterfront Residences and Tebrau Waterfront Residences in Iskandar Malaysia. With an estimated gross development value of RM30 billion over the next ten years across the five phases, the high-end mixed development project - Greenland Tebrau will provide the ultimate standard of coastal living lifestyle offering an excellent investment opportunity for investors. "To date, Greenland has injected US$ 3.2 billion in Johor covering the inner circle of Iskandar Special Economic Zones, aspiring to build a world-class No. 1 Bay Area cover art - Greenland Danga Bay project. We also aspire to lead Greenland Group ambitious strategy for the Asia- Pacific region in building an exemplary integrated habitat model of a big city - Greenland Tebrau project," Mr. Xu Jing，Vice Chairman, Greenland Group. To keep up with the trend of economic globalization, since 2013, Greenland Group has been implementing global development and steadily expanding their presence overseas. Just within two years, Greenland has entered United States, Australia, Britain, South Korea, etc. Spreading over 9 countries within 13 cities outside of China, they have invested in 15 overseas development projects, with its total development area of 5.76 million square meters amounting to a total investment of more than US$ 20 billion.

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Primely located 5 minutes to the Singapore Immigration checkpoint and 5-8 mins driving distance to Johor Bahru city centre, Ramada Suites at The Straits is set to up the rental game for buyers considering to invest in serviced apartments by offering spacious dual-key units with luxurious furnishing and efficiently structured layouts.
Ramada Suites at The Straits is a low density serviced apartment with 128 units in a 25-storey single tower building. Developed by Sonata Resources Sdn Bhd (South East Asia Landmark), the freehold property will be managed and operated by Ramada Group which is owned by the largest hotel company in the world - Wyndham Group with a guaranteed rental yield of 6% for the first 5 years.
With an excellent location and top-notch management by Ramada, this low density residential enclave is set to be a competitive force in the Johor Bahru rental market. Apart from the ease of access to both the Nusajaya and JB City Centre, the superior quality furnishings and well-managed facilities all contrive to distinguish the Ramada Suites from the others. In addition, the competitive pricing of the units and expected rental revenue look to be the other key factors when buyers are looking for investments with potential capital appreciation and rental income.
While there are no shortage of developments with great investment potential over in Johor Bahru, Ramada Suites at The Straits stands out to investors who are specifically looking for properties with a stable rental income to add to their property portfolio. By offering a well-packaged product to tap into the hospitality accommodation market that is currently gaining stream in Johor, the serviced executive suites component is well poised to offer the full benefits of a well-managed property to both buyers, and the long-term or short-term tenants.
Ramada, part of the global hospitality chain under the Wyndham Group is synonymous with excellent property management expertise with a proven track record of being a consistent, well-performing brand in the hospitality sector. What this means for the end-user and investors is a peace of mind, without the potential headaches and troubles that have plagued some investors managing their rental properties.
With 4-star hotel quality furnishings and fittings bundled in the purchase price and a ready tenant in the form of Ramada, investors can rest easy, without the hassles of outfitting their units and the source for renters, and still expect a steady, potential five to six per cent rental returns on this investment.
Ramada Suites at The Straits is expected to be completed in 2018 and prices start from SGD $240 psf. Prices start from SGD $330,000 for a 1350 square feet type C1 (2 bedroom suites + 1 bedroom suite) with the early bird discount and rebate, ending on 1st August 2015.

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With Guocoland's Goodwood Residence and Leedon Residence, the key to local property buyers heart seems to lie in TOP, the Temporary Occupation Permit, with both developments having had a rise in enquiries upon the issuance of the permit by the Build Authority. In the current market conditions, homebuyers have decided to stick to the true and tested method of choosing a home - with their own eyes.
Of the projects, Leedon Residence saw a rise in enquiries about the project and recorded sales of 24 units the last six weeks, worth more than $110 million in transaction value. To date, 80% of all units have been sold with three- and four- bedroom units garnering the most interest.
"Moving forward, TOP developments are likely to see a much greater interest as prospective buyers are able to examine the quality of the finishes and construction up close, experience the property first-hand, as well as select the exact unit best suited to their needs" said Alan Cheong, Senior Director (Research & Consultancy) of Savills.
Build on a sprawling five hectare land with generous living space amidst the comforts and tranquillity of a modern day resort, the Leedon Residence is a freehold 381-unit luxury condominium situated in District 10's Good Class Bungalow enclave.

Comprising two to five bedroom apartments, penthouses, sky suites and garden suites ranging from 1,044 sq ft to 7,718 sq ft, the Garden and Sky Suites come equipped with private pools, and three storey Penthouses with additional private express lifts and sky gardens. At the four and five bedroom apartments and penthouses, the ceiling also goes up to 6m, offering a spacious and luxurious feel to the residence.
In addition to amenities such as swimming pools, gymnasium, tennis courts and communal spaces, greenery is also well integrated with the unique 200-metre Forest Walk, recreational gardens, water courts and lush landscaping at every corner of the project.
Reminiscent of the bold and innovative architecture and design found at The Marq, internationally-acclaimed architect Chan Soo Khian of SCDA Architects has also created special outdoor rooms found in each abode to enable residents to enjoy their very own private piece of nature from the comforts of their own homes. Serving as an extension of the living space into the outdoors, the tranquil spaces that both the exteriors and interiors of the development offer was designed with a holistic approach in mind, with the architect also managing multiple disciplines ranging from site planning, architecture, landscaping to the interior design, lightning and vanity fittings, amongst others.
More than just another luxurious project, it also offers a much coveted address, surrounded by some of Singapore's most coveted GCBAs such as like Leedon, Cornwell, Belmont and Holland Park, and close to popular retail and food and beverage enclaves such as Holland Village, Dempsey Hill, and Orchard Road. For the 70% of the buyers, who are Singaporeans, being minutes away from prestigious schools such as Raffles Girls' Primary School, Nanyang Primary School, Hwa Chong Institution, National Junior College and Saint Margaret's Secondary School was probably another key factor that attracted the families to settle for Leedon Residence.
The rest of the units will continue to be progressively released for sale by Guocoland, including two, three and four bedroom units, as well as three-storey penthouses.

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HDB Resale Price Index continues slump

The HDB Resale Price Index (RPI) stood at 135.0 in Q2 2015, a fall from 135.6 in the previous quarter - marking its eighth consecutive quarter of decline. Resale transaction volume increased from 4,135 to 5,286 in the last quarter, marking a 27.6 per cent increase quarter-on-quarter.
The number of resale applications also saw a jump, with applications for four-room flats leading with 2,120 applicants, and three-room flats trailing behind with 1,518 applicants. This was mirrored by the number of subletting transactions, which increased by 1.2 per cent, from 10,385 to 10,510.

Developers slash prices, hoping to boost luxury-unit sales
Luxury developers have resorted to slashing prices in a bid to boost sales after previous months' dismal performance. In June 2015, a 2,756 sq ft 3-bedroom unit in Reignwood Hamilton Scotts was sold for $8.5 million ($3,085 psf)—a sharp decrease compared to October 2014 when a similar unit fetched $12.75 million ($4,626 psf).

Developers of luxury condos are using a combination of schemes, such as a TOP discount, absorption of Additional Buyer's Stamp Duty (ABSD) and furniture packages to attract buyers and clear unsold inventory of the completed projects. Other projects with such "star buys" include Marina Bay Suites that lowered prices for selected remaining units by another 25 per cent in addition to an existing discount, and Tomlinson Heights which has units selling at a TOP discount of 15 per cent.

Private home price declines expected to persist, in line with excess supply
Private home prices saw yet another drop in the second quarter. This marks the longest period of continuous price declines over the past decade. Analysts expect prices to remain depressed given the housing supply glut.
According to the Urban Redevelopment Authority (URA), private home prices decreased by 0.9 per cent from Q1 2015 to Q2 2015. Non-landed properties however, saw various rates of decrease in different regions. The Outside Central Region (OCR) saw a fall of 1.1 per cent. The Core Central Region (CCR) saw an accelerated fall from 0.4 per cent to 0.6 per cent.
However, the Rest of Central Region (RCR) saw a decelerated fall of 1.7 per cent to 0.4 per cent. The price weakness can be attributed to increased vacancy rates (7.2 per cent to 7.9 per cent) as completed homes add on to the number of vacant units.

2,200 EC units left unsold as of June; The Brownstone sees "high sales"
With upcoming launches adding to the executive condominium (EC) glut, the 2,200 unsold EC units as of June are the highest in almost a decade.
In an interview with Channel News Asia, Executive Director of Research and Consultancy at SLP International Property Consultants, Mr Nicholas Mak said, "During the heyday of the EC launch market that was in 2011 to 2013, the number of e-applications each EC project can sometimes achieve is double the number of units available. One of the reasons why the demand was strong was also because of rising HDB resale and condominium prices. When prices of the mass market condos are rising very rapidly, it begins to go out of reach of some HDB upgraders who will then turn to the EC market as an alternative. But right now, the prices of mass market condominiums are sliding and HDB resale prices are also fairly stagnant."

The biggest EC project to date, Sol Acres, garnered 800 e-applications for its first 707 units. The Vales EC sold less than 20 per cent of its 517 units when it opened for booking more than a week ago. Compared to November 2014, more than 95 per cent of its units at Lake Life EC were sold in two days.
Orange Tee's Senior Manager of Research and Consultancy Mr Wong Xian Yang attributed the poor response to the resale levy that has deterred second-time buyers who usually contribute to half the purchase of units at an EC development. The CEO of Century 21 Singapore, Mr Ku Swee Yong, said that a revision of the household income cap for ECs would increase demand however, families with household salaries of S$13,000 or S$14,000 are likely to take private properties into consideration as well.
The Brownstone EC enjoyed high sales, according to City Developments Limited (CDL), with 185 units sold at an average of S$810 per square foot and all five-bedroom penthouses snapped up. According to CDL, a majority of units were sold to first-time buyers. Prices started from S$596,000 for a two-bedroom unit, $695,200 for a three-bedroom unit, S$835,200 for a four-bedroom unit, and S$1.316million for a penthouse. Competitive prices, attractive recreational facilities (such as luxury pools, social gardens and a junior skating ring) and close proximity to the planned Canberra MRT station were cited as reasons for the high sales.

Choa Chu Kang EC site garners 11 bids

The recent exercise for a site in Choa Chu Kang Avenue 5 drew 11 bids, implying that developers continue to remain confident. The tender for the 99-year-leasehold site closed on 28 July. Since the tender for a site in Anchorvale Crescent in February last year attracted 12 bids, this has been the next highest number of bids for an EC site, according to property firm SLP International Property Consultants.
Top bidders were Qingjian Realty (Residential), Suntec Property Ventures and Bohai Investments (Sengkang) with a bid of S$156 million, or S$295 per square foot per plot ratio (psf ppr). Following behind them was TID Residential with a bid of S$275 psf ppr.
A market watcher said bid prices were considered low, remaining below S$300 psf, in spite of the increased number of bids. ERA Realty Key Executive Officer Mr Eugene Lim attributed this to the location of the site being less attractive than other EC sites - Wandervale and Sol Acres - that sold at S$361 psf and S$357 psf respectively. In an interview with Channel News Asia, Mr Lim said "Given the much lower land bid price, the new development could well be designed with affordability in mind, possibly with a selling price of below S$800 psf".

NUS-REDAS poll: Real estate market sentiment still weak
The sentiment index for Singapore's property market was at 3.9 in Q2 2015, 0.1 higher from the previous three months. This was according to a survey by the Real Estate Developers' Association of Singapore (REDAS) and the National University of Singapore (NUS), which polled 64 industry players. A score under five implies declining market conditions, while a score above five implies healthier conditions.
The worst performing sectors were residential and prime retail, while the best performing sector was the business park/hi-tech space. A Future Sentiment Index, which assesses the sentiment for the next six months, increased from 3.7 to 4.0. The poll revealed that developers are likely to continue with residential launches. About 52.4 per cent expect a dip in residential property prices in the next six months, while almost 75 per cent expect new launches to increase reasonably and/or maintain current levels in the next six months.

Potential for developers as demand for Krabi real estate grows
The latest modern luxury condominium project, The Emerald Ao Nang Condominium, located in Ao Nang, Krabi, was recently unveiled. In an interview with Property Report, Mr Sait Ketroj, Managing Director of developer Emerald Development Group, said that Ao Nang is a new opportunity for expanding the market, as it is the next famous tourist destination in Thailand after Phuket.

"According to market research, the supply in the condominium sector has not yet met the demand of customers. Therefore, the Emerald Ao Nang Condominium is the best choice both for customers who visit Krabi on vacation, as well as those with an interest in investing," he added. The Emerald Ao Nang is situated among tourist draws and local and international businesses, promising an accessible and centralised residence. With three buildings and 205 units in total, the project will start construction in September 2015 and will complete in 2017.

Jakarta's property revisions set to boost foreign demand for Indonesian property

Renowned for its surfing and rice-paddy landscapes, Bali saw a 15 per cent increase in prices of prime residences in 2014. Prices are set to continue increasing, as the Indonesian government looks at amending foreign property ownership rules on property, encouraging foreign demand from Asia.

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EAST, Miami Reveals Highly Anticipated First-Ever Photo Renderings of its Lifestyle Hotel Located in the Heart of Brickell City Centre

30th July 2015 - EAST, Miami, a lifestyle hotel, is pleased to release the first-ever photo renderings of the highly anticipated hotel slated to open this winter 2015 at Brickell City Centre - Swire Properties Inc's $1.05 billion mixed-use development in Miami's Brickell district. The images reveal a glimpse of the hotel's signature restaurant, Quinto La Huella, a guestroom and the pool.
Staying true to the brand's DNA, the hotel will offer a distinctive and unconventional experience for individually minded travelers who seek innovation, style and personalized service. It will be the hotel group's first property in the United States and the third hotel under the EAST brand, after the successful openings of EAST, Hong Kong in Island East in 2010 and EAST, Beijing at INDIGO, Beijing in 2013.

THE DESIGN
EAST, Miami is deliberately designed to be different. Designed by award-winning architecture firm Arquitectonica with interiors by New York-based Clodagh Design, EAST, Miami will offer 352 guestrooms to include eight suites and 89 one, two-, and three-bedroom residences, which are essentially long-stay hotel rooms with kitchen, laundry facilities and access to the amenities and services of the hotel. Ranging in size from 300 to 1,800 square feet, all rooms, suites and residences will feature balconies, contemporary interiors, and floor-to-ceiling windows with spectacular views of Miami and Biscayne Bay. EAST Miami's signature restaurant, Quinto La Huella and the hotel's rooftop bar, Sugar are designed by Los Angeles-based Studio Collective.

Guests of EAST, Miami can expect to experience the local community's eclectic and international street life, art installations and urban culture showcased throughout the property.
"Brickell is a burgeoning area for young professionals and cosmopolitan tourists alike. Our brand caters to the tech-enabled, modern traveler and EAST, Miami will offer guests advanced amenities and services that suit their needs," says Brian Williams, Managing Director of Swire Hotels. "Guests will feel energized and comfortable here as we've designed this hotel with cutting-edge technology, design, guest room and pool enhance their lifestyles and travel experiences."
THE EAST EXPERIENCE
Created for unconventional travelers looking for a fun and relaxing place to stay, EAST, Miami will feature a paperless arrival and departure service as well as a one-stop, front-desk Guest Experience team. Complimentary WiFi is available throughout the property for all guests. The hotel's premiere lobby café and bar, Domain, will an array of fine wine & spirits.
Swire Hotels will bring its award-winning expertise to the restaurant and bar mix by offering guests a traditional Uruguayan parrilla experience at its signature eatery, Quinto La Huella.
Martín Pittaluga, Gustavo Barbero, and Guzmán Artagaveytia, illustrious owners of one of Latin America's most famous beachside grills, Parador La Huella, are bringing their fire to Miami to create their first outpost outside of Uruguay. The restaurant will be located on the hotel's fifth floor and boast beautiful indoor and outdoor seating, stunning views, a stone hearth oven and a sushi bar.
Alongside two restaurants, a poolside bar & lounge and a rooftop destination bar, EAST, Miami will offer versatile meeting rooms and banquet halls suitable for any type of event. Four workshops located on the 6th floor, ideal for small meetings and breakout rooms, will range in size from 640 square feet to 840 square feet. The 38th floor will house two 1,400-square feet pre-function spaces, Rise and Set, and a 400-square-foot boardroom, High Noon. On the 39th floor, the hotel will feature a 3,400 square-foot ballroom known as The Crush, with 270 degrees of ocean and urban views. The Shrubbery and Sugar are ideal for any outdoor events and occasions, thanks to Miami's all-year round tropical climate. All of EAST, Miami's event spaces will feature floor-to-ceiling windows, complimentary WiFi access, the latest audio-visual equipment, and technical support.

To complete the ultimate guest experience, EAST, Miami's state-of-the-art fitness center and pool deck will accommodate every guest's needs. The hotel's gym, BEAST (Body by EAST), will feature the latest equipment and will be accessible 24-hours a day to cater to guests' preferred fitness regimen. The unprecedented 20,000-square-foot outdoor pool deck area will feature four unique pool experiences (lap pool, spa pool, cold plunge and hot tub) so all guests can utilize the space.
THE NEIGHBORHOOD
EAST, Miami is nestled in the heart of Brickell City Centre and between the eclectic and culturally rich upscale areas of Brickell's urban neighborhood of greater Downtown Miami and South Florida's major financial district. Guests of EAST, Miami will have plenty of options to stay entertained throughout their trip since the hotel is conveniently located in Brickell City Centre, which will offer a plethora of high-end retail shops, a movie theater, restaurants & bars, spas and more.

The fashionable guests of EAST, Miami, will have a lot to look forward to next year - Brickell City Centre's recently announced that two luxury brands, Valentino and Chopard, will be joining its open-air shopping center, developed by Swire Properties Inc, along with Whitman Family Development and Simon Property Group. The company also released other exciting retailers coming to Brickell City Centre, including a mix of contemporary American and international brands: yoga and fitness apparel chain lululemon athletica, Italian casualwear brand and celebrity favorite Harmont & Blaine, American lifestyle retailer of premium men's and women's footwear, bags, outerwear, eyewear and accessories, Cole Haan, handmade Italian sunglass retailer Illesteva and Colombian swimwear designer OndadeMar. Additional is slated to be released by Swire Prosperities Inc, in the coming months.
Brickell City Centre's first phase of development includes a luxury shopping center, two residential towers, EAST, Miami, a wellness center, and a Class A office building. As the largest private-sector project currently under construction in Miami, Brickell City Centre began vertical construction in 2013 and the first phase of completion is scheduled for the end of 2015. A second phase of construction will begin in the first quarter of 2016.

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SYDNEY, AUSTRALIA - Media OutReach - 31 July, 2015 - Sydney and Melbourne property prices have grown at more than 15 per cent per annum over the last three years, outperforming any other Australian markets and creating a bubble, said Nobel Prize winning economist Professor Vernon Smith.
Speaking at a dinner in Sydney last night hosted by the Macquarie Graduate School of Management Professor Smith discussed the future and current state of global property prices and argued that bubbles aren't necessarily a bad thing.
"In Sydney and Melbourne, you are talking about regional growth that is significantly faster than other areas. There may be speculation that that is overdone but generally bubbles are a normal function of the economy," said Professor Smith.
"There is little regulators can do to prevent them as they are largely a reflection of human nature, investing in what they perceive as a growth market," he said.
"Our research, over many years, has shown that even if investors can see that they are investing in real estate at the peak of the market, they adopt a boom-time mentality," said Professor Smith.
Professor Vernon Smith is the 2002 Nobel Memorial Prize Winner in Economics. Best known for his work on experimental economics. Professor Smith is in Australia for MGSM. While in Australia, Professor Smith also opened the Vernon L Smith Experimental Economics Laboratory at MGSM's North Ryde Campus.
"Prof Smith the founder of experimental economics and a pioneer of research on real estate bubbles," said Professor Alex Frino, Dean of MGSM.
"His lecture at the dinner provided cutting-edge insight into what is happening in Sydney and Melbourne property markets at the moment. He identified that prices are rising at an increasing rate which almost certianly signals that a bubble has formed," said Professor Frino.
This is the second event in MGSM's Nobel Laureate Speaker Series which aims to bring the greatest minds in the world to Australia to discuss critical global business issues.
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CBRE on H1 2015: Luxury property market sees signs of vigour as buyer interest returns

Good Class Bungalow (GCB) prices increased in H1 2015, despite the cooling measures. H1 2015 saw GCB prices average S$1,442 per square foot (psf)—higher than H1 2014 (S$1,381 psf), but lower than H2 2014 (S$1488 psf). CBRE also stated that although cooling measures have had marginal effects on GCB prices, investors are prevented from mortgage over-leveraging, resulting in a more stable and robust market as buyers are either occupants or investors with healthy balance sheets.
Sales volumes of luxury apartments (worth S$5 million and above) in the Core Central Region (CCR) jumped 45.7 per cent compared to H2 2014, with developers marketing recently completed projects locally and globally; prices ranged from S$2,600 psf to S$3,000 psf. CBRE expects projects with unsold inventory to be actively marketed and anticipates general price stability, as there are currently no known new luxury properties entering the market after 2017.

URA closes tender for West Coast Vale residential site

A recent tender by the Urban Redevelopment Authority (URA) for a residential site at West Coast Vale drew interest from six developers. The site, with an area of 18,908.7 sq m and maximum permissible GFA of 52,945 sqm, comes with a 99-year leasehold and attracted bids from S$236,900,000 up to S$314,100,000. Tender bids are still undergoing evaluation and an announcement for tender awards will be released at a later date.

Rulings by Thai Courts leave investors dumbfounded—but we're here to help
Recent rulings by the Phuket Provincial Court and the Court of Appeals have invalidated two types of contracts—the '30 Plus 30 Plus 30' and 'Secured 30 year leases'—which seek to extend foreign ownership of Thai property by bypassing legislation. Thailand has one of the shortest lease terms (30 years) available to foreign buyers, as compared to other countries in Southeast Asia.

With longer lease terms expected to yield higher rate of returns and hence being more attractive, investors have called on the government to extend lease terms of foreign ownership of Thai property. While this process may take years, the government has approved lease extensions in six economic zones on the basis that land-use will be for commercial and industrial purposes only. Meanwhile, Thai developers, such as a joint venture between BTS Group Holdings and Sansiri, continue to expect sustained demand for condominiums. The company will launch 25 separate projects worth THB100 billion (US$2.8 billion).

Deflation hits Johor's property market as Malaysia introduce cooling measures
Sales of residential properties in the Iskandar region saw significant declines as compared to 2013, when high-profile land deals frequently saw strong investor demand. Today, growth in the region is gradual. First quarter results in 2015 by the National Property Information Centre revealed that the sale of industrial and commercial units had generally expanded, in contrast to that of residential units. According to the National Property Information Centre, industrial property sales jumped 51.8 per cent year-on-year (y-o-y) and 6.8 per cent quarter-on-quarter (q-o-q).

Commercial property sales increased six per cent y-o-y and eight per cent q-o-q, whereas residential property sales fell by nine per cent y-o-y and 6.8 per cent q-o-q. The contraction in the residential market can be attributed to tightening controls on lending restrictions and strict cooling measures set by the Federal government. While the Singapore government had advised caution in Johor's property market given a housing supply glut, Johor continues to be one of the better performing regions in Malaysia, compared to Kuala Lumpur and Penang. This is most likely due to Johor's proximity to Singapore and weaker Malaysian ringgit vis-à-vis the Singapore dollar.

Sydney: Residential units record 18.4 per cent price hike, hitting a 13-year high

Sydney's housing prices have spiked since December 2002, emphasising regulators' efforts to restrict market gains made by property investors. In response to a housing bubble created by buyers who are rapidly acquiring property through debt-funding, regulators have imposed greater restrictions on banks to their would-be borrowers. Although such changes will undoubtedly dampen growth, prices are expected to see a further five to eight per cent increase.
For more District Guides, you can head over to iProperty.com Singapore.

Not all cookware with one long handle can be considered a saucepan. A 'real' saucepan should have these defining attributes:
First, it should have vertical sides (unlike, say, skillets or frying pans). Second, the height of the pan should be of similar length as the diameter of the pan. Finally, most saucepans have a capacity of less than 2 litres; any pan with a larger capacity automatically falls under the 'sauce or soup pot' category.
Here are some tips on finding the right one for your kitchen:
1) What is your purpose?
Saucepans typically range from 1 to 2 litres. A 2L pan should be sufficient for a household of four. Larger 4L saucepans would be tiresome to hold since it has only one handle.If you are a heavy user, consider investing in better quality pans for prolong its lifespan. Choose a size that best suits the number of people in your household.
2) Specialty saucepans
Most saucepans come with vertical sides but there are specialty saucepans in the market with unusual shapes or other unique features:
Saucier: This saucepan has a wide top and round sides which facilitates evaporation as they increase the surface area for evaporation to occur. The shorter side makes it easier to access to whatever you are cooking so stirring is made easier. Puddings, custards and risottos will be cooked perfectly in a saucier.
Windsor pan: This pan has a sloped side extending from the base of the saucepan. The flare sides allow sauce to be dissipated at a faster rate as there is a bigger surface area for evaporation. This design is great for sauces but not as versatile as the classic design.
Milk pan: This pan is essentially used for heating milk hence its name. The rim of this small saucepan has a slight indentation which allows the milk to flow out of the pan in a smooth, thin stream. A milk pan is good for reheating small amounts of liquids.
3) Materials
The most common materials used to make saucepans are copper, aluminium, cast iron, stainless steel and a combination of different materials. Every material has its pros and cons so pick the one that suits your needs best. One point to highlight is to check if your saucepan is oven-safe if you regularly need to put your cookware in the oven for the last leg of cooking. Generally, cookware that has a plastic or wooden component should not be oven safe unless stated otherwise. Non-stick coated cookware should not be heated above 250° C as well.

4) Handles
Look out for pans with medium-length handles as your hands are constantly gripping it. A longer handle means you are further away from the heat. A sturdy handle is a must, so get a saucepan with handle securely attached with heavy screws or rivets. Although some handles are heat-resistant, it's still safer to use an oven mitt when removing the saucepan from the oven. 'Heat-resistant' does not necessarily mean heat-proof and it might still be too hot for your hands.
The de Buyer company was founded in 1830 and has been creating and manufacturing the best kitchen and pastry utensils for the professional and the hobby chef.
For more kitchenware buying guide and tips, visit ToTT: http://content.tottstore.com/buying_guides

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Mandalika View - A Secret Paradise

E&O receives over 3,000 registrations for the Tamarind's Second Tower

Week in Review - 3 July 2015

OSK Holdings shareholders approve acquisitions

Week in Review - 10 July 2015

The West Side Story (of Real Estate)

Strong Interest From Local Firms, Global Players In Bandar Malaysia Project

Sous Vide Buying Guide

Week in Review - 17 July 2015

APSIL plans move into real estate agency business

Savvy investors look beyond Bali to Lombok - Asia's new rising star

Week in Review - 23 July 2015

Greenland Tebrau - A Whole New Green World

Ramada Suites at the Straits: Prime land, Prime Rent

Leedon Residence - The TOP Factor

Week in Review - 31 July 2015

First Look of EAST, Miami - A Sneak Peek of What's to Come This Winter 2015

Sydney, Melbourne Housing Is a Bubble Says Nobel Winning Economist

Week in Review - 7 Aug 2015

Guide to Buying Saucepans