LOFT issue six
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Combining in-depth editorial with stunning photography, LOFT magazine provides both practical investment insights as well as inspiration on how to spend your capital gain.
Transcript of LOFT issue six
49 [ places ] New & Noted Places and plans for your travel diary 49
freNch coNNectioNs Why now is the right time to invest in France 52
dowN uNder Where to buy on Australia’s east coast 58
takiNg oN tax Your guide to tax efficient destinations 64
top teN LOFT looks skyward to the world’s tallest buildings 70
siNgapore shophouses Beautiful renovations are transforming the town 82
loft directorYSpaces, Faces and Places that inspired us this issue 88
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The Hampton 3A_002 The Hampton 3A_003 The Hampton 3A_007
The Hampton 3A_008 The Hampton 3A_009e The Hampton 3A_015
Steve Leung Hampton 3A_Photo Index
The Hampton 3A_002 The Hampton 3A_003 The Hampton 3A_007
The Hampton 3A_008 The Hampton 3A_009e The Hampton 3A_015
Steve Leung Hampton 3A_Photo Index
+TwinPeaks The Loft ad FA p_0112.indd 1 6/12/11 15:37:39
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11_0988 KOP Properties Hamilton Scotts Loft Magazine 216mm x 279mm Jan12 FPFC_v1.ai 1 11/30/11 5:35 PM
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Art nouveau in Paris
Sydney
PORTSEA - VICTORIA
Mornington Peninsula hot spot Portsea has recorded a rare 3.5 per cent slide to its $1.45 million (HK$12m) house median. Nonetheless, the narrow slice of prime water-fronted land is protected by “a prop-erty market love bubble”, according to long-time observer Warwick Anderson. It has only posted 36 house sales in the past 12 months so the tricky part for investors will be securing one of its few listings, RT Edgar director Anderson says. “Our homeown-ers tend to downsize in Melbourne before they will ever sell in Portsea,” Anderson explains. “Perhaps it is partly ego-driven but no matter what, they tend to hold on and do the opposite of what happens in a traditional holiday home location.”
Anderson says recent “long, cold” months have been quiet. There have been some sales under $1 million (HK$8.2m) but vendors with houses above $1 million have largely opted to remove their listings from the market. “Most of these people don’t have to sell so you could say Portsea sits in a property market love bubble protected by its low stock numbers and the fact when times get tough listings
disappear.”Anderson says $2 million to $3 million (HK$16.4m to HK$24.6m) buys a house less than 15 years’ old on 1,000 sqm to 1,500 sqm ... but good luck finding one.
ASCOT – QUEENSLANDQueensland’s prestige house values have struggled since 2008 due to the double-hit of GFC-fallout and natural disasters. Ascot, in the inner ring of Brisbane, is one of the northern city’s most prestigious suburbs. Its highest sale price this year was $4.8 million (HK$39.7m) for a house on 1239sqm, according to the Real Estate Institute of Queensland. Its median house price, however, slid backwards to $972,500 (HK$8.05m); a dip of 8.9 per cent.
“Many owners of prestige property
are either deciding not to sell until market
conditions improve or those that need to sell
have had to be very realistic in their asking
prices to achieve a sale and some owners
are selling at prices below what they would
normally have achieved in a booming market
like the one we experienced in 2007,” REIQ
manager director Dan Molloy says. “It is
fair to say we are currently at the bottom
of the property cycle and now is a good
time to buy.”
Harcourts Ascot agent David Havig says the leafy suburb has 12 “top streets” with blocks averaging 500 sqm to 600 sqm and buyers should hunt west of Racecourse Drive. “Traditionally we get a lot of expat buyers investing in Ascot and have seen more expats returning home from Europe this year with families and looking for lifestyle properties,” Havig reports.
MERMAID BEACH - QUEENSLAND
Facing the Pacific Ocean, Mermaid Beach
is home to Hedges Avenue, a one-way
street with a 40kph speed limit and a
three-storey height limit, known to locals
as “Millionaires’ Row”. Today its mansions
are changing hands for less than half their
2007 prices although agents say prices have
finally stopped freefalling after 2008/2009’s
flurry of distressed sales, which saw $20
million (HK$165.4m) abodes selling for less
than $10 million (HK$82.7m).
“Anyone who had to sell has sold so
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