The Residences at W Retreat Koh Samui

(KOH SAMUI, THAILAND) — The buzz is growing about the stunning, contemporary villas at The Residences at W Retreat Koh Samui with the sale reservation of all four Beachfront Residences within two months of its launch in Hong Kong.

Voted one of the 20 Top Resort Properties in Asia in 2011 by Property Report magazine, The Residences at W Retreat Koh Samui feature 12 spectacular villas that represent a new dimension of cutting-edge design, contemporary lifestyle and modern comfort for the Thai resort market.  The quick sale of the Beachfront Residences underscores the high demand for the rare opportunity to own a piece of the W lifestyle on Koh Samui.

“The demand for The Residences at the W Retreat Koh Samui has greatly exceeded expectations with the sale of all the Beachfront Residences,” said Sunny Bajaj, Managing Director of Amburaya Hotels & Resorts, developer of the property.  “There is strong demand worldwide for Thai resort properties and, in particular, for the W lifestyle brand.  Discerning buyers from all over are quickly recognizing that The Residences at the W Retreat are an excellent lifestyle investment.”

The Residences at W Retreat Koh Samui

Priced from THB65million (USD $2 million), The Residences at the W Retreat Koh Samui feature a combination of different types of villas with various sizes, ranging from two to five bedrooms and from 515 to 1,170 square meters (built-up area).  Each property is a study in tropical Zen style with exotic touches, and offers full access to the signature comforts, services and amenities available at the adjacent award-winning W Retreat Koh Samui, recently named on Conde Nast Traveler’s prestigious ‘Hot List’ for 2011′, Travel + Leisure’s ‘It List: The Best New Hotels in 2011,’ and Destination Magazine’s 2011 ‘Luxe List.’

Among the many distinguishing characteristics of The Residences at W Retreat Koh Samui are its limited number – only 12 private residences are currently available for sale – a true symbol of prestige and exclusivity for the world’s most discerning buyers.  In addition, the Retreat’s prime location along stunning Maenam Beach on the island’s north shore is widely considered to be the best location on Koh Samui, with its secluded shoreline and interesting topography that provide all residents and guests with excellent views.

The W brand’s unique mix of contemporary cool design, modern comfort and innovating style is particularly appealing to those seeking to be wowed by the finer things in life.  This includes everyone from busy executives, those looking for a weekend or holiday home to early retirees with time to appreciate Thailand and Koh Samui’s culture, cuisine, sun, sea and sand.  Moreover, from an investment perspective, the W Retreat Koh Samui is one of Thailand’s hottest resort properties with high demand from hotel guests expected to generate good rental returns for villa owners.

“There is a strong demand for lifestyle residences located in Thai resorts,” said Richard Skene, Director of Sales & Marketing for Amburaya Hotels & Resorts.  “The Residences at W Retreat Koh Samui offers an alluring combination of the W lifestyle brand and a stand-out location that is proving to be irresistible to potential owners.”

Beijing, China

Based on a new global office market report by Cushman & Wakefield, Asia-Pacific – most notably Beijing – is experiencing a boom in office rents fueled by rising demand and increasingly limited supply.

As the Chinese calendar moves into the Year of the Dragon, prime office rents in Beijing have risen year-on-year by 75%, a steeper increase than 2010 (48%) and the highest increase of any city in the world during 2011.

Beijing is now more expensive than Shanghai and is the third most costly city in Asia for occupiers taking office space behind Hong Kong and Tokyo. The two fastest-rising locations in terms of rental growth in Asia Pacific after Beijing were Shanghai (27%) and Singapore (24%).

On a global basis, Hong Kong remains the most expensive city for office space in terms of total occupancy costs, followed by London (West End) in second place, and Tokyo in third. The top three locations remained unchanged from last year. In 2010, Tokyo held the top position with London second, and Hong Kong third.

On a regional basis, Asia-Pacific saw an 8% rise in rents in 2011, the highest rate of growth in the world. The most expensive location in the Americas region was New York (Midtown), which moved ahead of Rio de Janeiro to claim the number one position in the Americas, despite dropping in the global ranking to sixth in this year from fifth last year.

“From a broad global perspective, rental rate growth has been driven primarily by modest economic improvements in an environment of limited new supply,” said Glenn Rufrano, President and Chief Executive Officer of Cushman & Wakefield.

Globally, 2011 saw office demand improving, availability falling and rents rising by 3% – an increase on 2010 (1%). The uplift in rents is a reflection of the declining balance of Grade A availability in a growing number of countries. Last year was the second consecutive year of positive rental growth following a year of declining rents in all regions in 2009.

However, the recovery remains restricted to prime office space, and is most visible in major gateway cities. While the year began strongly, economic uncertainty on a global level resulted in a drop in leasing activity during the third quarter and a slow recovery is expected through 2012.

The World’s Most Expensive Office Locations 2012

Americas

The markets with the highest office rental growth in the Americas in 2011 were Sao Paulo and Brasilia with increases of 24% and 21% respectively. Rents in the most expensive location, New York (Midtown), rose by 4%. Rio de Janeiro’s exceptional rental uplift in 2010 (almost 50%) was not repeated last year, with the city experiencing a drop in prime office rents of 8%. As a result, Rio de Janeiro fell back behind New York as the region’s most expensive office market in 2011.

Overall, occupational demand in the Americas was strong in 2011. Some markets saw exceptional growth, most notably San Francisco which saw a 20% increase in rental levels on the back of a renewed boom in the technology market. Other locations which performed robustly include Toronto and Houston as a result of the growth in technology, healthcare and energy.

Europe

Moscow experienced the steepest increase in rents of all European markets in 2011 (41%), making it the fourth most expensive office location this year. The second highest rental growth was seen in Oslo (15%). London’s West End held its position as the most expensive in Europe and the second most costly location globally for occupiers taking office space for the second year running, with a rental uplift of almost 8%.

Looking forward, while Europe’s overall economy faces more headwinds, at least in early 2012, Moscow, Frankfurt, Munich, Paris, Istanbul, Stockholm and London are expected to outpace other European markets over the next one-to-two years.

Barrie David of Cushman & Wakefield’s Global Research Group said, “Despite economic difficulties, office rental performance across the globe was largely positive with most countries showing growth over the last year. However, the picture was mixed and, given the increased caution and uncertainty as the year progressed, the outlook for 2012 is for more muted growth and occupiers to remain in the driving seat.”

John Siu, Executive Director Hong Kong, Cushman & Wakefield, commented, “The Hong Kong office market, especially the activity in Greater Central  (CBD) was very much affected by the credit crisis in Europe in the second half of 2011. Banking and finance occupiers in particular have become very cautious about their office expansion and relocation plans. As a result, landlords are now more willing to offer additional rental incentives to retain tenants in their buildings and attract new tenants. Rents in Greater Central are expected to adjust downward by 10 to 15% over the next 12 months.”

Andy Zhang, Managing Director of Cushman & Wakefield China, commented on China’s office market, “We noticed an upward trend in office rents in most major Chinese cities in 2011. The unprecedented urbanization process in China and strong economic growth will continue to drive up the demand for office space. Beijing and Shanghai have relatively mature and international office markets and will lead the rental growth. With a single-digit record low vacancy rate and not much quality supply foreseeable in the coming years, we expect Beijing and Shanghai to maintain the landlords’ market position in 2012, but the rental growth will slow down. Tenants have to be prepared with a strategy to live through this high-rental, low-vacancy period.”

Guy Taylor, Head of West End Office Agency, Cushman & Wakefield, said, “Businesses searching for space in the West End will be faced with a limited choice because available supply is much tighter than in the City of London. Many of these occupiers are less tied to location and are increasingly price sensitive. They will consider good quality low-cost space, as long as it is attractive to staff, in alternative locations. Although decision making is being delayed as a result of economic conditions we are still seeing new inquiries emerging even in these challenging times as a result of the continued appeal of the West End.”

For the seventh time in the last eight quarters, all four indexes reflecting Market Tightness, Sales Volume, Equity Financing and Debt Financing were at or above 50 – indicating growth from the previous quarter.

“In the face of an unprecedented virtual shutdown of development, the apartment market continues its strong recovery as developers play catch-up to the growing demand for rental housing,” said NMHC Chief Economist Mark Obrinsky. “Investors continue to view apartments as a preferred asset class in today’s environment and long-term demographic changes favor rental housing. However, we expect the pace of improvement in transaction activity to ease somewhat moving into 2012.”

Key report findings include:

• The Debt Financing Index increased from 70 to 74. Half (50 percent) of respondents reported that now was a better time to borrow, up from 22 percent this time last year. This is the only index that fell below 50 over the past eight quarters–and just barely (48 in January 2011).

• The Market Tightness Index rose to 60 from 52, marking the eighth straight quarter with the index at or above 50. Half of respondents (51 percent) reported the markets as unchanged from the previous three months. This compares with the 46 percent average over the 12-plus years of the survey.

• The Sales Volume Index eased further to 50 from 54. This continues a ten-quarter run of at or above 50, though it reflects the lowest number since July 2009.

• The Equity Financing Index moved up to 60 from 54, also continuing a ten-quarter run of at or above 50. More than half of respondents considered conditions unchanged from the previous quarter in the Market Tightness, Sales Volume and Equity Financing Indexes.

• Development activity continues to increase in most markets, with just over half (53 percent) reporting a substantial pickup in land acquisition, lining up financing, and getting building permits, though not yet much in the way of actual construction starts. An additional 20 percent said that developers have been breaking ground on new projects at a rapid clip.

Howard Nusbaum

(ORLANDO, FL) — The American Resort Development Association (ARDA) and the American Resort Development Association Resort Owners’ Coalition recently announced its support of the Timeshare Resale Accountability Act, sponsored by Florida State Senator Andy Gardiner and Florida State Representative Eric Eisenaugle, and supported by Florida Attorney General Pam Bondi.

This bill was enacted to protect Florida consumers and help put an end to such deceptive marketing practices conducted by fraudulent timeshare resale companies that have been targeting consumers under the guise of offering a service to help sell their timeshare product.  Timeshare owners can now hold resale companies that use deceptive business practices accountable for their actions.  Also, the legislation seeks greater transparency and will require, among other things, timeshare resale companies to disclose all terms and conditions of their business relationship with a consumer, provide for a right of rescission for consumers to cancel a contract for resale services, and impose penalties on companies who continue these deceptive practices.

“General Bondi, Senator Gardiner, and Representative Eisenaugle are to be commended for their commitment to consumer protection and transparency,” said Howard Nusbaum, president and CEO of ARDA.  “ARDA and the ARDA-Resort Owners’ Coalition support their efforts to ensure that these important safeguards are put into Florida law.”

The legislation – CS/HB 1001 and CS/SB 1408 – are in the legislative committee hearing process during the 2012 legislative session and will likely be passed by the legislature prior to its scheduled adjournment in March.

Nearly 25 percent of all timeshare resorts in the United States are located in Florida and represent a large and growing share of Florida’s tourism market. The Timeshare Resale Accountability Act is proactive legislation that is vital to ensuring the long-term health of a key sector of Florida’s tourism industry.

“This legislation is a needed first step by state authorities to take action against dishonest companies whose actions taint the industry’s reputable resale companies,” continued Nusbaum.  Similar legislation has been enacted in Colorado, and is being pursued in South Carolina.