IGLU PROPERTY CONSULTANTS

Our Passion, Your Home


Leave a comment

It’s more than just a branded bag…luxury retailers entice shoppers by providing VIP services and it’s more than just a glass of champagne

By Author: Vicky Li

ImageFor those are that willing to spend large amounts of money on fashion brands, we’re talking sums as much as people’s yearly salaries on one shopping trip. Just look to Tsim Sha Tsui’s Canton Road where hoards of mainland tourists are seen strutting their branded shopping bags queuing from shop to shop. Popular international brands that are worth queuing for are the likes of Chanel, Louis Vuitton, Alexander McQueen, Prada just to name a few. A report by McKinsey states that 20 per cent of the world’s luxury sales made by next year are from Chinese shoppers. To distinguish between the shoppers that are just there for the logo pattern handbags and the ones who look beyond the trademarks of a Louis Vuitton bag for example, brands are refining the way in which they portray themselves. The shopping experience for those that are willing to spend at least $21,000 on a handbag having to queue just to get into a shop will become a thing of the past. These international designer brands have become a way of life especially in this part of the world, an identity of who they are. Just as designer gear might describe who you are, a store is just the same. Premium brands has made an effort in how the design of their store look like, almost telling a story as to who they are in what they sell. Most Asian flagships tend to be around 5,000 square feet so ultimately, that’s a lot to play around with. Whether that’s how they situate clothes, seats or theme of the store, all these are created to maximize the shopping experience for customers. Not only creating a comforting environment for shoppers looking around, it aims to make them feel superior. Feeling anymore superior than having your own VIP room when you shop? Similar to being in a club, the VIP section is for those that will without a doubt spend more, wanting to cherish the experience rather than simply “popping in” to have a look. Upon entering the VIP section, expect VIP car drop-offs, exclusive entrances for those that don’t want to be bothered. Brands that have adopted this exclusive treatment include Swiss watchmakers Breitling who have their own VIP rooms as well as the one of Asia’s favourite-Louis Vuitton. Some brands will go as far as having invitation-only fashion showrooms, you’re very own private fashion show of the top season’s trends and products that can be accessed only by a password-protected door. As the spending power of these superrich will no doubt be slowing down anytime soon, expect more extravagant services from these brands competing with each other to keep their happy shoppers loyal. The experience in shopping has become as important as wearing the brand itself, as the trend for online shopping grows, stores need to adopt strategies such as providing exclusisity to entice customers.


Leave a comment

Macau: a free car for homeowners purchasing in new luxury residential development

By Author: Vicky Li 

With intense competition for purchasing Hong Kong real estate leaving other areas such as Macau finding it tough to compete for customers. As of recent, Macau has launched a number of luxury residential to target buyers and in targeting customers, it has included giving away the environmentally friendly car BMW i3 electric car.

Image

A BMW i3 is given to every homeowner that purchases a unit at The Fountainside (www.topgear.com) 

Where do you put the car you may ask? Don’t fret, each villa in The Fountainside situated in prestigious Penha Hill district comes with its own private garage with a charging station for an electric car. In promoting awareness for sustainability, not only does the electric car does indeed come hand in hand with your very own villa but The Fountainside itself is designed to be a sustainable residential property. The development itself, The Fountainside will sell on an average between 8,300 patacas and 9,500 patacas per square foot. Whilst the villas and duplexes will range between 12,000 patacas and 16,000 per square foot.

Image

The Fountainside is one of Macau’s luxury sustainable developments (www.macaubusiness.com) 

With many investors looking elsewhere around the globe for real estate bargains for investment including the UK, US and Australia, the hidden message is here: it’s closer than you think. Macau saw high end residential prices rise 31.8 per cent year on year, however when it comes to luxury residential sales, units that are worth more than HK$30 million are comparatively low.

Whilst Macau still holds its name on the throne as the biggest gambling city in the world, when it comes to luxury real estate, it is still trying to catch up with its neighbours including Hong Kong. With fewer foreign buyers in Macau, most of the take up is primarily down to local buyers who are less than enthusiastic to buy up large lump sum luxury residential units.

Image

(www.macaupurotour.com) 


Leave a comment

New Spurs stadium to ‘kick off’ in 2017

By Author: Vicky Li 

Following the last entry about Hong Kong bidding to host the Asian Games in 2023, the trend follows and this entry focuses on London’s Premier League club Tottenham Hotspur’s new £400 million stadium. Spurs fans need not to worry, the new stadium will be next to their current stadium situated in White Hart Lane which already holds up to 36,000 fans.

This bigger and better stadium will boost revenues and enable them to compete more effectively against Europe’s top clubs. At present, within the top 20 clubs in Europe, Tottenham Hotspur has the smallest capacity stadium and for Tottenham who lost out to West Ham United in a bid to move to the Olympic Stadium in Stratford, Tottenham is in need of a new stadium which will prove that they haven’t lost out on anything just yet.

Image

Above: The new Spurs stadium will hold 56,000 spectators (tottenhamhotspur.com)

Below: The current Spurs stadium now at White Hart Lane

Image

The club has purchased 18 acres of land over the past decade which has had to relocate 72 businesses, and following from a compulsory purchase order, the club is still waiting to hear back from the Secretary of State in order for construction to begin.

Chairman of Tottenham Daniel Levy has emphasized how the new stadium will benefit London as a whole, a soon to be “landmark project”. Furthermore, Levy imposes “how critical the new stadium is over the long term”. He continued to stress that the waiting list for season ticket holderts is currently in excess of 47,000.

The new Spurs stadium will not only benefit those on the waiting list to get a turn of being right there at the new stadium. Whilst after losing out to West Ham United before, it’s a blessing in disguise for Spurs; they will create a future “key regenerative component of the local economy”.

For more information on this article:

Website: http://www.iglu.com.hk

Email: vli@iglu.com.hk

Tel: +852 2581 1709

Iglu Property Consultants Limited

Suite B, 12th Floor

Tern Centre, Tower 2,

No. 251 Queen’s Road Central

Hong Kong


Leave a comment

What it means if Hong Kong bids for the Asian Games in 2023?

By Author: Vicky Li 

With continued planned developments in both infrastructure and real estate in supporting Hong Kong as an international platform, it seems sensible that Hong Kong should bid for the Asian Games in 2023. Already, Hong Kong hosts a number of international sporting events such as the renowned Hong Kong Rugby Sevens, Hong Kong Marathon, AFC Asian Cup as well as Horse Racing events in both Sha Tin and Happy Valley which has become a national identity.

Image

 

Happy Valley racecourse in Hong Kong sits nicely amongst the skyscrapers of the city (http://www.inaresort.com/

The multi-million dollar project on the old site of the old airport-Kai Tak will provide sports infrastructure which according to the vice president of the Hong Kong Olympic Committee will be ready by 2023.

According to plans made for the Kai Tak development, the multi-purpose Sports Complex at Kai Tak aims to provide:-

  • A stadium featuring 50,000 seats with a retractable roof which will host international sports and cultural events despite weather conditions
  • A public sports ground with permanent seating for 5,000 spectators which can also be used for public use such as jogging, athletics training and matches, as well as football and rugby matches.
  • An indoor sports centre which will host indoor sporting events such as basketball, volleyball, badminton and table tennis. 4,000 seats will be constructed for spectators.
  • Outdoor park features for public use including children’s play area, public use for tai chi and fitness stations. Image
  • Artist’s impression of the Kai Tak Sports Complex (http://www.scmp.com/

At a $19 billion budget to construct one of the futures potential international sporting venues in the world, Hong Kong has much to offer in terms of creating the Sports Complex as the focal point surrounded by residential and retail aspects into the scheme. In effect, for it to be successful it can’t just be a sports complex alone and Hong Kong understands this by witnessing previous cities that have hosted the major sporting event which then become ‘ghost towns’ months later.

 In combining all these elements in order to provide one of the biggest and what is deemed one of the greatest redevelopments Hong Kong will witness, the Kai Tak development takes into account the interests of both the community and plans to raise Hong Kong’s profile as a centre for international sporting events in Asia.

 Besides Kai Tak, there are also plans to build a velodrome in Tseung Kwan O costing at HK$600 million as well as a HK$930 million for Victoria Park Swimming Pool. By the year the Asian Games are due in 2023, Hong Kong will have also increased their transport connections with nearby mainland cities such as the Hong Kong-Zhuhai-Macau Bridge which is able to provide strong support for Hong Kong in terms of venues and training facilities. 

Image

Tseung Kwan O’s future velodrome would be ready in time for the Asian Games in 2023 (http://www.prc-magazine.com/

For more information on this article:

Website: http://www.iglu.com.hk

Email: vli@iglu.com.hk

Tel: +852 2581 1709

Iglu Property Consultants Limited

Suite B, 12th Floor

Tern Centre, Tower 2,

No. 251 Queen’s Road Central

Hong Kong

 

 


Leave a comment

Urban Agriculture: Hong Kong joins the Sustainable Cities Network

By Author: Vicky Li 

Image

Earth Hour in Hong Kong 29th March 2014 

Hong Kong introduces Urban Farming

Last Saturday saw Hong Kong celebrate yet another Earth Hour since 2009. Every year, dozens of iconic buildings and landmarks turn off non-essential lights at the appointed time for one hour. The organisation behind this event is WWF-Hong Kong which aims to transform Hong Kong into Asia’s most sustainable city where nature is preserved, carbon pollution is reduced and consumption is environmentally responsible. It’s these small changes that has the power to change the way people live in promoting a sustainable future.

Research by WWF-Hong Kong has stated that for an area that operates only at 426 miles and a population of approximately 7 million people, Hong Kong are consuming 2.6 Earth’s resources. For a city that thrives on it’s iconic colourful skyline and a city bound by neon lights, the city is no stranger to utilizing large amounts of electricity 24/7. Not only that, but as a city like any other that creates an unnatural amount of waste, the future of these cities must search for more sustainable ways of living.

Hong Kong has recently introduced urban farming, various spots around the city has been employed with the use of rooftop gardens. A number of urban farming rooftop garden projects has been created to pursue further ‘greener living. In Kowloon for instance, there are the examples of Project Grow in To Kwa Wan and HK Farm in Ngau Tau Kok where workshops and planting courses are available to educate the public and in building a community working towards maintaining green spaces in the city without having to set aside a tract of undeveloped land. By using rooftop spaces instead of seeing it go to waste, urban rooftop farming can be used productively, creating both work and profit.

Image

Project GROW@To Kwa Wan, Rooftop Garden Project 

Flat A3, 11/F, Tung Nam Factory Bldg., 40 Ma Tau Kok Road, To Kwa Wan, Kowloon

- See more at: http://www.go.asia/urban-farming-in-hong-kong/#sthash.YuILiYI6.dpuf

Image

HK Farm, Ngau Tau Kok

Easy Industrial Building, 140 Wai Yip Street, Ngau Tau Kok, Kowloon

http://www.hkfarm.org/

- See more at: http://www.go.asia/urban-farming-in-hong-kong/#sthash.YuILiYI6.dpuf

There are different types of community garden projects, the allotment garden model to which Hong Kong follows is where a group of gardeners care for individual plots sharing tool shed and other amenities. Which means it doesn’t just further enhance our responsibilities in caring for our future environment, and making sure we do our bit to help our future but it also encourages social interaction between people working towards the same objective. In Hong Kong where the pace of work is fast and hectic with hardly time to relax, urban farming can be seen as a way of building a healthier lifestyle where people who work and reside in these buildings can visit these rooftops on a regular basis, a way of relaxing and appreciating nature.

Image

Urban farming bringing people together at City Farm (http://www.cityfarm.hk/)  Photo courtesy: http://www.go.asia/

Although it seems that Hong Kong has just started to adopt urban farming into the metropolis of glass skyscrapers and high-risers, urban farming was actually introduced by first settlers around the world and it never discontinued. As urban areas sprawled during the colonial times, home food gardens were introduced as cities began to become populated and the lack of open space made way for food gardens in adapting to maximizing produce at minimal space. Cities around the world made cities in becoming ‘continuous productive landscapes’ by refining vacant urban land. Other popular cities which have adapted urban farming also include New York, Cairo, in Egypt, Havana in Cuba, Mumbai in India, Bangkok in Thailand. Just a border away from Hong Kong, Shenzhen in China was once a small farming community before it too, developed buildings and a skyline at record speeds. With the growing population in China, the government supports food production from the process of urban self-sufficiency providing sustainable methods to supply for this growing city.

Image

Landgrab City is Shenzhen’s own urban farming project at the heart of the city (www.dezeen.com) 

Image

With each plot representing a different food group (www.dezeen.com) 

Image

In Cuba: the country-wide effort of establishing urban organic agriculture saw many farmers adopting the agro-ecological practices of learning, educating and establishing these initiatives (http://blogs.dickinson.edu/

Image

The rooftop garden on the InterContinental New York Barclay Hotel, which includes an apiary. The Midtown bees produce honey used in the hotel’s kitchen, and they fly to pollinate plants as far as five miles away. (http://environment.nationalgeographic.com/

In making sure that our future is working towards a greener, healthier living for generations to come. Initiatives such as urban farming has the potential to go a long way if everyone was to contribute. Encouraging small acts such as this has the power to nurture and guide people to become more aware of what is happening in the world in terms of how we can create and lead the future way of living; driving the message home that sustainability is something we should all be working towards.

 

For more information on this article:

Website: http://www.iglu.com.hk

Email: vli@iglu.com.hk

Tel: +852 2581 1709

Iglu Property Consultants Limited

Suite B, 12th Floor

Tern Centre, Tower 2,

No. 251 Queen’s Road Central

Hong Kong

 

 


Leave a comment

Birmingham will become Greater Birmingham as it continues to attract international investment

By Author: Vicky Li 

Image

As the second largest economy in the UK, Birmingham is recognized as an international commercial centre. A city that stems from rich history which saw Birmingham being severely bombed in World War II, it has reformed into what is now a competitive centre. Redevelopment in Birmingham happened during the 1950s and 1960s with new construction of tower block estates and the shopping centre to which is still there today – The Bull Ring was reconstructed as well as Birmingham’s New Street station was redeveloped.

Image

The famous design of the Bull Ring shopping centre, Birmingham (paradiseintheworld.com/)

Attracting a range of international investors into the city of Birmingham has seen 50 per cent of investment from overseas with already over 700 international firms calling Birmingham their home. Deutsche Bank will see their Greater Birmingham office double to 2,000 employees as well as car manufacturer Jaguar Land Rover. With USA being the largest international investor followed by the German, Chinese, Indian and Australian. Whilst combining the boroughs that surround Birmingham including the likes of Wolverhampton, Dudley, Solihull, Sandwell and Walsall will be altogether rebranded as Greater Birmingham.

In supporting the growth of Birmingham is the vital transport links ,with the High Speed Rail 2 in talks that will link major London to the city will not only cut travel time by half. Improvements will be made on the runway extension at Birmingham Airport costing around £40 million and an effort to bring the Metro tram station back to the city for the first time in 60 years.

The ease of access will aid to promote Birmingham which is already home to six universities making it the largest centre of higher education outside London. As the cost of living in London has forced fresh graduates and young professionals to seek employment elsewhere, Birmingham is able to offer rental prices less than half of London. In boosting the youthful workforce, 40 per cent of Birmingham’s population equates to those less than the age of 25 which to date, is the youngest population of any major European city.

Besides enhancing Birmingham as a commercial competitor, the city also aims to boost its cultural and leisure improvements. Known as the Curzon Street Masterplan which will cover up to 141 hectares of land centered around the HS2 will see 6 million square feet of retail, hotel and office space ready to be occupied and introduced to. Taking 5 years to complete commencing in 2018 and will be undergoing testing and commissioning in 2026. As a regeneration project, alone this will bring approximately £1.4 billion to the Birmingham’s local economy providing 14,000 jobs and 2,000 new homes.

Image

Artist’s impression on the regeneration of Birmingham; construction due to commence in 2018 (http://beleben.wordpress.com/)

Image

Proposed Birmingham’s Curzon Street station is set to look like this (above) 

For more information on this article:

Website: http://www.iglu.com.hk

Email: vli@iglu.com.hk

Tel: +852 2581 1709

Iglu Property Consultants Limited

Suite B, 12th Floor

Tern Centre, Tower 2,

No. 251 Queen’s Road Central

Hong Kong

 

 


Leave a comment

Crossing the harbour to Tsim Sha Tsui for property investment

By Author: Vicky Li 

Image

View from Hong Kong Island looking towards Tsim Sha Tsui 

Often abbreviated to TST, Tsim Sha Tsui is a major tourist metropolitan area in Hong Kong, the shopping haven for those from far and wide.  Famous for the plentiful renowned hotels such as The Peninsula, The Kowloon Hotel, InterContinental and the Sheraton Hotel to name just a few. Alongside, there is the breathtaking view of the Hong Kong skyline of Hong Kong Island seen from the Avenue of Stars. In general, it’s a tourist hotspot.

Image

Tsim Sha Tsui provides some of the biggest designer brands as part of its shopping haven (www.discoverhongkong.com) 

Within this active tourist district lies behind a home to nearly 300,000 and even has a number of elite properties such as neighboring Ho Man Tin as one of the latest developments to date known as Dunbar Place, with prices starting at £20 million. The underdog of TST has luxury prices in Kowloon outperforming those in the New Territories and on the Hong Kong Island, with residential prices rising by 1.5% based from research performed by Savills.

Luxury residential in TST includes The Masterpiece on Hanoi Road, The Arch at Kowloon Station and Sorrento on Austin Road as well as a number of serviced apartments available such as The Ascott, Gateway Apartments , Shama, Xin and Butterfly.

Image

The Masterpiece provides luxury residential towers over Tsim Sha Tsui with magnificent views over Hong Kong Island (above)Image

Along with The Arch (centre) next to International Commerce Centre in Kowloon as well as sleek modern towers of Sorrento to the right of The Arch (www.pbworld.com)

But as one of the most densely populated, tourist overload and a major transport core, not only is it incredibly convenient with the Hung Hom station running through, TST as well provides the China Ferry Terminal accessing the Mainland, the Star Ferry operating through the Victoria Harbour since 1888 and roads leading to the Hong Kong Island.

So are we saying that TST is the new place to live? Or the new place to invest?

Despite property prices being cheaper than those at Central and Mid-Levels on Hong Kong Island with prices per square foot costing approximately $10,000 and $20,000 for the higher end. Research by Colliers International suggest that due to the number of expatriates relocating to Hong Kong together with lower housing allowances provided for them, it seems sensible that there is a focus on leasing smaller units on the other side. For some that are subjected to rent out on lower housing budgets and downsizing their units, there is demand to seek cheaper residential districts within Hong Kong and yes, this can be found across the harbour at TST side.

However, perhaps the cheaper option to relocate on the other side becomes an incentive to trend the attraction to move over there for bigger space at lower prices. However, the question on everyone’s mind is: is it enough to experiment to leave the island?

Image

Is it enough to move away from this cluster on Hong Kong Island? What would you prefer? (www.headlineasia.com)

For more information on this article:

Website: http://www.iglu.com.hk

Email: vli@iglu.com.hk

Tel: +852 2581 1709

Iglu Property Consultants Limited

Suite B, 12th Floor

Tern Centre, Tower 2,

No. 251 Queen’s Road Central

Hong Kong

Follow

Get every new post delivered to your Inbox.

Join 328 other followers