Financial Considerations When Buying Condo In Bangkok

Your financial responsibility does not end after you closed a deal for a Bangkok condo for sale. As a matter of fact, it has only begun. If you will mortgage the unit, you have the monthly payment to think about, to begin with. However, even if you opt for a one-time payment for the entire unit, there are other fees that you need to think about. This is not to discourage potential buyers of condo in Bangkok. This is just about giving the prospective buyer an idea on the additional payments and fees that he has to prepare for when he is already occupying the condo unit.

Apart from the usual monthly utility bills, there is also condominium fee to think about.  Condo fees are monthly dues collected from each unit owner. The amount collected is used to pay for monthly utilities and maintenance of areas commonly shared by individual owners of the building. The payment for property and liability insurance for the building’s exterior and common areas are also taken from the monthly dues. The amount of monthly dues for Bangkok condo for sale depends on the size or floor area of the unit. For instance, the owner of a two-bedroom unit with 1,500 square feet will pay lower monthly dues compared to an owner with three-bedroom, 2,000  square feet unit. The location and floor of the condo unit will also affect the amount of monthly dues collectible from the owner. As an example, condo units situated in lower floors are more expensive and are more sellable compared to units situated in higher floors.

The amount of condo fees also differ from one developer to another including the amenities present in the building. Before buying a Bangkok condo for sale, check the unit’s financial history from the condominium’s association treasurer. The treasurer should be able to provide trends and history including the standing reserve fund of the building. The higher the reserve fund is, the better. This goes to show that condo association can easily fund emergency repairs and maintenance needs at any given time.

 

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The Growing Market Demand For Self Storage In Asia

Cheap storage Bristol is seeing an increase in demand because of the shortfall in self-storage facilities in the UK. Growth in the self-storage sector has continued even during the economic downturn defying a stagnant housing market, weak bank lending and the tax that was imposed by the Treasury in 2012. Cheap storage Bristol started by offering space for household stuff and bric-a-bracs but recently every single storage space is being taken by small businesses including tradesmen who want security for their tools.

While the self-storage industry has already matured and developed in the US, UK and Australia, Asia is still fast catching up. Self-storage Asia is expanding and growing market demand needs more storage space. Consumer demand is high in cities like Tokyo, Hong Kong and Singapore because of disruptive life events, urbanization and changes in business activity. In response, investors are now increasingly attracted to this alternative asset class in the Asian region.
Investor interest has peaked up due to favorable demographic and economic trends in the region. This is demonstrated by the huge success of the recent Self-Storage Expo Asia that drew around 200 participants.

The outlook for self-storage in Asia is positive due to e-commerce expansion, demographic trends and robust office growth. Self-storage market is also due for expansion in Mainland China in the cities of Shenzhen, Shanghai and Beijing. Asian cities like Taipei, Kuala Lumpur, Manila and Bangkok are expected to be among the emerging markets for self-storage. These markets are experiencing shortage in the supply of storage facilities because of tighter living spaces due to urbanization, strong job growth and an expanding office market.

A CBRE study shows that the markets in Tokyo, Hong Kong and Singapore have a shortfall in storage space and this is very apparent if you will compare Asia self-storage per household – 1.3 square feet in Singapore, 1.1 square feet in Hong Kong and 0.32 square feet in Tokyo. In developed markets like the United States, they have 21.62 square feet per household. However, CBRE believes that it is very unlikely for the self-storage industry in Asia to reach the same level of penetration as the US. There is also the lack of available properties to convert and the lower awareness for self-storage in Asia.

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Myanmar’s Code Of Conduct For The Garments Industry

People will continue to buy clothes no matter the conditions in the economy particularly with the unprecedented growth of online retail sites like TV Store online.

Most of the garments sold in retail stores are made from other countries where labor is cheaper. However, in Myanmar, there is a code of conduct that sets out responsible and ethical business practices for the garment industry. Myanmar Garment Manufacturers Association represents around 300 companies and it aims to provide a benchmark for responsible business practices in the garments sector.

The code of conduct came at a time when Myanmar is opening the country as a manufacturing base. It is taking into account the concerns of factory workers as well as worker’s rights activists about poor working environments and low wages paid by employers. The code of conduct is considered as a first for Myanmar’s apparel exporters.

The current garment industry of Myanmar is growing with 300 companies employing from 150,000 to 250,000 workers. Based on reports, Myanmar garment exports exceeded US$1 billion in 2013-14 and makes up about 10% of the country’s overall exports. The country is preparing for more orders coming from Europe and the United States with a target of US$2 billion by 2016. The implementation of the Code of Conduct will address the concerns of international retailers on the health and safety of workers.

The SME’s for Environmental, Accountability, Responsibility and Transparency were launched for the SMART program in 2014 with European assistance. The aim of the Smart program is to support the sustainable production of garments that are “Made in Myanmar” and to strive for the increase in international competitiveness for the SME sector.
The organization realizes the challenges it will meet in implementing all the necessary changes in the factory level including the policy level that will encourage the industry to grow. SMART Myanmar knows that it will play an important role in the process because it has to ensure that the factory level can be showcased for other industrialists. SMART Myanmar will address the need for policy changes so that the organizations can achieve its goal. SMART Myanmar plans to holds dialogues with both Myanmar Garments Manufacturers Association and the Ministry of Commerce.

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The Surprise Move By The Central Bank Of India

India made a move that surprised the market. It has cut the key interest rate for the second time this year. The central bank of India has lowered its policy repo rate by 25 basis points to 7.5% after making a similar cut in the middle of January. Repo rate means the level at which the central bank lends to commercial banks.

What was the reason for the surprise move?

The reason cited was a weaker economy. After the surprise move, the rupee rose by as much as 61.88 against the US dollar – the strongest since February. The benchmark BSE Sensex index rose by 1.4% to hit a record high of 30,010.91 for the first time ever since it reached the 30,000 mark. However, when the rates were cut in mid-January, economists have already predicted that it is the first of a series of a rate-cutting cycle.

Industries have long been complaining of the high interest rates and borrowing from the banks to make an investment was too expensive. The surprise move is welcome news for manufacturers of “Make in India”. It will also make loans for homes, cars and motorbikes a lot more affordable for consumers.

The second cut in the interest rates came just a few days after the long awaited first full budget for the Modi government. It looks like a vote of confidence from the central bank particularly since the finance minister gave himself another extra year in order to hit the 3% budget deficit target. This is specifically for the purpose of infrastructure spending so that more roads and bridges will be built.

According to the central bank governor Raghuram Rajan, softer inflation and the commitment by the government to fiscal discipline were behind the easing measure. In a statement, Rajan said “Softer readings on inflation are expected to come in through the first half of 2015-16 before firming up to below 6% in the second half.” Last year, India’s inflation has eased sharply due to the decline in the prices of oil but rose to an annual 5.11% in January. This is still below the reserve bank’s target of 6%.

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