On a global basis, transaction volumes dropped significantly in the Asia sector by as much as 23% for the quarter on a year-to-year basis compared to Europe and United States. If you want to invest in property Malaysia seems to offer moderate hope. However, the decreasing lack of conviction in real estate market trends has led investors to look for front end cities where liquidity and pricing have more stability.
Growth of real estate in Asia Pacific region
South East Asian cities lead the growth in the prime real estate particularly in the office rentals. Office markets in Grade-A category saw 4.4% growth in Tokyo and 8.3% in Jakarta. Asia Pacific region shows large increase in Equity Capital Availability (3.57) compared to Europe (3.02), America (3.31) and the Middle East (2.98). Bulk of the new investors comprise of large institutions such as insurance companies, pension funds and sovereign wealth funds. They are either expanding their existing investments or are first time investors. Tokyo has topped the real estates and markets to keep an eye on both in City Investment and City Development sector.
Investment prospects in various real estate sectors
Prospects for investment in major kinds of commercial properties were topped by industrial sector investments (3.62). Residential properties were lowest at 3.17. Hotels, offices, retail and apartment ranged in between these two in decreasing order. Thus the industrial properties show excellent development prospects followed by residential properties.
Performances across the region
Other that six markets that saw rental declines, the latest index of Prime Office Rental by Knight Frank for Asia Pacific showed a rise of 0.81%. This showed an increase of 19% over the last quarter. Office market property Malaysia remained slow moving while Vietnam seems to have hit rock bottom. Emerging markets like Indonesia and Philippines seemed to witness the ‘cooling trend’ due to tightening of norms by the government. Upcoming hikes in interest rates by the US leading to restricted capital flows may form the reason for the rigid stance by the government.
Slowing down in China
Slowdown in China caused mixed reactions in the market and it reflects in the growth trends of Tier-1 cities like Shanghai which saw an upward swing of 0.69% while Guangzhou and other top cities like Beijing saw a slight decrease in the prime rentals. This is attributed to the emergence of shadow-banking sector in China. Since 2011, emphasis of the Chinese government has been on restricting access to developers by decreasing bank credit with a view of shutting out liquidity that was used for the development of the mainland’s property sector.
India and Australia wait and watch scene
The scene in India was one of rental stagnation caused by elections routines combined with new budgetary proposals that were to be announced after the elections. Real estate according to the Knight Frank Sentiment Index shows skepticism among stakeholders. The general anticipation is that demand will contract over the next two quarters. Capital seems to be gravitating towards non-bank financial companies since banks remain reluctant to lend to developers in the real estate sector. In Australia, the interest in investing in mining seems to have cooled off. Combined with below-trend GDP growth, one witnesses a broad softening in the rental market. Sydney and Melbourne topped the International Constructions Costs Index at 119 and 113 respectively. Shanghai and Beijing clocked in at 91 and 90 while Kuala Lumpur and Jakarta had 74 and 57.
Recommendations for investments
On a historical scale, with respect to prospects of property Malaysia has its capital city of Kuala Lumpur ranked behind Singapore and Jakarta and ahead of Guangzhou and Hong Kong. Tokyo as always will remain the top drawer attraction for development and investment. Recommendation for apartment property residential to buy is high in Mumbai, New Delhi, Manila, Jakarta and Tokyo. Recommendations to sell are highest in secondary cities of China, Shanghai, Hong Kong, Melbourne and Beijing.
Sen. Kenneth Kelash in his farewell to his Senate colleagues last week recalled glancing at a book with the names of all the senators who’ve ever served in the Minnesota Senate.
“My name is going to be in that book,” said Kelash, DFL-Minneapolis, reflectively.
Kelash is one of the state senators who will be leaving office at the end of their term.
Of the group, Kelash, the product of a special election in 2008, is something of a junior member — Sen. Gen Olson, R-Minnetrista, was first elected in 1982 and recalled dealing with then State Auditor Mark Dayton.
Not all the reasons for the senators leaving are same.
For Kelash and Sen, Michael Jungbauer, R-East Bethel, redistricting left them with complicated political pictures and endorsement battles lost. (Jungbauer’s current Senate district includes part of Elk River.)
For others, like Sen. Chris Gerlach, R-Apple Valley, and Sen. Geoff Michel, R-Edina, controversy touched their time in office and may have played a role in their decisions not seek re-election.
For Sen. Amy Koch, R-Buffalo, news of an inappropriate relationship had her stepping down as Senate majority leader and overshadowing her meteoric rise from freshman to leader in five years and engineer of the historic electoral take over of the DFL-dominated Senate by Republicans after 40 years in the minority.
But the harsher side of politics was set aside for memories, laughter, tears and sharing nuggets of perceived wisdom from the members of the exclusive body to which only some 1,300 residents have belonged since Minnesota became a state 150 years ago.
“Compromise is not a nasty act,” said Sen. Claire Robling, R-Jordan, another area senators not returning the Senate in January.
In his speech, Kelash spoke of the men and women who sought public office.
“Politicians are extraordinary human beings,” he said.
It takes courage, and a certain amount of ego to knock on doors and in two minutes try to convince voters why you’re the best choice to represent them, he explained.
Kelash termed public service as “incredibly noble.” And he spoke of his own upbringing of growing up in a big family and having a father who earned a living with a tool box.
“The dignity of work is something that needs to be rewarded,” he said.
Gerlach, a former Air Force intercontinental ballistic missile launch officer, spoke of taking to politics catnip after some false academic starts and handing out literature as a college Republican for then gubernatorial candidate and present Secretary of the Senate Cal Ludeman.
Gerlach, considered a policy wonk by fellow Republicans, spoke of the euphoria felt when Senate Republicans secured the “Holy Grail” of politics, the majority, after decades in the wilderness.
He urged Democrats to strive to take away the grail from Republicans, and suggested an appropriate time frame could be about 36 years.
In keeping on a lighter vein, Gerlach spoke of his regret of never being lampooned by Sen. John Marty, DFL-Roseville, by having of a “mask” made of his face.
But on a more serious note, Gerlach warned Senate colleagues to avoid dragging partisanship into committee.
“Let’s not use the Ethics Committee as a political weapon,” urged Gerlach.
“Please think long and hard,” he advised.
Jungbauer — for reasons he doesn’t fully understand, he said — is consider by some to be something of an “odd duck,” he explained.
Perhaps that because his personality has him going against the grain of things, Jungbauer theorized.
Although Jungbauer ran for the Republican Party endorsement for governor and speaks of running for the Anoka County Board, in recent months he has been in the news less for his politics then for a string of mishaps ranging from being struck by car while out running near the State Capitol to being bitten by a bat and needing to undergo a series of rabies shots.
Indeed, Jungbauer spoke of having undergone two neck surgeries, two back surgeries, and of his five concussions having him on concussion watch.
But Jungbauer, in speaking of his faith in Jesus Christ, spoke of living in the knowledge that God had a plan for him and not worrying about tomorrow.
“We’re family inside of here,” he said of life within Senate walls.
Unlike Gerlach, Jungbauer — the self-proclaimed biggest global warming denier in the Minnesota — with a smile held aloft a Marty mask of himself, a “Dr. Science” mask.
Jungbauer, who has four grandchildren, like other retiring senators spoke of family.
He spoke of how the beliefs of family members sometimes had him rethinking his votes on the Senate floor.
For instance, his wife Vicki, a former smoker who finds the habit disgusting, found his vote against the statewide smoking ban incomprehensible, Jungbauer joked.
“What was I thinking?” he said.
Koch’s farewell to the Senate was at humorous, at times tearful.
She called life a mixture of good and bad.
“I am incredibly fortunate,” said Koch of her own life.
In commenting on colleagues, Koch recalled square dancing with Marty and how former Republican women state senators, like “Pistol Packin’” Pat Pariseau of Farmington, served as role models for young Republican women.
One of her proudest moments, Koch recalled, was to see Olson pick up the gavel of the Senate Education Committee.
Koch tearfully thanked Sen. Ann Rest, DFL-New Hope, for offering an amendment that brought a cancer treatment center to her community.
Koch recalled the election of Sen. Mike Parry, R-Waseca, in a special election in 2010 and remembered thinking the election of the outspoken conservative was perhaps an omen of greater things to come for Senate Republicans.
Koch said nothing directly about the events surrounding her departure from leadership and the Senate, although thanked her former deputy majority leader Michel for spending hours working at the State Capitol rather than at home with his four daughters.
“I won’t forget it,” said Koch.
Like the other senators, Koch spoke of family.
“I love you Mom,” she said.
Michel, too, spoke of family in his farewell — his was one of the briefer farewells of the day.
Running for public office, he explained, is “a little selfish” because of demands it places on families.
“Ten years is enough. Ten years is great,” said Michel of his time in the Senate.
Michel, whose district if composed of affluent suburbs, joked of representing a well-to-do district.
“Someone has to represent the One Person,” he quipped.
For her part, Robling said she wasn’t eager to run for the Senate 16 years ago but that a friend asked her to at least pray about it.
“This is a ‘Wow’ experience,” she said of coming to work in a building as stunning at the State Capitol.
Robling spoke of walking through the crowded Minnesota State Fair to the Senate State Fair Booth and sensation of realizing the Senate represented all of those people.
She spoke of the diversity of the people who stopped by the booth, and realizing that there were constituencies in the state that senators with very different political views rightfully represented.
For her part, Olson never anticipated or expected to spend 30 years in public office, she explained.
She “absolutely hated” civics and government in high school and uncharacteristically earned a “C” grade, she explained.
Olson spoke of the people and issues she dealt with in the Senate.
Once, in discussing highways, she gained media attention by making a pithy statement about a bottleneck she thought readily fixable.
“All it will take is paint and I will buy that paint,” Olson remembers herself saying.
Olson spoke of a willingness in her personal life for change — for cutting the ties, for moving on.
Maybe the reason she spent decades in the Senate is because the Senate is not static, Olson explained.
The people change, the issues change.
“This is the ever-most-changing body there is,” she said.
State Senator Mike Jungbauer (R-East Bethel) is busy training for his “Second Annual Run Across the District for Complete Streets” and he’d like to invite members of the public to join him.
Last year Senator Jungbauer successfully completed the 22 mile run/bike route between the cities of East Bethel and Elk River in his district. This year the route will also move through Nowthen, the newest city in Minnesota. Senator Jungbauer hopes to raise awareness for the transportation needs in this burgeoning new community. “This is the only section along this main east/west transportation corridor of our run/bike route that does not even have so much as a shoulder on the road,” Jungbauer said.During the 2008 Minnesota Legislative Session, Senator Jungbauer successfully introduced legislation requiring the Minnesota Department of Transportation to study the implementation of “complete streets” in new and future road design.
The “complete street” concept utilized existing right of way many roads currently have or are designed with, providing access for bicycles and pedestrians. This may involve reducing a currently designed four lane road to three with the center lane being dedicated as a left turn lane. “Statistics show that a three lane road actually increases safety by at least 25% for autos and pedestrians with less congestion because all vehicles are much more visible especially in the left hand turn lane,” Jungbauer said. The remaining space would be devoted to bicycle lanes and wide pedestrian sidewalks.
This year the event takes place on Saturday, September 6 beginning at 7a.m. at the East Bethel fire station on 2751 Viking Blvd. East Bethel. The route will proceed to Lions Park in Elk River where the run will transition to bicycles for the return trip to East Bethel.
A lead car and follow car will be present, book ending the participants for safety throughout the route.
Media or members of the public wishing to speak with Senator Jungbauer about the event should either meet the Senator before the start of the event at the East Bethel Fire station, or at Lions Park during the transition from run to bike.
Michael J. “Mike” Jungbauer (born February 9, 1958) is a Minnesota politician and a member of the Minnesota Senaterepresenting District 48 in the northern part of the Twin Cities metropolitan area. The district includes portions of Anoka andSherburne counties. A Republican, he was first elected in 2002, and was re-elected in 2006 and 2010. Prior to becoming a senator, he was the mayor of East Bethel from 1998 to 2002.
Jungbauer is currently a member of the Senate’s Capital Investment, Commerce and Consumer Protection, Energy, Utilities and Telecommunications, and Judiciary and Public Safety committees. His special legislative concerns include transportation, education, aviation issues, and concealed carry.
On February 18, 2005, the Minnesota Senate’s Subcommittee on Ethical Conduct issued a report on Jungbauer’s 2004 misuse of his Senate legislative assistant, as well as Senate communications equipment such as computers and e-mail, to publicize a partisan campaign activity on behalf of Jeffrey Davis, a Republican candidate for Minnesota Senate District 50.
In July 2007, the Minnesota Campaign Finance and Public Disclosure Board ruled that Jungbauer had knowingly accepted a campaign contribution in the form of a wholesale discount on model airplanes for his office. The Jungbauer campaign was forced to pay nearly $2,000 in fines.
On July 1, 2009, Jungbauer announced his candidacy for the 2010 Minnesota governor’s race. He officially launched his campaign in Anoka on August 8, 2009.
Jungbauer’s viewpoint on climate change has been called into question. It has also been alleged that certain claims he made regarding his studies and degrees may not be accurate. He “claims to have a bachelor’s degree from the Moody Bible Institute with a “background in biochemistry.” However, MinnPost reported on June 16, 2011, that he never graduated, and that the closest thing he has to a bachelor of science degree is a ministerial ordainment from Christian Motorsports International, which provides “chapel services” at “races, car shows, cruise-ins, and tractor pulls.” His campaign website refers to “pursuing a degree in Environmental Policy at Metropolitan State University,”although the school has no such program.