Investors target hospitality assets as APAC tourism recovers, and additional reports

For PropertyGuru’s news roundup, real estate investors are picking up hospitality assets in Asia Pacific as tourism in the region recovers. In other reports, awareness and understanding of property tax obligations in Cambodia have shown continuous improvement as the payment deadline approaches. Lastly, transforming bathroom facilities to meet the needs of the elderly requires tremendous attention to detail.

Investors target hospitality amidst sunny outlook for APAC tourism

Real estate investors are picking up hospitality assets in Asia Pacific as tourism in the region recovers and, in some cases, surpasses pre-pandemic levels. Data from MSCI show acquisitions of hotel properties rose 22 percent year-on-year to USD7.8 billion in the first half of this year, by far the best performance of any real estate sector.

Simon Smith, Head of Asia Pacific Research & Consultancy at Savills, says: “Real estate investors have bought into the strong post-pandemic recovery in most markets, but also into the prospects of future growth across the region. The present recovery has been achieved despite lower numbers of Chinese tourists in the region, suggesting further growth as Chinese tourism recovers. Additionally, more outbound tourists from India and other growing economies are expected.”

Japan has been a notable post-covid success: the number of inbound tourists was 17.8 million in the first half of 2024, 7 percent greater than the same period in 2019 and total spending was up 34 percent.

The recovery has been so strong that some busy areas, such as Tokyo and Kyoto, have seen complaints about ‘overtourism’. However, Tetsuya Kaneko, Head of Japan Research & Consultancy points out that the problem only affects a few areas in a handful of prefectures.

“Many others would gladly welcome more tourists,” he says. “Japan has many areas relatively unknown to international audiences which have the potential to attract tourists.”

Cambodia: Experts note improved compliance as the property tax deadline approaches

Real estate experts and economists have claimed that awareness and understanding of property tax obligations in Cambodia have shown continuous improvement as the deadline for paying the 2024 annual property tax approaches at the end of September.

Property tax collection is generally conducted annually between June and September, except during the global COVID-19 pandemic, when the deadline was extended to the end of October.

On 19th September, the General Department of Taxation (GDT) issued a notice reminding all taxpayers to fulfil their obligations before the deadline. “There are only about 11 days left until the property tax deadline for 2024, which falls on September 30. Property owners who fail to declare and pay their property taxes on time will face administrative penalties in accordance with the law and existing regulations,” the GDT stated in The Phnom Penh Post.

Smart ways for designing bathrooms for the elderly and safety tips

When deciding on the layout of your home, you have to ensure that it provides comfort to all family members, especially the elderly. Safety and function must harmoniously complement each other, especially in a bathroom. It is essential to design a bathroom that caters to the demands of the elders and improves their overall experience.

With several subtle accents, it is possible to achieve the necessary aesthetic and, at the same time, ideally equip the bathroom. However, Housing.com mentions that transforming bathroom facilities to meet the needs of the elderly requires tremendous attention to detail.

The Property Report editors wrote this article. For more information, email: [email protected].