Eco-tourism attraction in Australia up for sale, plus more headlines

For PropertyGuru’s news roundup, Australia’s eco-tourism attraction the Otway Fly has been listed for sale. In other news, the Philippines slipped to 13th place among 30 economies engaging in sustainable trade best practices. Lastly, when investing in property in Singapore, one should consider six important factors.

Australia’s Otway Fly eco-tourism site is listed for sale as the focus shifts to city attractions

Eco-tourism attraction the Otway Fly has been listed for sale, offering buyers a chance to continue operations or explore new options at the scenic rainforest property.

Merlin Entertainments is offloading the 81-ha freehold site best known for its 600m treetop walk suspended 25m above the forest floor. A zip line experience with nine cloud stations and a 165-seat cafe further adds to the experience of visitors seeking out nature and adventure in the heart of the Otway Ranges.

According to realcommercial.com.au, the sale comes as Merlin, a global leader in branded entertainment destinations such as Legoland and Madame Tussauds, focuses its energies on attractions in key cities.

Philippines slips in trade sustainability ranking

The Philippines slipped to 13th place among 30 economies engaging in sustainable trade best practices, according to a report by the Hinrich Foundation and the International Institute for Management Development (IMD), as mentioned in BusinessWorld.

The Hinrich-IMD Sustainable Trade Index (STI) measures 30 economies’ readiness and capacity to participate in the global trading system sustainably through 72 data points categorized into three pillars: economic, societal, and environmental.

This year, New Zealand topped the index, followed by the United Kingdom and Australia. The worst performers were Russia (30th), Papua Guinea (29th) and Pakistan (28th).

Property investment in Singapore: 6 Important factors to consider before buying

Property investment is something many consider in Singapore. With 89.7 percent of Singaporeans who own at least one property in 2023, the city-state has one of the highest homeownership rates in the world, and many homeowners consider purchasing a second as a property investment.

According to our Singapore Consumer Sentiment Study H1 2024, 52 percent of homeowners aged 22 to 29 want to buy another property while keeping their current one, and 44 percent of those aged 30 to 39 indicated interest in real estate investing.

The desire to have property investments remains strong, especially among younger Singaporeans. But before diving into the world of real estate investing, the first question you have to ask yourself is this: can you afford it?

Singapore saw property prices climb to all-time highs during the pandemic. While price growth and transaction volumes have cooled, the market remains resilient.

Multiple rounds of property cooling measures have been introduced throughout the pandemic. Most notably, Additional Buyer’s Stamp Duty (ABSD) rates were adjusted in April 2023 so that those who purchased property investments had to now pay higher taxes.

Still, many see real estate investing in Singapore as an area worth exploring. If you’re deciding on whether you should make a property investment, PropertyGuru Singapore enumerates several important factors to consider.

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