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The Reserve Bank of Australia (RBA) has announced the tenth consecutive rate rise since May 2022. The Reserve Bank has seen the cash rate target increase by 25 basis points to 3.60%. In a statement, RBA Governor Phillip Lowe said he expects inflation to be above target rates for “some time”. “Global inflation remains very high. In headline terms, it is moderating, although services price inflation remains elevated in many economies. It will be some time before inflation is back to target rates. The outlook for the global economy remains subdued, with below average growth expected this year and next,” he said.  Juwai IQI Co-Founder and Group Managing Director Daniel Ho said: “Foreign buyers who finance their purchase in Australia already typically pay a significantly higher rate than domestic buyers, so rate increases can hit them harder. Even so, this rate increase is a surprise to no one. A 0.25% increase might push a monthly principal plus interest mortgage with a balance of $800,000 payment up by $135. But your mortgage only has to fall in value by $10,000 to $20,000 to counteract this increase.” Read more: The Property Tribune Do you need expert assistance on real estate investment? Fill out the form below to learn how to get the most out of your investment! [hubspot type=form portal=5699703 id=2380afe3-ad4c-4cfa-9abf-d3947e377bf2]

Real estate agents expect a surge in Singapore private residence transactions in 2020 as Malaysian cross-border buyers turn their back on Australia and flock to Singapore. This was a change from 2019 when Australia ranked first, and Singapore was only third. Official data from Singapore’s Urban Redevelopment Authority (“URA”) and agents OrangeTee & Tie also reveals that Malaysians are the second most-active foreign buyers of non-landed private homes in Singapore. Non-landed private home purchases by Malaysians climbed quickly in the second half of 2020. Malaysians bought 175 non-landed private homes in Q3 2020. This number rose 11 per cent to 194 units in Q4. Juwai IQI Group Co-Founder and CEO Kashif Ansari said, “While Malaysian buyers pushed Singapore from third to first place in 2020, they also changed the ranking of other destinations among the 10 most popular destinations. Australia dropped from first to second place with Malaysian buyers. The United States dropped from the second rank to third. Hong Kong and the Philippines dropped entirely out of the top-10. Japan moved from ninth to eighth place. The United Kingdom moved from eighth to seventh. Indonesia moved from tenth to ninth. New Zealand moved into the top ten at sixth place, and the UAE joined the top-10, ranking in tenth place. Source: Marketing In Asia