Wednesday June 13th, 2018
The private temporary lodging, or “minpaku,” law, which comes into force on June 15, requires hosts to register with the government and imposes other rules and restrictions.
Airbnb had 62,000 listings in Japan earlier this year, but as of May 11, the Japanese government had approved 152 of 724 applications for home-sharing, according to the Japan Tourism Agency.
The new law limits home-sharing to 180 days a year, a cap hosts say makes it difficult to turn a profit, and leaves final decision-making up to local governments.
Thursday May 10th, 2018
The Official Cash Rate (OCR) will remain at 1.75 percent for some time to come. The direction of our next move is equally balanced, up or down. Only time and events will tell.
Economic growth and employment in New Zealand remain robust, near their sustainable levels. However, consumer price inflation remains below the 2 percent mid-point of our target due, in part, to recent low food and import price inflation, and subdued wage pressures.
The recent growth in demand has been delivered by an unprecedented increase in employment. The number of willing workers continues to rise, especially with more female and older workers choosing to participate. Likewise net immigration has added to the supply of labour, and the demand for goods, services, and accommodation.
Ahead, global economic growth is forecast to continue supporting demand for New Zealand’s products and services. Global inflation pressures are expected to rise but remain contained.
At home, ongoing spending and investment, by both households and government, is expected to support economic growth and employment demand. Business investment should also increase due to emerging capacity constraints.
The emerging capacity constraints are projected to see New Zealand’s consumer price inflation gradually rise to our 2 percent annual target.
To best ensure this outcome, we expect to keep the OCR at this expansionary level for a considerable period of time. This is the best contribution we can make, at this moment, to maximising sustainable employment and maintaining low and stable inflation.
Our economic projections, assumptions, and key risks and uncertainties, are elaborated on fully in our Monetary Policy Statement.
Monday September 12th, 2016
Australia celebrates 25 years of economic growth, without rececession
Monday January 18th, 2016
Auckland is revealed as having the fourth largest foreign-born population in the world in an international study, ranking a lineup of the world's most culturally diverse cities.
The city clocks in with 39 percent of the population born overseas.
Only Dubai, Brussels, and Toronto are ranked as cities with larger foreign-born populations anywhere in the world - for Dubai and Brussels the foreign born residents out number local born citizens.
According to Statistics New Zealand, Auckland, which has around 1.4 million residents, has more than 220 recorded ethnic groups living there.
The 2015 World Migration Report from the International Organisation for Migration looks at how international migrants and migration were shaping cities.
Auckland received a nod from the researchers involved, as one of several cities "paying increasing attention" to the role of migrants.
These cities were "attempting to create an opportunity structure for natives and newcomers alike through partnerships with migrants, the private sector and civil society", the report said.
Chinese New Settlers Trust executive director Genie Wang said Auckland was a popular choice for Chinese migrants, largely because the busy city provided some familiarity, and there were more jobs on offer.
Wang said migrants would often go through four key stages in their process of settlement.
"The first is a honeymoon period", Wang said.
"People often think, 'everything is so green' and think everyone is so interesting here."
For different people this stage would last for varying periods of time.
Wang called the next stage the "culture shock period".
Migrants could start to question why they were there, and doubts were often amplified by a dearth of friends and a lack of a job.
The third stage, Wang said, could be regarded as a turning point for many migrants.
"You realise a whole lot of things. You need to learn english. You need to get a job, and find friends."
On the home run of this difficult process of settlement, Wang said there was often a fourth period, where migrants wanted to pay something back to the community.
"In the initial stages, migrants will need support. But often once they have their lives together they are keen to do something to pay back their community for that help."
Different people would go about this in varying ways, Wang said.
Tuesday October 27th, 2015
Australasian cities are punching above their weight to attract the highest proportion of real estate investment in Asia Pacific, according to JLL’s Investment Intensity Index.
The report, which compares the volume of direct real estate investment over a three-year period to the economic size of a city, reveals that four out of the top five cities in the rankings are in Australasia. Sydney and Auckland take the top two spots, followed by Melbourne and Brisbane with Tokyo rounding out the top five.
“Australia and New Zealand are well represented in our Investment Intensity Index, as they are the most transparent real estate markets in Asia Pacific, due to attributes such as good market data availability, fair transaction processes, high standards of regulatory, accounting and corporate governance,” says Dr. Megan Walters, Head of Research, Capital Markets, Asia Pacific.
“In addition, prime office yields in Adelaide, Perth, Auckland and Brisbane ranged between 7 and 8 percent, the highest among the top ten, making these highly attractive to investors,” says Myles Huang, Research Director, Asia Pacific Capital Markets.
The report shows that cross border investment has played a key role in pushing Australasian cities to the top of the table.
Dr. Walters says, “The share of cross-border investment is above the regional average in most cities in Australia, New Zealand, together with Tokyo, as they have few government restrictions relating to foreigners buying assets.”
On average, commercial real estate assets worth 10 percent of city GDP change hands every three years, according to the report.
Aside from Tokyo, the other Asian cities in the top 10 are Hong Kong, Taipei and Singapore.
Top ten Asia Pacific cities in JLL’s Investment Intensity Index
- Hong Kong