News roundup: Australian buyers optimistic amid rising home prices, and other headlines

For PropertyGuru’s news roundup, Australian buyers stay optimistic amid rising home prices. In other headlines, the Commerce Ministry recommends using mini-dramas to push Thailand’s soft power, while Cambodia’s waterway transport law will boost the country’s waterway and port sector.

Buyers stay optimistic amid rising home prices

According to the latest Residential Audience Pulse Survey, 40 percent of buyers are concerned that Australian property prices will increase in the next six months.

This marks a significant uptick of 6 percent compared to the survey conducted in September 2023, reflecting a growing apprehension among potential buyers. This is in line with expert predictions across the industry, with PropTrack economists expecting between 1percent and 4 percent growth in the next 12 months.

Despite these concerns, 35 percent of respondents believe that it is currently a good time to buy, up 9 percent on the previous quarter. This suggests that while apprehensions exist, many buyers remain optimistic about market conditions, according to a report in PropTrack.

Mini-dramas key to pushing soft power

Thailand’s Commerce Ministry recommends entrepreneurs use mini-dramas to promote the country’s soft power to the global market in terms of culture, traditions and tourism.

Commerce Minister Phumtham Wechayachai led actors to meet with Prime Minister Srettha Thavisin, showcasing government support and promotion of local products globally through Y-Yuri Series. The ministry, in collaboration with famous actors Pakphoom “Mile” Romsaithong and Nattawin “Apo” Wattanakitipat from B On Cloud Company and Rebecca “Becky” Patricia Armstrong and Sarocha “Freen” Chankimha from Idol Factory Co Ltd, selected community products to be included in the film Shine featuring Mile and Apo, as well as Pin Phak by Freen and Becky.

The film was shot in the northern and northeastern parts of the country, showcasing local culture including clothes and food as well as tourist attractions.

According to a report in Bangkok Post, data from the Department of International Trade Promotion (DITP) revealed that the market value for Y content series in 2023 grew to roughly 1 billion baht, with 45 content operators and 67 stories.

Apart from the direct market value generated by Y-Yuri series, the presentation of local products through films and series could indirectly stimulate demand for Thai products and services which will result in further economic value.

Cambodia’s National Assembly ratifies draft waterway transport law

Cambodia’s National Assembly recently ratified a draft law on waterway transport in an extraordinary session. Comprising 18 chapters and 275 articles, the draft law aims at enhancing waterway investment and port management in the country.

The new legislation will regulate and boost the country’s waterway and port sector, helping reduce production costs and enhance the competitiveness of the waterborne logistics sector, a statement from the National Assembly noted in a Fibre2Fashion report.

Its provisions will be applicable to ships, port crews, ship owners and operators, shipyard facilities, waterway infrastructure and other activities within Cambodian territory related to waterborne logistics.

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