How To Make Money In Global Real Estate In A Bad Economy

Making Money In Global Real Estate

The current state of the global economy may seem gloomy to most of us, but there are still many opportunities to make money in every industry, including in real state. As some would say, there are always going to be successful and unsuccessful business ventures. This is true wherever there is a marketplace, as it is a necessary fact of a healthy market. But there are ways of maximizing your chances of being successful, and paying close attention to these key points of interest is even more necessary when the economy is in a slump. And this fact applies to real estate as much as any industry.

Part of the problem facing real estate developers in the current state of the economy is the increased difficulty in getting consumers to spend their hard earn money — not just on you, but at all. In order to be successful, in order to out-compete the competition and secure more profit, real estate developers are going to have to become just as innovative in the marketing of their products, but also in developing them. Those who manage to become more innovative will find success; those who do not, will not.

There are several specific areas that real estate developers can focus in on in order to get ahead of the competition. The first area is information. Real estate developers that are going to be successful around the globe are going to have to become more informed and demand more information throughout the industry. As a directly related point to that, successful developers will want more information, and more transparency in the industry — and not just for themselves, but also for their clients. Another related area to information is vague promises and hyperbolic information on developer websites and in brochures. An increased skepticism must come with a deeper focus on information, and this will be a good thing as fewer empty promises will result in better professional relationships.

The next area that future successful real estate developers will want to improve on is understanding the health of the overall financial systems before entering the market in the first place. This means exploring financial data and trends, and analyzing the stability and appropriateness of regulation within the financial system. The current economic crisis reaffirmed something that many businessmen and women have forgotten: without a healthy financial system supporting the economy, no industry is going to be safe from a bust. Therefore any successful real estate developer is going to need to keep an eye out on the health of the financial system.

Another area where developers will want to focus in on is specific pricing trends in real estate throughout the recent bubble and burst. The successful developer will not just want to seek a substantial discount over 2007 pricing highs, but will also want to pass on that discount onto potential buyers. This increases the buying rate of properties, and will most certainly help in the recovery. The new global real estate developer will also want to negotiate on prices that seem still too artificially high, especially when it comes to high-end, high-risk properties. And as a related note, any developer that wants to be successful will increase his or her chances by avoiding areas that run the risk of either an oversupply of real estate or copycat developments. This has a direct effect on pricing instability and unfairness at a very local level.

There is one last key area where developers will want to focus a lot of attention on as global real estate recovers from the current crisis, and that is real estate associated with larger global concerns. The most prominent of the larger global concerns right now is probably environmental in nature. Therefore the more successful developers will want to focus on developing and marketing real estate that offers a more environmentally sound or sustainable approach to living. And as an added bonus, environmentally friendly businesses are likely to receive added regulatory support or even subsidy from government agencies around the world.

There is a lot of information to be understood in these areas by real estate developers, no doubt about that. But the changing landscape of both our financial and regulatory sectors as well as the real estate industry as a whole will effectively demand that real estate developers be very cognizant of these areas. It is therefore a good idea for developers to start working on exploring and understanding these areas, as well as making what they learn a vital part of their development and marketing plans. Remember, in the end, a global real estate recovery is a necessary aspect in the broader global economic recovery. Anything that helps global real estate helps the global economy. And vice versa.

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Real Estate in Turkey

Buying Property In Turkey

Ownership of the real estate in Turkey, comes under the reciprocity principle for a foreign individual. Those countries which allow the Turkish citizens or legal entities to own property in their country, only their citizens are allowed to purchase real estate in Turkey. Those countries are the United States, Canada, Latin America, Africa and most of countries in Europe.

The price for the real estate has increased after the relaxation in the ownership restrictions for the foreigners under the Law No. 5444. a foreigner can purchase a maximum of 30 hectares (74 acres) of real estate in Turkey. More than 73,000 foreigners have bought real estate in Turkey. Buyers who are mostly from England, Germany and Greece have poured US$10.4 billion into the real estate market over five years (2002-2007). The foreign buyer has no restrictions to buy 10% of property and land in officially zoned areas like cities, resorts and towns etc. Ownership of real estate in Turkey, is prohibited for foreigner in the rural areas and also the immediate vicinity of a military zone.

There are many rules and regulations to be followed by the foreigner investor and the process become little tricky to handle. A lot of real estate agents, brokers and also property advisors are available to guide their customers. A real estate agent normally charges 3% from the buyer and 3% from the seller so the total of that becomes 6% of the whole amount. The registration process takes around nine days to finish. The “title deed of transfer” is released in about three to nine months, after the application is processed to the court. The registration and notary fees, title deed charges, and including the agent’s commission is paid by the buyer and the seller is suppose to pay the stamp duty fee along with the commission of the agent. The roundtrip transaction cost around 9.85% = 10.75 % and it also include the fees of the lawyer, notary public, registration, taxes and agents’ fees. The real estate in Turkey is subject to a change of price after one year, five years and ten years according to the latest available data or house price index, inflation is not adjusted here. As for the annual percentage, change in the house price or index from (2005-2006) or the latest data available on the price index upon yearly basis. After five years the annual percentage change in house price index and house prize is from 2001-2006 and then the price change after every ten year is from the index 1996. A landlord can expect gross annual rental income which is expressed as a percentage of price of purchase of the property.

It is highly recommended to have a solicitor to do the conveyancing, though legally there is no such requirement. For buyers of the real estate in Turkey, the government authorises an interpreter for the notarization of the property. The buyer and the seller’s presence is mandatory at the entry of the title. The economic recession has hit hard the Turkey’s exports manufacturing sectors and the logistic market is badly affected. This has resulted into the real estate in Turkey slowed down in the line with the rest of world. The consumer confidence is again picking up and retail turn over is growing although the growth rate is slower than the last year. Most of the buyers or occupiers of Turkish real estate are re-locating themselves mostly on the less expensive locations like Asian side of Istanbul.

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Burj Khalifa — The Tallest Building in the World

World’s Tallest SkyScraper

In September 2004, the Burj Dubai project started, intending to build what was expected to become the world’s tallest building. In officially opening the building, this January of 2010 – some two years after the originally intended completion date in 2008, the opening ceremony is testament to the spirit of co-operative human endeavour, overcoming all obstacles, including global recession, to achieve an outcome which is recognized as being second to none – the achi evement of having built the tallest building in  the world.

Despite good progress until late 2008, the fate of the Burj Dubai was left somewhat in the balance when the exposure of the emirate of Dubai to the financial havoc caused by global recession became apparent, with Burj Dubai looking likely to become one of many fire sale items that might need to be sold off to get the emirate out of the red. However, in the pomp and ceremony of the opening day was included a re-naming ceremony for the Burj Dubai – and it was formally opened as the Burj Khalifa – by way of tribute to the leader of Abu Dhabi – Sheik Khalifia bin Zayed Al Nahayan  who recently provided financial assistance to the neighboring Dubai to the tune of  CAD 11 ($10) billion securing the financial future of Dubai and ensuring completion of the Burg Khalifa, enabling it to take its place as the fully accredited tallest building in the world. It can be seen from 95 kilometers away. The Khalifa Tower is around half a mile high and overlooks the entire city, including existing tall buildings, it is expected to be a tourist magnet, not only for its unique height, but its location from which can be accessed all of the wonders of Dubai – the world’s largest arch bridge, the twirling tower, a refrigerated beach and some artificial islands shaped like a map of the world – for a vacation or a stopover, this new centre for tourism in Dubai promises an experience in the grandest style and well worth including in your travel plans, particularly for those who enjoy fine dining and those who love to shop.

There are over 160 levels in the Burj Khalifa – including the area given over to the Armani Hotel. The elevator has the longest travel distance in the world and there are double deck elevators which travel at 10 meters per second-the highest speeds to take you up to the highest level observation deck, where breath taking panoramic views can be enjoyed by night and day. Most of the lower levels of the Burj Khalifa are taken up by the luxurious Armani Hotel with 160 guest rooms, suites and nine hundred one or two room living accommodation units. There are 37 floors of office space all fitted out with the very latest in design and e-technology – the Burj Khalifa is a new hub for both business and social interaction and will bring some much needed new tourism and trade into the economy of Dubai.

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The Ten Tallest Buildings in the World

The Ten Tallest Skyscrapers In The World

For many years the Empire State Building in New York, USA was the unrivalled nominee for being the tallest building in the world. Since this building was completed in 1931, at 381 meters high, technology would have to advance for nearly seven decades before its height could be surpassed. In 1996, Shun Hing Square in Shenzhen, China became the world’s tallest building, at 384 meters.

Whilst there are many tall buildings currently under construction, in terms of actual completed tall buildings which are both completed and still in existence (for example the World Trade Centre is no longer on the list), and taller than the Shun Hing Square, there are several, which have displaced the Empire State Building to now ranking 14^th on the list, followed by the Shun Hing Square in Shenzhen at number 13.

The Two International Finance Centre in Hong Kong, at number 10, is followed by the Jin Mao Building which is next at number 9 and the 8^th tallest building is the Guangzhou West Tower, Guangzhou in China.

The 7^th tallest building in the world is the Wills (formerly Sears) Tower in Chicago. Number 6 on the list is the Greenland Financial Centre in Nanjing.

The Petronas Towers, Kuala Lumpur, Malaysia, follow at numbers 4 and 5, and then there is the Shanghai World Financial Centre, China, placed at number 3. The previous tallest building in the world was the Taipei 101 Tower in Taipei, Taiwan and now this is surpassed by the re-named Burj Dubai – making it the tallest building in the world – the Burj Kalifa, in Dubai.

There are criteria which must be met for being the highest building in the world which is not just a matter of constructing a huge antenna on top of the roof to gain that extra size. According to the Council of Tall Buildings and Urban Habitat, towers per se do not count, unless they also have floors so as to qualify them to be classified as buildings. A building such as the Taipei Tower is named as a tower but is still a building for ranking purposes because of its design and intended use as a commercial, residential or manufacturing building which is actually occupied. Height is measured from the ground to the structural highest point of the roof – spires are included but you cannot add into the count such things as flag poles or radio masts or antenna.

Heights and rankings of tall buildings are often disputed, and other lists which are informed from web based data may vary from the official listing above, which has been made up from data obtained by the Council. There are many other buildings around the world still in process of construction but they do not form part of the list because to meet Council requirements – a building must be “topped out”. Burj Kalifa is 828 meters high which tops the Empire State by just over double its size – the amenities of the buildings today are far in advance of the original pioneer development – the Empire State Building.

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Canada Cottage Country Real Estate – Part Five

Ontario Cottage Country Is Quickly Becoming A Real Estate Hot Spot

Muskoka, 1 ½ hours north of Toronto, is a land of beautiful lakes, waterfalls, and wooded pine forests that has become well known for its’ beautiful terrain. Long known as a home to wealthy sportsmen who settled here from the British Isles, this little piece of heaven is quickly developing into some of the most sought after real estate in the world.

Muskoka is comprised of a group of townships including Georgian Bay, Huntsville, Lake of Bays, Bracebridge, and Muskoka Lake Township. With over 2500 square miles of untouched wilderness in Muskoka there is an uncanny few amount of permanent residents. Just over 50,000 residents call Muskoka their permanent home. There are nearly 100,000 more seasonal land owners that call Muskoka their home away from home.

The exciting natural beauty of this area has a setting of pristine lakes mixed in with natural rocky shores and magnificent landscapes. The real estate here is sought after because of the peacefulness it brings to calm your soul while still offering access to sports, shopping, and entertainment.

The 3 major lakes, Muskoka, Rousseau, and Joseph, offer more than 100 miles water for your boating pleasure. Residential cottages have hefty price tags but are a cherished family gathering place to get away from the hustle and bustle of everyday life and are generally passed down through the generations. Some of the beautiful cottages here feature gazebos, boat houses, automobile garages, and full length cottage decks. Custom woodwork and one of a kind designs in fireplaces and staircases are among the most beautiful and elegant features one could hope for. Custom stone walkways, upper decks on the boat houses and even special accommodations and extra rooms are some of the options that these countryside cottages offer.

As for activity options in Muskoka the list goes on and on. Nearby museums, sledding, and parks are just a few of the activities that are available in Muskoka. For the sportsmen there is plentiful fishing and hunting activities, not to mention snowmobiles, flying tours, camping, and incredibly beautiful golf courses. For the women there are numerous shopping venues, exhibits of fine art, and delicious restaurants about. Or perhaps spending the day in one of Muskokas’ full service spa and salons where you can restore health and beauty to your body and soul while being pampered to the highest possible standards.

Real estate prices range from $100,000 on the low end to upwards of $2 million for the extravagant properties. Real estate agents online have properties listed with plenty of pictures and well written content to help you learn about the area. If you are in the market for a vacation home and enjoy the peace and tranquility of preserved wildlife I highly recommend you look at Muskoka as an option. Of course you better have your cheque book ready too!

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Collingwood Cottage Country Real Estate Is The Place To Be For Peace that Surpasses Understanding

Collingwood, located on the southern shores of the Muskokan Georgian Bay, is a recreational heaven just outside of the largest population in Canada.  It is known for its natural beauty and untouched wilderness and has real estate offerings at prices that are providing great opportunities for real estate investors.

This region is known for its’ skiing activities and is in fact titled the capital of Ontario skiing.  Set in a mountainous region the area boasts both beaches and mountains offering an endless list of possibilities when it comes to things to do.  From snowmobiles to beaches, this area has you covered if you are an outdoor enthusiast.  There is something fun to do here for the entire family. 

The farmers market, which was originally started in the Old Town Hall building back in the 1890’s, features farmers, butchers, bakers, feed and wood sellers among others.  If you enjoy getting natural rations of fresh fruits, meats, vegetables and the like then you are in for a treat. 

The Blue Mountain Resort is a world renowned ski resort hosted in Collingwood.  Condos and cottages are available here for rent or purchase and you will have access to some of the most prestigious lands in all of Canada.  It features spa baths with entirely outdoor bath areas with a mix of hot and cold both available.  Dry saunas and eucalyptus steam rooms are an incredible way to rejuvenate your energy.  The cafes are surrounded by amazing landscaping weaving visual pleasures with great aromas to fulfill your senses. 

Real estate here is available for every style taste and all budgets.  Single family homes, condos, real estate rentals, Blue mountain chalets, farms, acreage, vacant lots to build a dream home, and waterfront properties are among the choices you have in Collingwood and the Blue Mountain region.  Known for its’ small town charm it is the perfect blend of rural and urban settings with people that know how to make you feel at home.  Perfect for retirement or vacations this area boasts a wide offering of commercial and residential real estate properties that can be affordable for renters or multi millionaires looking to make a home away from home. 

Real estate professionals in the area are plentiful and they have the knowledge and understanding of the area with a desire to know your needs.  They can assist you in finding properties within your budget and answer any specific questions you have about the surrounding areas.  This area is an affordable way to get a little piece of heaven for those of you who enjoy the peace and tranquility of preserved natural wilderness combined with urban activities not too far away!

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It is often considered one of the most beautiful areas in the world, with crystal clear lakes, prime fishing areas, thick and plentiful forests, luxury resorts, and some of the most amazing sunsets you’ll ever witness. It’s the choice of home to several millionaires as well as a summer playground to the rich and famous.  In Ontario, Canada, the area is known as cottage country and it consists of a large area of land that consists of several popular towns such as Muskoka, Peterborough, Bracebridge, Haliburton, Huntsville, Orillia, Minden, and Collingwood.

It is an ideal area to purchase real estate as there are thousands of waterfront cottages, homes, and condos available for those who are interested in residential properties. There are also quite a few commercial properties available in the area. Many people have owned homes and cottages in the region for years and they are passed down from generation to generation. However, there are still many of them for sale on the market. These properties are an excellent investment and they are often rented out for extra income.

One of the most attractive things about cottage country is that it’s almost just as popular in the winter as it is in the summer. While people swim, water-ski and boat on the lakes in the summer, they snowmobile, fish, and play hockey on them during the winter. This is ideal for those who want to purchase real estate with the intention of renting it out. It is also known as one of the best areas in Canada to retire to.

The real estate prices vary greatly in cottage country as cottages are sold as low as about $100,000 and can reach as high as millions of dollars. If you have a price range in mind as well as a specific location , there are hundreds of real estate agents in the area that are more than willing to help you out. You should be able to find something suitable for just about any budget.

It is also possible to by land, such as waterfront properties, to build your own dream home or cottages on. This will also take a little bit of time and research and the help of a qualified real estate agent. There are many websites to help you in your search. These sites will give full details of the properties and buildings that are for sale and generally come with a series of photographs and contact information for the seller. While some property and homes are sold privately, you will find that most of them involve real estate companies.

The options are endless in cottage country because of the size of land it encompasses. If you do decide to look for residential or commercial property in the area, it’s a good idea to do some homework so you know what to expect when it comes to pricing. If you’re unfamiliar with the area, you may want to enlist some professional help. If you decide on using a real estate agent, it’s recommended to ask for some referrals or testimonials as it’s important you get a good agent to help you out.

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Cottage Country Canada – Part 2

Some of the hottest and most sought-after real estate properties in Canada at the moment, both residential and commercial, are in the region just north and east of Toronto, Ontario, in what is known as cottage country or ‘the Muskokas’ to the locals. While summertime traffic can often make the trip there a brutal one, it’s well worth it once you get there to enjoy everything the region has to offer.

The area is teeming with freshwater lakes, woodlands, wildlife, hiking trails, scenic cliffs, and quaint little towns. It’s no wonder that so many people are seeking property there. It’s a virtual playground all year round and a decent sized waterfront home or cottage can often fetch well over a million dollars. The area has started attracting the who’s who of North American society and many financiers, athletes, and film actors now own or rent property there.

While many Canadian entertainers and sports stars have known about the place for years, it appears Hollywood types have finally been let in on the secret and it’s not uncommon to run into Kurt Russell, Goldie Hawn, Martin Short, Tom Hanks or many others on the streets or at the local stores as they own cottages in the region.

A real estate boom hit the area about 10 years ago and many of the smaller lakeside cottages in the Muskoka’s  were bought up and then torn down, only to be replaced, by larger, luxury homes. However, while the area is definitely seen as a paradise by many, there are still quite a few real estate deals to be found on homes, cottages, and properties.

Lakefront lots are obviously at a premium, but there are so many of them, they can still be bought and built on quite easily. The region is also home to hundreds of private islands and thousands of kilometres of shoreline with many properties being pretty secluded. 

The regions of Haliburton, Collingwood, Huntsville, and Peterborough are also ideal for those who are looking to retire or to invest in some property. These towns are almost as popular in the middle of the winter as they are in the summer and there’s an endless supply of visitors looking to rent accommodations on a weekly basis. You can easily cover your mortgage by renting out your property.  The properties in these areas are typically less than in the Muskoka’s, but the locality is just as nice.

Some people have sold their homes in cottage country by necessity instead of choice though, as property taxes continuously seem to rise in Ontario. But there definitely wasn’t a shortage of buyers and that’s why country living is now more high-end than ever before.

There are many real estate agents in and around cottage country who can help you if you’re interested in residential and/or commercial properties in the area. There are also many websites that feature most available real estate properties. These will give you a good idea of the types of homes that are available and the price range that they come in.

It is believed the average price of a lake house in the Muskoka region was about $225,000, about 15 years ago, and according to the Muskoka and Halliburton Association of Realtors, that price is now closer to $1 million. However, there are still some hidden gems and prime real estate still available for considerably less.

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Canada Cottage Country Real Estate – Intro

 Cottage Country Canada  Part 1

Central and Eastern Ontario are wonderful travel destinations for anyone looking to get away from it all. With scenic views and easy lake access, Canada’s cottage country is a very popular tourist destination spot for people from many locations around the world. Each region of Canada has their own local cottage district, with variations in Ottawa and Ontario.

The Ontario cottage district includes the Muskoka, Peterborough, Haliburton Collingwood, and Kawarthas. Cottage country in Canada is very busy on weekends, especially those around the holidays. If you are expecting peace and quiet, then you may want to avoid cottage country during Victoria Day, Civic Holiday, and during the first weekend in September. If you don’t mind a little bustle, however, these long weekends can be very relaxing. There are plenty of recreational areas in the region that provide activities for the whole family.

The lakes are very popular destination spots in Canada. Muskoka is a region that is home to 1,600 lakes, including Lake Couchiching. The Algonquin Provincial Park is also in the Muskoka region, offering tourists a chance to get out and enjoy nature anytime of the year. The park is over 7,000 square kilometres, and is connected by rivers that were once glaciers. There are roughly one million visitors to the park each year, making it one of Canada’s most visited state parks.

Collingwood is located in the Georgian Triangle region and is a town in Simcoe county. Collingwood is a famous tourist spot because of its old time charm and location. It is located in the heart of four-season destination area and known for its vacation cottage resorts.

Haliburton is located in Ontario, as well. This section of Canada is known for its picturesque views and local artisans, as well as being home to Head Lake. This region of Canada is rural, but offers lodgings in the villages of Wilberforce and Eagle Lake, just to name a couple of the tourist destinations in the regions. Eagle Lake also offers a ski resort for family style winter fun.

Kawartha Lakes also lie in Ontario, and offer guests a diverse supply of river and lake access. The region has fifteen main lakes, as well as a host of resorts and lodgings for guests. The Canadian Shield is located in the Kawartha region, where the lakes in the area are wedged between the Shield and the ancient limestone that forms the Golden Horseshoe. The lakes of Kawartha run all of the way to Peterborough, another of Canada’s famous cottage country regions.

Peterborough is also home to a variety of lakes and scenic state parks, with the Kawartha Highlands Provincial Park running through the region. Agriculture is very important in this rural area, which also offers tourists a chance to lodge in lakeside homes while on vacation.

All of Ontario’s cottage country is very laid back and focuses on the outdoors. Warm summer weather brings an influx of tourists to the region, but any long weekend is a good chance to visit the scenic country of Ontario. Each region has unique features, ranging from ancient stone formations to activities on the lakes and rivers of the region. With dozens of lakes to chose from, and lodgings that vary from rustic to luxury, there is something for everyone in Canada’s cottage country.

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Size up options for buying a retirement home abroad

For a long time in the past when people went abroad all they had in mind was simply going out to spoil themselves vacationing from the familiar environment and all they brought back was a few mementos and probably a camera full of pictures they clicked away. However things are turning different today, what with the prospects of acquiring property abroad and settling there, especially after one has retired. Many folks who faced an uncertain future due to the cost of property at home are discovering they can actually acquire high end properties such as condos and villas abroad at what would sound like a good bargain at home.

Many people are now in the acquisition frenzy because of the many stories they have heard from others who have successfully bought real estate abroad. The current economic crisis has not made things better, what the depreciating value of most people’s lifetime savings. The cash people thought would go along way in taking them through retirement is slipping through their fingers. Whereas it would cost you hundreds of thousand of dollars to try and invest locally, things are looking very positive abroad and it is now a race against time as most savers try and get a piece of the cake.

To give you an idea of how sweet things are, consider that for example, a resident of Florida who wants to escape to someplace out of the country but not to far from home would consider settling in Mexico. Whereas they would require a minimum of $100,000 in Florida itself or $150,000 to buy a small apartment in New York city, going down to Mexico they would most likely acquire a beautiful condo with a beachfront for as little as $50,000 which means they will still have enough change to help them settle down for many days to come. Apart from the low prices they will have escaped to a quite and secure place to enjoy their sunset years.

For the person who is a little adventurous another unique location to consider would be Nicaragua which is nestled quietly at the heart of Central America. This is a country that has left behind a long dark history of civil wars and is now a fast developing third world country but with all the trappings of the first world. For a long time people consider Costa Rica to be the only place you could settle in the region but now they are knowing better. You will enjoy getting a nice villa with its own large compound, fro those who love space for anything between $50,000 and $100,000 on the very higher side. The cost of living is nothing to compare with many places in the Americas.

But if your idea of a real escape is far away in Europe you may want to consider the emerging property market of Eastern Europe. For prices that you will consider a real throw away when you compare with the rest of Western Europe you will grab for yourself a first class condo or even a serene waterfront villa. As the rest of the continent struggles to grab the little remaining space, here you will acquire large swathes of beach property for as little as $40,000 and that is just the beginning of the good news.

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