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- Australia to Ease FDI Screening to Attract Investors
- Bargin Hunting in CEE Region
- Chinese Language Skills Can Help the Property Industry
- Eco-Cities
- High Risk; High Reward Markets
- New Zealand Is Best Destination for Expats, Says Poll
- Tracking Global Housing Prices
- The Global Side of Retail
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Australia will ease its screening of some foreign investment deals in an effort to attract investors, Australia Treasurer Wayne Swan announced in early August. Swan detailed three government reforms designed to streamline the review process and ensure the government doesn't become "unnecessarily involved in uncontroversial business transactions." Currently Australia scrutinizes all proposed investments by foreign governments and their agencies. The reforms should help boost Australia's growth -- streamlining its foreign investment regime, cutting red tape and compliance costs, and improving the country's investment competitiveness. Read Swan's announcement and summary of these reforms. Keep on top of Australia's property market with weekly market updates from the Real Estate Institute of Australia, available under Country Profiles at Realtor.org/International.
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With real estate prices and stock markets down and many fundamentally healthy businesses hurting for financing to survive the downturn, many see opportunities in the Central Eastern Europe region; among them, real estate, says Business Week. An analysis by CB Richard Ellis indicates commercial property prices in the CEE capitals are down double digits year-on-year, and the current return on investment averages around 10% and likely to grow. Warsaw and Prague are cited as the most stable markets with Budapest being the "potentially interesting opportunity," through a much higher risk. CBRE offers a wide range of reports for this market area. While this region has come along way, like all emerging markets there are varying degrees of transparency, so a trusted informed contact on the ground is invaluable. Search for a CIPS designee who is based and/or specializes in the market of interest.
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In May, U.S. Rep. Susan Davis (D-Calif.) introduced H.R. 2313, the U.S.-China Language Engagement Act, to help American workers better compete with China. The bill would give schools competitive grants to create, expand, or enhance Chinese language and cultural classes and broaden technology options to link American and Chinese schools online. China is the world's 2nd largest economy when measured by domestic purchasing power parity, and its booming economy presents a growing export opportunity for U.S. businesses. Since 2000, U.S. exports to China increased more than 300%. Yet in spite of the growth, many businesses continue to face obstacles understanding and navigating the Chinese market. H.R. 2313 is designed to overcome these obstacles. The value for the real estate industry? Increased trade means more jobs. More jobs means more commercial and residential purchases. Track H.R. 2313's progress.
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As the world increasingly embraces green living, eco-friendly design and architecture is becoming more innovative. Existing structures worth a look for their creative design incorporating green elements include Shanghai Tower, the Madrid International Convention Centre, Lindal Cedar Homes and Seawater Vertical Farm. For a look at some more futuristic designs around the world, check out Tianjin Eco-City, Zira Zero Island and Gwanggyo Power Center.
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For those with a high tolerance for risk with the potential for reward, Overseas Property Mall has published a list of five markets identified as among the most lucrative for long-term property investors. They are: Albania, Panama, Brazil, Tunisia and Philippines. For REALTORS® and their clients looking long term, the following countries may offer the best opportunity for a big pay-out. To be selected for this list by Overseas Property Mall, the destination had to have a growing economy, a stable investment environment, and be a great place to vacation. Read more about these growing markets.
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New Zealand ranked ahead of Canada, Australia, France, the United Arab Emirates, Portugal, Spain, South Africa, China and the U.S. in a survey of British expatriates who were asked to name the most preferable country for relocation. Of the 2,000 Britons surveyed, 86% say their lives are better than before they moved and 92% say they are happier, despite the poor economy. The émigrés say the combination of affordable real estate prices, agreeable tax system, and natural environment make New Zealand the best country in which to relocate. The survey was conducted by NatWest International, which provides global banking services.
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Housing prices are a bellwether of economic conditions. The Global Property Guide tracks house price changes for the year ending with the latest quarter for which they have data, compared with price changes for the equivalent previous year-long period. They publish both inflation-adjusted and nominal data. Current data available covers 2008 and through 1Q 2009.
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In 2008 CB Richard Ellis published its first report on the globalization of the retail industry, showing many retailers focused on global expansion opportunities. The global recession caused some retailers to put global expansion on hold, while others made bold moves to capture market share and be poised for rapid expansion when the economy improves. CBRE's 2009 study examines 280 leading global retailers in 67 countries, providing a useful resource for retail property specialists. The '09 survey shows that the UK remains the #1 country in attracting most global retails (U.S. ranks #10) with London the most dominant retail city, attracting almost 60% of all retailers surveyed, followed by Paris (50%) and New York (47%). Luxury retailers and those from the clothing/footwear sectors are significantly more international than retailers from other sectors. Emerging markets are a major focus of new retail activity with Middle Eastern, Asian and Eastern European countries dominating the list of new openings. Saudi Arabia saw the most new retailer arrivals, jumping from 31st in the rankings to 15th, and Dubai coming in 4th on the city list just behind New York at 46%. Download full CBRE report, or read about Shopping Capitals of the World at Forbes.com.
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Report compiled by NAR International Operations, narglobe@realtors.org.
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Featured Video Clip
Changing immigrant patterns show a shift from America’s largest cities to surburban metropolitan areas with little history or identity with immigration. This means new opportunities for REALTORS® in these markets. Audrey Singer of the Brookings Institute speaks to these changes and related challenges for U.S. policy.
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Upcoming Intl. Events
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Featured CIPS Course
Looking for a late summer get-away. Complete the full education requirements for the CIPS designation in San Diego, Sept. 10-11 (Local Markets) and 14 - 18 (CIPS Institute). Registration details online at CIPS course schedule page.
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NAR Global Partners
Congratulation to newly elected president Pedro Gava of Uruguay's Camara Inmobiliaria Uruguayas (CIU). CIU is one of NAR's 81 association partners around the globe.
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Intl. Web Site of the Month
NAR applauds the West San Gabriel Valley Association of REALTORS® (WSGVAR)'s International Committee. WSGVAR is offering an "International Education Day" for their REALTOR® members. Visit the association's website, or read the program details for Education Day.
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