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- India Relaxes FDI Rules
- Chinese Bargain Hunting in U.S.
- Don't Gross Out the World
- Website Translation--Quick, Easy (and Free)!
- Latin America Still Looking Strong
- 10 Priciest Cities to Own a Home
- Know Your Client
- Right Tools. Right Now
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India has announced new rules that will open the doors for increased foreign direct investment (FDI), doing away with various classifications restricting FDI in Indian companies, including allowing Indian company owners to tap nonresident Indians, which will no longer be considered as foreign investment. According to UPI-Asia, almost every sector has been thrown open to FDI, and current limits increased, depending on the industry. Foreign investors will be able to use profits to invest elsewhere. For U.S. investors, this eliminates have to raise fresh funds. Is it enough and in time? Hard to know. India is under pressure to sustain its growth in 2009 by as much as 7% according to industry analysts. Government figures, however, cite FDI inflow numbers declining beginning in Oct. '08. The new regulations could provide a boost, but perhaps not for a year or two given global market conditions. General consensus is, however, that the reforms are good for India's long-term outlook.
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Chinese people are signing up to come to the U.S. with the single aim to buy homes on the cheap. Tours are being organized by Soufun.com, one of China's largest real estate portals, for investors who want to take advantage of slumping U.S. real estate prices. But it's not cheap. Fees equal a one-year annual income for some, plus airfare, but the Chinese see this a long-term investment. Investors seek housing for young children who may wish to study in the U.S., to use while here on business trips, and/or to lease. Investors are also looking at commercial properties. Trips are being focused largely on east and west coast cities where there are large Chinese immigrant populations. Aside from bargain prices, Chinese investors are drawn to the U.S. due to limited investment options at home where real estate and stock prices peaked in Oct. '07. Economists estimate that tens of billions of dollars began leaving the country during 4Q 2008 as Chinese investors began bargain-hunting.
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There can be more challenges to dining abroad than just reading the menu. REALTORS® doing business outside the U.S. should brush up on their international dinning etiquette before they leave. Test your current knowledge on 11 countries with this fun quiz on how not to gross out the world when you eat.
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As electronic translation software get better and better, REALTORS® should think about integrating a translator tool into the firm's website. Googles' translation tool is now being used for the "welcome" page for International REALTOR® Members at Realtor.org/International. While not perfect, these tools largely do the job so site visitors get basic information in their own language (the service tells them it's being translated by Google and you may wish to add your own disclaimers regarding accuracy). Adding Google Translate to your webpage is quick and easy.
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With much of the world in a downward spiral, Latin America remains a relatively good value. According to the Global Property Guide, many currencies within the region have partially followed the dollar down, but GDP growth has risen in select markets, and is up .1% in 2009, thus far, over 2008 for the entire 20-country region. Factors cited for the growth include globalization, which has put pressure toward adoption of sound economic policies; and retirees--many from the U.S. Get a detailed profile of the region and learn which markets are viewed as key picks.
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In the doom and gloom of today's economic and property market news, it's easy to loose sight of the fact that there remain the really wealthy for whom money is no object. Couple that with the softening in prices, and you have the potential for a mini boost in high-end sales. Whether or not you represent this high-market, it's fun to image if a client walked into your office today ready to spend. Where would you suggest? Monte Carlo is off the charts at $47,578 per sq. m. More reasonably, Moscow and London are just over $20K per sq. m. New York City is the only U.S. city on in the top ten at $14,898 per sq. m., making Mumbai a relative bargain in the #10 spot at $9,163 per sq. m. See the full list, along with additional market information.
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REALTORS® working in communities with a high foreign-born population can more effectively market to and serve those potential clients if they understand both the diversity and profile of the group. Recent projections (based on '07 data) indicate there are 38.1 million foreign-born living in the U.S. New data from the U.S. Census' American Community Survey (ACS), provides detailed characteristic profiles on the foreign-born population, available by country of birth. ACS data reports on key demographic factors including, age, income, education, and numerous other factors that could impact homebuying trends and marketing strategies. Learn more about the ACS or search for data reports.
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In response to the needs of NAR members during this current economic market, NAR is making available over 300 publications, education, services, resources and tools to members for free, or at-cost pricing. The intent of the initiative is to put more NAR tools and resources into members’ hands to help them with their business—Right Now. Included among the resources being made available to U.S. members are a number international products. New offers will be communicated monthly, but members can learn more at the Right Tools. Right Now website.
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Report compiled by NAR International Operations, narglobe@realtors.org.
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