|
|
|
| |
- Mid-Tier U.S. Cities Attracting Most Foreign Expansion
- Japan's Election Results Bode Well for Investors
- Color Your World
- Asian American Homebuyer Myths
- Thailand Hot Market for Foreign Investors
- Quarterly Publication Can Help Build your Global Market Business
- Mini-Size Gifts for Clients and Customers
- Responding to Challenges of an Increasingly Multicultural Marketplace
| |
|
|
Despite the somewhat sluggish U.S. economy, European companies have continued to invest heavily in U.S.-based manufacturing facilities, according to a survey of state commerce and economic development departments conducted by Expansion Management, a publication for executives actively looking for a place to expand or relocate their facilities. Topping the list is Kokomo, Ind., with more than $600 million in European capital investment during the preceeding two years. Daimler Chrysler, which expanded its operations there is largely credited with putting Kokomo on top. The vast majority of the top ranked cities are mid-tier cities in the southeast and midwest. Cities seeking to attract corporate investors must capture that first company, according to Expansion Management. Others will follow, knowing business executives from their country have gone through the site selection process. After several companies from a country are established in a city, related social and cultural amenities (churches, restaurants, etc.) get established, making it easier to attract more companies. REALTORS® can benefit from this business by researching which local companies are foreign owned and relocating personnel. Then learn about the country and housing preferences, and market yourself to this niche. Review the full list of 2004 top 50 U.S. cities, or check out the International Expansion section of the magazine's web site for additional global expansion news.
| |
|
Japanese Prime Minister Junichiro Koizumi's landslide victory in the Sept. 11 election handed the leader a new mandate to move forward on a range of promised sweeping economic reforms. Koizumi's Liberal Democratic Party's (LDP) standing in the lawmaking lower house was boosted by nearly 20 percent, giving ruling party lawmakers a two-thirds majority in the lower house and, with coalition partner New Komeito, the ability to override votes in the upper house. All this bodes well for foreign investors, according to a variety of news sources. Bloomberg reported that the Nikkei 225 Stock Average gained 7.7 percent since Koizumi called the election on Aug. 8 and closed at a 4-year high on Sept. 9th amid speculation Koizumi would win. The LDP victory ends much of the political uncertainty and reaffirms Japan's commitment to reforms. Even before the elections, investors had been accelerating their allocation of funds into Japan-related investments, a result, in part, of Koizumi's decision to go to the polls. As with all markets, there are risks to investing in Japan, but regulatory changes, favorable valuations, improving employment figures and increases in consumer confidence and spending, all point to a growing economy and the onset of a period of sustained recovery. According to the Sept. 13 AsiaTimes online, Jesper Koll, chief economist at Merrill Lynch Japan, said, "the conditions for a self-sustaining domestic demand-led non-inflationary growth path are better than ever." Koll spoke optimistically about Japan during a Feb. '05 address to the American Chamber of Commerce in Japan. REALTORS® with clients/customers seeking foreign investment opportunities may wish to refer them to an investment expert knowledgeable about the Japanese market.
|
|
|
|
When designing marketing materials--whether signs, web sites, brochures, or business cards, consider color and your target audience. Colors send very strong messages, but those messages will differ by culture. For example, in the U.S. the color yellow signifies visibility, caution or faith (yellow ribbons for loved ones to return home). In Scandinavia, yellow symbolizes warmth, while in Germany it evokes envy or jealousy and, in Israel, saintliness. Cutural color interpretations vary by source (a Google search on "color symbolism" resulted in more than 550,000, including this site that offers a cultural chart of colors. NAR's Information Central makes available the book, "The Culturally Customized Web Site: Customizing Web Sites for the Global Marketplace," which includes extensive commentary on color and culture. Check it out today.
| |
|
True or False: Asian Americans enjoy a high homeownership rate. False. While some metro areas show an Asian homeownership rate of 51 percent, the national homeownership rate for Asians still lags behind that of white, non-Hispanic Americans by 20 percent. Learn about other Asian American homeownership myths and facts from the Asian Real Estate Association of America. The group will hold its first national marketing conference and gala on Oct. 26, 2005 in San Francisco. Visit their web site for more information.
|
|
|
|
NAR President Al Mansell recently participated in the building of "REALTOR® Villages" in Phuket, Thailand, to help people who lost their homes during the tsunami that devastated several South Asian countries last December. NAR partnered with Habitat for Humanity International on the initiative. In spite of the devastation, real estate in Thailand is hot--both in areas affected by the tsunami and in the Gulf of Thailand, which was untouched. Thailand is home to an estimated 300,000 expats and approximately 8,000 reside in Phuket, including Americans. According to a survey by CB Richard Ellis/Thailand (CBRE), foreign buyers account for 25 percent of Thailand's Grade A condo purchases, up from 10 percent a few years ago. To assist investors, CBRE offers a free Bangkok market overview. Likely to further boost foreign sales, The Singapore branch of Bangkok Bank will offer home loans of up to 25 million baht (approx. US$610 million) for nonresidents who purchase Thai property at the Thailand International Property Investment Expo, Sept. 23-25. The bank will offer a credit line of up to 70 percent of a property's appraised value. If loans are made in U.S. dollars, the interest rate will be the U.S. prime lending rate plus 0.5 percent. This is the first Thai bank to offer mortgage financing for nonpermanent residents. The expo will also feature a seminar on foreign ownership of residential property in Thailand by the international law firm Baker & McKenzie.
| |
|
NAR members can stay abreast of what's happening worldwide in the global real estate markets, read about strategies for attracting and keeping international real estate business, get legal updates on working with foreign clients, and learn about upcoming opportunities for business networking and education. All this and more is available by subscribing to "Global Perspectives in Real Estate," a quarterly publication from NAR's International Operations group. CIPS Network members receive this publication FREE as part of their annual dues. Annual subscription is $24. Subscribe by September 27 and receive the 4Q 2005 issue for free--5 issues for the price of 4. Download the subscription form for Global Perspectives, or view select archived articles from past issues.
|
|
|
|
|
|
REALTORS® with clients and customers who will be traveling out of the country (or anywhere out of the local market) to view properties can make that travel a little more comfortable by providing small packages of travel essentials--personal care products, pharmaceuticals, favorite food products, etc. A new online store (Minimus.biz) offers more than 700 items in travel size quantities. Mini-size products also make a nice welcome gift for clients and customers re-locating into your market. Arriving at a new home to find a basket of small-size essentials can make the first day or two less stressful; giving buyers extra time to locate area supermarkets and drugstores. For foreign buyers, it also offers a nice sampling of product brands they may wish to purchase in full-size containers in the future.
| |
|
The real estate customer base is becoming increasingly ethnically and culturally diverse every day. Some minority groups, such as Hispanics and Asian Americans are projected to double or triple in size over the next few decades. REALTORS® unprepared to serve these markets may see their business negatively impacted. A new REALTOR® Magazine Online tool kit, "Serving Your Multicultural Clients," showcases valuable resources to help REALTORS® excel in an increasingly multicultural marketplace. Resources include tips on how to get started, marketing and sales strategies, education options, financing, and more. Access NAR research on diverse populations in the U.S. and related interantional research.
|
Report compiled by NAR International Operations, narglobe@realtors.org.
|
| |
Intl. Web Site of the Month: Houston Association of REALTORS®
|
Upcoming Intl. Events
 | XXXIV Congreso Nacional AMPI / Villahermosa, Tabasco, Mexico |
| Expo Real - 8th International Commercial Property Marketing Show / Munich, Germany |
| 11th CEREAN (Central Europe) Conference / Kiev, Ukraine |
| 5th Annual Hispanic Marketing Convention & Expo / New York, NY, USA |
|
Featured CIPS Course
CIPS International Institute (Middle East/ Africa, Asia, Americas and Finance), San Francisco, Calif. (offered immediately following NAR Annual Conference & Expo. Real Estate for Local Markets (formerly "Essentials of International Real Estate") also offered just prior to convention. E-mail Judy Perez at jperez@realtors.org for details or to register.
|
NAR Global Partners:
Ukrainian Realtors Association, host of 11th CEREAN (Central European Real Estate Associations Network) Congress, October 14 - 16, Kiev. NAR Member register at CEREAN Member rate. Visit www.cerean.com for details.
|
|
| |
|
| |
|
|
