Buying Property In A Foreign Country

Home in the Country – But Which Country?

First Published Date: June 27, 2009

There is a lot of importance placed on where a person lives. Where we live is something that identifies us as much as anything else – as much as our job, as much as our outward appearance and as much as our name. Our primary home address is asked for by any organization with which we seek to join up. However, a second home is something different. While our primary home may be something that plays a huge part in our everyday life, our secondary home is something that matters for an entirely different reason. The primary home is for function and for family. The second home, more than anything, is for fun. We can look to buy a second home elsewhere in the world, because a house in another country allows us to have somewhere to stay when we go on holiday, among other things.

The “other things” include somewhere to live during our retirement. Having worked all our lives for a chance to relax and let ourselves get a bit of time to  ourselves, we can put money into buying a house somewhere nice and warm – additionally, having spent time somewhere on holiday allows us to scope out a place for the future. If you have been somewhere before and know that you like it, then you have the awareness that the place will be to your taste. How many times have you been on holiday somewhere and thought “this is such a great spot, I wish I didn’t have to go home – I wish I could live here for the rest of my life!”. Although the rest of your life may be stretching it somewhat, getting a retirement property nailed down somewhere else is never a bad idea.

There are many countries where buying a property has become something that you can only do with a lot of money behind you. Banks and lending corporations are reluctant to give mortgages with the housing market still in an uncertain shape. There are more than a few nations where property is still a very manageable investment, and taking advantage of this is something that shouldn’t be beyond a wise investor. It is important to sit and think of where you want to go, and what your reasons are – a family link? A good business opportunity? A country that is special to you, for any other reason. it doesn’t matter. What matters is that you get a plan into action.

Countries in North Africa have become highly popular with property investors in the last six months, with the region’s proximity to the Southern tip of Western Europe a big pull. But it isn’t just about being near to Spain, France and Portugal – there is a growing holiday industry in what is a beautiful part of the world. Then there is South America – although some of the continent has been either colonized by tourists or beset by the same economic problems as the rest of the world, there are great properties available at wonderful prices in Brazil, a country which is moving up in terms of business and has always been keenly thought of by tourists.

To streamline and minimize blog maintenance, I will be discontinuing maintaining the realestateexpedition.com website (however, I will still hold the domain). I will gradually move all articles from this site to A Dawn Journal. This article originally published on the above website on June 27, 2009.

Real Estate Property in Costa Rica

Costa Rica? Si, Muy Rica.

First Published Date: July 18, 2009

It would probably take most people quite some time to guess which country recently finished top of the pile when Happy Planet decided to list the happiest countries in the world. Admittedly amid a recession it may not be easy for anyone to guess, because the impression we are generally led to have is that everyone in every country is walking around under a massive dark cloud. It appears, however, that one place in which people are smiling their broadest smiles and talking about the future with optimism is a country with a name that – at least presently – seems perfectly appropriate. Costa Rica – “the rich coast” – is being touted as the place to be. It is green, it is thriving and it seems that nothing can wipe the smile off its face.

To buy real estate property in Costa Rica currently is to join in with an increasing number of American and Canadian citizens who are drawn by the promise of Paradise on Earth. It would be easy to point fingers and laugh at the hubris, the cliché, but unless there is something in the water in San José then it would appear that this is a country with an awful lot going for it. Certainly it appeals to more and more people as time goes on, and business investment as well as real estate are both seeing money being pumped into the country. The fact that there are tax breaks for foreign investors surely doesn’t hurt, but you don’t need to come from elsewhere to see the benefits of Costa Rica – when surveyed, Costa Ricans themselves revealed the highest life satisfaction in all the world.

Property prices for a condo are, in general, slightly lower than you would pay for one further north, with the added advantage that property taxes are low in Costa Rica as a means of attracting external investment, but it is in the housing market that you will really see your dollar go further, with houses of real beauty and luxury in splendid locations costing on average half of what you might expect to pay for similar in the United States. The cost of living in Costa Rica is reassuringly affordable, too. This may have something to do with the fact that the country long ago disbanded its military and puts every penny that would have gone into it towards social programs. As a result healthcare and public services are extremely good.

If you have the patience to live in a country that seems to be a lot more relaxed than most, yet doesn’t fall down on getting things done efficiently and effectively, and can speak Spanish (English is spoken here and spoken well, but it would be a shame to come to somewhere so welcoming and not assimilate at least a little), then Costa Rica is a place worth investing in. The work/life balance is pitched just about perfectly for anyone who likes to enjoy themselves but knows that this is only possible through earning the money to do it.

To streamline and minimize blog maintenance, I will be discontinuing maintaining the realestateexpedition.com website (however, I will still hold the domain). I will gradually move all articles from this site to A Dawn Journal. This article originally published on the above website on July 18, 2009.

The HSBC Main Building – A Landmark Of Modern Architecture

Hong Kong & Shanghai Bank (HSBC) Main Building

First Published Date : July 25, 2009

Anyone visiting Hong Kong will be unable to miss seeing the most expensive skyscraper in the territory and one of the most expensive in the world. Built while Hong Kong was still under the control of Britain, but during the normalisation period during which its return to Chinese control was assured, the headquarters of the Hong Kong and Shanghai Banking Corporation – HSBC for short – is a quite impressive building. Actually, that rather undersells it, as it is one of the most fascinating structures in Asia and the world beyond, for many reasons.

It became apparent that a building such as the HSBC Main Building would be necessary in the 1970s. After more than a century during which headquarters were built, knocked down, moved and rebuilt, in 1978 it was decided that the bank might as well tear down its headquarters which were, in any event, too small to hold all of its departments. People and sections were scattered in far-flung parts of Central Hong Kong and it was felt that a proper headquarters would be needed – one which could hold all departments and provide an element of streamlining to the city. It would take another seven years to have it built, and when it was completed it was the most expensive building in the world. Although it may have since been outstripped in this respect, it is still an impressive edifice.

The final cost of the building is believed to have been 5.2 billion Hong Kong dollars, close to US$670million. The architect who conceptualized the building was none other than the legendary British architect Sir Norman Foster, and it has many of his signature touches, not least its epic size but minimalist design. 30,000 tonnes of steel were used in its construction, and from the outside it is one of those classic skyscrapers that looks like a glass palace. There is good reason for this transparency, too.

The building may have taken place between 1979 and 1985, before ecological concerns became quite as big a consideration and quite as fashionable as they are now. It is, however, an excellent example of how one can build a skyscraper without excessive damage to the environment nor waste of energy. Due to the glass edifice of the exterior and the bank of giant mirrors which sits atop the atrium, much of the indoor lighting is provided naturally. The coolant for the air conditioning inside the building (which can be a godsend in a glass-based structure – is natural sea water.

There are many things which make the HSBC Main Building a building quite unlike any other. Not least of these is the fact that it relies very little on elevators inside the building, and people moving between floors tend to do so by way of escalators instead. This kind of personality makes the building one of considerable interest. Built with the principles of Feng Shui in mind, the building has a vast expanse of open ground in front of it, with only Statue Square separating it from Victoria Harbour, meaning that workers can look out onto water (in Feng Shui this is important for personal wealth. All in all, it is an interesting building indeed.

To streamline and minimize blog maintenance, I will be discontinuing maintaining the realestateexpedition.com website (however, I will still hold the domain). I will gradually move all articles from this site to A Dawn Journal. This article originally published on the above website on July 25, 2009.

Real Estate Property In Kuala Lumpur

Kuala Lumpur Real Estate

First Published Date: Aug 2, 2009

A city which has a thoroughly modern look but no sense of disconnection from its history is truly hard to find in the present day. It cannot be denied that although there are some marvellous holiday destinations in Asia as there are elsewhere in the world, there is a certain dearth of individuality and character in a lot of them. This is not an accusation that can be levelled at Kuala Lumpur, which is one of the most impressive cities on the continent and among the most worthwhile holiday destinations in the world. More and more people are visiting for a holiday and finding themselves drawn back – more than a few ending up living there.

There are numerous reasons why you might want to invest in Kuala Lumpur real estate property. One of these reasons is the rarely discussed, almost mythical idea of living in the property you have bought. Of course this may seem dreadfully conventional compared to buying and renting out, or buying and renovating to sell, but then it is important to take into account that it will allow you to live in one of the most captivating cities you’ll ever visit. If indeed you are simply interested in an investment property, the good news is that a well-turned out house in Kuala Lumpur beats anywhere else in Malaysia and most of Asia in general for resale value.

It may be that you just want to rent a place for long-stay holidays or business placements. In the city center and the immediate suburbs, you are likely to find that Kuala Lumpur is somewhat expensive for rental properties – but if the company is paying and you are not the one writing the checks at the end of it all, then you may as well enjoy yourself. By being close to the city center you will have a great deal of shopping and nightlife opportunities close by. If this doesn’t sound like fun then it is a better idea to find a spot further out. The nights are a good deal quieter and the rental properties an incredible saving.

Never just buy the first property you see for sale in Kuala Lumpur. The housing market there has a tendency to surprise you, and bargains can be had if you look hard enough.

It is worth being aware, however, of the Malaysian Government’s law on foreign ownership of real estate properties. These are somewhat long winded, but it will serve you well to know someone “on the ground” in Kuala Lumpur before you go. The government is currently extending visas for an initial period of five years to foreign citizens, renewable at the end of those five years as long as the visitor’s passport is still in order. These visas are multiple-entry, so you can treat Malaysia as a base from which to travel elsewhere. If trying to help get a business off the ground in a Malaysian base, it is a very worthwhile idea – check out “Malaysia My Second Home” on Google for fuller details.

To streamline and minimize blog maintenance, I will be discontinuing maintaining the realestateexpedition.com website (however, I will still hold the domain). I will gradually move all articles from this site to A Dawn Journal. This article originally published on the above website on Aug 2, 2009.

Welcome To Real Estate Expedition

Let The Real Estate Expedition Begin

First Published Date: April 27, 2009

Entering the world of real estate is something that comes with its own risks, unquestionably. There is no point in sugar-coating the obvious – in the midst of a global recession not everything will be as straightforward as it once was. But that is certainly not to say that there will not be rewards for the person who judiciously and intelligently goes about the business of investing in property. For some it is absolutely the time to invest, with prices lower than they have been for some time. Fortune favours the brave, as the old saying goes. The tricky part is judging what constitutes bravery and what is naivete.

This website is devoted to real estate, and everything that you have come to understand by that term – and more besides. For anyone looking to invest in real estate there are so many possibilities, with the risks and the rewards that come with opportunity. It is a sector that holds an almost mythical aspect in the minds of many people, with everybody knowing that there is money to be made, but that fortunes are sometimes lost in property – not to mention that it can be tricky to get started in the first place. Real estate is not a business that you can get up and running in without serious investment.

The title of this website, you will have noticed, is Real Estate Expedition. The word “expedition” tells you something about what the world of real estate is like. There is something of a voyage of discovery involved in making a foray into the business. Even if you make plans beforehand – and there is no question that it is advisable to plan fully and comprehensively – there will still be a steep learning curve, and that is something that we will hope to help you with. Tips, case studies and opinion pieces will all be a part of that.

The idea of an expedition also pays respect to the fact that you will meet with a wide and varied range of opportunities and questions. Real estate can be as insular as you like – if you are looking to buy a house in a different part of town there will be no less a process to follow. It can also be something that involves a very broad search and a big step into the unknown. It is becoming more and more common for people to buy properties in another country for holidays or even for the purpose of emigrating. We will cover those topics too.

Venturing into the real estate business can be extremely rewarding, as long as you take full account of the very real challenges it will present you with. Challenge is not something of which to be afraid, because it is in taking the challenges on and overcoming them that you really earn your money and your invaluable experience, something that will serve you well if you intend to make a career or even a lucrative sideline in the property business. Let us be your guides on a journey that could be the most interesting you ever make.

To streamline and minimize blog maintenance, I will be discontinuing maintaining the realestateexpedition.com website (however, I will still hold the domain). I will gradually move all articles from this site to A Dawn Journal. This article originally published on the above website on Apr 27, 2009.