Why Are Global Real Estate Investors Flocking To BRIC Countries?

Bric Real Estate

First Published Date: June 06, 2011

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 6,, 2011

The BRIC (Brazil, Russia, India, and China) countries are the world’s largest emerging economies advancing into the next generation with fast and rapid growth momentum. These countries likely to overtake the US economy and would make up 22 percent of the global economy by 2015. However, the property markets in the BRIC countries are still within reach and expected to flourish in the next 10-15 years. The time may be just right for global real estate investors to make some money investing in these countries.

A recent The Knight Frank Global Cities Survey shows that BRIC cities will rise to the top of the list, pushing top western cities like Washington DC, Geneva, and San Francisco to the bottom. Some present-day world-class cities like Toronto and Vancouver fall out of the list entirely. New York and London remain on the top of the list; however, skyrocketed prices in these western cities will be beyond the reach of most investors.

The biggest winners to lead the upswing in global real estate market would be BRIC cities, especially Shanghai, Moscow, Mumbai, and Sao Paulo. Rapidly developing infrastructure to support industrialization, massive land area, abundant raw materials, and taking futuristic steps in the right direction are some of the reasons that would make accelerated growth possible in BRIC countries.

For example, Brazil is now at investment grade status, so investors will probably not be reluctant to pour money into its property market. China recently approved a property tax to tame its overheated real estate market.  These are some of the elements that show this is the time to realise the future potential of the BRIC real estate market. Global real estate investors are keeping watchful eyes on these BRIC cities, as property prices are still within reach and it makes sense to invest in these cities before prices start to skyrocket.

The share of BRIC countries in global GDP is rapidly rising, and so is its real estate market’s potential. As the entry barriers are easing, global real estate investors are slowly and surely moving into BRIC countries.

20 Questions to Ask Before Buying A Condo

Condo Buyer’s Checklist/Points to Consider When Buying A Condo

First Published Date: Nov 5, 2011

Condo living can be rewarding with minimal headaches. However, it is not for everyone. Today, I am going to present some questions that should be answered and looked at to help you before making any condo buying decisions.

1. Know why you want a condo and if condo living is for you.
2. When you live in a condo, there are rules and regulations you have to live by. Ask yourself if
   you will be fine with these rules and regulations and giving up some freedom when compared to
   living in a house.
3. Condo living is associated with paying ongoing fees (maintenance fees). Make sure you
   understand how these fees work and if you will be paying these every month.
4. Is the location right for you? Is it close to those amenities that are important for you?
5. What types of facilities or amenities is the condo giving you? Is it too much or too little?   
   Beware of condos that offer too much. For example, there are some condos in Toronto with
   their own bus services to the station. However, I won’t live there because maintenance fees
   will be too high for the obvious reasons.
6. Does it come with a parking space and a locker or you need to pay for them additionally?
7. Are there any restrictions on occupants? Will you be able to rent out your unit?
8. How many pets are allowed?
9. Is the condominium price reasonable?
10. Are the monthly condo fees (maintenance fees) reasonable?
11. What the condo fees cover and what the fees don’t cover.
12. How old is the building?
13. Who is the builder and is this builder a reputable company or have they had bad records or  
     problems in the past?
14. Is the building in good shape and durable? Does it look attractive?
15. Does the building and surrounding area look clean, neat, and well maintained?
16. Is the condo corporation in good order and are there no legal claims or judgements?
17. How are the condo finances? It is well managed or is the condo board is wasting money?
18. What is the owner-occupied and renter-occupied units proportion?
19. Is the building energy efficient and is a functional fire protection system in place?
20. Will this purchase make you happy living in your unit so you don’t need to look for another condo after 6 months? How many years you are looking to stay in this building?

How To Buy A Castle

Buying A Castle

First Published Date: August 13, 2016

We all heard of this – if you are a celebrity or a rich person and money is no matter to you, you probably have to have an island or a castle to vacation a few days every year. Castles may be the epitome of luxury, but the matter of the truth is, you don’t need to be rich beyond belief to actually buy a castle.

Sure, the more money you have in the bank the wider the choice. If you are a millionaire then that makes things a lot more straightforward. However, it is still possible to grab a castle for as little as $50,000 in some countries in Europe. And also, there are castles that could cost range from 1 million dollars to 50 million dollars. It all depends on what type of castle you would like to buy and how fat your wallet is.

Most castles that are in demand in the international real estate market are located throughout Europe. Some of the countries where the castle concentration is high are:

– Scotland
– France
– Italy
– Germany
– Czech Republic
Some of the countries listed below may offer castles at bargains:
– Croatia
– Bulgaria
– Hungary
– Poland
– Romania

There are many other things to take into account when buying a castle. If you buy at the bottom price, you may need to make arrangements for necessities such as water supply, electricity, and other accommodation essentials. If you pay more, you should expect something with better facilities and readiness for human habitation.

There are numerous global real estate agents that are specialized in buying and selling castles. Keep in mind the phrase caveat emptor – buyer beware.  Always make sure what type of castle you want, how large it should be, what you intend to do with it, and what your budget is before you contact a real estate agency. And never make any decisions before seeing a few castles at first.

NB – If you would like to find global real estate agents that deal with buying castles, search on Google for “buy castle”, “buying castle”, “buy cheap castles”, etc.

The World’s First Skyscraper

The First Skyscraper

First Published Date: Oct 16, 2010

Skyscrapers dominate cities these days but there was a time when no building, apart from a church, were higher than five floors at most. That has changed immensely and its origin can be traced back to one building in Chicago, which started the dawn of the skyscraper age. It was the Home Insurance Building and it has the honour of being the world’s first skyscraper.

Built in 1885 in Chicago, Illinois, the Home Insurance Building was the first building to use a structural steel frame, although it should be noted that the majority of the building was composed of cast and wrought iron, making it extremely heavy. That being said, it is the first tall building to be supported, inside and out, with a fireproof metal frame. There was a previous building to use this method, the Ditherington Flax Mill, but it was only five stories tall, while the Home Insurance Building was 10 stories tall. The building stood 138 feet, and it had two additional floors installed in 1890 to make it 12 stories tall. It was also the first building to carry both floors and external walls on its metal frame. The architect of this legendary skyscraper was William Le Baron Jenney, who was an engineer that saw the potential for the power of steel. The building was so revolutionary that many worried about its safety and its construction was halted so that city officials could inspect it to see if it would fall over. It was not long before this idea was copied over and over. In 1888, an architect in Minneapolis named Leroy Buffington was given a patent to build a skeletal-frame tall building, which he proposed as a 28-story stratosphere-scraper. It was mocked at the time but within a few decades, that patent was used to create the dominant building form of the 20th century.

While the building may have been revolutionary, it only lasted to 1931 when it was demolished to make way for the Field Building. Today, the Bank of America Building now occupies the site where the first skyscraper once stood and in its lobby it has a plaque that reads:

This section of the Field Building is erected on the site of the Home Insurance Building which structure, designed and built in eighteen hundred and eighty four by the late William Le Baron Jenney, was the first high building to utilize as the basic principle of its design the method known as skeleton construction and, being a primal influence in the acceptance of this principle was the true father of the skyscraper, 1932

This skyscraper is the first of what would be many. Without the Home Insurance Building, we would not have New York as we know it. There would be no Empire State Building, no Sears Tower and no large skyscrapers of any type. This one building literally changed the world for all of us over 100 years ago in Chicago.

Real Estate In Cyprus

Buying Property In Cyprus

First Published Date : March 25, 2016

Have you ever thought of living in Europe? Well, chances are you may have thought about it, but have you though about living in Cyprus? While many have not thought about moving to Cyprus, you really should. It is a beautiful and warm country where you can get homes for a very cheap price. So, what do you need to know about Cyprus?

Cyprus is an island in the Eastern Mediterranean, which is located south of Turkey and west of Lebanon. It is the third largest island in the Mediterranean Sea and it is a very popular place for tourists. It has a high-income and advanced economy and it routinely ranks very high in the Human Development Index. It is also a member of the European Union, as of May 2004.

The Republic of Cyprus covers the entire island and parts of the water but the republic is actually split into two parts. Roughly 59 per cent of the island is under the Republic of Cyprus, while the rest is called the Turkish Republic of Northern Cyprus, but this is only recognized by Turkey.

Cyprus has a very warm climate with mild winters and hot summers. Snow can fall in the mountains, but generally Cyprus has the warmest climate in the Mediterranean of all countries in the European Union. Many may feel that Cyprus is a country that is not developed but this is not the case as it is highly developed and highly safe. It is a very safe country with very little crime and houses and cars are often unlocked.

Thanks to the warm climate, there is a steady stream of people coming into the country who are seeking to live and work on the island, especially since the country became part of the European Union.

The tourism industry is very strong and that means there is a huge demand for seasonal workers in the area and many of those seasonal workers choose to live in the country all year round.

So, if you are thinking of living and maybe working in Cyprus, what do you need to know?

When you are thinking of moving to Cyprus, you can rest easy in that it is very easy to buy property within the country because it is a member of the European Union. The first thing you need to do is to find a real estate agent in the country who can help you find the property you are looking for. Once you have the property you are looking for, you need to finance the purchase. If a lender is required to do the purchase, you will typically have to come up with a 20 per cent deposit, while the bank will pay the rest of the loan for you. However, you can only get this if you have lived in Cyprus for at least the last five years. If you are a non-permanent resident, then you will have to have a 40 per cent deposit and the bank will cover the remaining 60 per cent for you. For investment and commercial properties, it is a 50/50 split.

Depending on the requirements of the lender, the time to pay back the loan is going to vary. The term can be as low as 10 years, and as high as 30 years.

If you are wondering about the places to live within Cyprus, here is a brief rundown of the regions to buy real estate in Cyprus:

1.    Famagusta District: This district contains the most important port in the country, also named Famagusta. There is a population of 37,738 people in the district and the district is currently under control of Turkey with the Cyprus government acting in exile. It is a very beautiful area with a coastal nature park and high points along the sea that individuals can go hiking to.

2.    Kryenia District: This is the smallest of the districts and the only one completely controlled by Turkey. The main town is Kyrenia.

3.    Larnaca District: This district is partly occupied by Turkey and its main city is Larnaca. The district has the most important airport in the country and it has a mosque that is very important to Muslims.

4.    Limassol District: The main town of this district is also named Limassol and part of the district is under the sovereignty of the United Kingdom.

5.    Nicosia District: The main town in this district is the capital city of Nicosia. Turkey occupies the northern part of the city and the district features some amazing scenery and nearly everything you need from a major urban centre.

6.    Paphos District: This district is in the western part of the country, occupied completely by Cyprus with four main cities being Paphos, Yeroskipou, Peyia and Polis Chrysochous. The district occupies 15 per cent of the island and has a population of 76,100. There are many beaches, tiny isles, capes, coves and hilly areas that are extremely beautiful.

Cyprus is a very beautiful island and country that is stable, safe, with a strong economy and beautiful scenery. It is warm, it has plenty to do and see and you are close to Europe if you want to go over for a visit. Since it is a member of the European Union, it is very easy to travel to and from the island to Europe. Many are now thinking of buying property within the country because it is such a beautiful place to be and the property is so cheap. As a foreigner, you do have to have more of a down payment when buying property within Cyprus, but you need to remember that if you decide to live in Cyprus for a long period of time, then in only a few years you can have a home with less of a down payment. Living in this country will ensure you will enjoy the winters and the summers, and feel you have made the right choice to live there.