Tuesday, May 27, 2008

japan property business

Japan's property markets
Building wealth

Jan 3rd 2008 | TOKYO
From The Economist print edition
Homes in Japan last for only 30 years. The government wants to change that

HOUSES in Japan are supposed to be built to withstand earthquakes. Even so, few of them defy demolition for more than a few decades. The housing stock is amazingly young: more than 60% of all Japanese homes were built after 1980 (see chart). That is because there is almost no market for old homes in Japan. New legislation to be put forward this month will try to remedy that.

The roots of Japan's unusual housing market go back centuries. Buildings were often razed by earthquakes or fire, so durable houses were rare. Earthquake insurance largely did not exist until the 1990s (and even today is little used).

In post-war Japan land has value but buildings do not. The law separates the ownership of the land and the structure, so the two are distinct in Japanese minds. After the war, the government sought to foster private home-ownership by offering tax incentives for new buildings. The policy was a great success. Arguably too great: by 1968 there were more homes than households to occupy them.

At the same time, tax burdens abound for selling land with old buildings. After around 30 years homes are demolished for new ones to spring up. Because the lifetime of houses is short, cheap construction materials are used and the buildings are not maintained. There is no tradition of do-it-yourself home upkeep. Just as there is little interest in secondhand furniture or clothes among the sanitation-obsessed Japanese, so too home-owners prefer to build anew rather than refurbish the old.

There is also a dearth of institutions and expertise that might oil the gears of a market in old houses, from surveyors to judge the quality of a property to banks that assess its value and provide a mortgage. As a result, where 89% of British homes have had more than one owner, and 78% of homes in America and 66% in France, only 13% of Japanese homes have ever been resold.

But attitudes today are changing. The constant rebuilding places an unnecessary drain on people's financial resources, says Koichi Teramoto of the Ministry of Land. A couple easing into retirement may demolish their house to sell the land in order to move into a smaller abode that they must then build from scratch. Although better-built homes cost more up front, they cost far less over time—as much as one-third less after a few generations, according to Mr Teramoto. The ministry also worries that the constant demolition is terrible for the environment.

The costs to the wider economy are also great. A home is more than a man's castle: it is typically his most important financial asset. Not in Japan. For most of the post-war period land prices soared, so the lack of a housing resale market was not a problem. But since the bursting of the property bubble in the early 1990s, most land prices have fallen: some are as much as 80% off their peak. That houses also depreciate in value constrains consumption and adds to deflationary pressures; which in turn pushes people to be particularly cautious savers (more than 50% of Japan's household wealth is kept as cash in bank accounts) and helps to keep interest rates barely above zero.

To remedy the problem, the prime minister, Yasuo Fukuda, this month plans to introduce new tax rules to encourage the construction of more durable buildings. Under a draft of the “200-year homes” policy, national, regional and municipal property taxes may be reduced by between 25% and 75% for up to seven years for houses that adhere to robust building standards. Mortgages for such homes can be longer (50 years as opposed to the traditional maximum of 35 years) and building approvals will be simpler.

Property experts think these measures are too timid, however. They argue that a true market for used homes needs standardised methods of construction, as well as more transparency about the quality and value of houses. Far more generous tax incentives are vital too. Until then, homes in Japan will continue to fare like the country's ubiquitous electronic gadgets: be treated as disposable.

property in usa

Property in USA currently comes in as number three in British buyers’ top property destinations, after France and Spain. This can largely be put down to the fact that, in accordance with its immense size, the USA boasts an abundance of opportunities for investors in search of all kinds of attractions, from beaches to ski resorts, or from exciting cities or theme parks to golf paradises.

A modern nation famed for the sheer scale and modern quality of just about any aspect of living, the USA is a popular destination for those seeking a part of the American Dream. Air connections to the USA are numerous and well priced, making for a viable foreign destination in which to purchase a second home or indeed invest in the USA’s booming tourist market.

Despite an apparent slowdown in the US real estate market compared to previous years, property purchased in popular locations such as Disney’s Orlando or rich and glitzy Las Vegas today can often fetch very healthy returns of around 30% per annum. Mini emerging markets and otherwise hidden investment opportunities centred in and around these areas also produce some excellent returns. Many luxury holiday homes are now helping to boost the ever increasing demand for tourist accommodation to serve the USA’s overwhelming and ever growing visitor numbers, currently topping 4 million per annum.

It is easy for foreigners to purchase property in USA, while a tried and tested, transparent system is in place, making property an enticing option, particularly as current Sterling and Euro rates are allowing investors to stretch to purchasing properties that would otherwise be beyond their reach.
Propertyshowrooms.com And Property in USA

Our clients will be receiving some encouraging returns from early purchase into condos in the USA and we are able to offer you expertly vetted condos at unbeatable prices.

As a solid political and economic arena, the USA continues to be a firm favourite with investors the world over, all looking to buy into an amazingly strong country with a wide array of attractions to tempt them back each year.

As the world’s largest economy, the USA offers giant-sized potential to clients looking for a solid economic climate in which to purchase their property. Despite economic losses during the Iraq and Afghanistan wars, and Republican losses in the mid-term elections, USA still has much to offer investors. A recent rise in interest rates has slowed down the market somewhat in certain locations, while many investors are regarding this state of affairs as an ideal opportunity in which to buy at reasonable prices. These purchasers are choosing carefully within the favourite, buzzing tourist locations where values are continuing to rise.

The American quality of life and wide variety in climate and lifestyle options continue to draw investors and holiday makers to buy USA property each year.

Thursday, May 22, 2008

business property 2008

Business Property
Meteor Park open for Business

Segro's new development on a prime site in Birmingham's industrial heartland is ready for occupation.

Meteor Park on Argyle Street, off Cuckoo Road in Aston, comprises four self-contained industrial/warehouse units which have been built on the former Delta Metals site. According to joint agent John Sambrooks at property adviser DTZ the location couldn't be better.

"One unit actually sits next to the M6, so Meteor Park is absolutely perfect for any occupier needing swift access to the motor-way network," he said.

"Adjacent to Junction 6 and just three miles from Birmingham city centre, this truly is a prime location. With rents from £5.95 sq ft, there is going to be a lot of interest in Meteor Park and one unit is currently under offer."

Suitable for B1, B2 and B8 Use Classes, the steel portal frame units are 22,235 sq ft, 37,042 sq ft, 58,609 sq ft and 115,607 sq ft respectively. Each has a ground floor reception, staff facilities and first floor offices. Outside, gated and fenced service yards benefit from monitored CCTV, external lighting plus designated lorry and car parking.
Jane Leedham, senior surveyor at Segro, said: "This is a major development for Segro, representing a substantial investment and further reinforcing our commitment to the region.

"It is particularly pleasing to turn around a formerly derelict site, which had lain dormant for several years and provide occupiers with brand new facilities."

Mike Price, partner at joint agents Knight Frank, also said: "Segro have completed this major redevelopment which provides state of the art industrial and distribution accommodation suitable for local and regional companies and multi-national corporations. Meteor Park is a fantastic addition to the Birmingham market."

Segro is one of Europe's leading providers of flexible business space with a growing presence in the Midlands, including south Birmingham's largest estate, Kings Norton Business Centre.

Tuesday, May 20, 2008

all about property

Where in the UK can you get the most for your money?

1) The cheapest area of the UK is the City of Kingston Upon Hull in East Yorkshire. Prices are an average of £79,500. It is mainly notable for its fishing industry and its many sports teams.

2) Next most affordable is Blaenau Gwent in South Wales, with prices averaging £86,500. Its main towns are Brynmawr, Ebbw Vale and Tredegar. It has many examples of its industrial heritage and some beautiful countryside.

3) Merthyr Tydfil’s average house price is just under £92, 000. Situated in Mid Glamorgan, Wales this former mining area has high levels of unemployment; however its claim to fame is that during an armed uprising in Merthyr, workers rallied under a red flag which was later adopted as the worldwide symbol of workers revolution.

4) Stoke on Trent’s properties cost an average of just over £92,000. Still the centre of the UK pottery industry, this town is also famous as the birth place of Robbie Williams.

5) At just under £97,500 comes Hartlepool. Located near Durham, this shipbuilding town is best know for it’s inhabitants having allegedly hung a monkey, believing it to be a Frenchman.

Where will you need to take out the biggest mortgage?

1) The most expensive place to buy property, with an average price of just under £352,000, is Windsor and Maidenhead in Berkshire. With famous residents such as The Queen and Elton John, good schools, great shopping, Legoland and easy access to London and Heathrow this is prime commuter belt.

2) The next priciest is Surrey, with an average price of £325,800. Usually described as ‘leafy’ it is also commuter belt and boasts good schools, a University and some lovely countryside.

3) The capital comes in third at just over £300,000. Greater London encompasses everything from Kensington and Chelsea (Average £827,000) to Barking & Dagenham (A mere £172,000).

4) At £297,000, Buckinghamshire with its lovely villages and countryside is also popular with commuters.

5) Wokingham in Berkshire has an average house price of around £285,000. Again its proximity to London, Reading and Bracknell make it popular for commuters.

House prices and rankings are based on the figures Q3 2005 published by The Land Registry.

Copyright: Jacqui O’Brien 2006

Trade Properties: Tips 1 - 5

Trade Properties: Tips 1 - 5


1. Get to know the family you will be exchanging with before committing. Communicate extensively via e-mail and telephone.

If you considering a long term property exchange, 6 months or more, you may want to invite the other family to visit for a few days.

2. Ask for references. You can e-mail the references but it is probably best to call.

3. To confirm authenticity, you may want to check that the information you receive is accurate. The Internet provides an easy and accessible medium for you to validate basic information. For example, you can easily verify a person's address.

Here's a list of some popular white pages:

* White Pages USA and Canada
* White Pages Australia
* UK White Pages
* White Pages Europe


You can also confirm that someone is really the owner of the property by contacting the city/county tax office. This information may also be available online.

4. Let your insurance company know. Your insurance company may have some specific requirements such as the need to see a copy of your guest's driver's license.

Your homeowner's policy likely covers accidental damage caused by guests. In some cases, your insurer may request an additional fee - especially if it is a long term exchange. It is best to check with your insurer about the specifics of your contract.

Many property exchanges include the use of a car, and your insurer will usually cover accidents. If your policy does not cover a third party using your automobile, you may be able to add this coverage. All policies are different and vary from state to state, province to province and country to country. Most policies are subject to some type of restriction and limits. If the damage resulting from an accident exceeds those caps then you may be responsible for the excess. There may also be legal costs to consider. If you are planning to exchange your car, it is best to call your insurer to discuss the details.

5. Try to meet the family you will be exchanging with. For example, you may want to welcome them and spend a few days together in your home before leaving to stay in theirs.

Part of what makes trading homes unique is the opportunity to build relationships that you may not normally establish with a conventional holiday.

You'll often hear home exchangers talk about how they've made some great friends via a home trading holiday or how they wished they had had an opportunity to meet the people they were swapping with.
Trade Properties: Tips 6 - 11


6. If you cannot meet, have a family member, friend, or neighbor pick them up at the airport. This provides for a local contact who they have already met in case something goes wrong.

7. Have the family member, friend, or neighbor drop by occasionally (once a week is acceptable) to see how your guests are getting along. This is yet another opportunity to make sure all is well. You can also arrange for friends to take them out one night.

8. Exchange your housekeeper, especially if this is a trusted person. This allows you to have someone visit the entire house and ensure that all is well. It also has the added benefit of finding your home in the same state of cleanliness that you are accustomed to.

9. If you're uncomfortable leaving fragile belongings out, place them in a closet or cabinet that you can lock. Frequent home exchangers have learned that a note on the cupboard that says something like Please don't use these glasses is usually good enough.

10. Use e-mail and the telephone to stay in touch while you are away.

11. If you really feel there is a need, you can draw up a contract detailing who covers damages. But keep in mind that it may not be worth the time/effort/money to chase someone in Australia for $300 if you are living in the US.

And don't forget, while they're staying in your house, you're staying in theirs. They likely have the same concerns about their home as you have about yours.

commercial property

commercial property

real estate that includes incomeproducing property, such as office buildings, restaurants, shopping centers, hotels, industrial parks, warehouses, and factories. Commercial property usually must be zoned for business purposes. It is possible to invest in commercial property directly, or through Real Estate Investment Trust or real estate limited partnership. Investors receive income from rents and capital appreciation if the property is sold at a profit. Investing in commercial property also entails large risks, such as nonpayment of rent by tenants or a decline in property values because of overbuilding or low demand.

all about property

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