Ask anyone dealing with real estate these days and you will hear the term ‘feng-shui’ or ‘vastu’ (in India). Where technology has advanced so much, to partially support such beliefs it is not a surprise that be it people like us or associations of builders, we all look forward to it.

Build homes complementing the natural surroundings

Feng-shui also known as Geomancy is a branch of classical cosmology belonging to Chinese culture. This branch can be used during construction to build homes complementing the natural surroundings. As per the Chinese beliefs the way one decorates home and places certain elements can significantly make a difference with respect to the materialistic pursuits and spiritual environment of the inmates. Where Feng-shui is a years old practice and can be traced to the very roots of Chinese culture, it has recently emerged as one of the major factors held important for real estate. The practicality of Feng-shui makes it inevitable for builders to follow it.

Achieve a perfect harmony

Feng-shui follows simple rules like placement of furniture, usage of colors, placement of the five elements namely fire, water, earth, wood and metal etc. If it is or it is not a superstition it doesn’t matter much because as far as builders matter, it is indeed one tool that not only gives them an extra advantage but even extra profits. Literally, Feng-shui means wind and water and practically it can be seen as a theory to devise a balance between the yin and yang or the negative and the positive energies. Where it has an immense importance in China and decides on almost anything and everything, the concept has been taking over West with its practical wisdom especially as far as real estate is concerned. The basic considerations builders go through while dealing with Feng-shui too are general questions like-how the surroundings have an effect on the house, what makes one house better then the other or how one can balance the interiors with the exteriors to achieve a perfect harmony between the two. The growth of the practice may surprise you but it can also be seen as another dimension of interior designing. Thus, Feng-shui which is rightly the combination of practicality and spirituality is one of the major factors in real estate today, making a mark in the West and not only in Asia.

In the last few years, India has become a property investment hotspot with many large scale property developers either in the process of developing or planning developments. This real estate boom has not only lured dozens of consultancy and finance companies but also foreign investors and nationals. Fera (Foreign Exchange Regulation Act) has given way to Fema (Foreign Exchange Management Act) and things have improves and changed since then. What is being laid emphasis on now is the residential status.

PIO’s and NRI’s

As such there are two categories broadly; one belongs to Indian residents and the other to foreign residents. These foreign residents can be further be categorized as NRI’s and PIO’s. To define, where an NRI is an Indian citizen residing outside India, a PIO is a citizen of another country who is regarded so because at one or the other point of time, held an Indian passport at any time or if his father or grandfather has been a citizen of India.

Non Indian’s Need Approval

These facts are significant for foreign nationals while dealing with property in India. The law makes it very clear that a foreign citizen who is a resident of India can buy and sell properties in but a foreign citizen of non-Indian origin can acquire any immovable property in India only with the prior approval of the RBI (Reserve Bank of India). The NRI’s and PIO’s have a general permission to purchase real estate in India, nether there has been a limit fixed to the properties. However a foreign national of non-Indian origin can acquire with the consent of RBI but only residential accommodation on lease and that to for not more than five years. Thus, the foreign nationals need to document their citizenship before acquiring any land in India. Where it may seem that Fema makes it a little more difficult for foreign nationals of non-Indian origin to buy property in India, you shouldn’t forget that the government is encouraging the real estate boom in India!

Due to its centered geographic location and rich reserves, Dubai has achieved a centre stage among the other economies of the world. The western market has been using Dubai as a base for their operations in Eastern markets especially China and India. Its location being midway between Far East and Europe makes it a potential target of multi-national companies to conduct their operations all over the globe. Another advantage Dubai holds is of being a player in the economy of the Arabic world. It also offers conditions like full tax exemption on capital gains which uniquely serves to its economy and economic conditions.

Office rent up by 20%

Where the country offers a rich history, all modern conventions and an economic boom it has been dealing with inflation all through. Dubai attracts a big lot of tourists and firms, both on the temporary basis which has lead to high rents all through. Another reason why the situation has become so is because of the fact that even the real estate has undergone a boom in UAE. The demand has surpassed supply in lieu of business expansions making the office rents in Dubai rise up by about 20%.
Where this has given a boom to other economies like India due to their proximity to UAE, it seems Dubai is facing the two-edged sword. This also makes it a bit costlier for real estate developers or business firms and MNC’s targeting Dubai for expansions.

Rent cap

However, the new cap on rent increases in Dubai is aimed to have an impact on curbing the inflation however in a limited way. The shortage of housing has driven prices to sky-rocketing. Dubai has already initiated an annual rent cap of 5% from January 1. The decree states that pro-agreement a landlord won’t be able to increase the rents for the next two years to come. With a statistics body that UAE plans to come up with so as to keep a check on inflation, it seems rents will soon see a level.

With the pound still strong against the dollar (for the moment) - is now the time to get footloose in New York New York? Home to some of the largest and most influential companies, New York has been described as the business capital of the world. The city’s business friendly and cosmopolitan reputation continues to grow, as excellent transport links endorse its popularity with commuters and residents alike. Investors will be pleased to note that the city is also hugely popular with tourists – over 43.8 million visited the city in 2006 alone – a figure that continues to rise year on year. New York’s hugely diverse and creative society ensures a constant demand for new and modern property which is great news for investors looking to make a buck or two in the long term.

Despite New York’s potential, US markets are far from stable and, as Bloomberg reports, over the last few years the US property market has experienced a considerable slow down, resulting in the lowest house prices in a long time. The US Government’s dramatic slash of interest rates means that it is currently cheap to borrow in the US and with the pound holding out over the US dollar at present, UK investors can get much more for their money and are able to buy in the more sought after areas.

For many, buying into the US is not likely to herald fantastic short term benefits; however there could be some excellent deals for hard negotiators investing for the long term. Investors will need to think fast, as the London stock markets dropped for two days in a row at the beginning of this week, and many commentators are suggesting the UK’s economy may also take a tumble this year. With reports screaming recession, there may only be a short gap for investors with an appetite for risk. One thing is for sure - it is important to do your research.

When you’re buying abroad, especially through a company that’s unfamiliar to you or where there are language difficulties involved, legal issues can get complicated. But a recently launched website can now help quell legality issues and ease the worry for people buying property in Turkey.

Is My House Legal allows buyers to check whether a new property development has legal paperwork, planning permission, a building license and is problem-free, before they sign on the dotted line and commit to buy. The checks are carried out by the International Law Partnership, so you can be sure you are obtaining credible information.

The website maintains information on developments that have already been checked as well as some helpful background information about legal issues in the country. You can click on any of the already checked developments and see the information provided by the seller and then the information obtained by the International Law Partnership

The site currently covers Turkey, but there are plans to extend the service to over 30 countries, including Bulgaria, France, Spain, Slovakia and Russia. The information obtained is really useful for buyers, but it shouldn’t be used as an alternative to independent legal advice. If you’re seeking extra peace of mind that the development you’re interested in is above aboard, then this site looks like it will prove to be a useful resource.

Finland’s snowy Lapland landscapes are drawing in the tourists – and the property investors too.

It may be best associated as being the legendary home of Santa Claus, but Lapland
also has many other worthy characteristics. The number of tourists visiting the area, especially Brits, has increased over the last few years and now stands at over four million per year. In the winter, it’s possible to ski for six months of the year in Finland, and offers more guaranteed and longer lasting ski conditions than some other European resorts.

Winter 2007 saw the opening of the first cable car and the Finnish government have outlined plans to invest heavily in the tourist industry. As far as property goes, property experts say the rental yields are currently about 6% to 7% and prices are predicted to rise by up to 300% in the next 10 years.

But that’s not all. For those choosing to buy offplan, there are other benefits to be had, if you keep your eyes open and check the small print before you sign. Some companies, for example, place the deposit from the buyer into the hands of the government. So if things don’t go to plan and the work on the development stops, or the buyer decides they don’t want to purchase the property after all, they are able to easily get their deposit back (minus a small administration fee).

Lapland is a good bet for buy-to-let properties, as there are already good attractions –skiing, adventure sports and the pre-Christmas Lapland experience holidays – that draw in the tourists.

Record migration and a mining boom in the resources-rich state of Western Australia has led to unprecedented demand for property, with many home-buyers and investors choosing to protect themselves against skyrocketing prices by buying off plan in new developments.

Traditionally, Australians have preferred to see the finished product before opening their chequebooks, but a housing shortage has led to an increase in the number of off plan purchases, with buyers reassured by the certainty of having somewhere to call home. But property developers are also cashing in, some reporting that their entire allocation of apartments is selling off the plan in just days.

The first stage of the Claremont Residences, part of global construction company Multiplex’s revamp of an old shopping centre site, sold out within two days. The development is scheduled for completion in 2009. Another Multiplex property, The Esplanade Nedlands, sold out in even less time, with 37 apartments selling off plan in one and a half days, at an average $2.6 million (AUD). The Capital Square development, a joint venture between Saville Australia  and Babcock and Brown has reportedly taken $300 million in off plan sales to date, as part of a wider trend where apartments in Western Australia are starting to cost as much as homes.

The Australian Bureau of Statistics  reports Western Australia is leading the nation in population growth, at a rate of 2.3 per cent, largely driven by overseas migrant and workers attracted by large-scale mining and infrastructure projects. It took nearly 100 years after settlement for Western Australia to reach the half million population mark, yet projections show the state’s population could grow by that much again in the next decade.
These pressures on the market are producing higher values, with the latest figures from the Real Estate Institute of Western Australia  showing some parts of the state have experienced up to a 24 per cent increase in property values in the last 12 months. Investors make up a quarter of property purchasers in the state.

Housing construction data shows that despite an upturn in the number of new constructions, the state is still experiencing huge demand for new construction and land release.

A small living space right in the middle of the city’s hustle and bustle may not seem like everyone’s dream come true. For many Canadians, however, owning a condominium equals an urban paradise that’s tough to beat. As cities like Cal-gary, Vancouver, and Toronto grow, Canadians are finding, more often than not, that having a condo to call their own is a convenient and affordable way to buy into the real estate market. A decade ago, young Calgarians combed the suburbs to find their first home. Communities out of the city core were bigger, cheaper, newer, and quieter than their urban counterparts. The only sacrifice was a moderate commute to work. By the end of 2007, however, those moderate commutes had transformed into hour (or more) long treks each way, every day. The drive can be so long that buyers are now taking into account their monthly fuel bill along with their mortgage pay-ments before they commit to purchasing a home. The dozen or so communities Calgary has added to its outskirts over the last ten years are so far from down-town that many Calgarians have been searching for a more practical housing al-ternative. Enter the condominium. It’s central. It’s low-maintenance. It’s affordable. In 2007, Calgarians paid an average of $156,000 less  for a condo than they did for a single-family home, not to mention the savings in travel and main-tenance costs. Residents of Vancouver  followed suit, with multi-family homes (such as condos) accounting for nearly 60% of residential purchases last November. Further east, in Toronto (http://www.remaxcondosplus.com/report-display.php?id=88&report_date=1199250000), realtors struggle to find listings to show clients interested in purchasing a condo; most decent properties are snapped up the moment they become available. To a buyer, average Canadian house prices are rising so fast that the negatives of owning a condominium often seem inconsequential. Yes, condos can be smaller and noisier than single-family dwellings. Yes, they are often less private, with little to no outdoor space. However, the benefits of owning a condo - namely, affordability and ease of ownership - far outweigh its drawbacks in the eyes of many Canadians. With skyrocketing prices and sparse availability in cit-ies, many Canadians are waving goodbye to visions of a yard and a white picket fence, and are only too happy to find a condo to call home.

In line with providing the most extravagant and unique promotions during the Dubai Shopping Festival (DSF), DAMAC Properties – the luxury lifestyle provider and the region’s leading private sector master developer – today unveiled the largest and the most exclusive promotion worth AED 90 million during DSF 2008.

The promotion comprises a mega raffle prize with a private Island worth AED 1 million and a grand raffle prize with a brand new ECLIPSE 500 Private Jet worth AED 5.5 million. Every property bought during DSF entitles the customer a chance to win either the private Island or a Jet plane. The property developer also announces a Bentley or BMW with every apartment brought during DSF 2008.

Speaking at the Press Conference to announce DAMAC’s DSF promotion, Hussain Sajwani, Chairman of DAMAC Properties, said: “With mega entertainment events and exciting offers, DSF 2008 is celebrating its 13th edition and we are privileged to be a prominent ‘’support sponsor” for an event which has grown bigger and exciting each year. Last year it was just a Jet plane, this year we have added a private Island at the beautiful and serene Caribbean Sea. The Pelican Caye Island is the one of the few private islands on the Turneffe Atoll and is perfect for a personal estate.”

“Over and above that, every customer gets a Luxury car. A Bentley Continental comes free with every Signature Duplex and Penthouse, a BMW 1 series with a studio, or one bedroom apartment or office /retail unit and a BMW 3 series with a 2 bedroom apartment or above, added Hussain Sajwani.

Speaking on the occasion, Peter Riddoch, CEO, DAMAC Properties, said, “According to reports the event expects to attract around 3.5 m visitors this year. This festive season which runs from Jan 24th to Feb 24th gives us the opportunity to reinforce our commitment to our esteemed customers and creates a perfect forum for us to build awareness and increase sales.

Ibrahim Saleh, Chief Operating Officer, of DSF Organising Committee, said, “DSF promotions are designed to make each consumer feel special and provide them with a truly rewarding experience where each one of them gets a chance to participate and emerge as a winner. With the current property boom in the region and with these unique promotions designed by luxury developers like DAMAC Properties, we are positive about the festival attracting and getting recognition at a global level”.

The Pelican Caye Island is within a 5 minute boat ride of the privately owned airstrip on Blackbird Caye and lies one mile south of Turneffe Flats resort. The combination of world class resort, fishing and excellent scuba diving opportunities, literally within walking distance of this island, makes Pelican Caye one of the most unique opportunities in the Caribbean.

Over 110 nationalities have brought properties in DAMAC Properties and effective support services are provided by the property developer. The company’s comprehensive customer care program provides solutions through its vast regional network with offices in the UK (London, Manchester), Ireland, UAE, Iran, Russia, Italy, Jordan, Saudi Arabia, Lebanon, Egypt and Qatar.

DAMAC Properties won two prestigious awards at the recent CNBC Arabian Property Awards 2007 - for the top property developer received the ‘Best High Rise Development’ award for ‘La Residence at the Lotus’ and the ‘Best Website’ award for the company’s revamped website – www.damacproperties.com. DAMAC’s La Residence at the Lotus in Business Bay Dubai has won the Best International High Rise Development Award that was held at Las Vegas recently.

Football fans who watched the BCS national championship game this month must have wondered how New Orleans is doing these days, more than two years after Hurricane Katrina. There is good news on many fronts. The historic and cultural attractions that have long been a magnet for tourism are as busy as ever. And it appears that the city offers some great opportunities, especially in real estate. Many of the lovely old neighborhoods have made a remarkable comeback. The Downtown District continues to be the lively heart of the city; many older buildings have been converted into luxurious condominiums. The French Quarter, with its mixture of Spanish, French and American architectural styles, continues to attract people with fine restaurants and eclectic shopping. In the Garden District, known for its beautiful Victorian cottages and ante-bellum mansions, home buyers can find historic homes that have been converted to condominiums.

The city has a rich and diverse history, starting in 1718 when the French governor of Louisiana established it at a curve in the Mississippi River. Commerce on the river and easy access to the heart of the nation’s interior made the city’s port and wharves along the riverfront a dominant commercial and cultural feature, handling commodities like corn, wheat, petroleum products and coffee.

Early twentieth century technology (levees, drainage ditches and pumps) allowed the city to expand into newly drained marshlands. It also alleviated threats from alligators, mosquitoes and other “swamp creatures,” and reportedly solved the city’s sanitary problems. Engineers devised a system to filter river water at a cost of $25 million which assured the city a source of pure drinking water. These forays into modernization encouraged civic leaders to apply to the United States Congress to host the 1915 World’s Panama Exposition (sadly for the Crescent City, San Francisco took the honors).

During the latter half of the twentieth century, preservationists worked to restore the French Quarter to its past glory, and additions to the city’s infrastructure brought several hugely popular events to town, including the Super Bowl, presidential conventions and even the World’s Fair. In addition, the city has long been known for its festivals and celebrations, especially Mardi Gras and the New Orleans Jazz and Heritage Festival. In short, it was a highly desirable destination for tourists and business people alike.

Hurricane Katrina was not the first storm to damage New Orleans, but nothing in its recent past matched the blow delivered by Katrina in August 2005. In the immediate aftermath, the city’s mayor, Ray Nagin, reported that 80 percent of the city was under water, in some places as deep as 20 feet. Within days of the storm’s end, however, conversation among locals started to focus on ideas for rebuilding New Orleans, making the Crescent City more vibrant and culturally alive than ever.

Four sectors support the local economy: shipping and shipbuilding, oil and gas, tourism, and a biomedical industry that continues to feel the effects of Katrina. The city’s unique characteristics (its location at the mouth of the Mississippi River, its port facilities, and its festivals and tourist attractions) are powerful economic engines. Developers, including Donald Trump, are considering high-rise condo projects downtown. Homebuilders are planning new neighborhoods featuring regional and historic architecture. The Port of New Orleans has agreed to open up several miles of riverfront, and community organizers are in the early stages of planning to transform the city’s riverfront into a continuous green space featuring a series of parks and recreational opportunities. New Orleanians love their town, and they are well on the path to creating an internationally prominent waterfront and a reinvented Crescent.