Tag Archives: green
Is Tokyo the New Miami?
Is Tokyo the New Miami? By Michael Gerrity | May 16, 2013 What does Tokyo have in common with the Miami and Dubai property markets? A tidal wave of foreign property investment is flooding the market due to currency exchange rate fluctuations. Over the last several years Miami’s white-hot property market has been the beneficiary of both a flight of capital from Venezuela, due to the policies of late President Hugo Chavez, and Brazil’s surging real against the U.S. dollar. Similarly, the collapse last year of Iran’s rial, which fell as much as 40 percent in a single week in September 2012, sparked a significant flight of capital by wealthy Iranian families into Dubai condos. Now Japan’s new Prime Minister, Shinzo Abe, has moved to spark inflation by devaluing the yen, which has led to a torrent of foreign property investment into Tokyo and other parts of Japan. Investment in Japan property rose to $10.6 billion in the first quarter of 2013, up 32 percent year from a year ago and 38 percent from the previous quarter, Jones Lang LaSalle reports. Japan is the “one [market] to watch,” said Stuart Crow, head of Asia Pacific capital markets at Jones Lang LaSalle. As reported in the New York Times yesterday, Japan’s economy is growing at 3.5 percent annualized rate. This is a real sign that the Japanese Prime Minister’s “Abenomics” policies are gaining real traction in the marketplace. One of the things I’ve learned in my 25-year career in global real estate–“flights of capital,” either due to financial arbitrage opportunities between two currencies, or as safe harbors from unfavorable domestic policies, are a much larger influencer of property markets in many parts of the world than local demand. And that’s what is happening in Japan. The bottom line is efficient use of money drives property markets much more than consumer needs. Continue reading
International Interest May Squeeze Out Local Buyers in UK
MAY 20, 2013 BY ALLISON HALLIDAY Property investment expert Rick Otton is warning that increased levels of international institutional investment in the UK property market, in particular from the US could make it even harder for buyers to get onto the property ladder. An upturn in US business confidence has led to increased investments in the UK property market, with more than £100 million coming from institutional investors in the US since the start of this year. Rick Otton is warning that this increased investment combined with a rising market means UK residents may find it even harder to buy their own home. He said “This is yet another example of how buyers, and first time buyers in particular, are being squeezed out of the market. The very thing which makes the UK market attractive to investors is the same thing which makes it harder for people to buy homes. The UK already has a shortage of affordable housing, with millions of people struggling to achieve the dream of homeownership through traditional lenders-the banks. Now that they are up against US international investors as well, it’s clear that alternative real estate investment strategies need to be used if they are to get a foot in the door.” The UK is proving attractive to institutional investors from the US due to the growing momentum in the housing market. Some of this momentum can be attributed to new household formation which is growing at nearly 3 times the speed of additional housing. Mr Otton went on to say “The number of people in the UK who own their own home has been going backwards, with 200,000 less homeowners now than four years ago. We know that it’s hard for people to get into the market, and these figures show that it’s hard to stay in the market. With increased competition from institutional investors making scarce property less affordable, it’s going to be even harder for people to borrow from traditional banks. This is where my alternative strategies will help people get into, and stay in, the market.” Rick Otton’s real estate investment strategies shows people how to get onto the property market without having any existing property equity, a bank mortgage, and a deposit or stamp duty. Those interested in gaining an insight into his techniques can download his Power Property Profits Pack which is available free from his website . Continue reading
China ‘Will Not Accept’ Carbon Tax On EU Flights: Report
Sunday, 19.05.2013, 11:58 ©AFP China will not pay for CO2 emissions by its airlines on flights within Europe, a top civil aviation official reportedly said after the European Commission warned eight Chinese firms face fines for nonpayment. The world’s second largest economy “will not accept any unilateral and compulsory market measures”, Yan Mingchi, deputy director-general of the legal and regulation department at the Civil Aviation Administration of China, told an aviation forum in Beijing Friday, the China Daily newspaper reported. He said “airlines in developing countries should be provided with financial and technological support in their efforts at coping with the effects of climate change”. The European Commission said Friday eight Chinese and two Indian airlines face fines totalling 2.4 million euros ($3.1 million) for not paying for their greenhouse gas emissions on flights within the bloc. It said member states could fine the firms, including Chinese flag carrier Air China, under the terms of the EU’s Emissions Trading System, which is designed to cut the carbon dioxide pollution blamed for global warming. In a highly controversial move last year, the EU added airlines to the ETS regime, sparking howls of protest from the United States and China, which said the move breached international law. The EC said almost all airlines had fully complied with their ETS obligations, which were consistent with international law and conventions. However it said eight Chinese carriers, including China Airlines, China Eastern and China Southern, alongside Air India and India’s Jet Airways were at fault. The eight Chinese airlines were liable for fines of some 2.4 million euros combined while the two Indian groups owed much less, at 30,000 euros. For more information see: http://en.tengrinews.kz/markets/China-will-not-accept-carbon-tax-on-EU-flights-report–19481/ Use of the Tengrinews English materials must be accompanied by a hyperlink to en.Tengrinews.kz Continue reading
