Power Tools for International Real Estate Practitioners

The Egyptian resort town of Sharm el Sheikh has seen tremendous growth in recent years and has transformed itself into a tourist destination. "The Egyptian government...is so keen to encourage the sale of property to foreigners that in 2005 it changed the laws to make it easier, rescinding restrictions, for the Sinai, RedSea and Mediterranean coasts, that limited ownership to two properties and banned resale within five years of buying." Times Online author Karen Robinson offers some helpful advice to those interested in purchasing property in Egypt, such as making sure contracts are drafted in both Arabic and English and what you can expect to pay in lawyer fees and building taxes.

Posted on February 16 at 02:37 PM | Permanent Link | Add a Comment (0)

While $1 million may not get you much in New York it will get you a pretty decent place in Canada. According to the Canadian Real Estate Association home prices in Canada average $280,816 Canadian. However, the number of homes selling for $1 million or more is on the rise. Forbes reports that "the number of homes in Calgary, Alberta, costing $1 million Canadian increased 160.4% from third-quarter 2005 to third-quarter 2006. Greater Vancouver saw a 57.2% increase while Greater Toronto, Montreal and Victoria all saw the numbers of $1 million homes rise 20%." Legacy homes and luxury condos are among these multi-million dollar properties.

Posted on February 2 at 04:09 PM | Permanent Link | Add a Comment (0)

In India the Floor Space Index (FSI) "which limits the amount that can be built in a certain area" averages round 1.75. In a typical Western development, the cost of land averages around 15-20%. In India it is hovering around 50%. The combination of a low FSI and the high cost of land are contributing to a "space crunch." The Financial Express reports.

Posted on February 2 at 06:50 AM | Permanent Link | Add a Comment (0)