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The same property developer is behind Springfield Mill, Nottingham, in the east Midlands. Once the home of lace production, it is now a four-storey apartment development with 105 units. Work is underway already with June 2008 the finish date. Again, an element of Jasper Conran design is as standard. Manor houses and hunting lodges prove popular candidates for more rural conversions. The Mulberry Green Collection, Essex, will feature seven apartments in a listed manor house, once gutted by fire but now set to be a luxurious set of homes starting at 299, 950.Work on this project is set to get under way this year. make money online

As the NHS continues a programme of selling off older sites, hospital conversions might also make future property investment opportunities. School conversions are also common. Victorian school buildings lend themselves well to homes with high ceilings and airy windows. Parts of Leicestershire and Nottinghamshire in the east Midlands are in the midst of an educational cash investment from the Government. The borough of Melton in the former and Bassetlaw in the latter are undergoing schemes that could see large school buildings up for grabs in the not-too-distant future. internet business opportunity

Although rare gems, conversion properties off-plan could become more common as developers seek to minimise costs in the current economic climate - and what better way to preserve the past while laying down a future property investment free money

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Comments (0) April 24, 2008 Dubai Escrow/Trust Law Promises Property Investors Peace of Mind

Filed under: dubai real estate Keith Peterson @ 12:16 am Dubai Marina @ Night Creative Commons License photo credit: s_zeimke The real estate boom in Dubai is by now a well-known phenomenon. This small Principality has become the commercial, financial, transportation, tourism and cultural dynamo of the Middle East. Investors in Dubai properties come from all over the world and Dubai has been transformed from a desert backwater, which at the turn of the 20^th Century relied upon fishing and goat-herding, into a world-class urban center. free online affiliate program

Legal reforms set the stage-foreign freehold property ownership

There is no doubt that encouraging this real estate explosion has been the policy of Dubai s government. Public policy decisions and legal reforms by Dubai s crown prince, Sheikh Mohammed Al Marktoum, have, in important respects, set the stage for the property boom in Dubai. In May 2002, a decree was issued allowing foreigners to buy and own freehold property in selected areas of the city. The government announced its intent to further liberalize the property ownership laws, stimulating foreign investment. In March 2006, Dubai s government issued a law permitting foreign ownership of properties in designated areas of Dubai. auction coin money paper

The need for reforms to protect off-plan investors in Dubai properties

The Dubai property market kettle may have overheated, however and the Emirate has become increasingly concerned about its international reputation as a safe place to invest. Many real estate sales in Dubai are off-plan sales, and there was real concern that investor s money - often that of foreign investors - might not be going where it was expected to go. Property investors had no guarantee that the installments they were remitting to the developer were being used to construct the particular development in which they were investing. There was also no assurance that a particular stage of construction would be reached before the next payment was due. A widely-publicized recent example of this unfortunate phenomenon was the Damac Properties Palm Springs fiasco that we have discussed on this blog. The time was ripe for the Dubai authorities to do something to win back the confidence of property investors and give them peace of mind. And they did. franchise business opportunity

Dubai s Escrow (Trust) Account Law promises to restore confidence in real estate

In an effort to bolster international confidence in the Dubai property market, Dubai instituted its Escrow (Trust) Account Law (Law No. 8 of 2007). This law enacts major changes in the manner in which real estate development is managed in Dubai. What have been called the freewheeling days of Dubai real estate seem to have come to an end with the institution of this law, which puts very strict controls on how developers can use money paid to them by off-plan property purchasers. best free online affiliate

The Escrow/Trust Law is administered by Dubai s land department (DLD) and an agency called the Real Estate Regulatory Authority (RERA), has been established by the department to regulate activities relating to Dubai real estate, including the Escrow law itself. Under this law, all funds received by property developers have to be administered through an escrow or trust account, opened with a financial institution which is approved by the DLD. The developers must be registered, and the registration process requires that the developer satisfies a number of conditions before it can even open the trust account and begin selling property. These include the filing of architectural plans and a financial statement in compliance with the law, among other things. blogging money thebillivard

The Dubai Escrow/Trust Law also has a provision that requires the developer to hold back five per cent of the total value of the trust account for one year in order to cover claims for defects arising from the construction of the project. best home based business

The law also provides for stiff fines and imprisonment for violations and provides for a developer s registration to be cancelled under a number of circumstances. affiliate marketing program

Needed reform or skunk at the garden party

So now everybody s happy, right Well, not quite. The new Escrow/Trust Law certainly could have the effect of throwing a fair amount of cold water on property development in Dubai. This isn t a bad thing, of course, if the real estate market is overheated and speculation-driven. But there is certainly concern that the stringency of this new law, and the expense of complying with it, will cut down the number of players who are able to afford to participate in this market. Some legal experts are predicting that the new law will present problems for property developers who usually release payments in stages to contractors. Often such payments come from the money received from purchasers. There are predictions that the restrictions imposed by the new law could cause delays in projects, particularly because the shortages of labor, expertise and materials in Dubai often permit contractors to drive hard bargains. money site thebillivard com

Nevertheless, the predominant view expressed in the Middle Eastern news media is that the Escrow Law is a badly needed reform that will solidify Dubai s place as a venue for international real estate investment. online business opportunity

Thailand s Escrow Law

Thailand is another country with an exciting real estate market has passed, but not yet implemented, an Escrow Law. The same concerns about protecting the investor and preserving the reputation of the country as a place for investment motivated the passage of Thailand s law and many of these same concerns about the effects of the new law are being raised there. Some lament that the increased costs imposed by Thailand s new law will seriously reduce the number of participants in that burgeoning real estate market. pay per click affiliate

All things considered, I see these laws as positive developments, however. It would seem that there is nothing more important to an emerging property market than its reputation for investment safety. These Escrow Laws may have some undesirable consequences, but they put first things first. It will be interesting to watch how things play out in both Dubai and Thailand. cnn money

Comments (0) April 23, 2008 Indian Real Estate Developers Resort to Freebies and Discounts to Woo Elusive Buyers

Filed under: real estate india Anjeeta Nayar @ 8:46 am Spaceship Infosys Creative Commons License photo credit: reidmix business opportunity lead

The global credit crunch and the subprime mess is finally beginning to have an impact on the Real Estate Industry in India, which until now has been experiencing an unprecedented boom due to the explosion of the pent up demand for housing in India. Easy availability of credit, along with the booming Indian economy and the stock exchange as well as the influx of overseas funds in recent times had led to a situation in which demand had easily outstripped supply, and this situation was further aggravated by the scarcity of developed land. In such a situation, developers ruled the roost and were able to command whatever prices they wanted, as there seemed to be ready buyers at every price band. This has led to sky-high seemingly unaffordable property prices in many areas of the country. affiliate program directory

In November 2007, Citibank sold an apartment in the posh NCPA building located in South Mumbai s Nariman Point area to a London-based non-resident Indian for a cool Rs.34 crore ($8.5 million) which works out to a rate of over Rs. 97, 000($2431) a sq foot. This deal had set the property market in South Mumbai on fire as developers subsequently pushed up prices of off plan luxury developments in South Mumbai to hold out for prices which ranged from Rs.40, 000($1002)- Rs one lakh ($2505)a square foot. making money program

Investor sentiment affected

At these rates, the property prices per square foot in South Mumbai are equal to if not higher than the prices in prime areas of New York City like the Upper East side, where new luxury developments like the Georgica and the Brompton are currently retailing at $1400-$1500 a square foot. However the scenario has changed somewhat in the past four months as the market sentiment has been badly affected following the massive drop in the Bombay Stock Exchange in January 2008. The Stock Market continues to be volatile until today and the pervading market sentiment has also affected the relatively insulated sector of ultra-luxury developments. Projects like Orbit Arya at the tony Nepeansea Road in South Mumbai where apartments are priced at Rs.62, 000($1531)per square foot have not recorded a single sale in recent months. work from home business

Liquidity Crunch

The Stock Market volatility has not only affected the sentiment but it also affected the availability of liquidity as well. It was this liquidity crunch in the market that led Dubai-based Indian development group Emaar MGF to withdraw its planned IPO in February 2008. The group had initially proposed to mop up Rs.6500 crores ($1.3 billion) with their issue at which shares were initially offered at Rs. 610-690 ($15-$17) but these prices were then twice revised down to Rs.530-630 ($13-$15). However the group then decided to cancel their IPO in order to wait for a time when investor confidence was restored in the market. Recent rumors in the market have indicated a further cash strain at the company as it was recently forced to roll over its short term borrowings from mutual funds. internet marketing affiliate

It is not only Emaar MGF which has been affected by these adverse market conditions but many small developers and medium builders who had hoped to mop up liquidity in a booming IPO market in order to pay for their expensive plots have now been forced to borrow funds from aggressive non banking finance companies at untenable high interest rates in order to remain viable, as banks have seemingly shut their doors to builders. Large developers like Omaxe and DLF who had managed to raise funds through successful IPO s in 2007 have deeper pockets and are relatively unaffected until today. money in the bank

Rise in the prices of materials

To further add to the developer s woes, the prices of steel and cement have also increased greatly during the last year. This has led to a huge increase in cost of construction, as a result of which developers in cities like Pune have decided to increase the per-square foot charge for residential properties by between Rs.50 ($1.25) and Rs 400($10.0251) from the end of April in order to cope with the increased costs of materials and the heavy taxation that has been imposed on them by the Pune Municipal Corporation. internet home business

The Promoters and Builders Association of Pune (PBAP) has also appealed to the Central Government to intervene and curb the rises in prices of cement and steel. The developers feel that the high prices of these commodities have given them no choice but to increase the price of their properties. However they also fear that at such high prices soon, nobody will want to buy a flat in Pune, as there is a growing resentment amongst the middle class and this will lead to a slump in the real estate sector. This sentiment has been echoed in a recent report conducted by the Macquire Research that predicts that cities like Gurgaon, Noida and Pune prices in the coming here are expected to fall by 5-15% as these markets are overheated and supply has outstripped demand. credit card affiliate program

Builders trying to drum up sales with freebies

In the suburbs of Mumbai medium sized developers like Mantri, Lok, and Nahar have started offering discounts and sweeteners ranging from stamp duty relief, free modular kitchens, free interiors free top of the line laptops and free parking to attract reticent buyers to their already launched projects. This scenario is also been replicated in Delhi and in Bangalore as well. In Bangalore, the marketing arm of the Magnolia group called Orange Properties has for the last six months been offering fantastic discounts to attract buyers. unclaimed money

Some of their recent offers promised a Maruti SX4 car free with every 1500 sq ft booked at one of their projects located in Bannerghatta in Bangalore. These apartments are priced at approximately Rs.42 Lakhs ($105, 000) and a Maruti SX4 retails currently for 6-8 lakh ($15000-$20, 000) so the offer represents a substantial discount. The group had also previously offered an Audio A4 worth 30 lakhs ($75000) to every buyer of a villa at their Magnolia Brooksville project and a F kg of gold for buyers of flats at their Hinduja Lake Front Estate project. mlm business opportunity

Real estate analysts believe that these discounts are just the first step towards a more visible price correction, so if you have been feeling priced out of the Indian real estate market and you have a fairly long investment horizon, you might want to keep an eye on the developments in the Indian Real Estate sector for the next few months which may offer you the chance to buy a property at a discounted price in a premier city. ppc affiliate program

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