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Commercial Real Estate in Japan Commercial Real Estate in Japan Author: Wantanee Khamkongkaew Japan is an island destination, situated in East Asia, in the Pacific Ocean. Bounded by the Pacific Ocean to the north, the Sea of Japan to the west, and the Philippine Sea to the south, Japan is the second largest economy in the world.
Japan is a developed nation, boasting of well-organized society and excellent infrastructure facilities. Apart from scores of tourist attractions, Japan boasts of a great number of high-rise buildings, multinational companies, business firms, and leading financial institutions. Perhaps for these reasons, commercial real estate in Japan is booming.
Commercial property market in Japan is considered the largest in the world, after the US. Japanese commercial real estate includes office space, executive suit, commercial land, industrial property, and retail space. Investing in a commercial property in Japan is regarded as a great way to diversify your portfolio as well as to build wealth and enjoy tax benefits. Further, Japanese commercial real estate is considered an excellent long term investment, yielding huge returns and profits.
The commercial real estate prices in many of the areas in Japan have record prices. For instance, a piece of commercial property in Ginza shopping district of Tokyo cost around 26 million yen per square meter. Likewise, commercial real estate prices are skyrocketing in such areas as Niseko, an enchanting ski resort in the northern part of the Hokkaido Island, Nagoya, situated along the Tokaido Shinkansen road between Osaka and Tokyo, and Osaka, at the basin of the Yodo River on Osaka Bay.
Anyone can purchase or acquire a commercial land or property in Japan. But, only appropriate visa holders can invest in real estate in Japan. It would be even better if one has a permanent visa. Likewise, it is quite difficult for a foreigner to obtain mortgage through a Japanese bank in order to invest in a real estate in Japan.
For the foreigners to apply for loan, it is mandatory to have at least permanent residency status and collateral in the country. A Japanese mortgage is considered a great way to finance for your commercial property. The interest rates are exceptionally low, and majority of the financial institutions provide a mortgage in yen.
Among the steps involved in the buying process of a real estate in Japan are ensuring that you have sufficient finance to buy property, making offer to the vendor, signing contracts written in Japanese which is translated in English, if required, and opening of a trust account. Additionally, the commercial property purchase transaction include expenses in the form of stamp duty, registration and license tax, property acquisition tax, and fixed assets tax.
A plethora of real estate firms, realtors, and property builders are now available to help you in locating a commercial property according to your budget and requirements, no matter it is industrial property, office buildings, or retail spaces. Many of the real estate firms have a section exclusively to cater to services with regard to commercial real estate. Some of them even provide the service of an expert lawyer to verify the authenticity of documents.
Mostly, these firms render a continuum of services in connection with commercial real estate, such as, helping you in locating a commercial land or property that goes with your requirements as well as effectively dealing with the procedures involved in the sale or purchase of a property. Apart from these, there are certain real estate firms providing the service of solicitors, who in turn offer services such as checking of the content written in the contract, ensure that the commercial property is unencumbered, trust fund services, and independent objective advice. In some instances, these firms offer services such as asset management, office leasing, and finding a suitable tenant.
But, it is important to make a thorough research with regard to the professionalism of a real estate firm, before approaching them. It is also vital to check the fee they charge, as some firms may charge huge fee in the form of hidden fee.
Next, analyze the way they render the service. The internet is perhaps the most suitable option to find an appropriate real estate firm in Japan. Many of the realtors have their own websites, with details of commercial property available for sale as well as lease. One can also lean on sources such as online directories, yellow pages, and reviews to find a competent realtor for your commercial real estate needs. Article Source: http://www.articlesbase.com/real-estate-articles/commercial-real-estate-in-japan-288572.html About the Author: Wantanee Khamkongkaew is an independent author evaluating and commenting on leading International Property Consultants in Asia and Greater China, especially CB Richard Ellis.  real, estate, hong, kong, china, condo, condominium, property, management, land, japan, asia, research, Apartment
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Foreign Ownership Rule for Land and Property in Thailand Foreign Ownership Rule for Land and Property in Thailand Author: Wantanee Khamkongkaew Purchasing a land or property in Thailand is regarded as a great option for investment as well as for residence and retirement purposes. Due to its infancy and strong potential for a profitable future, Thai land and property is becoming popular and attract all categories of property buyers.
Further, since the tourism sector in the country has grown from an established position into an even more productive economy, Thailand, acknowledged as 'the Spain of the East' provides superb opportunities for property investment. Above all, Thailand boasts of some excellent land or property development and that too for astonishingly cheap prices.
No wonder why many expats including Americans and Europeans invest in Thai property such as villas, condos, and other housing options. But, investing in a Thai property is based on your requirements, location ie whether near supermarket or beach, and lifestyle, ie, whether you prefer a Thai or a mixed neighborhood.
For retired foreigners seeking tranquility and solace, a best option would be to invest in property located in destinations like Koh Samui, Chiang Mai, and Phuket. If you want to have an easy accessibility to almost all facilities, then it would be better to invest in cities including Bangkok, al though prices would be exceptionally high compared to other parts of the country.
However, certain restrictions have been imposed on foreign investors in order to own a land or property in the country. In other words, the property law in Thailand does not allow foreigners or non Thais to have a freehold land in the country. But, there are certain exceptions in the law with regard to this issue. Al though a foreigner cannot purchase land or property in his own name, he has been given some alternatives to acquire a property in Thailand according to the Section 86 of the Thai Land Law, which are as follows:
Buying a property through Thai spouse - Thai property law allows a foreigner with a Thai spouse to invest in a property or land in the country. But, the land or property must be registered under the name of the Thai. It is also important for the foreigner to specify that the funds used for the purchase of a property are of a Thai spouse. However, this option may sometimes become a problem in a divorce case, since a foreigner may find difficult to prove that it was a marital property.
Buying a property in the name of a Thai company - As per the property law, a non Thai can own a property in Thailand through a Thai company, provided 51% of the company's share is Thai and 49% is foreign.
Buying a property through Investment (BOI) - A foreigner can acquire a limited amount of land or property with considerable investment of fund. Under the Thai Property Law, a non Thai citizen investing 40 million baht for not less than five years can purchase up to 1500 square meters of land and that too for only residential property. But, a prior permission should be obtained from the Ministry of Interiors. Likewise, this option cannot be availed by foreigners who are looking to invest in his second house or retirement homes.
Structure Ownership - In this case, a foreigner may be granted a Right of Superficies by a Thai spouse or a Thai company. This in turn provides foreigners to have rights over all kinds of constructions on the land. The Right of Superficies usually last for a period of ten years with options to renew it again for 30 years, if required.
Leasing - This is perhaps the least complicated option for a foreigner to acquire a property or land in Thailand. Mostly, the land is leased to a non Thai for a period of 30 years, which can be again renewed for a period of 30 years. Leasing a land in Thailand is quite simple and does not require much maintenance.
Despite these options, it is important to make a thorough analysis of title deeds prior to investing in Thai property. Title deeds usually include three main types such as Chanot (Nor Sor 4), the Nor Sor 3 Gor, and the Nor Sor 3.
But, there is not any restriction for a foreigner to own or purchase a condominium in the country except for that he should bring in the whole money for buying a condominium in foreign currencies. Further, a foreigner could own only up to 49% of units of a condominium block.
With a myriad of real estate agents and property builders in the scenario, it is not at all a chaotic process to own a land or property in Thailand. Majority of them provide assistance to deal with complicated Thai law for acquiring a property in the country. Some of them even provide legal advice and conduct investigation and consultation in order to acquire a property. There are also firms providing management, project planning, and development in connection with a property. Article Source: http://www.articlesbase.com/real-estate-articles/foreign-ownership-rule-for-land-and-property-in-thailand-288573.html About the Author: Wantanee K. is an independent author evaluating and commenting on leading International Property Consultants in Thailand, especially CB Richard Ellis. real, estate, Thailand, Phuket, Pattaya, condo, condominium, Bangkok, property, villa, management, office, CBRE
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Foreign Ownership Rules for Condos in Bangkok Foreign Ownership Rules for Condos in Bangkok Author: Wantanee Khamkongkaew Owning a condominium, or, condo unit, is regarded as the easiest as well as the most practical way for foreigners to acquire a property in Bangkok. In other words, condo is perhaps the biggest and most favored investment option for foreigners who prefer to stay in Bangkok.
Purchasing a condo in Bangkok is comparatively cheap in contrast to other Asian cities such as Singapore, Hong Kong, and Shanghai. When it costs billions of dollars for a typical condominium unit in cities like Hong Kong and Singapore, you can easily own a condominium complete with luxurious bedrooms and facilities such as swimming pool, for just around $700,000.
However, condominium investment in Bangkok is mostly based on the spot where it is located as well as the convenient transportation. For instance, condominium complexes located in such posh areas as central business district (CBD), BTS, and MRT stations are much sought after.
Since they can considerably cut down the transportation cost and can eliminate the chaos of traveling to and fro your work place, condos located close to Skytrain and subway routes are also of great demand. Likewise, condominium units near strategic shopping areas including Sathorn, Silom, Sukhumvit areas, and Rama III areas are also much preferred by the foreigners.
Depending upon the buyers' taste, budget, and choice of location, condominium units in Bangkok come in a myriad of options such as small studios, three-bedroom complexes, and penthouses. Majority of the condo property found in the city's areas like Sathorn and Sukhumvit, and vary in size between 55 to 60 sqm and 75 to 80 sqm. For investors seeking luxurious condominiums, then a myriad of high-end choices are available in the form of three-bedroom units, ranging in size between 100 sqm to 120 sqm and 140 sqm to 200 sqm.
When comes to prices, the cost of a condo unit in prime areas such as Silom and Sukhumvit are about Bt100, 000 per square meter. Investing in these strategic locations have high resale value, and can also fetch you good income in the form of rent. The prices are even higher for condominiums located in areas including Soi Langsuan and Wireless, Rajdamri or Sathorn roads, which is up to about Bt200, 000 per square meter. The demand for condominium is at its peak now in the capital city. Nowadays, many investors, both foreigners and locals, purchase condos in Bangkok pre-build.
According to certain records, foreign investors have been accounted for about 15% of all condo units bought and sold last year in Bangkok. Factors such as low rates on mortgages, excess liquidity in the financial and banking system and tremendous boom in stock market have led many foreigners to invest in condominiums in Bangkok.
Above all, the laws pertaining to owning a condominium is quite simple and liberal when compared to other Asian cities. In other words, a condominium or condo is the only type of property that can be legally purchased by a foreigner in Thailand. The only restriction for a foreigner to purchase a condo is that a foreigner can normally acquire up to, but not exceeding 49% of a condo property.
However, in order to qualify for condominium ownership or buy a condo unit in Thailand, it is mandatory for the foreigners to meet any of the five criteria put forward by the Condominium Act B.E 2535 (1992) such as:
- To possess a residence permit
- A foreigner with the permit to stay in Thailand according to the Investment Promotion Law
- Foreigner who is able to bring in the entire money for purchasing the condominium unit in the country in foreign currency
- Foreign juristic entity with BOI privileges in the country
- Foreign juristic person possessing some land right as per stated in the Land Code
In addition, there are certain requirements for purchasing a condominium in Thailand, such as, the foreigner must have a bank account in the country and a copy of the foreigners' passport showing an immigration stamp that he or she is in the country at the time of the purchase of a condominium.
Mostly, foreigners own a condominium unit in the city by bringing in 100% of funds for the purchase of condo unit in foreign currency. Further, it is necessary that funds that have been used for the purchase of condominium are correctly recorded on a Foreign Exchange Transaction Form, which is a bank account issued by the bank on receiving foreign currency into your bank account in the country. It is also important to state in the Foreign Exchange Transaction Form that the remittance has been solely made for the purchase of a condominium in Thailand.
A plethora of property builders and realtors are in the scenario to find you a condominium unit that goes with your requirements. Today, many of them have their own sites on the web, inclusive detailed description on property, digital photos of the property, detailed floor plan, and a location map. This in turn allows you to easily select a condominium according to your taste and pocket. Article Source: http://www.articlesbase.com/real-estate-articles/foreign-ownership-rules-for-condos-in-bangkok-288567.html About the Author: Wantanee K. is an independent author evaluating and commenting on leading International Property Consultants in Thailand, especially CB Richard Ellis. real, estate, Thailand, Phuket, Pattaya, condo, condominium, Bangkok, property, villa, management, office, CBRE
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Hong Kong Real Estate as an Investment Hong Kong Real Estate as an Investment Author: Wantanee Khamkongkaew With more than 250 islands, Hong Kong is an incredible destination, located at the south eastern tip of China. Covering an area of 1104 square kilometers, it is a special administrative region of the People's Republic of China.
Once described as a 'desolate rock' area, the city has now been transformed into a great financial, trading and business centre. Indeed, it is an international city, with an amazing mix of the cultures and sophistication from both east and west. Many reputable international companies functions with Hong Kong as the base for carrying out their core business activities.
In recent years, the city has also gained much popularity as an educational center, the evidence for which is hundreds of foreigners including Europeans and Canadians studying in many of the reputable educational institutions here. In addition, the place is a hot tourist destination with an incomparable array of attractions such as soaring towers, artistic edifices, interesting museums, beautiful parks and gardens, ancient shrines, and much more. Above all, the destination enjoys a great deal of autonomy except in the case of defense and foreign affairs.
Probably for these causes, many people from across the globe are now getting attracted to invest in real estate here. Real estate in Hong Kong is regarded as one of the priciest in the world. For instance, the Peak - a much favored residential area in the city, located between Victoria Peak and Mount Gough - is one of the most expensive areas in the world.
Likewise, many of the posh destinations in the area claim to have record prices. According to some recent publications, the property price in the city has rose to more than $ 3500 per sq ft or more than $ 300 per sq mt. It is estimated that even a small house or apartment in the dull areas of the city costs more than two million Hong Kong dollars.
Nowadays, people prefer to invest here due to a myriad of reasons. Some people may invest in residential real estate including house, condo, penthouse, and villa, in order rent it out. By way of renting out the property, it can fetch you a minimum of at least HK$ 100,000 per year.
However, when you consider Hong Kong real estate for renting purpose and that too to the region's expatriate community, it is important that you invest in some of the most exclusive areas of the city. On contrary, if you are planning to invest in property here in order to sell it out after some times, then you should go for such a real estate within the area that has strong potential for developments. There are some people who consider real estate investment as a means to enhance their business activities.
One of the obvious benefits of investing in property here is accessibility to one of the world's leading trade market. Since no specific restrictions are imposed to buy a property in the Hong Kong, it benefits many foreigners to invest here. Further, the laws and regulation involved in the purchase of real estate here is quite liberal. Above all, investing in real estate can undoubtedly fetch you huge profits.
Since the city is a former British colony, its property law is structured on the basis of English law. Every process in connection with acquiring of a property in the place is governed by Conveyancing and Ordinance. This in turn has attracted many European real estate investors. A specialty of Hong Kong Property Law is that all of the property found here belongs to government, ie, all real estate in Hong Kong is held under leasehold title. Hence, those who are interested in property investment buy an agreement or a lease for a period ranging from 50 to 999 years.
A real estate or property in the city can be either solely owned by one person or through jointly by several investors. However, joint investment may be usually in the form of tenant or a joint tenancy. Further, a property can also be owned through a company structure. But, in case, if a company would like to conduct its business through the purchase of a property on lease, then it should be registered with the Hong Kong Companies Registry. In addition, every type of lease should be listed at the Hong Kong' Land Registry.
A plethora of real estate firms have now come forward to find and acquire your dream property in the city. Some of them even provide the services of professional lawyers to help you in carrying out buying procedures, including listing on the Hong Kong Companies Registry and negotiation of purchase. Additionally, there are also real estate firms providing steps to arrange mortgages for the purchase of property. Article Source: http://www.articlesbase.com/real-estate-articles/hong-kong-real-estate-as-an-investment-288565.html About the Author: Wantanee Khamkongkaew is an independent author evaluating and commenting on leading International Property Consultants in Asia and Greater China, especially CB Richard Ellis. real, estate, hong, kong, china, condo, condominium, property, management, land, asian, asia, research, Apartment
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Condominium Boom in Hong Kong Condominium Boom in Hong Kong Author: Wantanee Khamkongkaew A special administrative region of China, Hong Kong is an exotic destination, with more than 250 islands. Once a British Colony, Hong Kong became a part of China in 1997. Apart from a hot tourist center, Hong Kong is also regarded as a great business center, and is sometimes referred to as the 'Gateway to the booming economy of China.'
Further, in contrast to other Asian destinations, Hong Kong has a very low crime rate, and hence considered a safe place to live in. Since a former British colony, a strong influence of westernized culture is prevalent here. Al though, majority of Hong Kong's population is made up of Chinese, the city also include people from other nations including Australia, the UK, Canada, Japan, and Korea. Probably for this reason, real estate market in Hong Kong is booming.
Whether you are a permanent resident or a tourist to the city, Hong Kong boasts of a continuum of accommodation options, according to your taste, lifestyle, and budget. Hotels, resorts, condotels, and villas would be some of the best accommodation for people touring Hong Kong for a short period.
For long stays as well as permanent settlements, some of the much favored accommodation choices are single detached homes, flats, apartments, and townhouses. Along with these accommodation choices, condominiums or condo units are also considered a great housing option in Hong Kong.
A condominium living is quite different from other residential choices including owning or renting an apartment, villa, or a single dwelling space. When you decide to stay in a condominium it means that you have made up your mind to live with a group of other condominium owners.
Depending upon your tastes and preferences, a variety of condo units are available in Hong Kong, from low budget condominiums to high end luxury condominium complexes. Different types of condominiums available here include apartment model condo units and townhouse, which is mostly attached with garage and yard space. Hong Kong condominiums are also sometimes available in the form of single detached buildings.
Condominiums units in Hong Kong are mostly replete with expansive living rooms, superb bedrooms coupled with relaxed beds, sophisticated kitchen, and bath area. No matter it is small or big, luxury or ordinary, condominium units in Hong Kong mostly come with such amenities as cable television, heating and air conditioning facilities, provision for hot and cold water, balcony providing excellent views, and professional services.
Luxury units usually include high-end common facilities such as laundry facilities, game rooms, whirlpool spas and saunas, swimming pools, meeting rooms, parking areas, round the clock on-site security system, intercom security system, on-site office for property management, solarium with areas for gatherings and social activities, specialized areas for outdoor recreational activities, salons with expert massage therapist, parking areas, and on-site workshop.
Owning a condominium in Hong Kong offers a myriad of benefits. One of the great benefits of living in condo units is that it enables you to reside in a well-controlled community. Security is another key benefit of living in Hong Kong, as many of the condominiums are attached with top-end monitoring system. Benefits of living in condominium also include low interior as well as exterior maintenance costs and access to such facilities as elevators and swimming pools.
Mostly, people staying in condominium complexes have common lifestyle and preferences, which in turn allow you to lead a comfortable life. For instance, there are condominium units especially designed and constructed for people like retirees and single people. Above all, purchasing a condominium unit in Hong Kong is considered a great long term investment, guaranteeing excellent returns. However, the price of condominium units is exceptionally high in contrast to other accommodations options such as apartments and single houses.
However, it is important to consider certain important matters prior to purchasing a condominium in Hong Kong. The rules and regulations pertaining to condo units vary from condominiums to condominiums. In certain cases, the condominium association or group put forward some kind of restrictions to own pets or to use a particular facility. Hence, such matters must be checked for. Purchasing or renting a condo unit in Hong Kong is no longer a tedious process. A myriad of real estate companies and property builders are there in order to help you find a condo unit that suits your requirements. Article Source: http://www.articlesbase.com/real-estate-articles/condominium-boom-in-hong-kong-288564.html About the Author: Wantanee Khamkongkaew is an independent author evaluating and commenting on leading International Property Consultants in Asia and Greater China, especially CB Richard Ellis. real, estate, hong, kong, china, condo, condominium, property, management, land, asian, asia, research, Apartment |
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