Foxtons office-come-art gallery

A proud supporter of art and culture, Foxtons is delighted to have enjoyed the opportunity to showcase the works of London-based artist Christopher Farrell for over a decade now, originally commissioning him in 2002 to produce a series of unique paintings for each of our company's 44 innovative and distinctive offices across London and Surrey.

Farrell seeks to capture and process the constant evolution of the city with beautiful skylines, which can also be seen to signify Foxtons growing expansion throughout the capital. His work was chosen due to its London centric appeal, as well as its boldness - the use of large canvases, combined with big gestures and daring colour, all complementing the open cafй-style environment. Like our offices, his artwork has an unmistakable 'curb appeal', which made us stand out on the high streets of London.

Farrell will also be the focus of a new solo exhibition, ComplexCity at gallery@oxo in the Oxo Tower Wharf, his first public exhibition in seven years. The event, focusing on a modern interpretation of London through the exploration of painting, drawing and digital painting, will take place between 25th-29th September 2013 from 11am-6pm, so why not pop along.

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Why home-ownership causes unemployment

A strong correlation between high home-ownership levels and high unemployment rates is shown in a recent study co-authored by David Blanchflower and Andrew Oswald.

Using unemployment and home-ownership statistics from 1900 to 2010 for the states of the USA except Alaska and Hawaii along with data gathered from millions of randomly sampled Americans, the study found that rises in home-ownership in a state are followed by substantial increases in the unemployment rate after a lag of up to five years.

"It suggests that a doubling of home-ownership in a state would be associated in the steady state with more than a doubling of the unemployment rate," says the paper.

For example, the study shows that the five states that had the highest increase in home ownership (an average of +23% in Alabama, Georgia, Mississippi, South Carolina and West Virginia) since 1950 had a rise in the unemployment rate of 6.3% between 1950 and 2010. In contrast, the five states that had the lowest home ownership increase 1950-2000, saw unemployment rise just 3.5% over the 60 years from 1950-2010.

The study also found that high home-ownership leads to people staying put and commuting further and further to jobs, in turn creating cost and congestion for firms and other workers. It also precipitates zoning restrictions and other NIMBY (not in my back yard) activities where home owners block new businesses. It fosters ossification of mobility and reduces dynamism in the economy.

"We have been collecting data for decades now and it is appropriate to go public on the results," said Oswald:  "We find that a high rate of home-ownership slowly decimates the labour market. The USA makes a valuable 'laboratory' in which to study this issue, because the different states have a language, currency, and culture in common."

The authors say that while "the data used in this paper are almost wholly from the United States... our conclusions may have wider implications." They believe their ideas apply equally well to Europe where countries like Spain and Greece which have high home-ownership (80%+) also have high unemployment (20%+) and countries like Switzerland, Germany and Austria which have low home-ownership have correspondingly also low unemployment rates.

The release of the Blanchflower and Oswald study coincides with the release of a similar work in Finland, done independently by Jani-Petri Laamanen at the University of Tampere, which draws the same conclusions.

Countries which pursue policies to promote more home-ownership may unintentionally be adding to their unemployment problem. Providing incentives for investing in affordable rental property seems a good way to address the problem.

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UK and Ireland fuel tourism growth in Lanzarote

Lanzarote is a unique tourist destination, boasting surreal volcanic landscapes and breathtaking beaches.  Along with the other six Spanish owned islands in the Canaries chain it forms an archipelago that is sometimes referred to as the European Caribbean - as here sun starved holidaymakers from countries such as the UK and Germany can enjoy a beach break at any time of the year.  A factor that also makes the island a hot favourite with overseas investors, as owners of holiday villas and apartments on Lanzarote are able to enjoy a full twelve month rental season too.

The proximity of the Canaries to key markets such as the UK (which is just a four hour flight away), along with the ready availability of cheap flights from budget airlines such as Ryanair and easyJet makes Lanzarote both accessible and affordable to today's traveller.  And despite the recession in Europe the islandґs tourist industry has remained relatively buoyant as a result, with passenger arrivals pushing the 2 million mark in 2012 and further growth expected this year.

The UK is the key tourist market for Lanzarote, with British visitors accounting for around 45% of all passenger arrivals.  Now, thanks to the growing pace of recovery in Britain, consumers there are finding that they have more disposable income to spend on holidays abroad and this is translating itself into an increase in UK arrivals - with the number of tourist passengers climbing by 9% during September 2013 alone. 

The resurgence of the Irish market is even more impressive, as Eire is still undergoing painful economic corrections as their austerity programme continues to bite.  Yet despite this the number of holidaymakers visiting Lanzarote from the Republic has soared again in 2013 - up by 21% (source Frontur Canarias) across the first nine months of this year.

Property prices on the island have fallen since the onset of the crisis and are now close to their 2002 levels, with the average price per square metre now standing at Ђ1218.00 (source ISTAC, Canarian Institute of Statistics).  This is some way below price levels in other comparable sun spots such as the Balearics, yet rental yields are much higher thanks to the year round season,  making Lanzarote an attractive proposition for investors struggling to find returns on their capital from more traditional savings and investment options. 

Mortgages are also cheap in Spain, as the European Central Bank has recently dropped the Eurozone interest rate too just 0.25% in order to stimulate growth.  As a result we are now seeing an increase in demand for good quality rental properties amongst both traditional markets such as the UK as well as newer groups of investors, such as the Russians.

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Spain's buy-to-let market attracts distressed property investors

Foreign and domestic property investors are bulk-buying foreclosed homes in Spain, to rent out. On average, repossessed residential properties in Spain's major urban centres can be had at 71.6% below original value, according to Fitch Ratings.

Last year, legislation was passed making investing in rental properties more enticing. Under the new law, rental rates have been de-linked from inflation and may now be increased by the landlord more frequently. The new law also reduces the duration of leases, as well as the waiting time for evicting non-paying tenants.

Foreign owners renting out their property to working people under 30 years of age can even, under the new law, claim tax relief ranging from 60% to 100% on the rental income.

In contrast, tax breaks for individual home buyers have been set aside. Ordinary citizens, suffering from a shrinking disposable income and the credit squeeze,  are now finding it harder to enter the property ladder, leading to expectations that demand will dramatically rise for rental homes in coming years.

Spain's two-year old recession has ended. The country saw 0.1% growth in the third quarter, according to the National Statistics Institute. 

Major property investors like Blackstone Group and Goldman Sachs focus on mass purchases of foreclosed properties, particularly apartments that are already occupied, in Madrid and other urban centres where housing demand is high and tenants can generally afford to pay rent.

In July, Blackstone Group bought 18 apartment buildings from the city government of Madrid for 125.5 million euros ($173 million). In August, Goldman Sachs and Azora Capital bought 32 social-housing developments from the regional government. 

Madrid is offering another foreclosed property portfolio with 1,458 housing units and 1,588 garages in and around the capital. The minimum asking price is 67.2 million euros (US$90.25 million). Blackstone Group and Goldman Sachs are reportedly bidding. 

Sareb, the state's bad bank, must sell soured real estate assets worth 1.5 billion euros (US$2.0 billion) this year. To date, it has already disposed of properties worth 1.2 billion euros (US$1.6 billion). It is reportedly putting another package on the market which includes land ready for construction in the Madrid area worth 350 million euros ($477 million). 

Most bulk buyers bid on foreclosed homes sight unseen, especially when there is stiff competition from other investors. In Spain, this can lead to costly consequences. Spain has a big and growing problem of squatters. It can take three years to evict them, often entailing messy court battles. Meantime, the investor cannot resell or rent out the property.

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UAE Central Bank caps mortgage lending

The UAE Central Bank is limiting mortgage lending to prevent a repeat of the 2008 property market collapse.

The rules impose new mortgage restrictions on the 23 national banks and 28 foreign banking units in the country:
For homes worth more than Dh5 million (US$1.36 million), loans for first-time buyer expatriates should not exceed 65% of the property's value, while loans for Emiratis will be capped at 70%.
For second and subsequent property purchases, loans for expatriates should not exceed 60% of a property's value regardless of cost, while loans for Emiratis will be limited to 65%.
For off-plan property, the maximum loanable amount is 50% of the property's value regardless of purpose, value or nationality. 
The maximum mortgage period shall be 25 years and the maximum age at the time of the last repayment is 65 for expatriates and 70 for Emiratis. 
The total monthly repayments should not exceed 50% of a customer's monthly income regardless of nationality. 
The total loanable amount should not exceed seven years' annual income in the case of an expatriate and eight years' annual income for an Emirati.
The imposition of mortgage lending caps has been precipitated by the continued rise in home prices notwithstanding the doubling of the transaction tax from 2% to 4% by the Dubai Land Department recently.

Industry observers however note that the new mortgage restrictions may slow entry to the housing market by end-users but not investors or speculators, who mostly buy with cash. A study by consultancy firm Jones Lang LaSalle (JLLS) found that about 80% of Dubai home buyers now pay in cash. 

Dubai's safe haven status along with its world-class facilities and its strategic location make it a destination of choice for large-scale overseas real estate buyers. 

According to Dubai Land Department, this year Indians have already bought properties worth over Dh8 billion (US$2.18 billion), British nationals bought Dh4 billion (US$1.09 billion) while Pakistanis have invested more than Dh3 billion (US$0.82 billion). Funds are also flowing in from Central Asia, Russia and China. 

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Foreign investors hit by anti-speculation measures in Malaysia's 2014 budget

Malaysia's booming property market is expected to slow, once new taxes in the 2014 budget take effect next year.

Beginning January 1, real property gains tax (RPGT) will double from the current 15% rate. For disposals within the first three years, the new RPGT will be 30%. 

For citizens, RPGT will be 20% for disposal in the 4th year, 15% for disposal in the 5th year.  No tax is levied on disposals after the 5th year. For non-citizens and business firms, RPGT will be 30% within a 5-year holding period, and 5% in any subsequent year. 

The minimum price of property that can be purchased by foreigners will increase from RM 500,000 (US$157,282) to RM 1,000,000 (US$314,564).

Property developers and financial institutions will be banned from using the Developer Interest Bearing Scheme (DIBS), whereby the developer absorbs the home loan interest of the buyer during the period of construction of the property. Projects with DIBS features are favoured by investors who flip properties as soon as construction is completed.

These changes should not discourage long-haul investors, or end-users. Prices in Malaysia remain much cheaper than in Singapore or Hong Kong.. And unlike those two countries, Malaysia will not impose any additional stamp duty.

The sale, purchase and rental of residential properties will be exempted from the 6% goods and sales tax (GST) that takes effect on April 1, 2015. However, there is no similar exemption for the sale and purchase of goods and services used in residential construction.

Meanwhile, the government is upping spending on housing projects for low- and middle-income earners.

RM 578 million (US$181.82 million) is allocated for 16,473 new residential units to be built by the National Housing Department (NHD) under the People's Housing Programme (PHP). Another RM 146 million (US$45.93 million) is earmarked for construction of 600 new units for rent by NHD. Houses under the PHP are priced at between RM 30,000 (UD$9,436) and RM 35,000 (US$11,009) per unit in the peninsula, and RM 40,500 (US$12,739) per unit in Sabah and Sarawak.  And RM 1 billion (US$314.56 million) will be earmarked for 80,000 more housing units under the 1 Malaysia's People Housing Programme (PR1MA), priced 20% below market price.

The government is also introducing a new Private Affordable Ownership Housing Scheme, "MyHome," with RM 300 million (US$94.37 million) given to developers building low- and medium-cost houses, with a RM 30,000 (US$9,436) subsidy per unit. 

The budget also provides for the creation of a National Housing Council, a one-stop agency that will be responsible for overall planning, policy and strategy formulation, coordination and monitoring of issues and developments affecting the country's housing sector. Its members will be drawn from federal agencies, state governments, the NHD, PR1MA, SPNB and the private sector. 

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European University: Fulfilling great expectations with tailor-made MBAs

Globalization and digitalisation have undoubtedly changed the business world in the last 10 years. For business schools the implication was that the curricula had to be updated and the educational offering had to be adapted to suit the demands of potential students and their respective employers and industries. The most obvious change has been the rapid internationalisation of MBA programs. Most business schools now offer semesters abroad, operated by themselves or by partner universities. The internet combined with its derivatives have forced business schools to actively restructure their curricula. However, the biggest development in business education during the last years has been the offering of MBAs with a specialisation - may it be a subject-related specialisation (e.g. taxes) or an industry focus (e.g. the leisure and tourism industry).

According to the Graduate Management Admission Council (GMAC), which administers the Graduate Management Admission Test (GMAT), in 2010 nearly 70 percent of the examinees indicated that they intended to focus on a particular area while doing their MBA. This is quite contrary to the MBAs of the past 40 years, which were based on the idea of giving middle and senior managers the possibility to re-attend university and upgrade their business administration knowledge, as well as simultaneously extending their professional network. Proof of this is shown in the fact that the past average age for doing an MBA in the US was above 30, while now it is below. Although you will still find some institutions where this is the case, in general the MBA world has changed drastically; just think of flattened hierarchies and the partial extinction of middle management. Consequently, our  MBA expectations have also changed.

Maybe the most dramatic change is that a standard MBA is becoming more and more outdated. Today's business world is seeking managers that possess a fundament of general business administration knowledge, but on top of that, have a series of qualities that make them special, which in turn makes their contribution to the company even bigger. This also applies to the modern entrepreneur; a set of core competencies is necessary to make the difference.

It is also necessary to understand that in today's business world the probability of the sanctuary of staying with one company, department or even business model after graduating from college is rather low. So you must make good use of the knowledge you attain while doing your MBA. What can be better than tailoring your MBA to what you consider to be important for your future success. On a final note, if you think that you have chosen the wrong approach, no need to worry. Education is never bad for you and most probably, in order to stay competitive in the long run, you will have to go back for more education anyway.

Whether you like it or not, when facing the cruel reality of the business world you must consider yourself a product and service. Corresponding to the increasingly demanding business world, the only way to guarantee a successful career is to continually improve this product and service through life-long learning. So this article is on how to approach the big question "What type of business education do I need in order to achieve this?"

The first step to solving this question is to apply the analytic tools we use in the business world to oneself with utmost scrutiny. I personally suggest a simple SWOT analysis to start with.

So find your favourite thinking spot, settle down with a pen and paper, take a deep breath and start with your strengths. Obviously that should be the easiest. If you have problems with this don't panic. For some it is more difficult to carve out their strengths than for others. My suggestion to overcome this is not to be too harsh analysing yourself, but rather, try to scrutinise others. 

Take a look at their weaknesses and it should be a lot easier to discover your strengths. Now when it comes to your weaknesses, things might get difficult. We tend to lock these away in our cellars and have problems being objective.  Once again don't panic if you can't find any weaknesses, or you reveal too many. For the former, there is always room for development, and if your not sure about that, I suggest a great book The No-A**hole Rule by Stanford Professor Robert Sutton. For the latter, those with the perception of having too many weaknesses, this will book will also help you. 

When it comes to opportunities, this can be overwhelming - you might feel there are too many and suffer from the same dilemma as Buridan's donkey. Placed at equal distance between two haystacks, the donkey starved because he could not decide which haystack he should go to. Or, you might have the feeling that all seats are taken, or that there are no seats at all in this desert we are in. Please do not give up - usually the next day or the following week the restaurant in the oasis will have a seat for you to dine, or someone will have the great idea of opening a restaurant with a spectacular view over the desert that attracts endless amounts of guests. By the way, you might want to reserve your table now, before it's too late. 

When it comes to the threats, there are many you can think of, but again, please don't revert to the panic station. I remember my first SWOT analysis in the early 90s and asking myself if nuclear war was a threat to the business case I had to solve. Yes, there are certain external events which we cannot foresee, but no, you should not fall into the panic mode that the media tries to put us in so that we buy their products - even today bad news always sells better than good news. You should consider threats as challenges that you will be ready to deal with in the future. After finishing your SWOT analysis, I highly suggest a reality check. Go through the heroic effort of showing a highly-trustworthy person your SWOT analysis. Yes, I know it's a real tough call, but it is your future success at stake, so you might just want to go through it as a safety measure.

Having reached this point, you should be able to assess your personal status quo and think about the educational strategy you will choose. Most probably you will now be confronted with the following questions: "Should I focus on expanding my strengths, or reducing my weaknesses; go after the opportunities, or prepare for future threats; or maybe all at the same time?" No easy decision to make. On the other hand, if it makes you feel better, current research has proven that, generally speaking, nobody is bad at maths, they just had a bad maths teacher. If you look at the amount of literature available on 'how to be creative' and 'how to be an entrepreneur' you should not worry. So again, no call for panic - all of us sitting in the 'business world boat' are confronted with these challenges and the future is clearly not ours to see. Nonetheless, as a remedy for possible symptoms of panic, I highly suggest a short book by Mikael Krogerus and Roman Tschaeppeler called The Decision Book - Fifty Models for Strategic Thinking.  Not only does it give you the tools to analyse and improve yourself, but it will also gently push you in the direction of what you want from your MBA. This really being the quintessential question to ask oneself and the reason why you have to go through this tedious self-analysis.

Nowadays tailor-made MBAs are popping up quicker than weeds in a garden. There appears to be no limit to the specialisations on offer. If you are one of the few that know exactly what they are looking for, congratulations - you will find it. However, if you belong to the majority who are not sure exactly which industry they would like to work in, welcome to reality! Either go back to your personal SWOT analysis, or do a brutally honest brain-storming session on yourself. In closing, here are a few words of encouragement:

Few people remain in their chosen field - a very close friend of mine became an architect, but has run her own very successful, market-niche business for the last 15 years.

Eureka! You've finally found the specialisation you were looking for, but very few resources exist! Do not capitulate. Write the resources yourself!

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Global intelligence: New York Times goes international

Get essential global news, business insights and cultural content from the new launch of International New York Times, complemented by apps and a special subscription offer. [Contributed by the INYT]

The International New York Times announces its launch in print and online as of October 15, 2013. Combining the journalism of The New York Times with dedicated newsrooms in Paris, London, Hong Kong and New York, it is even more tailored for a global audience. 

The International New York Times is an exciting new offering that delivers essential global news, business insights and cultural content. Reporting from every corner and hubs around the world, the International New York Times provides relevant and timely coverage 24/7, resulting in a truly global sensibility. To celebrate this special launch, the International New York Times is offering a special subscription deal of 99c (USD) for the first 12 weeks.
International New York Times: Global news

International Herald Tribune becomes International NY Times
International New York Times succeeds the International Herald Tribune, a publication based in Paris since 1887. Over the past 125 years the International Herald Tribune has committed to unbiased and unrivalled journalism from all around the world. This next chapter of the IHT becoming the International New York Times will bring investments to our Paris, London and Hong Kong newsrooms, to further strengthen the vibrant international journalism from all over the world.

The International New York Times' expanded international team will be able to create even more globally-focused content to ensure our unique global perspective is maintained and enhanced for readers across all print and digital formats.

The rebrand launch includes expansion of more international opinion contributors, new editorial staffs and an additional, third page in the INYT's weekend edition. The INYT Opinion Pages (INYT.com/Opinion) will be edited from Hong Kong, Paris, London and New York so it can be especially tailored for global audiences.

Advanced apps for worldwide access
In addition to the international editorial expansion, The New York Times iPhone and iPad news apps now allow the user to choose between an U.S. or International Edition. The new International Edition is available to users of the most current iOS apps, and replaces the IHT app. INYT.com will be available on all devices via the mobile Web. For more information, please go to INYT.com/ineurope
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International New York Times: Global news
Special launch offer from the International New York Times:
Subscribe for just 99c (USD) for your first 12 weeks to the world's finest journalism.
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Subscribe to fantastic new offer for a limited time and only 99c (USD) to get:
Full access to NYTimes.com, including the International edition (INYT.com);
Unlimited access to world's foremost 24/7 coverage, articles, videos, multimedia contents and more;
Award- winning journalism and opinions;
Unique and insightful stories and multimedia content you won't find anywhere else.

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2013Expatica's "i am not a tourist" Expat Fair hits record 10 years

Expatica's 10th "i am not a tourist" Expat Fair yesterday was a success with record exhibitors and lively salsa performances, stand-up comedy and numerous prize giveaways.

Expatica celebrated its milestone tenth anniversary of the "i am not a tourist" Expat Fair on Sunday 3 November, with a record 109 exhibitions alongside a colourful range of performances and prize giveaways and a lively crowd of diverse nationalities.
Expatica's "i am not a tourist" expat fair 
Held in the Beurs van Berlage in the heart of Amsterdam, a mixture of expat-focused service providers, international schools, social facilities, network groups and government organisations introduced several thousand visitors to a range of services that help expats settle and build their life in the Netherlands.

Expatica's "i am not a tourist" expat fair Visitors also had the opportunity to visit the Expatica stand and seek one-on-one help from experts on education, Dutch immigration law, job hunting and housing, in addition to the advice offered by professional exhibitors around the fair.

Chocolate, genever-tasting, and cheese workshops added a cultural touch to the mix, but it was the salsa dancing, stand-up comedy shows and raffle prizes held on the main stage throughout the day that livened the atmosphere.

Looking back on the fair's 10 years, the presentations and workshops have become an integral part of the "i am not a tourist" event. The first fair started with only 7 presentations, but on Sunday a total of 36 presentations instructed visitors on a diverse range of practical topics from learning Dutch to culturally-appropriate CVs and interviews, with additional feature presentations on blogging, Dutch culture, and expat identity.

Creating a fair with both instructive and interactive elements was the very idea that led Expatica's managing partner Antoine van Veldhuizen to create the first "i am not a tourist" Expat Fair in 2004.

"From the start, we wanted our Expat Fair to be an infotainment event, combining experts in expat services with a fun and informative programme. It is an emotional achievement for me to see this vision still evolving after so many years. It has come a long way," said Antoine.
Expatica's "i am not a tourist" expat fair 
One of Expatica's first "i am not a tourist" fairs

Expatica event manager Daniлlle de Groot said this year's fair had an even better balance of the technical and lifestyle aspects for building a new life in the Netherlands than previous years.

"This year, we saw an increased number of international food exhibitors and family services, while still retaining necessities like banking, employment and housing providers. Most important for us, however, was that it was a fun day with a lively vibe," said Daniлlle.

Looking back on 10 years 
Visitor numbers have doubled since the first "i am not a tourist" Expat Fair 10 years ago, with pre-registration numbers in 2013 representing an almost 400 percent increase over 2004 figures. What has not changed, however, is the incredible mix of nationalities that visit the fair and the support of exhibitors every year.
Expatica's "i am not a tourist" expat fair 
Expatica has continued to use the fair over 10 years as a way to reach out to the expat community in the Netherlands. 

"For the Expatica team, "i am not a tourist" is a great opportunity to meet our readers in real life," said Daniлlle de Groot. "It is an important way for us to strengthen the connection and get a feel for what our readers need and how we can contribute to their lives abroad."

The high quality of entrants for Expatica's Cute Kids photo award and expat blogging competition also reinforced the growing status of the event among the Netherlands' expat community. 
"I am not a tourist" blogging competition "I am not a tourist" bakfiet photo competition
Blog finalists / Cute Kids winner
Positive response
Exhibitors and particpants alike had positive responses to the fair.
"Congrats on another very successful event yesterday! Buzz was good, hope you too are all pleased!" -Deborah Valentine, ACCESS (exhibitor)
"The whole fair ran like clockwork and we had a great response to our service." -Hannah Ward, British Corner Shop (exhibitor)
"Mail and Female had such a wonderful time, positive feedback and overall a great experience. We appreciate your time and effort to make everything an success." -Lindsay van Clief, Mail and Female (exhibitor)
"Congratulations for yesterday, I must say for me it was the most interactive fair I've been to in the last three years since living in Amsterdam." -Bogdan Manta, Toastmasters (participant)
"Was a great event, thanks for your enthusiasm!" -Navbike Amsterdam (visitor)

About Expatica
Expatica Communications is a leading online provider of news and information for the international English-speaking expat community since 2000. Expatica.com receives an average 1.5 million hits each month.


Upcoming Expatica events:
International Job Fair: Spring and Fall 2014.
Expatica's International Job Fair, organised in close co-operation with Together Abroad, brings together a range of potential employers and recruiters to the one place to aid expats looking for international careers.

Expatica SpeedDate in Amsterdam: Saturday, 23 November
Looking for love? Interested in making new friends? Meet some of the most eligible internationals in Amsterdam - true love can be found abroad, too!

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The British School in the Netherlands hosts successful boys football division

The British School in the Netherlands (BSN) held a successful International Schools Sports Tournament (ISST) last week with teams from Germany, UK and the Netherlands. [Contributed by BSN]

One football International Schools Sports Tournament (ISST)
International Boys Football Division in the NetherlandsSeven international schools, from the Netherlands Germany and UK visited The Hague last week to compete in the Boys Division One Football International Schools Sports Tournament (ISST). The tournament was successfully hosted by The British School in The Netherlands (BSN) and involved teams of U18 players representing among others the BSN and The International School of The Hague (ISH), as well as ACS Cobham, who were many people's favourite going into the tournament having been crowned champions in the previous two years.

The three days of intensive football produced some highly entertaining games and a number of outstanding goals. The tournament also threw up some intriguing derby matches on the final day, none more so than the third and forth place playoff between local rivals BSN and ISH which looked to be heading towards extra time, and perhaps even the dreaded penalties, before ISH eventually ran out 2-0 winners after two late goals.

ACS Cobham lived up to their billing as pre-tournament favourites, winning each of their games as the tournament's top scorers on their way to the final, in which they faced TASIS, The American School in England, who also went into the final unbeaten. Nonetheless it was ACS Cobham who ultimately prevailed as worthy winners with a 2-0 victory to once again lift the Boys Division One Football ISST trophy for the third successive year.
International Boys Football Division in the Netherlands
In addition to the tremendous football on display on the pitch, the tournament proved to be a rousing success off the pitch as BSN Head of PE Faculty Lee Crook explained, "Hosting any ISST Tournament is a daunting task and its success requires many hours of preparation and hard work from a team of staff. Our thanks particularly go to the BSN staff members who worked tirelessly behind the scenes to make this event so special for both the players and spectators."

ACS Cobham Coach Peter Lee also commented on his team's remarkable achievement, "To win three championships on the run is very special, the boys were on their game throughout and were fully focused and it was a pleasure to be around them. Special thanks to the BSN for hosting a truly great tournament, one of the best in my 16 years of being involved with ISST."

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