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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Top 10 tips for tenants in Richmond

It can be quite overwhelming when moving to a new area, and it often takes time to find your feet and explore the town. Our lettings team in Richmond have put together a few points on what to do and where to go in Richmond to make the transition period a little easier...
Search for property to rent in Richmond, or if instead your looking to let a property in Richmond read our top 10 tips for landlords in Richmond.
1. It is important to know where the local schools are, especially for families who are relocating to the area: The Vineyard, The Old Vicarage, The German School, The Russell School and Kings House are just a few of the excellent schools found within Richmond upon Thames. 
2. Richmond is close in proximity to historic buildings and parks: Ham House, Marble Hill House, Hampton Court Lodge, The Royal Botanic Gardens in Kew and Richmond Park are just some of the attractions.
3. There are a number of specialist shops that can be found in Richmond Village: The Tea Box, The Teddington Cheese, Rosie and Java, Sweaty Betty, Boa Bridal Boutique and Whole Foods Market are all worth a visit.  
4. Richmond is close to well known rugby grounds: Harlequins, London Welsh and of course the world-famous Twickenham Stadium.
5. A number of historic figures have resided in the Richmond area: Henry VIII, Mary II and William III all lived at Hampton Court palace from the 1500s, King George III lived in Kew Palace at Kew Gardens and Marble Hill House was built for Henrietta Howard who was the mistress of King George II. 
6. There are excellent bus, tube and train connections from Richmond: the main line train from Richmond Station reaches Waterloo in 20 minutes and there are road links to Heathrow Airport close by. 
7. There is a good selection of family-friendly activities in the area: Pools on the Park, The Pottery Cafe, Krafty Kidz, Wendy's Workshop, Orleans House Gallery, Horse Rangers Association and Hampton Open-Air Pool. 
8. On the riverside, there is an abundance of pubs and restaurants to suit various tastes and styles: The Bingham, Gaucho, The Slug and Lettuce, Pitcher and Piano and The White Cross. The river plays host to annual rowing races and regattas, and there are numerous river cruises available as well as boats for private hire: Turk Launches River Cruise, Richmond Bridge Boathouses and Hammerton's Ferry.  
9. There are 160 local parks and more than 40 play areas in the Richmond area: Richmond Park (which is home to hundreds of deer that can be spotted when walking through the park), Bushy Park, Old Deer Park, Lollipop Club Play Area, Little Hamsters Play Cafe and Marble Hill Park outdoor play area. 
10. There are some fantastic venues in Richmond for entertainment: The Odeon Cinema, Richmond Theatre, The Orange Tree Theatre, The Laughing Horse Comedy Club and Richmond and Twickenham Jazz Club.

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Buying historic properties

Historic buildings abound in France, from barns to chвteaux, and they needn't cost the earth. But you need to know in advance what you are letting yourself in for, whether you buy a ruined shell or an immaculately-renovated property.

France has a similar system to England for listing buildings of historic or architectural interest. This aims to preserve and protect them as part of France's cultural heritage. Known as monuments historiques (MH), there are two classification levels. Classement as an MH is the higher level and designates a monument of national importance, like the Chвteau de Versailles. Inscription sur l'inventaire supplementaire des Monuments Historiques (ISMH) covers monuments of regional or local importance, such as smaller chвteaux or manor houses. A listed building is commonly known as either classй or inscrit.

Fewer buildings are listed in France than in England, where virtually every building over a certain age is grade-listed. The total number of listed MH in France is around 40,000 (12,000 classйs and 28,000 inscrits), of which nearly half are in private hands. In comparison, England has almost 375,000 listed buildings. Aside from officially listed buildings, many thousands more in France are historic monuments in all but designation. I'll focus on these and the MH inscrits, as being of more interest to property hunters than national monuments.

The French Ministry of Culture has overall responsibility for MH. Below that, a range of organisations apply government policy, provide advice and carry out inspections. Broadly, once a building is listed, the Service territoriale de l'architecture et du patrimoine (STAP) oversees its protection and preservation. Within STAP, the Bвtiments de France (BDF) architects provide expert advice and approve renovation plans. If you own a listed building you are likely to have most contact with them.

BUYING A HISTORIC HOME

Carl Scholfield of Lafite Scholfield Belles Demeures says there are plenty of historic buildings available. Many of those on his books, such as an immaculate Renaissance chвteau in Lot-et-Garonne, are not listed, although they certainly would be in the UK. They are therefore subject to the normal rules governing their sale and renovation.

However, if an MH takes your fancy, French bureaucracy is never simple and there are rules about what you can do with a monument historique inscrit. The vendor must inform the purchaser of its status before the sale and notify the local prйfet. Carl Scholfield also says, "If you need a mortgage to buy a listed property, the banks don't like to touch them. But some specialist outfits provide finance."

If you plan to renovate the property, lawyers advise putting a clause suspensive into the compromis de vente, or pre-sale agreement, making the sale conditional upon obtaining planning permission. Scholfield says, "If you have plans to renovate, you need to make enquiries first with the Bвtiments de France architects." Even if the house itself is not listed, there are restrictions on what you can do if it is within 500 metres of an MH or in a Plus Beaux Villages.

RESTORATION AND MAINTENANCE

The owner is responsible for the preservation and upkeep of an MH. To modify a listed building, even to replace the shutters, you need to inform the prйfet in advance and obtain the necessary permission. The process can take several months but you cannot start work without it. This is normally granted subject to restrictions, such as the type of materials permitted.

BDF architects supervise the work up to completion. Even if a house is not listed, any plans must be passed by them if it is close to a listed site. Scholfield says, "The general opinion is that you can't do anything to a listed building but the BDF architects are surprisingly open to modern touches on ancient houses. An 11th-century fortified chвteau I sold last year was hyper-modern inside and one entire wall was glass."

Once permission is granted, the owner of an MH inscrit must engage an architect to oversee the work. But there is no restriction on the architect or building firm you can choose to carry it out.

Grants are available for the restoration and on-going maintenance of listed buildings. The amount you can claim will depend on the level of classification and other factors but the state will finance up to 40% of the total bill. To find out if you are eligible, contact the Direction Rйgionale des Affaires Culturelles (DRAC). Delays and significant restrictions can apply.

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For non-listed buildings local grants might be available but the amount will depend on local discretion. In that case, contact the Direction Dйpartmentale de l'Йquipement (DDE) for your dйpartement. You can also apply for a Label Fondation du Patrimoine, provided the property has cultural significance and is visible from a public road. Renewable every five years, this gives access to subsidies for exterior restoration work and fiscal advantages.

You can enjoy certain tax advantages as the owner of an MH. Certain renovation costs are 100% deductible against tax, as well as the costs of opening to the public. Other costs, such as caretaking or works not eligible for grants, are also 100% deductible if the building is open to the public for at least 40 days, July to September, or 50% deductible if it is not. The rules are complex and, as always, specialist advice is essential.

ONGOING LIVING COSTS

Even if you buy a renovated property the cost of upkeep and repairs will add up for a listed building. Using specialist materials and artisans is expensive. Also, any work must conform to the BDF architect's requirements.

You also need to consider buildings and contents insurance. The house must be insured for the cost of rebuilding it, including experts' fees and demolition costs, which are likely to be expensive. Also, listed buildings pose more of a security problem. All these factors are reflected in the cost of insurance and many traditional insurers will not cover MHs. It pays to get guidance from specialist organisations such as Vieilles Maisons Franзaises, which provides expertise and advice to owners of old properties, not only listed buildings.

So, before taking the plunge and buying that dilapidated chвteau or former monastery you need to consider some important issues. But with careful planning you can turn the dream into a reality.

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High demand for houses in Islington

New research has revealed that house prices in Islington are rising faster than in any other place in London. The findings by Knight Frank appear to suggest that the property market is recovering at a slightly faster rate in the borough, compared to other parts of London. According to the report, Islington house prices rose by 1.7 per cent in October, second only to the 'City fringe' area at 3.5 per cent. The figures revealed that property prices in prime Central London increased by 0.6 per cent in October and have increased by 6.2 per cent over the first ten months of this year. Estate Agents have put the increase in Islington down to the combination of high demand and shortage of housing. In the borough, a quarterly price growth of 2.6 per cent has pushed the change in prices in 2013 to 8.9 per cent. Liam Bailey, global head of residential real estate at Knight Frank, said: "Demand for prime Central London property remains high, with the number of new applicants registering their interest in buying a home 34.4 per cent higher so far in 2013 compared to the same period of 2012. The number of property viewings is also higher over the same period, by almost 15 per cent." The data also shows that much of this increase in demand is targeted at the sub-Ј2 million market, where sales are 7.6 per cent higher in 2013 to date compared to the same period in 2012. However, it is no surprise that there is such a high demand to live in Islington. The borough is home to a number of cultural attractions, including the Almeida Theatre, the Estorick Collection of Modern Italian Art in Canonbury Square and the London Canal Museum. Emirates Stadium is also located there, along with City University and the London Metropolitan University's North Campus. - See more at: http://www.net-lettings.co.uk/london-property-news/articles/high-demand-for-houses-in-islington-3071#sthash.byGnPs5N.dpuf

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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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Seven costly mistakes you need to avoid when networking

John B Fisher, Founder of Business for Breakfast, shares expert tips for making the most of networking opportunities.

It is a fact that companies who do not network are missing tapping into a rich stream of new contacts and new business that can make them more successful, profitable and help them to understand their customers and the marketplace better whilst testing their message and its effectiveness. The other fact is that many people who do network make mistakes which can cost them winning new business in volume. Now we all make mistakes, so what can you look out for and how can you maximize your networking activities by avoiding costly errors?

1. Prejudging people
You cannot afford to prejudge people; you simply do not know who they know or who they can connect you and your business to. I have had some of my best referrals from people who I initially thought could not help me. We've all heard the saying, never judge a book by its cover, but many of us do. Instead, give people time and your attention. It is also worth mentioning on the flipside that all that glitters is not gold, be open-minded and don't jump to conclusions.

2. Not following up
People go out there, get the contacts, business cards and introductions but fail to follow up or when they do follow up they are trying to sell. Top referral achievers know how to follow up and they follow up on all contacts and keep in regular contact. The people you meet at business networking forums are their as equals, they do not want to be sold to and they definitely do not want to be treated as prospects however they may become customers or clients in time and that is fine but your objective is to find out about them and build rapport with the view to becoming an advocate of their business. It is also worth remembering that in business, as in the sporting arena, top performers develop skill and success through persistence and a focus on continuous improvement. Please understand that networking is a marketing tool and not just an event that you go to. I would implore you to follow up, don't hesitate don't even allow that little voice in your head to put you off, JUST DO IT.



3. No clear objective
You want quality business, right? So your objective should be to build relationships on the following 3 criteria: know, like and trust.
Know - getting to know your contact first is vital, a good way to get the conversation going is to ask open-ended questions in which the person cannot easily answer yes or no. For example, how did you get into this business? What type of businesses are you looking to be referred to?
Like- this is all about building rapport and getting on well. Many business referral clubs have an annual membership investment fee of Ј500 to Ј600, which is great. However, too many people undervalue the unique opportunity that this investment can give them and their business. You should be looking to get a return of 40 to 50 times your investment and then some.
Trust - mutual beneficial business relationships must be built on trust as we are talking about your reputation there must be no hidden agendas.
4. Not listening
Your ability to listen is one of the most important skills to have and it will give you the edge if you can learn, develop and cultivate it. This isn't about just hearing what is said it is about understanding and taking in what people really mean. Real listening will require your complete focus and attention. What are people really looking to achieve? What do people think is important about their business, job, personal ambition, and family, what is important to them? Usually people don't listen because they are too busy focusing on what they want to say next in a conversation. Remember practice and write down key areas of importance so the next time you speak or follow up you can ask them about their interests. You have 2 choices you can be an interesting person or you can be an interested person, you decide!

5. Talking about what you do
Talk in terms of what benefits you deliver to your clients, suppliers, customers and contacts. Talk enthusiastically and be specific do not go into detail at an initial first meeting at a networking event. Try to get over, What is unique about you? Why do you do what you do? How do you deliver more value than others in your sector? Please do not fall into the trap of saying that it is your service or quality of your product that differentiates you, this is far too common and generic, explain how, and explain why. Explain any guarantees. Also let people know who you want to be referred to specifically, NEVER say anybody or everybody as you will usually get referred to nobody, because this is not specific enough.


6. Short-term thinking
Don't be a hunter or a deal chaser to get the best results from your networking activities you need to take a long term approach you cannot afford to have an attitude of What's in it for me or what can I get out of this, you must replace this with the mantra How can I help you or How can I serve. Go out there to make a positive impact on someone's day. Effective people take a farming approach to networking, they focus on cultivating relationships for mutual long term benefit and they definitely do not chase deals or instant sales. You may attend a networking forum and do business initially that's great.

However, this should not be your primary objective as referral's work best if you develop a know like and trust strategy as mentioned, When you get a referral you want to know, that it is the type of business you want and importantly you want to know that you are going to get paid for your product or service so to protect yourself follow these 3 simple steps:

Step one - get to know your networking colleagues know what they do, know what they like and don't like, know what they stand for and what they are about.

Step two - get to like them, get them to like you and build a relationship whilst developing rapport.

Step three - build trust and make sure they're reliable and test their reliability on little things first. I cannot stress how important it is to know like and trust your networking colleagues, because you cannot afford to introduce the wrong person, solution or Company to your valuable network, clients, contacts or customers if they cannot perform and also more importantly you cannot expect others to put you in front or introduce you and your company to their valuable contacts if you cannot perform and successfully deliver on your promises. People who you recommend represent you so don't cut corners.

7. Letting fear get the better of you
So you feel nervous about going up to a complete stranger and introducing yourself, you feel apprehensive, this makes you normal. We were all taught as children not to talk to strangers. As a kid this strategy was given to you to protect you. In certain situations or circumstances today this may be advisable however in most cases it definitely does not apply now. In business, however, talking to complete strangers is a way to generate interest and contacts for your products and services.

If you only talk to the people you already know and deal with, you will miss out on opportunities to make new connections. Set a target for yourself before you attend any networking event. Decide how many new contacts you want to make or how many strangers you want to meet. Above all make it fun, turn it into a game and take yourself out of your comfort zone and I promise you that with practice, determination and action you will look back and think what was I worried about, you will also find it to be one of the best business decisions you've ever made.

So what next? Well that it is up to you, but I would encourage you to find a professional business networking organization, which can help you become more successful and improve those skills. I firmly believe making networking part of your marketing activity will be one of the best business decisions you can make -- and it will be fun too.

John B FisherBusiness For Breakfast (BforB) is one of the UK's leading networking organisations. Business Networking is the most cost effective way of attracting new clients and generating new orders, as well as providing invaluable contacts that can give your company a dramatic boost.

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New regeneration work taking place in Enfield

A number of improvements have been made to the London borough of Enfield, it has been revealed. Brand new Christmas lights have been installed in shopping centres across the borough, while hanging baskets have been put up throughout the area. The refurbishments are part of a Ј200,000 drive to improve the area, according to Enfield Council. It announced that the move is part of an initiative to boost the appearance of Enfield and to make it easier for pedestrians in some areas, while improving vehicle access. The scheme is a joint collaboration between Enfield Business Retailers Association and Enfield Council. Areas which will be affected by the overhaul include Palmers Green, Enfield Town, Green Lanes, Edmonton and Lavender Hill. This particular project will also see new seating installed at Palmers Green Triangle and the removal of hedges, in addition to the planting of shrubs around Enfield Town Library. Councillor Chris Bond, cabinet member for environment, said Enfield Council is always looking for new ways to regenerate the area. He added: "This money forms part of our regular maintenance plan which helps us keep the borough moving smoothly and enables us to improve parts of the borough in need of a bit of tender loving care. "These relatively small scale schemes mean we can improve shoppers' experiences when they come to this borough and therefore give our businesses a boost as well." Enfield has always been a popular place to live among Londoners and is served by strong transport links which connect the borough to the Piccadilly line, plus North and Eastern Railway. There are several underground stations in the area and buses which allow for easy travel to different parts of London. There are also several museums in the area, plus a number of educational establishments, including Oak Hill Theological College, an associate college of Middlesex University.
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HIGHLIGHTS-Malaysia announces consumption, property taxes in 2014 budget

(Adds more details)
    KUALA LUMPUR, Oct 25 (Reuters) - Malaysian Prime Minister
Najib Razak unveiled his government's budget for 2014 on Friday,
seeking to address a large fiscal deficit, shrinking current
account surplus and growing debt pile that are sources of
concern for investors and ratings agencies.

For a preview of the budget, click on 
For Malaysia's economic reports, see  
Malaysia's CPI hits 20-month high     
    
Following are highlights from Najib's ongoing speech to
parliament: 
    
CIVIL SERVICE
*  Pensioners will receive a special financial assistance of 250
ringgit to assist them meet the rising cost of living. 
*  Government to give a half-month bonus for 2013 with a minimum
payment of RM500 to be paid in early January 2014. 
   
CASH HANDOUTS
* Cash handouts to households with a monthly income of below
3,000 ringgit will be increased to 650 ringgit from 500 ringgit.
* For individuals aged 21 and above and with a monthly income
not exceeding 2,000 ringgit, cash handouts will be increased to
300 ringgit from 250 ringgit.
* For the first time, cash assistance of 450 ringgit will be
extended to households with a monthly income of between
3,000-4,000 ringgit. rising cost of living borne by the lower
middle-income group. 
* To implement all cash schemes, government will allocate 4.6
billion ringgit which is expected to benefit 7.9 million
recipients. 
      
REAL PROPERTY GAINS TAX
* For gains on properties disposed within the holding period of
up to 3 years, RPGT rate is increased to 30 percent.
* For disposals within the holding period up to 4 and 5 years,
the rates are increased to 20 percent and 15 percent,
respectively. Malaysian property firms with exposure to this tax
change include UEM Sunrise,  Mah Sing Group 
and Tropicana Corp . 
* Raise the minimum price of property that can be purchased by
foreigners to 1 million ringgit from 500,000 ringgit. 
* Prohibit developers from implementing projects that have
features of Developer Interest Bearing Scheme (DIBS), to prevent
developers from incorporating interest rates on loans in house
prices during the construction period.
* Financial institutions are prohibited from providing final
funding for projects involved in the DIBS scheme. Malaysia's top
three banks are Maybank, CIMB and Public
Bank.
    
AFFORDABLE HOMES
*  To further increase access to home ownership at affordable
prices, an estimated 223,000 units of new houses will be built
by the government and the private sector in 2014. 
    - Companies that specialise in affordable housing
development include Hua Yang Bhd.  
* Government to allocate 578 million ringgit to the National
Housing Department (JPN) for low cost flats consisting of 16,473
housing units. 
* Malaysian's government to provide 80,000 housing units with an
allocation of 1 billion ringgit under affordable housing scheme.
The sales price of the houses will be 20 percent lower than
market prices.
* Introduce the Private Affordable Ownership Housing Scheme
(MyHome) to encourage the private sector to build more low and
medium-cost houses. The scheme provides a subsidy of 30,000
ringgit to the private developers for each unit built.
*  Preference will be given to developers who build low and
medium-cost houses in areas with high demand and limited to
10,000 units in 2014. 
* The scheme is for housing projects approved effective from 1
January 2014 with an allocation of 300 million ringgit. 
    
TAX RELIEF
* Government proposes a special tax relief of 2,000 ringgit be
given to tax payers with a monthly income up to 8,000 ringgit
received in 2013. 
       
GOODS AND SALES TAX
* To implement goods and services tax (GST) on April 1, 2015 -
17 months from now. 
* GST rate fixed at six percent, the lowest among ASEAN
countries. 
* GST replaces current sales tax. 
* Basic food items, transportation services, highway tolls,
water and first 200 units of electricity for domestic users per
month to be exempt from GST. 
* Sale, purchase and rental of residential properties as well as
selected financial services are exempted from GST. 
* PM Najib: "The reality is that inflation now is low at around
2 percent. The government is confident this will be the best
time to impose GST as inflation is minimal and under control."
* Training grant of 100 million ringgit will be provided to
businesses that send their employees for GST training in 2013
and 2014. 
* Financial assistance amounting to 150 million ringgit will be
provided to small and medium enterprises for the purchase of
accounting software in 2014 and 2015. 
    
CORPORATE TAX
*  corporate income tax rate be reduced by 1 percentage from 25
percent to 24 percent. 
* income tax rate for small and medium companies will be reduced
by 1 percentage point from 20 percent to 19 percent from the
year of assessment 2016.
          
INCOME TAX
* government to give one-off cash assistance of 300 ringgit to
low income households 
* personal income tax rates be reduced by 1 to 3 percentage
points for all tax payers.   
* individual income tax structure will be reviewed  
* chargeable income subject to the maximum rate will be
increased from exceeding 100,000 ringgit to exceeding 400,000
ringgit. 
* Current maximum tax rate at 26 percent to be reduced to 24
percent
* measures to be effective in 2015        
    
SUBSIDIES
* Subsidy programme to be "gradually restructured"
* A portion of savings from restructuring to be distributed in
the form of direct cash assistance with the other half to
finance development projects.
* To abolish the sugar subsidy of 34 sen effective October 26
2013.
    
IMPROVING BUDGET MANAGEMENT
* committed to reducing the fiscal deficit gradually, with the
aim of achieving a balanced budget by 2020. 
* to ensure federal debt level will remain low and not exceed 55
percent of GDP.
* government to conduct audits on projects valued at more than
100 million ringgit during its implementation. 

ISLAMIC FINANCE
-  Securities Commission to introduce the a framework for Social
Responsible Investment (SRI) Sukuk, or Islamic bonds, to finance
"sustainable and responsible" investment initiatives.
    
AGRICULTURE
-  Government to allocate six billion ringgit allocated for
agriculture programmes.          
 * Says to 243 million ringgit allocated for rubber, palm oil
and cocoa replanting as well as forest plantation programmes.
Main plantation companies in Malaysia include Sime Darby
, IOI Corp  and KL Kepong.

LOGISTICS
- Government to allocate 3 billion ringgit in soft loans under
the Maritime Development Fund through Bank Pembangunan Malaysia.
 * The fund is to provide financing to encourage the development
of the shipping industry, shipyard construction, oil and gas as
well as maritime-related support activities. 
        
AVIATION
- To replace existing air traffic control and management system
in Subang, a new air traffic management centre costing 700
million ringgit will be built at Kuala Lumpur International
Airport (KLIA).
* Kota Kinabalu, Sandakan, Miri, Sibu and Mukah airports in
Sabah and Sarawak to be upgraded with 312 million ringgit
allocation.  
- Malaysia Airports  manages and operates all airports
across the country except for one in Johor.

PUBLIC INVESTMENTS            
* Public investments to reach 106 billion ringgit. Projects to
be implemented include:
- A 316-kilometre West Coast Expressway. Locally listed Kumpulan
Europlus Bhd owns 80 percent of the project, while IJM
Corp owns the balance 20 percent.
- Double-tracking rail project along west coast Malaysia. The
project is carried out by  as a joint venture between MMC Corp
 and Gamuda.
- Various projects from state oil firm Petronas under
its 300 billion ringgit capex programme, including a
petrochemicals plant in southern Johor state.

* INTERNET ACCESS
-  To carry out second phase of high-speed broadband project
with the private sector involving 1.8 billion ringgit
investment. State-linked telco Telekom Malaysia Bhd 
is involved in the project. 
-  To increase Internet coverage in rural areas, 1,000
telecommunication transmission towers will be built in the next
three years, with an investment of 1.5 billion ringgit.
-  To increase Internet access in Sabah and Sarawak, new
underwater cables will be laid within three years at a cost of
850 million ringgit. 

 (Reporting by Kuala Lumpur bureau; Editing by Niluksi
Koswanage)

.reuters

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U.S. home prices remain in positive territory

U.S. home prices will remain positive until year-end as demand gets a boost from moderate job growth and record-low affordability rates.

In the end of second quarter, the United States is on top of international real estate trends with inflation adjusted home prices rising 8% year-on-year, according to Scotiabank global economist Adrienne Warren said in a note, "Global Real Estate Trends."

The economic and monetary conditions in the U.S. led by rising consumer confidence will contribute to considerable pent-up demand for housing following the multi-year downturn, Ms Warren said.

Although rising mortgage rates will ease, this will not impede the recovery, which Ms Warren said "is still in its early stages from a cyclical standpoint."

However, in spite the positive projection on the U.S. housing market, the construction activity is still low.

Fewer Homes on Sale

Trulia's lead economist Jed Kolko in a blog noted that though inventory levels point upwards, vacancies are still high because a few homes are listed on sale.

Homeowners are waiting for prices to lift further, Mr. Kolko added before putting them in the market.

He said that a pent-up demand of at least 1.1 million annually could be tapped from households to be formed once the generation X and Y gets a bigger push to leave their parent's nests and be on their own.

Rentals More Appealing

Majority of U.S. home owners, whose property are still under water, are now renting, a related report by the Financial Times said.

U.S. homeownership rate declined to 18-year low at about 65% and is still to decline to 60% from a high of 70%, economists surveyed by Ft.com said.

The U.S. commerce department has estimated that for each percentage point decline in home ownership, there has been a shift of approximately 1.1 million households to the rental market.

"The construction of multifamily apartments had rised by 353% since the housing market dip, while single-family homes rose 78%," the FT.com said quoting data from the U.S. commerce department.U.S. home prices will remain positive until year-end as demand gets a boost from moderate job growth and record-low affordability rates.

In the end of second quarter, the United States is on top of international real estate trends with inflation adjusted home prices rising 8% year-on-year, according to Scotiabank global economist Adrienne Warren said in a note, "Global Real Estate Trends."

The economic and monetary conditions in the U.S. led by rising consumer confidence will contribute to considerable pent-up demand for housing following the multi-year downturn, Ms Warren said.

Although rising mortgage rates will ease, this will not impede the recovery, which Ms Warren said "is still in its early stages from a cyclical standpoint."

However, in spite the positive projection on the U.S. housing market, the construction activity is still low.

Fewer Homes on Sale

Trulia's lead economist Jed Kolko in a blog noted that though inventory levels point upwards, vacancies are still high because a few homes are listed on sale.

Homeowners are waiting for prices to lift further, Mr. Kolko added before putting them in the market.

He said that a pent-up demand of at least 1.1 million annually could be tapped from households to be formed once the generation X and Y gets a bigger push to leave their parent's nests and be on their own.

Rentals More Appealing

Majority of U.S. home owners, whose property are still under water, are now renting, a related report by the Financial Times said.

U.S. homeownership rate declined to 18-year low at about 65% and is still to decline to 60% from a high of 70%, economists surveyed by Ft.com said.

The U.S. commerce department has estimated that for each percentage point decline in home ownership, there has been a shift of approximately 1.1 million households to the rental market.

"The construction of multifamily apartments had rised by 353% since the housing market dip, while single-family homes rose 78%," the FT.com said quoting data from the U.S. commerce department.U.S. home prices will remain positive until year-end as demand gets a boost from moderate job growth and record-low affordability rates.

In the end of second quarter, the United States is on top of international real estate trends with inflation adjusted home prices rising 8% year-on-year, according to Scotiabank global economist Adrienne Warren said in a note, "Global Real Estate Trends."

The economic and monetary conditions in the U.S. led by rising consumer confidence will contribute to considerable pent-up demand for housing following the multi-year downturn, Ms Warren said.

Although rising mortgage rates will ease, this will not impede the recovery, which Ms Warren said "is still in its early stages from a cyclical standpoint."

However, in spite the positive projection on the U.S. housing market, the construction activity is still low.

Fewer Homes on Sale

Trulia's lead economist Jed Kolko in a blog noted that though inventory levels point upwards, vacancies are still high because a few homes are listed on sale.

Homeowners are waiting for prices to lift further, Mr. Kolko added before putting them in the market.

He said that a pent-up demand of at least 1.1 million annually could be tapped from households to be formed once the generation X and Y gets a bigger push to leave their parent's nests and be on their own.

Rentals More Appealing

Majority of U.S. home owners, whose property are still under water, are now renting, a related report by the Financial Times said.

U.S. homeownership rate declined to 18-year low at about 65% and is still to decline to 60% from a high of 70%, economists surveyed by Ft.com said.

The U.S. commerce department has estimated that for each percentage point decline in home ownership, there has been a shift of approximately 1.1 million households to the rental market.

"The construction of multifamily apartments had rised by 353% since the housing market dip, while single-family homes rose 78%," the FT.com said quoting data from the U.S. commerce department.

.globalpropertyguide.

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Buy-to-let Trend on the Increase

Buy-to-let investment in residential property is indeed on the increase, according to figures from the Rawson Property Group's sale franchises.


"The number of buyers now buying for investment purposes has almost doubled in one year, from 3,5% to 8% of the total," says Bill Rawson, chairman of the Rawson Property Group, "and there are clear indications that this trend is on the increase."


Three primary reasons

Asked to what he attributes this rise, Rawson says that there appear to be three main causes of the success of franchising.


The first, in his view, is the poor returns now being given by the money market: "Fixed deposit investments, the traditional haven for the unsophisticated investor, are now around 5,5%. This is not high enough to attract investors."


The second cause of the upswing, says Rawson, is the greatly improved rents now obtainable. This is most noticeable right now in Gauteng, where rental returns of 7-10% are now being achieved from the date of purchase.


Those going the buy-to-rent route, says Rawson, should follow the example of certain of the Rawson Property Group's long-established investors and make it a policy to pay back the bond at 10% or 20% above the agreed rate.


Thirdly, certain banks, he says, last year kept their bond repayments at the old 10,5% rate of a year ago after the standard rate had dropped to 8,5%, and had thereby done their clients a huge favour.


Such clients are building up a surplus which could be a very useful buffer if they hit hard times. If they simply continue to pay their bonds at the higher rate, it will enable them to pay them off in a far shorter period.


"We have large numbers of clients who, by being disciplined, pay off their bonds in ten years. In the buy-to-let field this is especially good practice," says Rawson.

privateproperty

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Lenovo profits lifted by smartphone and tablet sales

It made a net profit of $220m (Ј137m) in the July-to-September quarter, as sales of mobile devices more than doubled from a year ago.

Lenovo, the world's biggest PC maker, has been focusing on mobile devices amid a slowing global PC market.

Its combined shipments of smartphones and tablets have now surpassed those of PCs for two quarters in a row.

Shipments of smartphones rose 78% year-on-year in the three months to the end of September, while those of tablets rose more than fourfold to 2.3 million units.

"Lenovo not only remains the top PC company in the world, but is also already the number four player in both smartphones and tablets worldwide and continues growing rapidly," Yang Yuanqing, chief executive of Lenovo, said in a statement.

He added Lenovo was likely to see further growth in the coming months helped by a recovery in the PC market as well as continued growth in the tablet PC sector.

"These are Lenovo's strength areas. We are confident that we will capture these opportunities," he said.

Lenovo said that a recovery in the Chinese market - which accounts for nearly 40% of its revenue - would boost its growth further.

bbc

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Chorus trailing in ultra-fast broadband race - TrueNet

Chorus is trailing behind other ultra-fast broadband network builders in speed tests, says TrueNet.

TrueNet, one of the broadband testing services endorsed by the Commerce Commission, measured fibre internet speeds during October from Chorus, Christchurch's Enable Networks and the central North Island's Ultra Fast Fibre.

This series of tests compared speed from the three network builders over two different ultra-fast broadband products presently available - the 30 megabits per second download service and the 100 megabits per second equivalent.

These fibre companies sell wholesale services to internet companies, which then sell them onto consumers.

TrueNet measured the proportion that each of the fibre companies' recorded better than 90 per cent of the advertised speeds for each of the different broadband products.

So it measured the proportion where recorded speeds were better than 27 megabits per second (for the 30Mb/s service) or 90 megabits per second (for the 100Mb/s service).


Just over 60 per cent of tests for Enable's 100Mb/s product recorded speeds over 90Mb/s while close to all of the tests for Enable's 30Mb/s service were over 27Mb/s.

For Ultra Fast Fibre, around 70 per cent of tests for the 100Mb/s service were over the limit while between 85-90 per cent of tests for 30Mb/s service did the same.

For Chorus - which is building the majority of the UFB network - over 90 per cent of the 30Mb/s tests matched the limit, while under 50 per cent of the 100Mb/s did.

"Taking the average of both 30Mb/s and 100Mb/s speed tests results, Enable came out on top closely followed by UFF with Chorus lagging behind in third place," TrueNet said.

"TrueNet's latest comparisons show that work needs to be done on performance to ensure the ultra-fast broadband (UFB) project is fully successful," the testing service said.

TruNet's John Butt said the testing was done with 42 probes around the country. He would not break down how many probes were used to test each of the fibre companies, but said there was a minimum of five for each.

"Naturally we have a lot more Chorus probes, but after specially seeking probes in the other LFC [local fibre companies] areas," he said.

TrueNet said it did not have enough volunteers to conduct the tests in Whangarei where Northpower is building the fibre network.

nzherald

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Share the Joy of Coopers Mill

Popular Development Launches 'Start Point' Shared Equity Scheme

The award-winning development Coopers Mill, situated on the Upper Newtownards Road at Dundonald, has launched the 'Start Point' shared equity scheme that offers potential buyers a unique opportunity to own their own brand new home - in partnership with the McGinnis Group, one of Northern Ireland's most respected local homebuilders.

The launch of 'Start Point' - the shared equity scheme means The McGinnis Group will finance up to 15% of the value of the property with the buyer only having to arrange mortgage finance for the remaining 85% of the purchase price. The McGinnis Group will charge no interest on the 15% for the first five years of the deal, and only 2% above base rate for the remaining term. Homeowners have up to 10 years to pay back the share. Of course the balance can be paid back before, or if the property is sold.

The McGinnis Group has also struck a great deal with their partner mortgage providers - which enables homebuyers to secure a mortgage with at least a 5% deposit, one of the lowest available on the market. According to Patricia McGinnis the deal has been put together to help customers become homeowners: "The interest in Coopers Mill is phenomenal and naturally we work very closely with the prospective buyers and our agents. We felt there was a real opportunity to help even more potential buyers with a shared equity scheme so we approached our partner mortgage providers and created 'Start Point'. Shared Equity is very much the norm in England and Scotland and we felt there was a real opportunity to introduce it to potential buyers at Coopers Mill. It operates like a standard mortgage and simply reduces the costs for buyers wanting to own their own home - in the majority of cases, it actually proves to be more economically beneficial than renting due to lower monthly payments and of course the overall investment of owning your own home."

Buyers become owners when they move into Coopers Mill, and once they settle in they quickly become part of the burgeoning community in the village. There is a real sense of pride and ownership in every home throughout the scheme. Potential buyers only need to take a look at the gardens and communal areas throughout the beautifully designed village to see how much residents enjoy being a part of Coopers Mill.

Sarah McAuley moved in with her husband Barry as recently as July this year - having admired the homes from afar. The newlyweds got the keys in June but choose not to move in until they got home from their honeymoon in July: "When Coopers Mill first became available in 2009 my husband and I instantly fell in love with the homes on offer, we even applied to win a 'free' house with Belfast Telegraph. You had to buy tokens and Barry and I bought papers for weeks, but to no avail. We then got engaged in August 2009 and planned to marry in July 2011. One Sunday we ventured up to look at the range of homes available at the time - and fell in love with it all over again."

Sarah continues: "The showhouse was like a dream for us - so well finished and homely. The BTW Cairns representative was so nice and gave us every detail we needed, which really put the final seal of 'we really want to live here' in both our hearts. One week later we paid a deposit and started reviewing mortgages. We watched our house being built on a weekly basis - seeing what changes had been made. The excitement of picking our kitchen really allowed us to imagine our dream house. We were so impressed with the standard of finish when we got our keys in June. For a newly married couple who didn't have much, moving into a home with all the appliances included was such a God send!"

The key to the success of Coopers Mill lies in the high standard of finish and the full turnkey specification which comes as standard in all of the homes. This is combined with the quality of workmanship which the McGinnis Group prides itself on delivering with each home.

The high specification that buyers have come to expect with a McGinnis Group home come as standard. Personalised kitchen selections, contemporary sanitary ware, coordinated floor and wall coverings, a gas fire and a superb garden are just some of the items that form part of a McGinnis Group turnkey package.

The location of Coopers Mill offers young couples and families many recreational opportunities including Dundonald Ice Bowl, situated close by, incorporating an ice rink, ten-pin bowling, indoor children's adventure playground and miniature golf. Also on hand are the David Lloyd Tennis Leisure Complex and the Dundonald Omniplex cinema whilst there is an abundance of golf courses nearby, including Knock, Scrabo, Shandon Park and Gilnahirk.

Situated in the East of the City, Coopers Mill is located just off the Belfast - Newtownards dual carriageway. The development is only 15 minutes from Belfast City Centre, five minutes from Newtownards, ten minutes from Comber and two minutes from Dundonald. It enjoys an enviable location convenient to the Ulster Hospital and Stormont with the George Best Belfast City Airport only 15 minutes away.

Links to schools are also excellent with many schools including Dundonald Primary School, Cabin Hill, Campbell College, Sullivan Upper, Our Lady and St. Patrick's College, Knock and Regent House all easily accessible.

With over 30 years of experience in the local residential construction industry the McGinnis Group is one of the most respected local homebuilders in Northern Ireland. The company specialises in creating affordable, high quality housing aiming to offer homes to suit the most discerning of buyers.

The McGinnis Group offers a 10-year NHBC guarantee with all their new homes. If you are interested in viewing the showhome and finding out more about the 'Start Point', the showhouse is open every Sunday between 2 - 4pm or if you'd like to make a personal appointment to view and discuss your options in your own time, joint selling agents BTWCairns 028 9042 8989 or Reeds Rains 028 91814144 will be happy to help.

propertynews

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Savills Ireland advises Kennedy Wilson on €306 million CMBS buy

The Irish investment team has advised a joint venture led by Kennedy Wilson on the acquisition of the matured Opera Finance CMBS portfolio for €306 million, representing the largest single CMBS purchase in Ireland in the current economic cycle.

The mixed-use portfolio consists of 14 properties located across Ireland including  Stillorgan Shopping Centre, Merchant's Quay Shopping Centre in Cork, KPMG's Dublin office on Stephen's Green and the Bank of Ireland headquarters on Mespil Road.

Fergus O'Farrell, investment director, comments: "This is a hugely significant transaction for the Irish property market. The assets within the portfolio were of a very high quality that offer good returns and on-going potential.  It therefore presented an attractive investment opportunity for Kennedy Wilson and the joint venture."

Previously managed by Real Estate Opportunities, a closed-ended investment fund that is majority owned by Treasury Holdings, the assets were financed by a loan provided by Eurohypo in 2005, which was then securitised in the Opera Finance CMBS in 2006, with the addition of junior debt. The debt fell due for repayment in February 2013.

savills

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