Journal of A Real Estate Obsessive

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The Obsession

Real estate is pervasive, it surrounds us, our home our work, and even when we try to escape on holidays! It is loosely defined as “land with buildings on it, consisting of natural resources like minerals and is generally immovable in nature”.  This is a blog of a real estate obsessive, I am infatuated by beautiful buildings and consider an aspiration to improving the general form and function of real estate will have a long and lasting positive impact on humanity.

Along with the physical real estate there exists a whole ecosystem to support its development, sale and resale. There are the well know professions of buying, selling property, or renting land, buildings or housing.

The terminology is different by geography, for example in Britain, “real estate” is often referred to as just “property”, referencing land and material things, while the term “real estate” is generally used in the context of law regulations, and it entails for example all interests in land held by a deceased person at death.

Some of the many faces of real estate include legal formalities (with professionals like real estate agents that are often employed to help the prospective buyers or sellers*); tax rates need to be paid, legal paperwork to guarantee the title; and a neutral party like a specialized title company will take charge of documentation and money to make the exchange a lot easier and smoother between the parties, for example a lawyer or property conveyancer.

*See our article Thoughts on Real Estate Agents if you want to know which real estate agent best fits to sell your property.

Globally Relevant

Global property prices vary considerably. Property prices are generally significantly lower than those in the developed nations such as the U.S. and Europe, but in some places like Mexico City, the prices and increasing to such an extent that they are reaching parity with those in the US and most western countries. In the United States, banks are now giving loans to people in order to buy properties in Mexico.

Looking at different regions in Thailand, a foreigner has the possibility to own a condominium provided under the condition that his ownership does not exceed 49% of the total cost of the building. It is next to impossible for a foreigner to own land in Thailand but some of today’s practices make it attainable; Until just a little while ago, the possession of land by a foreigner through a Thai Limited Company was considered by most legal advisers as acceptable, although the Law is clear in that respect foreigners cannot own land in Thailand.

In the Philippines, real estate is an area that is constantly growing. Apart from the development of high-rise buildings in the Greater Manila area, there is a fast growing development of other provinces. Building and property design refers to architectural, engineering and technical applications to the design of buildings and properties.

Interesting Professions

An architect is a person who has training in the planning, designing and supervising of the construction of a building. Professionally, an architect has a huge responsibility on his hands, the safety of people, this is the reason why an architect must go through sufficient training consisting in order to obtain a license that enables him to practice architecture. In most of the world’s authorities, the professional term “architect” is protected by the law.

The common designation in many places for someone who offers services such as building design, but does not hold an architect’s or an engineer’s license is “Building designer “, this is an important part of a real estate agent profession. Many building designers are called as “residential” or “home designers”, since their main focus is on residential design and modernizing. For more information, you can visit http://en.wikipedia.org/wiki/Building_design

An Example

One of the more interesting development under consideration at the moment is billionaire James Packer’s proposed $1 billion hotel and casino on Sydney’s harbor foreshore in Australia, as part of the ‘Barangaroo’ development. He is proposing a multimillion-dollar apartment development and at its extreme levels offers soaring views over Sydney harbor and the CBD. The casino is primarily for high end gamblers and is apparently required to bolster the financial viability of the project. See http://goo.gl/wzHP9

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They wish to build a tower of up to 60 stories – around 250 meters high -, which will exceed the current 170 meter limit approved for a hotel on the site. This will have a dramatic impact on the famous Sydney skyline.

The NSW government is still deliberating over whether to give Crown permission to build the complex, which will be the second Sydney casino.

Crown’s local rival named Echo Entertainment, which has lodged a counter offer by the government to expand its facilities and extend its exclusive casino license beyond its expiry date of November 2019.

For having more information we can talk about a personal blogging site of Author Saint Seanzys. He likes real estate, blogs about the sale and/or construction of huge beautiful buildings in Asia and you will love to have a visit to http://saintseanzys.com.