International Real Estate: Class Project
• In general: The country project is an evaluation of the real estate systems (title, financing, trade, professional community) within your assigned country. Your project should generally touch on the outlined topics below. The idea for this project is for you to make yourself an “expert” on the real estate systems within an assigned country. Logically, if you can do it once, the next time with an employer should be much easier.
• Demographics and statistics
– Population, GDP growth, language, unemployment (only include the basic, and the most important demographics and stats – don’t spend too much time on that portion of the project)
– Real Estate market conditions (supply and demand, appreciation/depreciation of prices, availability of properties etc)
NO MORE THAN 10% of PROJECT SHOULD BE DEDICATED TO COUNTRY DEMOGRAPHICS, HISTORY, or GENERAL INFORMATION.
• Government Powers
– Police powers
– Is there an eminent domain?
– Zoning and planning
– Code enforcement
o Who enforces the ordinances?
o Who controls and permits any changes to the property (new fixtures, beautification – sort of like Homeowner’s Association in USA)
• Contracts
– Necessary elements of a valid contract
– Sales contracts: Which elements should include? Drafted by whom?
– Breach of contract
– Do they have abstracts or an equivalent?
– Do they have an equivalent of a REIT?
• Leases
-Elements it contains/Requirements
-Landlord & tenant’s responsibilities
• Licensing requirements and process
– Which government body oversees the licensing?
– Training requirements
• Financing Residential Property
– Country mortgage practice: Promissory note? Provisions?
– Qualifications to get a mortgage: Domestic vs. Foreign investors
– Mortgage Rates
– Structure of the housing finance system: Primary vs. Secondary market
MAKE SURE TO RESEARCH THE SECONDARY MARKET
– Who are the mortgage originators & investors? Where do they get their capital?
• Commercial Market
• Construction of new property
– Building permits
– Cost of new construction
– Government restrictions
• A section devoted to YOUR recommendations for an invest/not invest. This should be no more than 10% of the space dedicated to the report.
OTHER CONSIDERATIONS
• Reference and cite findings.
• DO NOT PLAGERISE – paraphrase work.
• Writing skill matters. If you have writing issues, you should begin to work with the writing lab immediately.
A 25 – 30 minute presentation required… include PowerPoint slides.
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