Tag archive for ‘Real Estate’

Build-to-Rent Homes Set for Construction Boom in the Next 5 Years

by Admin - on Dec 19th 2017 - Comments Off on Build-to-Rent Homes Set for Construction Boom in the Next 5 Years

A house's rental agreementBuild-to-rent homes will be more popular in Australia in the next five years, although these properties are unlike the existing kind of apartments in residential communities, according to real estate experts.

The increased amount of such rental properties stem from a desire among millennial, young families and downsizing Australians to adopt a rental lifestyle, Mir vac’s Adam Hurst said. As of December, there are 2.5 million rental homes nationwide, he added.

More Tenants

Hurst believes that more Australians will rent in the near future due to its novelty. While renting a home has become a common concept in other countries, Australia is just starting to embrace the trend. Hence, there is “a lot of excitement” over this kind of housing, Hurst said.

However, the new fleet of apartments will have new features such as building managers for residential buildings. A dedicated staff will also manage lease contracts, organise events and look after onsite businesses such as cafes and retail stores.

Tenants could also transfer to a different building in another area in case they move to a new job, due to the availability of a long-term rolling lease.

The projected rise of rental buildings will not only mean more business for property developers, but also for suppliers of construction equipment such as a cherry picker for hire.

Current Growth Trends

Homebuilders have noticed a strong increase in new orders in November, based on the Performance of Construction Index (PCI). The Australian Industry Group and Housing Industry Association’s PCI showed that housing and engineering construction activity rose to 57.5 points.

The increase reflected a continually positive outlook on the “assessment of business conditions” among companies. More people are also buying homes for the first time, according to the report.

Conclusion

Real estate developers should consider taking advantage of a buoyant residential property market, as demand shows no signs of tapering off anytime soon.

Fees and Taxes Involved in a Real Estate Transaction in the Philippines

by Admin - on Dec 14th 2017 - Comments Off on Fees and Taxes Involved in a Real Estate Transaction in the Philippines

Notebook with property tax sign on a tableReal estate experts know that a person can only guarantee a couple of aspects of his life: death and taxes. This is why individuals who want to invest in real estate must know what they will be getting themselves into in exchange for their dream property. Plenty of factors surround real estate, but people should be aware of the taxes and fees involved when looking at listings.

Land Estimate cites the things the buyer is responsible for.

  1. Registration Fee
  2. Transfer tax, which is enforced on any method of handing over ownership of a real estate property. It can be through barter, sale, donation or other modes.

Meanwhile, the seller would have to take charge of the following taxes and fees:

  1. Income tax is taken if the property they are selling is considered an ordinary asset.
  2. Percentage or Value-Added tax if the property they are selling is deemed an ordinary asset. There is a 12 percent-imposed VAT on sales of those engaged in the business of developing, subleasing or leasing, and selling a property.
  3. Creditable withholding tax is the tax withheld by the withholding agent or buyer. This is taken from the payment to real estate entities, persons, operators, developers, and dealers considered being regularly involved in real estate business.
  4. Capital Gains assumed to be taken from the sale of a property that is not considered as an ordinary asset is accountable for a six percent tax. This will depend on the highest among the evaluated value of the city or provincial evaluator, Bureau of Internal Revenue (BIR) zonal value, and the selling price.

The different taxes and fees that both parties are responsible for will depend on the particulars of the specific property. Anyone interested in engaging in a real estate venture will now have an idea of what they will come up against.

Getting Ahead of the Game — t he Real Estate Game

by Admin - on Sep 10th 2015 - Comments Off on Getting Ahead of the Game — t he Real Estate Game

real estate agentReal estate is one of the most lucrative and most progressive businesses you can invest in. With the low risk and high yield, no wonder it has become a very competitive field dominated by major players. To get ahead, here are the basic considerations you should never fail.

Prompt renewal of your license

The primary requirement to be a real estate agent is basic education in relevant laws, zoning, and career etiquette. For these reasons, brokers take licensure exams to make sure they are well informed. Licensure exams ensure that only those who continually practice the profession will be given access to the market.

You need to regularly renew your license. Enroll in the best real estate license renewal courses to keep up with the current information and legal complexities involved.

Getting in touch with the trends

While information is almost readily available on the internet, there are certain industry know-hows only circulated among major players and practitioners. This is the major reason why you should get a refresher course whenever possible.

According to Cbtrealestate.com, agents need to stay on top of industry changes. Subscribe to the newsletters of real estate institutions to get relevant information.

Networking

When it comes to doing business, it’s important to have skills, but there’s an equal weight placed on knowing the right people with the right resources. Learn to develop your network and to branch out. You’ll never know when you will be needing assistance in a different state or in a different field. It always helps to be well-connected and well-rounded.

Equip yourself with the right resources and the proper real estate license renewal courses. With these, it should be easier for you to stay competitive.