Global Property Scene

GLOBAL

PROPERTY NO. SCENE ISSUE 009

The Number One Buy-to-Let Magazine | www.globalpropertyscene.com

This issue: Should I move to Valdivia? | A guide to memorabilia investment | Is flatpack housing the future?

A guide to buying/investing in a private island | The world’s first space hotel

FOCUS ON : HONG KONG

SINGAPORE, CELEBRATING 50 YEARS OF INDEPENDENCE

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ODERN LIVING IN THE NORTH WEST X1 Media City Phase 1 & 2 • X1 Aire • X1 Eastbank • X1 The Plaza • X1 Town Hall • X1 The Quarter X1 Salford Quays 1, 2 & 3 • X1 Liverpool One • X1 The Exchange • X1 Chapel Street

INSIDE Features

15 The birth of space tourism

35 How to make a house a home

42 Should we all buy a flat pack home?

58 Which city best suits your needs?

With a growing number of companies such as Orbital Technologies, Space X, Virgin Galactic, World View Experience and Space Adventures promising to launch regular commercial flights into space, the chance to experience the final frontier could be a lot sooner than you might think.

Interior design trends can seem like a tricky-to-follow bunch. Increasingly like fashion, what is en vogue one week may seem antiquated the next. This is, in part, thanks to the internet’s increasing importance in interior design, and how fast the web works.

The phrase ‘self-build’ refers to you obtaining planning permission for a plot of land, and then building a home on that plot. Whilst the act of designing and physically building your own home can be a costly exercise, in both time and money, the majority of self-build projects overseas are for pre-constructed designs.

Increasingly, students are looking around the world to find different cities to study in. With a definite rise in the number of international students and services catered towards them, cheap travel options, and universities offering courses taught in different languages, people are no longer bound to their home countries.

Regular Articles

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07 Market in Focus: Hong Kong

88 UK

INSIDE SINGAPORE

Much like any other major global city, Hong Kong truly epitomises the hustle and bustle of a modern metropolis.

84 Should I move to Valdivia?

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One of the most beautiful parts of the country, Valdivia, a small town located in the south of Chile is a must see.

The home of the Industrial Revolution, the UK has long been established as a major commercial centre, benefiting from strong trade links with companies on every continent. With a long history in international cooperation, the country is an attractive place for investors both foreign and domestic.

Knight Knox have sold thousands of properties. We have experts on the ground that can help to find your perfect property. Why purchase with anybody else?

ISSUE 009 GLOBAL

PROPERTY NO. SCENE ISSUE 009

EDITOR’S NOTE

The Number One Buy-to-Let Magazine | www.globalpropertyscene.com

This issue: Should I move to Valdivia? | A guide to memorabilia investment | Is flatpack housing the future?

A guide to buying/investing in a private island | The world’s first space hotel

FOCUS ON : HONG KONG

SINGAPORE, CELEBRATING 50 YEARS OF INDEPENDENCE

It’s the start of a new year. With many opting to give something up in January, I intend to do more. Look at new markets, diversify my portfolio and maybe build something of my own. With all this in mind I give you edition 9.

Much like any other major global city, Hong Kong truly epitomises the hustle and bustle of a modern metropolis, but this particular city has one huge outlier— although geographically a part of China, Hong Kong operates like its own country.

In this edition we take a look at how such a small place packs such an economic punch.

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*Where Sold UK £4.99 USA $8.99 Europe €7.99 Hong Kong $67.00 Malaysia 31.00 MYR UAE 36.00 AED Singapore $11.00 SGD

Contact +44(0)161 772 1394 info@globalpropertyscene.com www.globalpropertyscene.com

Credits Individual Samantha Jones, Hannah Wilde, Rachel Sharman, Christine Schulz, Myriam Kemmar, Richard Ellis, Alistair McGovern, Suzanne Todd, Callum Whiteley, John Power, Martin Copeland, John Neary, Sue Hedges, Dee Barber, Mark Roberts, Michael Vickers, Mark Williams, Stella Nicol Commercial Knight Knox, X1 Developments, Fortis Developments, Forshaw Land & Property Group, Buy Association, INTUS Lettings, Gold Key Media, Shutterstock, Property Investor, Starin Red Spot Media Solutions, CODA Studios Ltd

Since the beginning of time we seem to be fascinated – almost obsessed – with the concept of space, stars, planets and other galaxies beyond our own. Every person wants to go on an adventure of their own, to a place yet to be discovered.

As the space tourism industry begins to gather momentum, it seemed high time we took a look at what’s on offer.

Singapore truly is a diverse country, rich of history, culture and economic success, however the city-state hasn’t always been known as such a thriving global business hub. Global Property Scene takes a look at the evolution of Singapore, one of Asia’s leading tiger economies.

And finally we take a look at which city will best suit your needs as a student in 2016.

With a definite rise in the number of international students and services catered towards them, cheap travel options, and universities offering courses taught in different languages, people are no longer bound to their home countries.

We leave it there for now. Enjoy the edition and remember, this is just the first of many in 2016.

Happy New Year!

Editor-in-chief Michael Smith

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MARKET IN FOCUS HONG KONG

Words : Hannah Wilde | View : Songquan Deng

“An enigmatic city of skyscrapers, ancient traditions and heavenly food”— This is how travel journal Lonely Planet chooses to describe Hong Kong, a truly mesmerising city on the southern coast of China. Despite only measuring little more than 420 square miles, Hong Kong has a massive population of over 7 million, which makes its population density over 6,650 people per square kilometre.

Dollars), international dialling code (+852), and even its own law enforcement officers. This is perhaps surprising for a city which accounts for only a tiny minority (0.01%) of its native country’s density, but when coupled with the fact that that Hong Kong has the most expensive property market in the world, the city all of a sudden becomes a rival to the likes of heavyweights London and New York in its own right.

Known as a shopper’s paradise, Hong Kong has enough luxury retailers to put Dubai to shame—Chanel, Gucci, Armani and Louis Vuitton are among the many designer brands that have a huge presence in the city. If shopping isn’t really your thing, there is so much more on offer in such a diverse and vibrant city: residents and tourists alike can benefit immensely from the city’s interconnected transportation system, which can take you to any one of the city’s numerous museums, cultural attractions and ample green spaces. Such is Hong Kong’s status as a world city, its public transport network is second-to-none—including a wide variety of buses, ferries, railways and tramways of all shapes and sizes; the Hong Kong transport system is said to be one of the most sophisticated in the world.

Similarly, when contemplating the world’s most expensive property market, it’s easy to think of the likes of the aforementioned cities before all others, but in recent years Hong Kong has far surpassed other cities. Its ever-growing population and severely dwindling available stock has put a severe strain on the property market and thus pushed prices significantly higher. Furthermore, this supply/demand imbalance does not look likely to end anytime soon, especially since over three-quarters of Hong Kong is rural and thus unhabitable, meaning that there is severely limited capacity to increase the available housing stock in the future.

Much like any other major global city, Hong Kong truly epitomises the hustle and bustle of a modern metropolis, but this particular city has one huge outlier—although geographically a part of China, Hong Kong operates like its own country, complete with its own currency (Hong Kong

Hong Kong has had to be innovative with the limited space available—instead of building out, the city has had to build up. High-rise apartment buildings are increasingly the norm in Hong Kong, with an army of skyscrapers (defined as buildings over 18 floors in height) over 8,000 strong throughout the city. Incredibly, Hong Kong currently holds the title of having the largest concentration of skyscrapers in the world, beating its

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next rival New York by more than double. Without houses, condos, villas and other standalone residences readily available on the Hong Kong market, high-rise apartment living has become the only option for its residents. However even these apartments are proving to be increasingly elusive for many, especially as prices continue to grow at an unsustainable rate.

whopping HK$2,910,000 (£255,540). For a similar price, it is possible in the current market to get a large four-bedroom 2,000sqft detached house in Manchester, UK, a stunning 7-bed 5-bath villa in Davenport, Florida, a four-bed house in Long Island, New York with a private outdoor pool, or even your own private island in the Bahamas for the cost of a tiny studio flat in Hong Kong.

The lack of available stock in the market has had another knock-on effect on the way the residents of Hong Kong live—as the population continues to grow, more and more skyscrapers are being built, but not at sufficient level to soothe the city’s insatiable demand. Apartments particularly in the city centre are getting smaller, with the view from developers that decreasing the size of individual units will ultimately mean there is capacity to add more apartments within the building. This notion has snowballed in recent years, to the point that apartments in Hong Kong are selling at a tiny average square footage of 180—15sqft smaller than the size of an average KITCHEN in a home in the US. In what the press are calling ‘mosquito flats’, these miniscule living spaces have limited selling points, so much so that local realtors are marketing windowsills in these apartments as having the capacity to be ‘entertainment spaces’.

The house price problem in Hong Kong has escalated now to crisis point—the market is unsustainable in its current condition, as people can no longer afford such exponential prices for such a small amount of space.

Research showed that from 2008-2013, Hong Kong’s house prices grew 134%—that’s a massive 26.8% growth per year. In the years since, house prices have kept on growing, leading the city into somewhat of a property ‘bubble’. Due to this, Hong Kong has unsurprisingly become the world’s most unaffordable housing market in the world as a result of years of escalating property prices and dwindling affordability. Research presented in the Demographia International Housing Affordability Survey showed that average house prices in January 2015 were a huge 17 times the gross annual household income, reaching the highest level in the survey’s 11-year history.

To add insult to injury for the increasingly frustrated residents of Hong Kong, average prices for a similarly miniscule apartment (20sqm) start at a

Furthermore, if things weren’t dire enough for the hordes of average-income Hong Kong residents unable to get onto the property ladder, rental

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prices have soared in the city too. Although not at the same stratospheric rise as house prices, rents in Hong Kong have been shooting up, leading to a cycle of unaffordability in the city. Due to ever-growing house prices, people cannot afford to own their own home and thus have no choice but to rent, however because of demand in the rental market for those priced out of homeownership, rents have also increased.

In what is often referred to as the ‘sandwich class’ (describing those whose income is over the threshold for public rental flats but who cannot afford to buy a flat either), this market demographic are forced into a vicious cycle: Rising rents mean that more and more people cannot afford to cover their rent and save up for a deposit at the same time, meaning that people are stuck in the rental trap for the foreseeable future.

What has caused this unsustainable property bubble in Hong Kong? A myriad of economic conditions in the market has made Hong Kong’s property market incredibly attractive over the past decade, such as historically low interest rates, currency stability (the Hong Kong Dollar is tethered to the American Dollar) and diminishing supply of land.

Furthermore, because these factors have remained stable for a long period of time, house prices began to increase in direct correlation with more market activity and has not eased since.

As the market is now at boiling point, Hong Kong’s Government have been trying desperately to stifle the market’s growth before the bubble bursts, bringing in measures as early as 2010 in an attempt to control the market.

Firstly, Government officials targeted high-value properties in an attempt to suppress interest at the higher end of the market, adding an 8.5% stamp duty levy on all properties worth over HK$20m (similar to the one proposed by the Labour Government in the UK for properties over £1m in an attempt to control their own unaffordable market). The next measure aimed to diminish the activity happening in the wider market, as November 2010 saw the introduction of a ‘flip tax’ of 15% on all properties resold within 6 months. Two years later saw the imposing of the Buyer’s Stamp Duty (BSD), a 15% tax on property purchases made by expatriates, with the theory behind this to dissuade non-nationals from investing in property that would otherwise be used for much-needed owneroccupation. The latest cooling measure was imposed in February 2015, which required potential buyers to provide a much larger down-payment on any property worth HK$7m (£619,431) or less.

It seems like the implementation of these measures, designed to cool off the vastly overheated market, certainly lowered demand for higher-value properties in Hong Kong, but did nothing but increase demand for smaller and more affordable mid-market properties as a result. Therefore, prices have still continued to grow and the market is still active—the first 4 months

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Area: 1,104 km2 Population: 7,234,800 Density: 6,544/km2

Hong Kong

of 2015 alone saw transactions in the Hong Kong property market soar 37%, with sales value growing 54% to HK$150.8bn. Furthermore, the same quarter saw mortgage loans skyrocket 19.1% to HK$20.6bn compared to a year ago. The Chief Executive of Hong Kong Leung Chun-ying (tantamount to the city’s mayor or prime minister) even publicly admitted that the cooling measures had failed, pledging to increase land supply from the 75% of the city currently not developed in order to ease demand.

What’s next for the Hong Kong housing market?

Many analysts are in agreement that Hong Kong’s current level of house price growth is vastly unsustainable and that the city will see a decline in property prices in the coming year as the market begins to cool. Since 2011, the number of apartments under construction has risen sharply as Chief Executive Leung makes good on his promise to release more land for development. It is estimated that construction increased 40% by 2014/15, with 15,000-18,000 units set to be completed in the next few years as a result. This vastly increasing construction culture is in line with Leung’s overall objective to add a monumental 480,000 units to the city over the next 10 years to ease the overheated market once and for all.

A senior property analyst at Barclays, cited in CNBC, recognised the fundamental problems taking hold of Hong Kong’s housing market, but is optimistic about the city’s future: “For many years, Hong Kong had a housing supply-demand imbalance [but] since Leung’s term began, we’ve seen the Government be proactive in increasing land and housing supply in the market”. With the precarious house price crisis in Hong Kong having reached its peak, it seems that finally the market is showing signs of recovery, though it may take some time to reverse the sentiments of Hong Kong homebuyers, who naturally remain sceptical about affordability in the city because of the failures of the past. However, experts are sure that prices in Hong Kong will fall in the future, with USB noting in September 2015 that property prices in the city will decline by about 25-30% by the end of 2017. A spokesperson for USB expects the house price falls to “come gradually and over multiple years” to get back to sustainable levels, but it could be said that these declining prices—whilst fundamentally good news for Hong Kong residents looking to get their foot on the property ladder—could be synonymous to wider problems in the economy.

The city could potentially face an economic slowdown as a result of declining house prices, which has kept the Hong Kong economy buoyant for so long. Furthermore, Hong Kong’s future is tethered by the performance of its home nation China, and the decline of the mainline China economy could spell further trouble for the city—the decline of retail sales, network consolidation from major brands and a steadily-growing unemployment rate across China could add to the worries of Hong Kong.

However, from a property standpoint, it could be that these measures are seen as a good thing. Knight Frank attests: “Increasing supply, rising interest rates and slower economic growth in China could motivate developers and landlords to cut prices”, which means the beginning of the end of Hong Kong’s housing bubble. Things look set to settle in the next decade for the city, especially in the wake of the the recent increase in U.S. interest rates by the Federal Reserve—this marked the first real sign of Hong Kong’s housing recovery, as rising interest rates will cool the mortgage market as the cost of borrowing becomes more expensive.

Whilst speculation of economic issues in the future for both Hong Kong and its wider economy of China are very real threats on the horizon, Hong Kong’s housing market as it stands still tops the tables as the most expensive residential location at $1,416 per square metre, and is still vastly unaffordable. If expert predictions come true, the decline in house prices in the city of Hong Kong will happen steadily over a number of years, easing the city back into the realms of affordability.

In the meantime, until this decline becomes a reality, Hong Kong will still be seen by many as a playground for the rich—boasting exponential house prices, more luxury Rolls Royce cars per capita, and its status as the largest metropolis for luxury goods and status symbols in Asia, the only people who can currently afford Hong Kong’s eye-watering prices are richer clientele. As the bubble slowly starts to deflate, this will start to change again in favour of the average homeowner, but until then, Hong Kong has to bask in its status as the city with the world’s most expensive property market and all the ideologies of luxury, wealth and prestige that comes along with such a title.

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THE FINAL FRONTIER Space Tourism – The ultimate luxury holiday destination

Words : Christine Schulz | View : Wanphen

Luxury knows no limits these days. The rich are always on the look-out for their next extravagance – be it expensive clothes, ostentatious homes, flashy cars or exotic holidays. In fact the richest 1% of people in the world have an overall worth in excess of USD$1.9tn – almost half of the world’s total wealth.

Yet that number could change in 2016, with companies such as Orbital Technologies, Space X, Virgin Galactic, World View Experience and Space Adventures promising to launch regular commercial flights into space, enabling more “affordable” space travel and vacations for us non-professional astronauts.

So going on holiday as one of the world’s wealthiest people is on a completely different level than the standard annual beach holiday; think less all-inclusive packages and booze cruises, and more private islands, luxury hotels, rare food and beverages, private jets and super yachts.

Orbital Technologies’ ‘Hotel in Heavens’

When someone has everything, they are always looking for the next big thing – something that’s bigger and better than before. As we enter 2016, we might have just found the newest addition to the ultimate bucket list: space tourism.

Since the beginning of time we seem to be fascinated – almost obsessed – with the concept of space, stars, planets and other galaxies beyond our own. Space has inspired countless theories, novels and big blockbuster movies. Yet, from the launch of Sputnik, the first artificial satellite to be propelled into space in 1957, and Yuri Gagarin becoming the first human to orbit Earth, a mere 551 people have had the chance to travel above our atmosphere straight into space.

Approximately six years ago, Russian company Orbital Technologies announced the opening of the world’s first commercial space station, the so called ‘Hotel in Heavens’, in 2016. For an eye-watering USD$1million (ca. £663,000) each, seven people at a time can travel up to the four-room space hotel, which is located a total of 217 miles above the Earth’s surface.

Just to fly on the rocket alone, a Soyuz rocket to be precise, space tourists will have to part with a mere £500,000.

The views from the world’s first space hotel will be truly spectacular: as the aircraft travels approximately 17,500 miles an hour, circling the planet every 90 minutes, you would be able to see not only one, but as many as 16 sunsets and 16 sunrises a day, meaning that throughout your five-day stay at Hotel in Heavens, you would be able to see the sun rising and setting 80 times.

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First launch: 2002 (Soyuz TMA-M) Status: In service Mission: Launch vehircle for International Space Station

Soyuz Rocket, Kazakhstan

For the princely sum of USD$1million, guests on board the Soyuz will expect the crème de la crème of vacations. So how luxurious is this five-day stay in planet Earth’s low orbit?

The company behind Hotel in Heavens, Orbital Technologies, has announced that there will be a number of rules and restrictions on the world’s first commercial space station. Guests will dine on food which has been prepared back home on the surface and re-heated again in a microwave. In terms of drinks, you will have to refrain from exclusive bottles of champagne and wine, and instead indulge on iced tea and fruit juices, as alcohol is strictly prohibited up at the hotel.

In your personal quarters, the showers will be fully sealed to prevent water escaping from the shower room and floating around the galactic abode.

When it comes to getting your beauty sleep, space tourists will be tied down to limit headaches as a result of floating around in zero gravity, with the option between their beds being either vertically or horizontally inclined to their line of flight.

You will however, as a visitor of Hotel in Heavens, still be able to watch TV and even use the internet if you want to. And don’t forget the amazing view from seeing our Blue Planet from above – an experience that, for some, will make the price tag more than worth it.

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In addition to catering for commercial space flights, Orbital Technologies has committed that the hotel will enable space-based microgravity research, and it would also serve as a backup and emergency safe haven for astronauts on the International Space Station (ISS). Although initially set to be launched in 2016, it is now estimated that it will be closer to 2020 when Hotel in Heavens opens its doors.

Richard Branson’s Virgin Galactic As the face of Virgin, Richard Branson is a global entrepreneur who, thanks to his strong personality and determination to create commercial space flights, is perhaps one of the most famous people in the space tourism arena.

What Virgin Galactic is promising its customers are trips into space and back with its own rocket fleet, SpaceShipTwo. For a quarter of a million US dollars you can jump aboard a SpaceShipTwo, becoming a member of the Future Astronaut community and experiencing the weightlessness of space.

After take-off, the rocket’s pilots will manoeuvre the spacecraft into position so all passengers are able to get the best possible view of planet Earth and experience the infinity of our solar system. The stay in

Virgin Galactic, New Mexico

space will only last a few minutes, until team members and customers have to return to their seat and prepare for re-entry.

Before you are allowed to step foot on SpaceShipTwo and experience a zero gravity environment, each astronaut has to participate in a three-day preparation event at Spaceport America, the world’s first purpose-built commercial spaceport, to mentally and physically prepare yourself for the adventure ahead. Here you will become more familiar with the spacecraft and crew, as well as learning what to do in case of an emergency.

In October 2014 Virgin Galactic unfortunately experienced a major setback when a SpaceShipTwo rocket crashed during a test flight and the pilot lost his life. Since then, no exact date has been announced for when the company will commence its commercial flights into space. In a recent interview however, Branson said that a new version of the SpaceShipTwo rocket would test-fly in February 2016; meaning that this could be the year some of the 700 people who already paid for the experience are finally able to go on their trip of a lifetime.

beyond the Earth’s stratosphere. To date, all of its clients combined have travelled more than 36 million miles and spent almost three months in space. For their services, Space Adventure has average prices of USD$20-$40 million.

So what services does Space Adventures offer?

The least expensive option, Space Adventures offers is a zero gravity flight, where you can experience weightlessness for as long as seven minutes without leaving the stratosphere. Additionally, Space Adventures offers a suborbital spaceflight, where you will fly 62 miles above the planet, experiencing weightlessness, as well as taking in spectacular views of Earth.

With Space Adventures you can also book a holiday the International Space Station (ISS) – all it takes is approximately USD$50million.

Customers travel up to the station in a Russian Soyuz aircraft, the same rocket that brings them back home. Here you can live and work alongside professional astronauts for up to two weeks.

Space Adventures Established in 1998, the Washington-based company Space Adventures is the first and only private organisation to have ever sent non-astronauts

For a staggering USD$150million you can also go on a circumlunar mission and become the 25th person in the world to have ever left Earth’s orbit and travel to the moon. You could come as close as 100km

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World View, High-altitude ballon

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to the Moon’s surface in a rocket, together with one other commercial astronaut and one professional astronaut as a crew member. You will be able to see the far-side of the Moon and even experience the view of the Earth rising above the Moon. The first circumlunar mission is expected to launch in two years’ time, in 2018.

For those whom travelling to the Moon and back just isn’t enough, the company has announced an addition to a ‘standard’ space journey: a spacewalk. Dressed in a full astronaut suit, complete with life support, you will be able to leave the spacecraft and experience the galaxy first hand.

A dream-come-true for many, the lucky few can experience scenes from blockbuster movies such as Gravity and Apollo 13 and float about in the nothingness of space – all whilst securely connected to the spacecraft of course. An official date for the first spacewalk has not yet been confirmed; however Space Adventures repeatedly reports a huge interest into this future service.

Before going on any of the aforementioned space adventures, the company requires every astronaut-to-be to undergo intensive training.

This includes getting used to a standard Soyuz spacecraft, a session in the centrifuge, a Sokol spacesuit familiarisation, and ISS simulator training, spacewalk training (both underwater and on land) and last but not least a space food tasting session. After all – safety and knowledge come first.

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World View Enterprise For those amongst us that don’t have millions of dollars to spare, the World View Experience company, located in Tuscan, Arizona, is launching a new service this year: for USD$75,000 (£45,000) you get a seat on a balloon-based space capsule, which travels 100,000ft into the Earth’s atmosphere.

Each trip will last 5-6 hours and see a total of six passengers and two crew members go up into the skies. Throughout the whole experience passengers have Wi-Fi access allowing for real-time sharing on social media. Once you reach the full height of your trip, you will be able to enjoy breath-taking views over planet Earth for a total of two hours. Once the balloon-like capsule descends again, it is predicted that the crew will land within a 300 mile radius of the take-off point.

One of the leading brains behind World View Experience is NASA’s former head of science Dr Alan Stern, according to whom similar technology is being used for the capsule voyage, as when Austrian skydiver Felix Baumgartner did the space dive for Red Bull on 14th October 2014. If necessary, the capsule can be operated completely from the ground with basically zero risk of it disappearing into space, as it’s designed to skate just above the atmosphere, without ever exiting from it.

Space Shuttle, Florida

As you can see there is plenty in store for the adventure hungry of us who always dreamt of going to space and experiencing what it is like to be a real-life astronaut – that is of course if your bank balance allows it.

Ever since space travel has been taken out of the hands of government organisations and given to private firms and individuals, the possibility of space tourism has become a reality – an expensive reality for certain, with only a select amount of businesses actually on their way to realising the dream of commercial space travel. For many though, space travel is the future, and the more organisations become involved, the more competitive space tourism will become, which in turn, will lead to lower prices.

And who knows, within the next couple of decades, it might be possible that you will be saving up to realise your dream of getting aboard a spacecraft, fly into space and look over the Earth and the endlessness of the galaxy. We will all be able to experience the overview effect – a psychological phenomenon reported by many space travellers who saw our planet for what it really is: a tiny blue spot, finite in its nature, where international boundaries become blurred and conflicts that divide people become unimportant – almost trivial. It is safe to say that travelling to space would definitely be a trip of a lifetime. Because after all, who wouldn’t want to tell their family and friends the story of when they became a real life astronaut and travelled into space?

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For more information, contact: Tel: 0161 772 1394 Web: www.fortisdevelopments.com

CITY OF THE FUTURE Singapore, a diverse country rich in history, culture and economic success Words : Christine Schulz | View : T.Dallas

Located almost exactly on the equator, Singapore is at the southernmost tip of continental Asia. It is a city-state that consists of a main diamond-shaped island and numerous small islets. Singapore is known under a multitude of nicknames such as Lion City, Garden City and more recently Red Dot, simply because despite its comparatively small size on the world map, the city-state was able to achieve significant accomplishments. Amongst other things for example it has been awarded a range of impressive titles, such as:

including Buddhism, Hinduism, Taoism, Islam and Christianity.

Whilst the Singaporean government has long insisted on everybody on the island using English as the official language of the nation - it is even the main language used in schools, at work as well as in the government there are three additional languages that one will often hear in the city-state: Mandarin, Malay and Tamil.

- “The easiest place to do business” by the World Bank - The most “technology-ready” nation by the EIU - The city with “best investment potential” by BERI - The 2nd most competitive country by WEF - The 3rd largest foreign exchange centre - The 4th largest financial centre - The 3rd largest oil refining and trading centre; and - One of the top two busiest container ports since the 1990s

The English that is being used on the island nation however can be quite confusing, as many locals speak a hybrid language known as Singlish.

Due to a large proportion of local people having an international background, locals have developed a mixture between their own accents, grammar and words and English - a mixture of languages unique to the island and its inhabitants. Singlish tends to be the language spoken in the streets of Singapore between Singaporeans themselves, in particular in informal situations, as it signifies a sense of casual intimacy between people.

Today, Singapore is made up of a variety of ethnic groups such as Chinese, Malay and Indian, meaning that the city-state is truly rich when it comes to cultural diversity. Thanks to the multitude of various cultures calling Singapore their home, the nation features all major religions

Singapore truly is a diverse country, rich in history, culture and economic success; However the city-state hasn’t always been known as such a thriving global business hub. Global Property Scene takes a look at the evolution of Singapore, one of Asia’s leading tiger economies.

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Super Tree Grove, SIngapore

The History In 1819 the British took control of Singapore as they occupied the little city-state as a trading post for the former British East India Company. Back then, Singapore resembled more of a wild jungle filled with swamps than a leading industrialised nation. In its early beginnings, over a million Singaporeans lived in so called ‘squatters’ (or ‘kampongs’ as known by the Malay), which were crude wooden houses in villages. Becoming a strategically located port city, the Southeast Asian trading post of the British East India Company was the turning point in the history of Singapore. It set the foundation for the success of the nation we know today.

During World War II however (in 1942 to be exact), Singapore fell into the hands of the Japanese and was rebranded as Syonan-to. During the Japanese reign, Singapore went through a difficult time, as its inhabitants had to endure food shortages, hyperinflation, slavery and even mass executions – which really sent Singapore’s success as a major global port into a backwards spin. After a few years, the UK took control of Singapore back into its hands and made the island its colony. However as the British failed to protect the country against Japan, the nation saw a rise in strong anti-colonial and national sentiment within the Singaporean

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population. This eventually led to Singapore joining the Federation of Malaysia, together with the Federation of Malaya, North Borneo and Sarawak.

However, over time a growing tension developed between the Chinese and Malay in Singapore as the Chinese outnumbered the Malay on a three-to-one basis. Based on these numbers, the Malay feared that their heritage, along with their political ideologies and beliefs were being threatened. Relationships between the different cultures began to tense up and riots started to occur on a regular basis – so much so that on 9th August 1965 Singapore had to formerly declare its independence – a step that was rather traumatic for many Singaporeans, as they were afraid that Singapore wouldn’t be able to make it on its own.

At this moment in time, a large percentage of Singapore’s population remained unemployed and more than two thirds of it were living in slums and squatter settlements on the edge of the city. Additionally, the city-state was located right next door to two large countries which Singapore was on unfriendly terms with: Malaysia and Indonesia.

Despite the seemingly unfavourable and difficult conditions it had to face, Singapore was able to make it by itself: it developed as a nation and

Marina Bay, Singapore

attracted huge sums of inward investment. Housing Development Board (HDB) homes begun to pop up all over the city-state as part of the nation’s rehousing policy to raise the standard of living there. The majority of HDB were tall buildings that offered Singaporeans the chance to purchase affordable property and introduced many who previously lived in slums to flowing clean water. In fact this Singaporean housing policy was so successful that Singapore was able to proudly announce a lack of homeless people, squatters, poverty ghettos and ethnic territories – truly a huge accomplishment.

In fact a lot of important key issues were solved: the city-state didn’t have to worry about unemployment, high crime rates or a disobedient population. But how exactly did the country achieve this?

Many would describe the measures taken by the government as highly restrictive and controlling: the People’s Action Party (PAP), who has won every election with a large majority of votes, took control of the Parliament.

Under their rule a number of laws and regulations have been put in place.

For instance, Singapore’s appointed judges retained the right to impose penalties such as caning and even the death penalty particularly for offences that have to do with drug trafficking, intensive corruption and murder.

In order to attract foreign investment, the city-state needed to create an optimal environment, free of corruption, crime and additionally become a country that had a low tax policy and no unconstrained unions. In other words in order to succeed, Singapore’s population had to suspend a large extent of their freedom to receive a more autocratic government. PAP took control of all independent labour unions and individual people who seemed to pose a threat to the national, political and even corporate unity of the country were quickly dealt with - mostly by being jailed.

Compared to its neighbours and other Asian states, Singapore rapidly transformed into a city-state that benefited from political and economic stability as well as predictability. Furthermore, instead of banishing foreign investors and their capital, Singapore welcomed them with import tariffs and tax relief. The reasoning behind the business-friendly environment in Singapore was simple: as foreign companies would bring with them capital, technology and skills, Singapore’s population would learn and eventually replicate.

Whether or not Singapore’s model of giving up certain personal freedoms in favour of businesses was politically correct remains debatable – regardless however, it is undeniable that since these measures came into action, Singapore has truly flourished as a nation. In 2003 for example it

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became the first Asian country to sign a free-trade agreement with the US, and the second country in the world to regulate virtual currencies such as bitcoins to prevent money-laundering in 2014.

overall shipping containers are trans-shipped through there, including half of the world’s supply of crude oil. In other words, thousands and thousands of ships stop at the Port of Singapore and make their way to over 600 other ports in a total of 123 countries.

Singapore Today 2015 marked a special year for the small city-state: it was the year in which Singaporeans celebrated 50 years of being an independent state.

The Singapore we know today has truly transformed into a nation with a population that has been named one of the wealthiest in the world. Many companies have established their Asian headquarters here, so much so that the city is filled with big corporate names such as Microsoft, American Express, BBC, ESPN, the Discovery Channel, Bain & Co, Capital Land and many more. In fact, there are in excess of 3,000 different globally operating corporations located in Singapore, which in return account for more than two thirds of the nation’s manufacturing output and direct exports.

Singapore can be described as an extremely industrialised society in which trade remains a vital part of its economical success. Hereby the Port of Singapore - the world’s most in demand trans-shipment port - plays an important part. Regarding the amount of cargo being handled, it has surpassed the likes of Hong Kong and Rotterdam, second only to the famous Yangshan Deep-water Port in Shanghai. A fifth of the world’s

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The port is absolutely pivotal to Singapore, as the island itself is short of land and its own natural resources. Nevertheless, the island has the advantage of being located nearby the resource-rich Malayan mainland, where rubber and petroleum are produced highly cost-effectively and then sent on their way over Singapore to various destinations worldwide.

Other business sectors of course have grown significantly over the past decades too, including the likes of banking. Assets which were formerly held in Switzerland for example, are being moved to the Asian city-state as the Swiss are raising their taxes and Singapore remains a tax heaven. For instance if you spend less than 183 days in Singapore, you do not have to pay any tax at all. Even if you spend the majority of the year there, you will pay only a maximum of 20% of your own income - considerably less than in other developed countries.

What is really impressive is the fact that besides its total land area of a mere 433 square miles, the total GDP produced by the Singaporean workforce is in excess of USD 300 billion, more than in three-quarters of

Merlion fountain, Singapore

the world. This means that the nation has the 7th largest GDP per capita on Earth, with a sixth of households possessing USD 1 million in cash savings.

It is therefore no surprise that the city has made it to the top of most desired destinations for expats for relocation and opening businesses.

Research by HSBC shows that Singapore comes out as the best place overall for migrants as they can not only enjoy an excellent quality of life, but also financial wellbeing and great career prospects. What expats seem to value the most is the extremely safe environment, the strong local economic prospects and the quality of life for their children.

To match its high concentration of foreign workers and multinational businesses, Singapore not only has great public schools, but also offers a range of excellent international schools which follow the American, British and even Australian programmes of study. Additionally some of them even offer the International Baccalaureate. However these international schools come of course at a higher price, with tuition fees ranging from SGD 23,369 to SGD 29,195 (£11,613 - £14,511) annually, sometimes coupled with extra fees for boarders (£13,536 each year) and ‘development levy’ of SGD 6,260 (£3,111) in a child’s first year at the new school.

Another factor valued by many migrants is the healthcare system on the island, which has consistently been voted amongst the best on the planet.

The 2014 Bloomberg report even ranked it as the world’s best healthcare

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system for efficiency. Although many expats choose private healthcare as they prefer the reassurance of primary care in private hospitals, both public and private hospitals provide efficient and excellent professional services.

What is particularly interesting is that research by HSBC has highlighted the fact that 78% of expats are highly confident about the local economy, which by any means is an amazing result. Many expats are also keen on the fact that as the economy is strong, there are excellent opportunities for career and skill development.

In fact the Asian city-state has been voted one of the best possible places for entrepreneurs to start a business, as the country offers excellent business conditions, low tax policies and an excellent local and global infrastructure. This pro-business environment is furthermore accompanied by easy and quick entry and exit options in the form of visas and passes. Business owners benefit from Singapore’s unrestrictive immigration laws and can qualify for a various passes, such as the EntrePass, which allow them to enter the country together with their immediate family members, as long as their business continues to grow successfully.

Thanks to its importance on a global scale, the amount of multinational businesses located within the city-state and the high number of foreign workers, major shopping centres and department stores don’t just accept the Singapore dollar, but instead also the US and Australian Dollar, Chinese Yen as well the British Pound - a truly international state.

Modern Day Challenges Even as such a highly developed city-state, modern day Singapore still faces a number of challenges.

According to Singaporean government statistics for 2014, approximately 1.32million people out of Singapore’s overall population of 5.6million are foreign workers. These international workers are part of the labour force that lives in luxury and it is oftentimes the locals that fall into the low income bracket with less than USD 1,100 a month (ca. £700). Of course this has led some locals to develop negative feelings towards migrant workers.

To address this tension in its early phase, the government introduced a new law that requires employers to seek two weeks for local workers for positions that pay under SGD 12,000 (USD 8,760).

This issue is particularly fuelled by the fact that Singapore is increasingly becoming one of the most expensive cities to live in. Housing, international schools, medical treatment, alcohol, and cars are currently all exploding pricewise, followed by the likes of road tax, maintenance fees, petrol and parking charges. A luxury two-bedroom apartment for example right in the heart of the city centre can be rented for SGD 10,000 (ca. USD 7,300) per month. At the same time a brand new BMW i320 sedan, costing SGD 223,800, requires a Certificate of Entitlement, which allows an individual to own a car in excess of SGD 60,000 for a ten year permit. It is no surprise then that Singapore was voted the world’s most expensive city for 2015 according to the Economist Intelligence Unit.

However, as an expat there are ways to ensure that you won’t feel the impact of the rising prices in the city-state: chances are that if you’re going to Singapore you are going there either to start up your own business or work for one of the many world renowned employers. That’s where you can and should negotiate benefits with your employer to ensure you are receiving packages tailored to your needs and requirements.

50 years after becoming an independent state, Singapore has obviously come a long way from once consisting of slums and terrible infrastructure coupled with cultural tensions. It is now one of the wealthiest nations - an absolute key player in international trade. Due to its intensive history the island has managed to develop a truly unique identity.

Of course the political methods with which Singapore became what it is today remain debatable, but it is possible to say that it has flourished over the past decades: culturally and economically. Singapore truly is an intriguing nation that has managed to overcome barriers for international trade, extreme levels of poverty and a lack of natural resources and land an Asian tiger economy to watch out for.

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Flower Dome, Singapore

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MAKING A HOUSE A HOME Top 5 Interior Design trends of 2015/16

Words : Rachel Sharman | View : S.Borisov

Interior design trends can seem like a tricky-to-follow bunch. Increasingly like fashion, what is en vogue one week may seem antiquated the next.

This is, in part, thanks to the internet’s increasing importance in interior design and how fast the web works.

mid-century designs are having quite the moment right now, but it would be foolhardy to say the internet doesn’t have some sort of influence over current interior design trends. Whether that’s a good or bad thing is up to you to decide.

Then there are the thousands of independent home retailers selling their wares over the internet, feeding demand for unique and themed pieces. Or websites like Pinterest, where people can ‘pin’ their favourite pictures to create inspiration boards, and YouTube, where videos of home ‘hauls’ see people showing off the results of their latest shopping sprees.

Ultimately, the internet has broadened the horizons of interior design for everyone.

For the first time, Global Property Scene has rounded up some of the most important property trends from 2015 and some predictions for 2016. Of course, fashions come and go, and ultimately the best piece of interior design advice is to choose what you like. However, if you’re looking for a little help or inspiration here are some current trends to keep an eye out for: 1. Furniture Styles

Plus, the internet has opened up our homes and shown off our interior design preferences like never before. Through the photos we post online, people can see into our homes, whether purposefully featured in perfectly posed still-lifes or even just in the background of other photos.

Of course, interior design’s existence far surpasses that of the World Wide Web. For example, Victorian furniture still ebbs in and out of fashion and

One of the most popular décor styles in 2015 was “Mid-Century Modern.”

Last year, people were furnishing their homes with sleek pieces with a 1950s style. The similar Scandi and Nordic types of furniture were also in style. All share the aspects of being smart-looking in an understated way, practical and erring on the side of minimalist. None look set to become dated in 2016.

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These styles’ first wave of popularity in the 1950s have been accredited to being a reaction to the end of the Second World War. They were seen as modern and cutting edge at the time, those of a new, forward thinking era. However whilst these days the classic mid-century modern and scandi staples such as the tulip and egg chairs may seem more nostalgic than radical, that doesn’t make them any less popular.

Another popular style of furniture, as briefly touched on earlier, is anything unique or artisan. A handmade, one-of-a-kind piece is sure to grab attention and can bring a whole room together. It also fits in with the current trend towards sustainability. A quality, hand-crafted piece is sure to last longer than a plywood equivalent. Plus, with more stock available over the internet, people are able to support small retailers from around the world and can also make the choice to shop in a more ethical or environmental way.

Finally, one of the styles of décor many experts predict to flourish in 2016 is the introduction of smart furniture into our homes: clever kitchen appliances which have hundreds of different settings depending on how

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you like you food; lights, heaters, alarms and surround sound systems which can be controlled remotely by iPads; in-home surveillance systems for when you’re out of town. Smart furniture gives home owners great control over their surroundings and provides endless possibilities going forward. However, whether the idea will see mass popularity remains to be seen, as some people dislike the idea of an automated house.

Perhaps in another 60 years, our attempts at modernity will be seen as quaint.

2. Contrasting Themes These days it is no longer fashionable to decorate your rooms in one style of furniture or worse a sole pattern throughout. Instead, interior design experts are increasingly leaning towards a stylish mismatch of different pieces and themes.

One of the most popular ways to emulate this is by furnishing your rooms with both unique and mass-produced wares. Although some may dream of being able to fill their houses with one-of-a-kind or history-laden pieces

Mid-Century Modern

of furniture, most don’t have the necessary budget.

A popular recommendation to remedy this is to choose a single expensive eye-catcher and fill the rest of the room with affordable, high-street items. Crucially, cheaper does not have to equate to tacky.

Shops around the world have their own ‘home’ sections which offer plenty of charming, well-crafted and contemporary furniture. A smaller budget definitely does not mean a less stylish home. After all, many believe that Ikea changed the world of interior design for the better with their flat-pack, cheap choices. (Although if the thought of bumping into the same BILLY bookcase in your neighbour’s house makes you shudder, there are plenty of DIY tutorials available to help you add your own touch to popular furniture.)

The juxtaposition possibilities do not end here. Another popular idea sees modern and minimal styles finding themselves next to period pieces.

Picture a Chesterfield sofa with an abstract print on the wall, or the opposite-a modular seating arrangement next to a traditional portrait.

Then there is the idea of mixing industrial chic with comfort. Concrete is

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seeing definite popularity this year, whether as a flooring or as a brutalist feature. But then again, people like their homes to be comfortable too, and will often compensate for the harshness of concrete with plush fittings.

A final way to incorporate contrasting themes is to bring the outdoors inside, with natural décor, furniture, indoor plants and modern, big windows letting in plenty of light being in high demand. Likewise, the indoors is going outside too as 2015 saw people spending unprecedented amounts on garden furniture in the UK such as full kitchens, hot tubs and pizza ovens alongside traditional patio furniture.

3. Simple Pieces (with a little bit extra) Somewhat continuing on with the last theme, one of the major interior design trends seen in 2015 and set to go into 2016 is the creation of simplistic, classic interiors with a touch of quirk. It’s a similar idea to contrasting themes, but focuses less on a fashionable equilibrium of different styles and more on having classically clean and simple rooms with a little something more.

One of the most popular ways this is used is through colour schemes.

These days, people often choose neutral palettes of whites and greys (as opposed to the once-favoured magnolias and creams which can seem dated) and pair them with a unique accent colour. These accent colours can be as bright and wild as people dare, and can be featured on anything from linens or accessories to bold feature walls.

Another particularly popular tip from interior designers for adding something a little bit extra to your kitchen is by investing into a decorative backsplash. Whether the tiles don’t quite match, are bright colours, or have exotic and eye-catching designs, backsplashes are becoming more of a focal point than ever before. If you’re nervous about introducing a loud colour to your kitchen, one recommended idea is to choose tiles in unusual shapes or maybe stacking them diagonally.

Furniture-wise, one of the easiest ways to emulate this trend is by finding unique and creative ways to use everyday items. Mirrors are an oft cited example - according to designers they should no longer exist for their basic function alone, but to act as wall art or be strategically placed to make the whole room seem bigger. Of course, there is only so much whimsy something like a regular table can take, but it’s certainly something to bear in mind when embarking on an interior design task.

4. Fashionable Colours & Materials A huge part of interior design is not only finding the right furniture and fittings but also finding them in the right shade. Just as everything else, colours and materials come in and out of fashion. However, whilst it’s relatively easy to incorporate a few key pieces of clothing in the right colours into wardrobes, it’s not so easy to repaint a room or buy new furniture. Therefore, the ‘in’ colours of interior design are not usually so bright or bold.

However, there was one colour in 2015 which appeared to capture the nation’s heart, and that is blue. DIY-retailers B&Q recorded the most popular paint colours from each of the UK’s regions to find that in all but one region (the North East), people preferred cooler colours, with blue being prevalent across the board. Scotland and the South East chose brighter blues reminiscent of the tropical oceans, whereas the North West, Yorkshire and South West chose more subdued shades.

Interestingly, the West Midlands and East Midlands chose Sweet Dreams Grey and Grey Slate respectively. As briefly mentioned earlier, one of the biggest shifts in recent years has been the shift from cream, magnolia and beige to grey and white. It is not unusual for contemporary, new-build homes to be completely white-after all it is the colour of minimalism and modernism. It’s crisp and clean, and one of the cheapest emulsions to buy.

When choosing an on-trend colour, it is also worth looking for the current ‘Colour of the Year’. The companies Dulux and Pantone are two among many which release their favourite and most anticipated colours for each year.

The UK’s leading paint brand, Dulux, has chosen ‘Cherished Gold’ for 2016, a darker gold which according to them is “still bright enough to attract attention while also subtly referring to the past and the colour of the earth”.

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Teal Touch

Britain’s Favourite Paint Colours (2015) Scotland - Teal Touch (Dulux) Northeast - Bumble Peach (Colours) Northwest - Blue Reflection (Dulux) Wales - Sarong Blue (Colours) West Midlands - Sweet Dreams Grey (Colours) Yorkshire - China Blue (Colours) East Midlands - Grey Slate (Colours) Southwest - Sung Blue (Craig & Rose) Southeast - Blue Capri (Colours) London - Soft Green (Craig & Rose) East - Duck Egg (Colours)

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Pantone is a colour company, with no particular focus on interior design but instead over-arching fashion in general. 2016 saw them choose two colours of the year for the first time-Rose Quartz (a barely there pink) and Serenity (similar to periwinkle blue). Their reasoning was a little more psychological.

“As consumers seek mindfulness and well-being as an antidote to modern day stresses, welcoming colours that psychologically fulfil our yearning for reassurance and security are becoming more prominent. Joined together, Rose Quartz and Serenity demonstrate an inherent balance between a warmer embracing rose tone and the cooler tranquil blue, reflecting connection and wellness as well as a soothing sense of order and peace.”

Interestingly, the Pantone colours are similar to those seen on the B&Q map- Northeast’s Bumble Peach matching Rose Quartz and Yorkshire’s China Blue matching Serenity in particular. Despite Pantone being an American company many Brits won’t have heard of, their chosen colours are clearly popular across the pond, once again proving the globalisation power of the internet.

But these are wall colours. As for flooring, the number one choice in 2015 was for wooden floors. Wooden floors are currently much more fashionable than carpet, in the same way painted plaster is preferred to wallpaper. It’s all about stripping back to the basics, which leads us onto one of 2015’s favourite materials- concrete, which is definitely having a revival.

However, this does not mean that it’s currently on trend to live in a white-walled, concrete-floored prison-block. Lavish marble and expensive, warm metallics like brass, bronze and gold are all currently fashionable and add a luxurious aspect to homes, again, bringing back that theme of contrast.

5. Broken Plan The fashion of having lots of little, separated rooms was over a good few decades ago. The idea of having one room per purpose (separated kitchen, lounge, dining room etc.) does not appeal to modern interior designers who prefer the light and large rooms created by knocking a few connecting walls down. However, to claim that open plan living is a solely 2015-2016 trend would be ignoring the vast majority of the 21st century, which was also favoured this style of living.

Therefore perhaps it’s no surprise then that some sources see this once again changing. The architect Mary Duggan, who has won numerous industry awards and is currently working on a £2.4 million office conversion in Shoreditch, has coined the term “broken-plan living” to describe the latest phenomenon in home layouts.

This is the idea of creating a few separate spaces in the home to suit 21st century life. For example, home offices are more in demand as people are increasingly working away from the offices; older children want more rooms and independence; libraries are becoming more popular as people want technology-free spaces. Of course, all of this sounds rather blasé, and the idea of adding a room here or there doesn’t really work in a normal house. But it’s worth keeping this shift in-mind if you have any plans to knock down walls in the near future. However, this final trend is rather new and though some say is poised for mass popularity in 2016, it may still take a few years to become a norm.

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Open Plan Living

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FLAT PACK HOMES Whilst a typical method of house building in most developing countries, how popular are self-build homes in the developed world, and will they prove the answer to the UK’s housing crisis?

Words : Samantha Jones | View : Vasilyev Alexandr

Widely thought of as the domain of hippies, eco-warriors and religious communities, the art of building your own home is not as rare, or as costly, as you may think. As the world’s population surges, so too does the demand for new homes, with many people now turning to less-traditional forms of housing to allow them that first step on the property ladder.

The mainstay of housing markets in many countries, self-build homes are looked upon with differing views the world over. In Japan, particularly outside of the main cities, houses are actually presumed to have a short lifespan and are re-built after a few decades. In Australia, where there is certainly no shortage of land, and in the US, where there is an abundance of timber, over 40% of the population build their own homes. In Europe this figure is even higher, standing at 60% in Germany, France and Italy, and a staggering 80% in Austria.

Yet here in the UK, one of the strongest and most popular property markets in the world, self-build properties are certainly not the norm, with less than 10% of all homes built annually fitting into this category. But what do we actually mean by self-build, and why is there such an aversion to it in the UK?

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The phrase ‘self-build’ refers to you obtaining planning permission for a plot of land, and then building a home on that plot. Whilst the act of designing and physically building your own home can be a costly exercise in both time and money, the majority of self-build projects overseas are for pre-constructed designs, built in sections in a factory and then shipped to the desired location and put together on-site.

Prefabricated buildings – a very British design A quick Google search, no matter your location, will throw up a host of companies selling pre-fabricated housing, many with Scandinavian origins.

However the world’s first documented ‘prefab’ as they are more commonly referred to, was built in the UK and transported thousands of miles across the world to Australia in 1833. Intended for his son who was emigrating, London carpenter Henry Manning designed the cottage and had the individual components constructed in the UK, then shipped across to be built in-situ. Consisting of pre-cut wooden posts and panels, the entire dwelling could fit into a ship’s hold, with the majority of each piece being light enough to be carried by a lone man. Manning’s vision of “whoever can use a common bed-wrench can put this cottage up” was

Container Office, UK

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realised when an advert for ‘portable colonial cottages’ featured in the 1837 edition of the South Australia Record, prompting hundreds of similar cottages to be sent to Australia in the following years.

Havre, France

Fast forward 18 years and a prefabricated design was commissioned from the renowned English engineer Isambard Kingdom Brunel for a 1,000-patient hospital to be used in the Crimean War, following a letter from Florence Nightingale to The Times highlighting the plight of the wounded. Within 5 months Brunel had completed his design, completely revolutionising the atypical ‘field hospital’, and reducing the death rate from 42% to 3.5% with innovations in ventilation and sanitation and the introduction of a flushing toilet. The hospital was comprised of 16 individual blocks which were constructed at Gloucester Docks and shipped to the Dardanelles in Turkey, where it was used from March 1856 to September 1857.

Continuing the pioneering work, at the start of the 20th century city engineer John Alexander Brodie invented the world’s first prefabricated, pre-cast panelled apartment blocks providing affordable housing for the residents of Liverpool. Whilst this concept did not continue to be adopted throughout Britain, prefabricated homes gained increasing popularity elsewhere, particularly in the US, where mail order kits were used during the Gold Rush by prospectors needing accommodation at short notice.

So if the British were such pioneers of the prefabrication movement, how did it become one of the least popular methods of house building in modern times?

The rise in popularity of prefabricated housing, both during and after the Second World War, also contributed to the move away from it. Economical and efficient, the army used prefabricated hangers and buildings to shelter planes, use as warehouses, and house military personnel on the bases. Once the war ended, prefabs were used as a way to provide replacement housing for those destroyed during the Blitz. The ability to construct this type of housing quickly and cheaply meant that entire estates were built by private contractors under the Ministry of Works emergency factory made housing programme. By 1948, almost 160,000 prefab homes had been built in the UK at a cost of almost £216 million.

Designed as a temporary solution to the housing crisis and built from steel, aluminium, timber or asbestos, they were aimed at families and typically consisted of two bedrooms, a room with a bath, entrance hall, separate toilet, living room and kitchen. The more popular aluminium dwelling was constructed at the factory in four individual sections and could be transported by lorry across the country.

Fast forward to the present day and the majority of these homes have been demolished, in the main due to the fact that they were initially only built to last 10 years. Whilst at the time they were seen as more desirable than the existing Victorian housing (prefabs came with all fixtures and fittings in the bathrooms and kitchens), they also reminded people of an era of austerity, when rationing was still commonplace and there was a distinct lack of individuality to homes and neighbourhoods.

Britain’s housing crisis 70 years on from the Second World War and the UK is experiencing a very different type of housing crisis. To be more accurate, it is suffering from a housebuilding crisis. In the decades after the war, over 300,000 homes a year were built in the UK. In 2014 this figure had dropped to a paltry 141,000, not even close to the 250,000 the government estimates is needed to keep up with demand.

As house prices continue to soar, the lack of homes available, coupled with tighter lending restrictions and the difficulty in raising a deposit, has led to the number of people in the private rented sector almost doubling since 2001, with current estimates stating that 1 in 4 households will live in rented accommodation by 2025.

With construction figures for the future not coming anywhere close to meeting demand, the government has made inroads to address the benefits of self-build housing through a number of initiatives including the introduction of a Custom Build Homes Fund, reducing costs to small house builders, and implementing planning reforms which will support self-builders.

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Container Office, UK

Is Britain’s future self-built?

If the dream of home ownership is to be realised, then traditional house building methods need to be reconsidered. Of the 141,000 new homes built in the UK in 2014, only 10,000 were self and custom built and just 6 per cent were prefabricated.

So what are the benefits of prefabricated homes? The main advantage for choosing a prefab over a traditional new-build is the speed at which they can be constructed. By pre-building all of the individual parts in a factory, you eliminate any potential delays caused by weather etc., in addition to reducing the amount of disruption to neighbours. Having the individual components produced in a factory will also reduce any accidents caused by human error, plus there is the added advantage of the quality control aspect of a made-to-measure home.

There is also the flexibility that a prefabricated home offers which trumps most new-build houses. The ability to adapt and improve your home with considerably more ease than if it were made of bricks and mortar is something that architects are aware of at the design stage, meaning that rooms can easily be added or removed, enabling owners to upsize or downsize without having to move house.

The costs associated with prefabricated homes can certainly soar, but like any type of architecture project, this is entirely dependent upon the materials used, and the level of specification required by the home owner.

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Whilst many self-build homes are designed to reduce waste and rely on sustainable energy sources like solar power, these can be expensive to accommodate at the outset, although they will usually become profitable over the life span of the building.

There are numerous manufacturers of prefabricated housing in the UK. At the high end of the market is Huf Haus, a family-run German company that has been in business for over a century. Famous for its classic wood and glass designs, the company has moved from creating one-off, bespoke commissions, to opening its first show house in the UK in 2015. Based in Surrey, the precise modern architecture of a Huf Haus dwelling is complemented by its sustainability. In fact, they are possibly the most energy efficient homes in the UK, using the soil, sun and air to power all types of energy, removing the need for fuel bills for the property.

Prices from Huf Haus start at £400,000 (excluding the land price), with an average house costing between £500,000 and £800,000.

At the more affordable end of the market is Dwelle, a Manchester-based company that focusses on allowing home owners the option to completely customise a basic ‘pod’. The main structure is incredibly adaptable, and customers can personalise every aspect of the building, from the internal living spaces and décor to the external cladding materials.

Prices from Dwelle start at £100,000 (excluding the land), with a typical construction period of 8 weeks in the factory, followed by 8 weeks on-site.

For those of you who want to design and build the entire building yourself, Wikihouse is an online tool that allows you to design and build a flat-pack home to your exact specifications. Free to use, and based on a grid system, you then send your designs to a saw mill and assemble the parts yourself. Using pegs and wedges to hold the timber frame together, the website states that a team of amateurs could build the chassis in as little as 1-3 days.

Finding a suitable plot of land will be the biggest challenge. However, under the Right to Build initiative, the government is encouraging developers and builders to sell off individual plots from larger development sites.

Even with government backing, the concept of building your own home, much less one that is prefabricated, is one that the British public are yet to embrace with open arms. Whether due to lack of awareness, lack of funds, or a combination of the two, it is important to get your finances in order and understand exactly what your outgoings will be prior committing to the build. You will also need to speak with a specialist mortgage advisor if you cannot afford to find the entire build yourself.

Just remember! Building a home to your own taste is a risk: when the time comes to move on, other people may not want purple walls and green carpets, no matter how much you love them.

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Market Leaders in Worldwide Property Investment Tel: 0161 772 1394 Web: www.knightknox.com

THE LURE OF ISLAND LIVING Ever fancied your own island? Global Property Scene decided it was time to see what’s out there

Words : Hannah Wilde | View : Erwinova

Private islands—for many, these are nothing more than a faraway fantasy of sun, sea, sand and seclusion. Yet for the ultra-wealthy, a private island is the ultimate status symbol, even a way of life.

Owning your own personal paradise has long been seen as an unaffordable pipe-dream for the masses—in keeping with the idea of ultimate luxury that private islands can offer, celebrities and business billionaires alike such as actors Leonardo DiCaprio and Johnny Depp, musicians Diana Ross and Rod Stewart, as well as business magnates Bill Gates, the Rockerfellers and Richard Branson are among the most high-profile owners of their own slice of paradise.

Therefore, it is not surprising that island ownership is synonymous with luxury, wealth and indulgence. In what the Telegraph calls “the millionaire paradise club”, private island ownership is portrayed as being reserved for the rich and famous—Facebook Chief Executive Mark Zuckerberg has recently joined this elite ‘club’, spending an enormous $100m on a 700-acre Hawaiian island in Kauai surrounded by stunning beaches, providing himself and his family with the ultimate secluded vacation spot.

Accounting for only 1% of investments, it is easy to see why private islands

are seen as an elite investment for those who can afford the luxury.

However, the market is changing and islands are no longer seen as an unattainable dream for those who don’t have billion-dollar bank balances.

This shift has come around by an influx of ‘affordable’ islands becoming available on the open market, leading to a surge in demand in the years since the financial crisis of 2007. Nowadays, demand is high for island purchases, with Knight Frank registering a 21% year-on-year increase in online viewings of island-based properties on their website in 2014 alone.

People are increasingly recognising the appeal of island ownership, and are keen to invest in their own piece of paradise.

Many are waking up to the idea that island ownership can be more than just a passing fantasy—it can be a reality, and one that doesn’t have to cost the earth. Here’s a guide to why and how to invest in your own piece of paradise: Why buy your own island?

The reasons for buying a private island are countless: A private and secluded vacation spot, a home-away-from-home, even a new full-time residence. The main sway for people who can afford this kind of luxury is

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that a private island is the ultimate status symbol, a tangible indicator of wealth and enough to become the envy of colleagues and family members alike.

Let’s face it, who wouldn’t want their own island? This luxury offers owners the ability to wake up to unparalleled views of sandy beaches and stunning shorelines, or a private rural oasis surrounded by beautiful, unspoilt foliage. The possibilities are truly endless with private islands and best of all: if you own the land, you can develop it however you like.

Private islands offer freedom in abundance, which is why so many people—particularly those who want a sense of seclusion and privacy—seek this kind of tranquil, undisturbed life. Living in relative seclusion surrounded by beaches offers a kind of suspension of reality, which allows its owners to fully escape from the tensions, stresses and hustle-bustle of everyday life.

How much would a private island cost?

To paraphrase an age-old idiom: how long is a piece of string? Although private island ownership is synonymous with ultimate luxury, millions of dollars and private yachts, it is actually possible to buy an island on a

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moderate budget. The market is changing to accommodate newer, more affordable islands, as nearly a thousand new islands come on the market every year which vary greatly in terms of size and price. However keep in mind that for a lower budget, you may need to prepare to compromise on some important aspects like location, climate and even the presence of a beach.

In theory it’s possible to buy a private island for £50,000, but at this price you may need to reign in your expectations—a £50k budget could get you little more than an uninhabitable island in the famously cold and rainy Scottish isle for example, a far cry from the island retreat most people dream of. There are plenty of private islands on the market that are possible on a relatively ‘shoestring’ budget (in fact, affordable islands at the lower end of the market account for a massive 90% of the private island market), but it may well be too good to be true. Although technically it is possible to buy a private island for the price of an average house deposit in most major cities, you need to be prepared to compromise on your dreams of beaches, idyllic climates and the perfect private retreat if your budget cannot be stretched.

Private islands on the other end of the spectrum at the top end of the market are what most people dream of when picturing their idyllic

Private Island, Indian Ocean

getaway—but naturally these come with a price tag to match. In the current private island market, it is possible to invest in islands that tick every box on a checklist of desirable idyllic retreats. Here are just a few of the slices of paradise currently available on the open market: > Situated in the Caribbean isle of Panama, Usher’s Island is the perfect choice for those with a moderate budget—priced at just $250,000, this 2.5-acre freehold island is just 20 minutes from the mainland of Bocas Town, but only has minimal infrastructure on the island at present. > At just over double the price, the $550,000 Birch Island in Greenvile, Maine, is a 6-acre island featuring a log cabin-style main home, as well as guest cabins, a boathouse, dock and even includes two motorboats. > As the budget creeps up, so too does the luxury—at just $1.64m, Belle Lune Island in Ontario comes pre-developed with a deep-water harbour, a dock, a stunning cottage and even a separate guesthouse. > Just over three times the budget would get you Johnny’s Cay, a stunning island in the Bahamas complete with a luxury private residence, pristine ocean views and a bespoke marina perfect for boat docking, with a price-tag of $5.99m.

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> At the budget-busting cost of $15.4m, 140 Wallacks Drive would offer 3.5-acres in Stamford, Connecticut, complete with a 14,000sqft luxury home featuring 11 bedrooms, staff quarters, a greenhouse, a library, landscaped gardens and even a guest cottage and private dock. > Reserved for the super-elite, James Island is everything you could ever want from a private island—but at a huge cost of $75m. For those who can afford this level of luxury, the owner of James Island would be privy to a 780-acre island just off British Colombia home to stunning sandy beaches, a marina, a 5,000sqft main home, not one but SIX guest-houses, and even luxury amenities like an airstrip and a golf-course designed by legendary retired golf pro Jack Nicklaus. A brainchild of celebrity entrepreneur Craig McGraw, James Island even has a bespoke town within its confines, designed as an ode to the Old West that even features a store, a library and a gym.

As you can see, even the top-end of the luxury island market has no clear pricing structure—it’s possible to get your perfect island whatever your budget. James Island is perhaps a rare exception—reserved for the crème-de-la-crème of elite society with an almost endless budget—but it just goes to show that whatever your budget, the island market can surely accommodate.

However, you have to be somewhat cash-rich to invest in a private island because, although not impossible, banks do not generally lend against private islands (especially ones that have minimal infrastructure) because they are notoriously hard to appraise. Private island ownership is not for the faint-hearted, so be sure you go into this investment with your eyes— and wallet—wide open to make the most of your investment.

The pitfalls of island ownership It does have to be said that, island ownership is not all glitz and glamour— private islands do take up a lot of money for development and maintenance to make the island fit for habitation. This can pose a challenging task, as potential hurdles in buying and completely redeveloping a secluded private island can seem never-ending.

Regulatory and planning permission issues, travel issues (there may be no infrastructure in place to travel to the island, like a private runway, nearby airport or no capacity to moor a boat) and having very limited access to local builders and contractors to build on the island are just a few issues that could severely hinder the dream of island ownership before the project has even got off the ground.

You can’t put a price on the tranquillity and stunning surroundings you get from your own idyllic island paradise, but if you could, it is advisable to have a budget around the £1m mark for an island that needs either no or very minimal redevelopment. However, if you are looking to make serious aesthetic changes to your island, you need to factor in the cost of the purchase price plus 40%—any less and you could have to either compromise massively on your plans, or otherwise be shocked when faced with a bill in the hundreds of thousands just to make the island habitable if you have not already factored in these costs.

For some, this is seen as an insurmountable barrier, but for the ultra-rich, this only adds to the adventure and allure of island ownership. Private islands are targeted at a very niche audience and, unlike most residential purchases, buyers generally don’t want an island they can move straight onto. They want room for development, a chance to make their own unique mark on their own piece of paradise. Therefore, islands with ample untouched virgin lands are by far the most desirable purchases for these specific types of investors, keen to add their own unique stamp on their island.

Nonetheless, developing on a private island is perhaps the most difficult hurdle an island owner will have to overcome—be it the exponential costs involved, the building regulations needed, hiring local workforces and even transporting the raw materials onto the island.

Building work unsurprisingly comes at a premium on a private island, as it is much pricier for labour, equipment and transport to the island. It is often not just cosmetic work that is expensive—basic amenities could cost you dearly if the island does not already have the necessary systems in place for the likes of fresh water, power or plumbing. Expert estimations show that the installation of just a desalination system alone could cost in excess of $50,000 (not inclusive of the costs to maintain it), so if you factor in the costs of installing all the necessary infrastructures completely from scratch, it is easy to see how costs could escalate quickly.

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Private Island, Caribbean Sea

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I have bought a private island — now what?

Once you have taken the plunge and bought your own island paradise, what you do with it is completely subjective—whether designed exclusively for private use, for full-time owner-occupation or to turn into an income-generating investment, the purpose of a private island is solely down to the needs, requirements and whimsy of its owner.

Not just a trophy asset, private islands can be so much more than just an idyllic escape for its owners—many a savvy island owner have converted their secluded island into an ultra-luxurious resort, seeking to capitalise on the stunning views and serene environment on offer. Turning a private paradise into a resort has become somewhat of a trend in recent years, with island owners spending millions in order to pass on that sense of luxury that holidaymakers are more than willing to pay a huge premium for. A classic example is the stunning Velaa Private Island situated in the Maldives, which offers tourists unparalleled luxury. From the get-go, this island provides its high-paying tenants with the likes of Michelin-star food, a nine-hole golf course, private infinity pools, a private butler available for hire, as well as excursions including trips in a private submarine, sunset cruises and underwater snorkelling. The ultimate island experience, Velaa comes at an eye-watering premium—the cost for a weeklong stay in a ten-person private villa can easily reach in excess of $181,700.

Such is the allure of private island resorts, even the rich and famous are not above capitalising on their private paradise to create a premium

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enterprise—Richard Branson’s Necker Island, described by Branson himself as “an idyllic island paradise”, is available to holidaymakers, but again at a huge cost. The island boasts a team of 100 staff at guests’ disposal, 2 freshwater pools, a beachfront Jacuzzi, two tennis courts, equipment for water-sports (including wind and kite-surfing, sailing, speed-boating, fishing, kayaking, water-skiing, snorkelling and paddle boarding) and even a private DJ. As of 2016, the price of Necker Island can range from $29,960-$48,300 per couple for seven nights, but this island even goes one step further in the luxury stakes—you can even rent out the whole island for $78,000 per night. This works out at a massive $546,000 for a seven-night stay, which would amount to the cost to buy a small island of your own!

This goes to show that there is certainly a market for private islands as a holiday destination and, although it can cost in the millions to convert your island into a luxury resort, it can pay dividends in income generation as people are willing to pay a premium for the seclusion, luxury and tranquillity that only private islands can offer.

Renting — a tangible alternative to island ownership This notion of renting out a whole island has come into its own in the past decade because, as the private island market diminished somewhat in the wake of the financial crisis, so too did demand for such a seemingly unaffordable luxury. Therefore, as the economy rebalanced, the demand for private islands began to creep up again. However, there was an

Private Island, Indonesia

element of caution this time around, especially from those who had neither the budget nor inclination to waste on redeveloping their own island. Instead, an alternative was born—renting a luxury island.

For many, the idea of island ownership seems too much like hard work, but now there is a way you can still enjoy that high-end luxury life without the worries of ownership. Although, as the rates for Necker Island suggest, this strategy can be eye-wateringly expensive, renting rather than owning a private island offers the best of both worlds—you can still get all the sun and seclusion that a private island offers without the commitment that comes alongside ownership. The stunning beaches, private residences and luxury amenities will still be available at your disposal, but renting an island instead of owning it means that you are not tied to the island; you can travel around and best of all you don’t have the headache of negotiating the minefield that is island development, nor do you have to pay the extortionate fees to maintain the island throughout the year. Just like any other vacation, you have ultimate freedom when you choose to rent a private island—although your bank account will take a hit as you will pay heavily for this privilege. However, since island owning and renting is not for the faint of heart or pocket, those who can afford this slice of luxury would not think twice about paying the fees involved in renting an island.

Renting an island has proved itself as a good alternative for those unsure about the commitment involved in full-time ownership of an island, and recent years has shown that there is high demand for this kind of

temporary tenure. However, this option has also proved to be a good middle-ground for owners, too—whereas a lot of people who buy particularly the ultra-expensive islands can afford the financial strain that island ownership bears, some people choose to subsidise at least some of the ownership costs by offering out the island (or a designated section of the island) for rental purposes. Even multibillionaire Richard Branson rents out his island to the public, so this strategy of income-generation definitely has its merits to alleviate at least some of the financial burdens for island owners.

In conclusion, whilst an increasing number of private islands are coming onto the market at a more affordable price-tag, it does have to be said that private island ownership is not for everybody. It does require a huge amount of work and money to even get your island habitable, not to mention any redevelopments if you have grand plans to turn your island into a resort like Velaa or Necker, so you have to go into this project with your eyes and mind wide open to the possibilities—and pitfalls—ahead. To paraphrase business publication Business Insider: “Purchasing an island isn’t something just anyone can do—you need some extra cash, the ability to travel to exotic locations, plenty of time to invest in a project, and a healthy sense of adventure”. Plus, a multi-million-dollar bank balance wouldn’t go amiss too, but if you can tick all these things off your list, private islands are the ultimate status symbol, so what are you waiting for?

Your own slice of paradise is calling…

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SIX BEST CITIES In this edition, we take a look at the best cities to live as a student Words : Rachel Sharman | View : Anils Versemann

Increasingly, students are looking around the world to find different cities to study in. With a definite rise in the number of international students and services catered towards them, cheap travel options, and universities offering courses taught in different languages, people are no longer bound to their home countries.

which rates individual universities as opposed to their cities.

The appeal is understandable-studying abroad creates the chance to experience a completely different culture, learn a new language and make friends from around the world. Students also have more choice now; do they want to take an entire degree abroad? Or maybe just visit a different university for a semester? Plus, these advantages are coupled with the support, structure and social opportunities that universities provide. All in all, choosing to study abroad is a brilliant chance to experience a new city.

Since Germany abolished university fees for both domestic and international students a few years ago, it has gained lots of attention from those looking to study abroad. These days it is one of the most popular destinations for international students, an impressive feat given these types of lists are often dominated by English speaking nations.

Global Property Scene has rounded up six of the best cities for students.

It’s worth noting that these are in no particular order as each of these universities offers something different. However, they do all promise a highly exciting semester or two. Students who have studied abroad almost always come back with great memories and a bank of funny anecdotes.

Five of these six cities feature in the Top 10 of the QS (Quacquarelli Symonds) 2016 Best University City rankings. QS is the leading global provider of university ratings, as well as their cities. However, Global Property Scene has done further research to find out exactly why the cities receive such high scores, and in what ways they are the best for students (as well as add in an alternative). It’s worth noting that the university ratings are from another QS list, The QS World University Rankings for 2015/16,

The Cool City Berlin QS city rank = 9

As for the best city to study in in Germany? Munich is a good guess (as it’s home to the nation’s most acclaimed university, Technische Universität München), but the crown actually goes to Germany’s capital- Berlin. Here, there are three universities to choose from. Although none are within the top 100 of QS’ World University Rankings for 2015/2016, the Freie Universitaet Berlin is at a respectable 119.

Yet it’s not only the universities which students fall in love with in Berlin, it’s the whole city. Berlin has done a good job over the past few decades establishing itself as Europe’s capital of cool. It is a large, busy city, with a population of approximately 5,870,000 (of that 1.6% are students).

However, it’s also liberal and low cost, proud to thrive without mass gentrification.

Berlin is easily the least expensive city for living and studying on this list,

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a highly important factor for students. Coincidentally it is also the cheapest city for pints and cocktails on a night out - another high priority for students - according to the cost of living index Expatistan.com.*

lifestyle. It promotes itself as Asia’s trendiest, most desirable city and is a completely immersive experience as students have to learn to navigate the language and city.

The city is also perfectly placed to explore all of Europe, being a central and major transport hub. This has the advantage of making Berlin easy to get to and from at the beginning and end of term. Also, with many courses being offered in English around the city, Berlin is an easily accessible city for students from around the world.

That’s not to say that there is nowhere to study in the city. Tokyo has 13 QS world leading universities including: the University of Tokyo in 39th place and the Tokyo Institute of Technology in 56th place. Although the percentage of international students in the city is relatively low at 7%, since 2012 the University of Tokyo has offered courses taught fully in English.

The Cosmopolitan City Tokyo QS city rank = 3

Exciting as it sounds, there is a downside to Tokyo and that is the high cost of living. The average monthly rent for a furnished flat in a nice area is £2,031, which makes it the only city on the list to break the two thousand mark. There are other costs which may seem overtly expensive in Tokyo too. For example, a one month gym membership will set you back £85, much more than the average of £38 of the remaining cities on the list.

Even for the most daring students, Tokyo may seem rather exotic. Yet Japan ranked third on QS’ Best Cities and that’s because it offers one of the most exciting, cultural and adventurous student experiences going. It climbed four places since 2015 and is now the top university city in Asia.

Tokyo is many things – one of the world’s three financial capitals, a gigantic metropolis home to 38,640,000 people and definitely a city of opportunity. Those studying in Tokyo are at no risk of feeling stuck in a university bubble, as only 0.5% of the city’s residents are students. Instead, Tokyo is the perfect city for those looking to live an urban, cosmopolitan

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The Classical City Paris QS city rank = 1 Paris is QS’ number one university city as it has for many years now. This is no surprise given that the French capital is home to 18 ranked universities (the second highest amount in the world) which have courses

Paris, France

taught in French, English and other languages. The very best is the exclusive Ecole Normale Supérieure in 23rd place, which is also the highest university from cities on this list. So couple this with the fact that Paris is easily one of the world’s most iconic cities and you can see why the French capital is the perfect destination for those looking to study abroad.

258,300 other students (the largest amount on this list) so at least you’ll have plenty of friends for cheap nights in.

Paris is the city of love and light, home to famous sights, art galleries, museums, architecture, parks and palaces. Perhaps it’s no surprise that it appeals so much to students. The whole city oozes culture, history and beauty. And the dream of sitting outside a French café, sipping an espresso and just watching the world go by, attracts numerous students to the classical city every year. Paris has a romantic reputation which it often lives up to.

Montreal is the second smallest city of these six, yet still home to a sizable 3,820,000 people. It’s the perfect size for those looking to study in a bustling city, without being as intimidating as megacities – with more than 10 million residents or more – Paris or Tokyo. Montreal is the capital of the Quebec region of Canada, famously and proudly French, meaning that it is officially the second largest French-speaking city in the world. However, courses are often taught in numerous languages thanks to the fact that Montreal is also a real melting pot of cultures. The most recent survey in 2006 found that almost 20% of residents speak another language than French or English at home.

It’s not a small city though, there are approximately 12,300,000 people living in Paris. This means that there are new things to do every week plus, upon degree completion there are plenty of jobs available.

However, it is also one of the more expensive destinations. Going out for a pint, cocktail or even a Big Mac will cost you more in Paris than any other listed city, as well as the average rent being the second most expensive on the list. However, also living in the city are approximately

The Cultural City Montreal QS city rank = 7

There are a handful of universities in Montreal including the prestigious McGill University. This is both Canada’s best performing university and also 24th in the world, just one place behind Paris’ Ecole Normale Supérieure and over ten times the size. Around 27% of students in Montreal are international, partly attracted by its bilingual nature.

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Yet there is so much more to Montreal than this alone. It’s known as Canada’s capital of culture thanks to the number of attractions around the city. It’s also famous for its nightlife and is crucially very cheap to live in. The price-of-living index found Montreal to have the least expensive average rent for a furnished apartment in an expensive area-£768. Along with the cheapest monthly travel ticket by far (at £40 in comparison to the others’ combined average of £60).

Montreal is a great city for those looking for a first-class education in a culturally diverse city, without having to spend too much to live there.

The Cheerful City Melbourne QS city rank = 2 Melbourne may have come second on the overall QS Best University Cities rank, but it did claim the top spot in the ‘Student Mix’ ranking.

‘Student Mix’ is the category “designed to look at the student make-up of the city, both overall and from an international perspective” where “areas with high numbers of international students are more likely to be well-prepared to welcome even more.” Arguably, this is the most important factor for those looking to study abroad. So perhaps it’s unsurprising that ‘Student Mix’ is dominated by Australian cities (in 1st, 2nd, 8th and 10th place) which are famous for their friendly, welcoming and cheerful nature.

The best university in Melbourne is the University of Melbourne with a rank of 42nd in the world, however, there are 6 more QS ranked establishments also in the city. In total, students make up about 5% of the 4,442,900 living in the city. Then, of that figure, approximately 30% are International students (which is the highest percent on this list).

It’s easy to see why so many people are attracted to Melbourne. It’s a sunny seaside city, where the lowest average monthly temperature is only 10˚C in July. The people are friendly, the atmosphere is relaxed and the beaches are beautiful. Unfortunately, the prices aren’t exactly cheap.

Public transport tickets, internet costs and alcohol are all at the expensive end of the cost of living index. Tuition fees to study in Australia are also costly. Ultimately, it appears that if you’re able to pay the price for the Australian dream, Melbourne is the perfect university city for you.

The Charming City Bath All of the cities in QS’ Top 10 are impressive, world-famous names with populations in the millions. And whilst these appeal to some students, there are plenty of other, smaller options around the globe that provide the buzz of a city with a more intimate atmosphere (but not the stats necessary to boost them up the QS ranking). It’s all a matter of personal preference really.

Bath in the UK has been highlighted time and time again for being a great, small university city. There are only 176,000 residents living there, and a large 11.9% of them are students - a significantly higher percentage than any of the other cities on this list. This means that the whole city has a distinctly young, university feel to it. There are two establishments to choose from, including the University of Bath which has the QS rank of 159 in the world and 7th in QS’ “50 under 50” ranking.

Bath is a small city, so it’s easy to navigate, but is still home to some beautiful architecture, and full of independent cafés and shops. Plus, it’s only a fifteen minutes train ride away from the larger city of Bristol if students tire of what is on offer. However, that seems unlikely as students have access to not only the high street and clubs of the city, but also more rural areas and activities close to the city centre.

All-in-all, there are definite advantages to studying in larger cities.

However, it’s important to acknowledge some of the other, equally enjoyable smaller options.

*Prices checked on the 05/01/16

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LUXURY APARTMENTS FROM ONLY

£110,000

Market Leaders in Worldwide Property Investment Tel: 0161 772 1394 Web: www.knightknox.com

THE SUPER BOWL Super Bowl 50—More than just a sporting event?

Words : Hannah Wilde | View : Joseph Sohm

January—the beginning of a new year heralds in resolutions, predictions and expectations for the year to come, but for avid sports fans, particularly fans of American sport, the New Year only means one thing: a countdown to the Super Bowl.

Therefore, the Super Bowl is the definitive American football game of the season, a championship game played every year at the end of the season between the winners of both the National Football Conference (NFC) and the American Football Conference (AFC).

As much an annual American tradition as Thanksgiving or the Fourth of July, the Super Bowl is met every year with much anticipation, preparation and feelings of celebration—food and drink are purchased, plans are laid out and parties are organised to mark the occasion. Super Bowl Sunday is notorious in America, as hundreds of thousands flock to bars, restaurants or to the homes of friends and family to pay tribute to this unofficial but still nonetheless important national holiday.

For those unfamiliar with the ins and outs of American football, both the NFC and the AFC come under the umbrella of the National Football League (NFL). However, what is unusual about the NFL is that, rather than having leagues ranked by skill, American football’s two main conferences each contain 16 teams of equal skill to directly compete against each other.

While the American footballing season begins in summer and comes to an end in the New Year, towards the end of the season the top 6 teams from both the AFC and the NFC play each other until the last undefeated team in each conference remains, which results in the Super Bowl to find the definitive season champion.

This year is no exception—the 2016 Super Bowl, scheduled for February 7th in California’s Santa Clara, is the 50th game in the competition’s history so in keeping with the traditions of the past few years, it is expected to be the biggest and best yet.

The game The game of American football for an outsider can be difficult to grasp, but the crux of the game is fundamentally a contact sport revolving around an oval ball which is used to score points between two teams of eleven. The teams are split into ‘offense’ (attacking players) and ‘defense’ (defending players)—the former is focussed on maintaining possession of the ball and scoring points through touchdowns and field goals, whereas the latter is focussed on blocking and tackling their opponent’s defenders in order to prevent field progression and opportunities for the opposition to score.

This year’s event, Super Bowl 50, will take place at the home of the five-time Super Bowl champions the San Francisco 49ers—the $1.2 billion Levi Stadium in Santa Clara. This year’s championship game, dubbed the Golden Super Bowl because of the competition’s golden anniversary, is fittingly taking place in the Golden State of California, and interestingly is the only Super Bowl in the competition’s history to forgo it’s now iconic roman numerals specifically for the occasion.

The halftime show Although millions of people tune in to watch the two teams battle it out on the football field, it’s said that the game itself is seen by many as the least

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important aspect of the Super Bowl weekend. In much the same way as non-Catholics still observe the traditions of Christmas, the 53% of people who admit that the game itself is not the most important aspect of the Super Bowl weekend still enjoy some (if not all) aspects of the big game— for nearly 12% of Americans, the thing they most look forward to on Super Bowl day is the famous halftime show.

Every year, as is tradition, the football field is transformed at halftime into a makeshift concert arena, with a stage that is graced by some of the biggest names in music. Past Super Bowl crowds have been entertained by such superstars as Michael Jackson, Sir Paul McCartney, Prince and Madonna, as well as more recently the likes of Katy Perry and Bruno Mars.

Over the years, audiences have been treated to such stage antics as Janet Jackson’s now infamous ‘wardrobe malfunction’ at the hands of *NSYNC boybander Justin Timberlake, Diana Ross’s sensational exit as a helicopter landed on the stage, Beyoncé’s unexpected reunion with band Destiny’s Child, and a rather surprising collaboration of famous Aerosmith hit Walk This Way featuring pop artists *NSYNC and Britney Spears, as well as RnB singers Mary J. Blige and Nelly.

Such is the importance of the halftime show that the most-watched performance in Super Bowl history—Katy Perry’s set at the 2015 Super Bowl XLIX at Arizona’s University of Phoenix Stadium—was seen by a massive 118.5 million viewers, a higher viewership than the game itself.

This year’s Super Bowl, taking place in February 2016, is expected to draw viewers in their millions, especially since British band Coldplay have been announced as the halftime performers for the game’s 50th year. Since the announcement, rumours have hinted that frontman Chris Martin will not be alone on the stage, and now it has been revealed that he will share the stage with music superstar Beyoncé, with Bruno Mars also on hand to inject a fast-paced tempo into the mix.

Now that the headline acts have been announced, the only thing that remains to be seen is whether the 2016 show will generate more viewers than Katy Perry’s now iconic show the previous year.

The venue Part of the excitement of the Super Bowl is, for many, deciding where to watch the big game. Hundreds of thousands will descend upon the competition’s chosen host city by attending the game live, but for many the same level of excitement can be had simply watching the game at home, in a bar or at a restaurant surrounded by family and friends. Wherever you decide to join in the revelry of the Super Bowl, one thing is certain—unless you live under a rock, the Super Bowl is simply unavoidable.

The average attendance at a Super Bowl game over the competition’s history is 77,987, with many more scrambling to get their hands on the iconic tickets. Interestingly, the Super Bowl is one of the only global sporting events that shuns electronic ticketing, insisting instead on issuing paper tickets. The NFL says its ticket security features “include holograms, custom laser cut-outs, thermachromic ink and a specially made gloss varnish”, which only adds to the feeling of exclusivity and euphoria for those lucky enough to get their hands on a ‘golden ticket’. So sought-after are these tickets that last year’s Super Bowl XLIX in Arizona saw the price of tickets climbing right up until game day, with the average ticket price sitting at $11,000 on the day of the game.

However, the scarcity of tickets is not enough to sway even the most die-hard American football fans—for the 2014 Super Bowl, a massive 122,000 people flocked to Glendale, Arizona, despite the fact that only 63,000 had tickets to the stadium. This shows that football fans, whether attending the event or not, are all keen to come together to bask in the atmosphere that the host state supplies in the run-up to, and during, the Super Bowl weekend.

This sense of togetherness is not just confined to those who travel the length of the country to the host city however—a sense of community is actively encouraged during the Super Bowl weekend by those watching on TV, too. Although the TV viewership for Super Bowl Sunday has risen by 22.4m in the past 10 years, what is interesting is that more and more people are creating an event around the Super Bowl, with nearly 44% of Americans either planning to host or attend a Super Bowl party.

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Gillette Stadium, Boston

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The food If the lure of football and famous musicians aren’t enough to induce excitement about Super Bowl Sunday, there is one aspect of the sporting event that is truly unavoidable: the food. Whether at a party, at the game or watching from the comfort of your own home, it has to be said that Super Bowl weekend is a patriotic celebration of overt Americanism—snack food, light beers and consumerism galore. The statistics showing the sheer importance of food and drink over the Super Bowl weekend are staggering: > 5,000 pounds of hotdogs will be eaten during the game, as well as: > 1.25 billion chicken wings; > 14 billion hamburgers; > 23 million pounds of potato chips and nachos; > 8 million pounds of guacamole; > 3.8 million pounds of popcorn; and > 7,250 tonnes of snacks—including 4 million pounds of pretzels and 2.5 million pounds of nuts If that wasn’t enough, all this food is washed down by the 325 million gallons of beer consumed on an average Super Bowl Sunday, which is enough to fill an Olympic sized swimming pool 2,000 times.

Unsurprisingly, Super Bowl Sunday is the second-largest day for food consumption in the U.S behind Thanksgiving—food alone sets American consumers back a cool $50 million annually in supermarkets in the weeks leading up to the big game, along with $2 million on soda and an eye-watering $1.01 billion spent on alcohol.

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In addition, the Super Bowl weekend is reportedly America’s biggest day of the year for pizza sales, with previous years showing pizza giants Dominos selling over 11 million slices of pizza on game day alone, 44% more than a typical Sunday. Furthermore, restaurants and takeout establishments also see a surge in sales over Super Bowl weekend, with more than 48 million Americans ordering delivery food during the game.

Again to compare it to the worldwide tradition of Christmas Day, the aftermath of Super Bowl Sunday involves the aches and pains that come from eating and drinking to excess—it is estimated that a huge 7 million Americans call in sick or show up late on the Monday following game day, and there is an annual 20% increase in the sales of antacid in the days following the Super Bowl.

Super Bowl Sunday—an international event Whilst beginning as an inherently American tradition, the Super Bowl has now gained an international following all over the world. Incredibly, the Super Bowl was broadcast to 195 countries worldwide as of 2014, and translated into more than 30 languages, reaching as close as America’s neighbouring country of Canada to as far out as China, South Africa, New Zealand and Australia. In addition, more people than ever are watching the game on their smartphones and increasingly commenting live on the game from all over the world, with 2014 reporting a massive 25.3 million tweets sent live during Super Bowl XLVIII. Thus is the international reach of American football that the sport is now increasingly becoming a part of the culture of other countries, too — nearly 4,500 miles away, America’s Anglophonic allies England are increasingly embracing the American football culture. 2014 was a true

Gillette Stadium, Boston

turning point in the popularity of American football in England, marked as the year in which the country saw for the first time official NFL matches played on European turf. Three regular-season games were played at London’s Wembley Stadium in 2014, and these games were met with great response as the events were a sell-out. The games were held in response to growing fan support of American football in the UK, with NFL Commissioner Roger Goodell attesting: “Our fans in the UK continue to demonstrate their passion for more [American] football”.

In addition, the traditions surrounding the famed Super Bowl Sunday that stir Americans into a frenzy each and every year are also slowly but surely moving across the Atlantic, along with the popularity of the game. Despite the time difference (meaning that English supporters are watching the game well into the night), this does not deter American football fans across the pond seeking to experience at least a snippet of the hype surrounding Super Bowl weekend.

With UK terrestrial broadcaster Channel 4 acting as the official home of American football, it has never been easier for the English counterparts to get their fix of the National Football League (NFL). As well as making its way onto the broadcasting schedule, the NFL is slowly but surely infiltrating the sports scene all over the UK— many bars, pubs and clubs are jumping on the Super Bowl bandwagon as more and more establishments are staying open late into the night on Super Bowl Sunday, with some even offering a taste of American cuisine during the festivities including nachos, pizza and chicken wings.

For those looking for a far more extravagant observation of America’s top sporting event, by far the biggest UK celebration of the Super Bowl is

the now-famous “Super Bash”. Taking place at London’s 02 Arena, the Super Bash celebrates Super Bowl Sunday in true American style—think cheerleaders, Budweiser, NFL guest star appearances, musical acts and a 2,300-strong crowd to get you into the Super Bowl spirit.

However, the penetration of American football into England’s mainstream goes much deeper than the occasional live match or the annual observation of the Super Bowl on TV—this has been shown most notably in English universities, where American football teams are a big part of campus life. The majority of major universities in England now have an American football team, as well as the archetypally-American team of cheerleaders on the side-lines to help their team to victory.

So is the Super Bowl more than just a sporting event?

Although it seems to an outsider that the Super Bowl is all about football, food and frivolities, the importance of this annual sporting institution as a fundamental American pastime cannot be underestimated—research shows that there are more Americans willing to miss a major life event like the birth of a family member, funeral of a loved one, important work function or the wedding of a friend/relative than miss the Super Bowl.

So yes, the Super Bowl is so much more than a sporting event—it’s an internationally-recognised institution, followed by millions of people all around the world. Whether you are watching as an avid American football fan, just for the halftime show or to join in the food, drink and merriment that surrounds game day, the fact remains: either love it or hate it, the Super Bowl is a tradition—and one that is here to stay.

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WORLD MARKET VIEW The global financial crisis plunged property markets into a downward spiral. Nine years on, Global Property Scene takes a look at how the Singapore property market stacks up to its overseas equivalents.

Manchester, UK • Median Sales Price: $445,450* • Average price per sqft: $927

Note - Figures correct as of stated dates: * January 2016

Los Angeles, USA • Median Sales Price: $601,000* • Average price per sqft: $961

Mexico City, Mexico

New York, USA

• Median Sales Price: $81,000* • Average price per sqft: $519

• Median Sales Price: $1,311,133* • Average price per sqft: $1,615

Average house prices in the last 2 years: (Prices based on 2-bed city centre apartment)

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$543k

$540k

$521k

$527k

Dubai

$311k

$173k

$193k

$326k

• Median Sales Price: $215,000* • Average price per sqft: $171

Cape Town, South Africa • Median Sales Price: $75,780* • Average price per sqft: $194

Sydney

Singapore

Moscow

Cape Town

$28k

$31k

$161k $142k

$94k

Sao Paulo

$476k

New York

Mexico City

Manchester

$87k

$46k

Los Angeles

$488k

$33k

2015 2014

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$536k

$535k

Sao Paulo, Brazil

Singapore Moscow, Russia • Median Sales Price: $392,120* • Average price per sqft: $813

Dubai, UAE • Median Sales Price: $297,234* • Average price per sqft: $520

• Median Sales Price: $1,190,347* • Average price per sqft: $1,897

Sydney, Australia • Median Sales Price: $624,657* • Average price per sqft: $910

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WHAT’S THE ALTERNATIVE? Memorabilia

Words : Michael Smith | View : Sarunyu L

We all have, in some form, the first toys we received as a young child.

Sometimes you may wonder why you held onto this item for such a long time. Well let me be the one to give you the good news: you may very well be sitting on something of great value and collectability. Items you may have once viewed as clutter in your loft, constantly getting in the way as you perform the annual Christmas decoration hunt. One of these items may very well be the final piece in a collector’s puzzle. And one that the right collector will pay the right price to complete.

importantly there are strong total pound values to be achieved. The largest markets are sports and entertainment and the most popular trading is done through auction houses, specialty dealers and internet outlets like eBay. However because memorabilia are not traded on an organised, formal exchange, it’s hard to pin down the exact size of the business, but it is certainly a multi-billion-pound one.

The question is can memorabilia be the vehicle for the serious investor?

The simple answer to this question is yes, there can be significant financial opportunities for investing in the right piece/pieces. As you begin to dip your toe it will become clearer what kind of collector you are. It boils into two categories. You will either be someone who collects for nostalgia reasons—like football stickers signed by childhood heroes; the second is an investor or wealthy individual who has a more substantial collection.

So we know that there is a lot of potential for further growth. It’s simply a matter of learning which items are currently attaining the largest gains.

Often this can be the result of something seasonal (Christmas/Easter).

Collectables will see significant uplifts from significant events. For instance, when the latest installment of the Star Wars franchise hit cinemas in December, collectables from the saga’s history saw serious gains of as much as 500%. If you were lucky enough to own a sealed Ultimate Collector’s Millennium Falcon, original price £349, you’d now be looking at a price of £4,700.

The memorabilia market has so much to offer in what is considered collectible. There are many venues for buying and selling and most

With this in mind I’ve put together some simple steps to keep in mind when selecting your investments:

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Model Van, Corgi

> Do your very best to keep a business head One of the most common problems with investments of this type is the appeal of the items themselves. It’s all too easy to fall in love with that new piece of movie history. If this happens it’s going to be very difficult to let go. We’re here to make a return, not fill our homes with stuff which, in all honesty, we really don’t need. Obviously you should never say such things to a potential buyer. I find the best way of picking the right items is to look at demograpics that I have no real interest in. Take model trains, if you simply buy the locomotives rather than entire setups track, signals, junctions etc, you will feel less inclined to play with the items. Plus, the golden rule to remember is the packaging MUST stay on. > Always go with big names One of the more obvious, but still very important rules to follow. You should always look for collectables with a good history and pedigree. For example, you want a signed George Best shirt rather than one signed

by Brian Kidd. They both played in the same team, both had great spells

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for Manchester United, but George Best is a household name. It’s in this instance you will find more interest and potential investment growth.

Same with model trains (Hornby), same with model cars (Corgi), same with comics (Action Comics). > Supply and demand Exclusivity is a powerful tool. Investors always want something they can’t have, knowing full well their competitors will feel the same. If you’re going to invest in a collectable you should look for something that was produced in very few numbers.

Or alternatively something that can never be reproduced. A certified picture of Kurt Cobain carrying his autograph is certain to only appreciate in value. No one is going to be able to get more. The same goes with art-entry levels are high but will remain there. Pick the right piece of work and you’re looking at strong double figure return over a very short period of ownership.

> The key is condition Just like all other investments it’s essential you look after your collectables. This will often hinge on what you’ve purchased. If we’re looking at a large collection of diecast model cars, a well packed box will suffice. If you’ve invested in a collection of rare stamps you need to be looking at exposure and temperature. Items of this nature can often be affected by the conditions they’re exposed to. Keep it in a dry location, preferably in the dark, to ensure they keep their value.

You have to remember that other collectors will scrutinize every detail.

The leading collections are kept in what you would call museum quality storage. Pristine is truly pristine. To the naked eye most items will seem of a good standard. A collector will go that bit further, and if the standards have dropped so will the sale. > The market is fragmented.

Don’t be lured into the notion that you will have to use big organisations

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to gather the best items. Activity is not limited to big auction houses like Sotheby’s and Christie’s. These two are well known for handling big-ticket items and yes, their offerings will often be backed up by well trained experts. There are other avenues that will likely deliver stronger returns. Don’t be afraid to use one of the smaller specialty dealers and auction houses. A simple browse through eBay can often prove fruitful. > Always check the credentials of the seller History, history, history. It’s very easy to be tricked into buying the wrong collectable. With modern techniques, forging a good replica can be achieved even by the most entry level supplier. With a vast amount of knockoffs entering the country from the far east, it’s easy to get swept up in the possibilities.

Do your homework, look at the background of both the market and sales history of the supplier. Remember, it’s easy to be exposed to borderline items, particularly when your dealing in autographs, an item easily replicated. If you’re going to take the plunge and have any real doubt, get the final say of an expert. Chances are they have seen the item before. > Prices can and will rise and fall

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The value of memorabilia moves up and down just like any other market, and, with the economy in recession, prices have fallen. Certain items however will always keep at their entry level price. If you have the match-winning ball for a major sporting event, there will always be fans desperate to get hold of it. The only real snag is the safer items are unlikely to show notable growth. The best bet is to stick with items with small entry levels. These can then be backed by a few high ticket items, once combined the risk should balance.

At the minute Star Wars collectables are showing some real growth. The problem with investing in these items now is they have really grown as far as they currently can. With the franchise offering up another two moves over the next four years, you can be sure this will spawn a vast array of collectables. Picking the right items could prove difficult. Plus if you buy something now from the new crop of collectables, it will most likely be slow burner. As the series introduces a new generation of fans to the franchise, many will look to the previous films. It’s in those collectables there will be real value and growth. I’d certainly pick up a high ticket item from the first three films era. With the most collectable 1978 figures fetching as much as £13,000, it’s certainly worth a look.

BB-8, Star Wars

> Don’t get wrapped up in taste Everyone likes different things and will feel more or less attached to a particular item. With this in mind you should avoid buying items that could find themselves being passed down to family. Chances are they wont feel the same way about your hard fought collection, and when they become the curators of said collection will look to offload. If you do plan to pass your collection on, make sure the recipient wants the stuff or knows what to do with it. Be sure to give specific instructions for your designated estate representative regarding what to do with your collection. That way if they do choose to sell they can at least get the right price and buyer. It would be a real tragedy if your collection of rare toys ends up out of its packaging, at the bottom of a non descript toy box.

So that’s it for now. Memorabilia is a truly vast market with endless possibilities, some good and some not so much. If you stick to these steps, I’d say you will struggle to put a foot wrong.

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Q &

A

It’s time for GPS to answer some of our readers most pressing questions Words : Samantha Jones

Q.

Q.

When looking to invest in property for the first time, how do I find a reliable lettings and property management company, what is the cost, and what is included in this service?

When looking online, it suggests that there may be a discount if I pay for an investment in cash—is this true?

A.

A. This will completely depend on the type and location of property you purchase. Many new-build and off-plan properties will already have a management company in place that you are expected to use. Whilst this may sound restrictive, it can actually work out easier and cheaper in the long run.

Alternatively, if you need to employ a professional agent, it is important to choose a company that has the infrastructure and resources to provide you, the investor, with the service you rightfully deserve. Fees are personal to each and every landlord and do depend on location. For example, properties in London will be charged lower fees, as the rents are usually higher than in the rest of the country.

As a general rule, off-plan properties in the UK (properties that have not been built yet) are sold as cash-only investments, mainly due to the restrictions in place concerning mortgages on this type of property. Rather than a discount, you will usually find that off-plan property is considerably cheaper than a completed building, due to the perceived risk involved in the purchase if the scheme does not receive planning permission.

This risk can be mitigated to a certain extent by carrying out due diligence on the property company prior to purchase, for example, do they have an extensive portfolio of completed projects? Their track record should speak for itself and instil you with confidence in buying an off-plan property.

In the UK, industry standard management fees generally vary between 8-10% plus VAT of the monthly rental income. In some instances, a lettings/tenant finding fee may also be payable.

*These questions and answers are provided for general information only and may not be completely accurate in every circumstance.

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Q. I have just received a sizable inheritance and am looking to invest it in property. I already have two buy-to-let houses in the UK, but would like to diversify into the Spanish property market as I have family ties to the country and visit it regularly. Should I look overseas, or concentrate on building my portfolio in the UK?

A. The most important thing when investing in an overseas property market is to ensure that you thoroughly understand how it works. The simplest way to do this is to speak with an Independent Financial Adviser (IFA) and/or

solicitor that have experience in buying property in that particular country.

Look into the local property market of where you wish to buy and make sure you are certain of attracting regular tenants, and that the rates and taxes don’t outweigh the rental income you will collect.

Expanding your portfolio into different countries means that your income/ capital is less likely to be affected if the market collapses in one particular part of the world. However, it can also prove more costly, as you will need to source external suppliers, management companies, lettings agencies etc. in each country, meaning double the cost.

ASK THE EXPERT

Q. What do you look for in a piece of land?

A. The end user is the main focus in the mind of a land buyer, as there is simply no point building a property that no one wants to live in. Location is key! Are there many empty properties nearby? What are the average rental returns and house prices in the area? External market factors are an essential starting point to determine whether the scheme will be viable or not.

One of the most important things a land buyer needs to do is to ensure the support of the local community and government agencies. Working closely with the local planning authority and community groups allows for an understanding of the immediate area. A series of consultation meetings are usually set up prior to the application being submitted, so that all sides fully understand the impact it will have on the local area.

Q. Q3. How soon after planning has been granted can work commence?

A. Q. Why does the planning process take so long?

Potentially, the developer can be on site the next day. However, there are normally certain conditions imposed by the planning committee which have to be met prior to construction starting. These conditions can include:

A.

> The approval of external materials (through the provision of samples) > Approval of the landscaping scheme > Drainage design approval

The determination of the planning from the point of submission is normally 13 weeks. However, prior to this point, there are numerous investigations on the site that need to be carried out which will help support the application. There are also a lot of supporting documents to be submitted and reports that need to be carried out prior to approval.

Whilst many of the conditions will be known at the start of the process, some can be imposed at the approval stage, and it is unknown what conditions have been added until notice has been received.

The visual impact of the completed development is key to its success. CGI representations are created to show the planners and local community how the development will sit within its surroundings.

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SHOULD I MOVE TO VALDIVIA? Words : Myriam Kemmar | View : jorisvo

In Chile, it is quite common to hear that the south is the most beautiful part of the country-and after spending a year in Valdivia, a small town located in the south of Chile, I could not agree more with that statement.

Situated on the confluence of 3 main rivers and founded in 1552 by Pedro de Valdivia, a Spanish conquistador, this old city of around 155,000 inhabitants is referred to as the “Pearl of the South”. Valdivia has a certain “je ne sais quoi” that will make you fall in love with it the minute you arrive.

Valdivia - work, live, play

Pisco Sour” that consists of Pisco (Chilean base liqueur), lemon juice, white eggs and sugar. But for those who just fancy a beer, then the Kunstmann beer, a local beer introduced by the German immigrants, is definitely worth a try.

The real fun starts during summer time where temperatures go up to 25 30 degrees. Many free cultural events (concerts and sporting events) are thrown along the riverside. To welcome summer during those sporting events, people would gather by the river and start working out and dancing for hours. But the biggest and most entertaining event remains the “Noche Valdiviana” (the Night of Valdivia) that celebrates the anniversary of the city and the end of summer. During that night, local people parade on boats wearing costumes and acting in front of delighted tourists.

One might think that Valdivia is a boring city because of its small size, but being the capital of region XIV (despite there only being 12 regions in Chile) and being home to Austral University - the oldest and most important University of the south created in 1954 - Valdivia has an important student population and therefore offers a strong focus on arts, Summer time in Valdivia is absolutely stunning. The “Mercado fluvial”, the bars, restaurants and sports. So whether you are a student or a worker, the most important market of Valdivia (declared a Chilean National Monument city will always offer you things to do. in 2009) is an activity that no one should miss. This open air and bustling riverside market will brighten your Sunday afternoon. In that market, you The first street that most new residents go to is “Esmeralda Street” as it will witness people peacefully rowing, sea lions enjoying the sun and tends to be the street where most restaurants and bars are located and locals buying their fresh fish and local crafts. also where most Chilean people go out. It is in this very same street that I would recommend anyone to go and try the famous Chilean Cocktail “El Another place worth a visit would be the “jardín botánico” of Austral

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Spanish fortress, Valdivia

University, a giant garden of 10 hectares where people usually go and relax during summer time. But for those who are fond of great outdoors then Niebla, a small town located 20 minutes from Valdivia, is the place to visit as it offers beautiful views over the ocean.

Cantarranas”, a remaining fortification built in 1774 during the colonial time is still there.

Yet a city is nothing without its inhabitants, and the real adventure only starts when you actually get to know Chilean people.

A city full of history Embracing Chilean culture?

Since the city was founded in 1552, a lot of museums that cover different topics (cultural, historical, animals etc.) about Valdivia’s past opened to the public. What I enjoyed the most was that I actually did not need to go to a museum to experience a journey into the past. The only thing I had to do was to go outside and get lost in the city, as Valdivia displays a constant contrast between the past and the present.

For instance, many vestiges can still be found here and there in the city.

Sometimes around the corner of a street you will find yourself staring at the oldest church in Valdivia, the “San Francisco“church built between 1586 and 1628, or you will just realise that you are actually walking down one of the oldest streets of Valdivia (the Pedro Lagos Street), where “El torreón de

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When you decide to move to the other side of the world, you might fear feeling homesick or lonely because of the language barrier or because of the culture itself, but Chilean people will never let you go through those feelings by yourself. When you live in Valdivia, you have to get used to the extra attention you will get from locals as they absolutely love foreigners.

Therefore you will meet a lot of people who would show genuine interest in you, even though they cannot speak your language!

During my stay as a foreign student, I was truly amazed how easy-going, welcoming and loving Chilean people were. They are extremely outgoing and very family-oriented people. For instance, you could be talking to

Water side, Valdivia

people for five or ten minutes and then find yourself at their place the day after, having lunch with a whole Chilean family trying traditional food which will probably consist of “cazuela�-A homemade stew that consists of meat, potatoes, pumpkin and corn or if you are lucky enough some empanadas (a kind of a meat pie).

Chilean people are also a very traditional society, where religion still holds a very important place and men are still supposed to be the ones responsible for the family. Funnily enough these aspects never really affected me as the new generation is a lot more tolerant and even seeks for more equality.

So going back to the question of whether you should move to Valdivia, my answer is yes! During your stay, no matter if it is for the short or long term, you will meet people and behold scenery that will make you see the world with a whole new perspective.

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Specialists at providing buy-to-let properties to the private investor market, Knight Knox has a wide range of developments available across the UK. Working alongside a team of experienced developers, solicitors and agents allows Knight Knox to provide expert advice and guidance on a range of investments.

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Comprising 63 units in the form of chic studio apartments, which are available as classic, premium, deluxe and deluxe plus investment options. All units come fully furnished with en-suite bathroom, a high quality fitted kitchen in a contemporary style, as well as benefiting from a high speed broadband connection.

Rathmell Hall is the ideal student accommodation for the students of York – not only does it offer its tenants luxury living quarters, but it also provides them with on-site communal amenities to allow its student tenants to get to know each other.

BRIDGEWATER GATE Manchester PRICES FROM :

ÂŁ114,995 > Circa 6% predicted NET returns Predicted NET rental yields of 6% Lettings and management company in place Private communal facilities Built by an experienced developer Great transport links and close to shopping amenities

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Bridgewater Gate is enviably located on the edge of Manchester city centre in the thriving area of Castlefield.

This luxurious development will have all the advantages of being a short walk away from the local parks and independent shops of suburbia, but also the vibrant bars and restaurants of the city.

It also sits within walking distance of MediaCityUK, the new home of the BBC.

ADELPHI WHARF PHASE 2 Salford PRICES FROM :

ÂŁ114,995 > Up to 6% predicted NET returns Excellent local infrastrucutre 10 minutes walk to central Manchester Experienced managing agent Great transport links and close to shopping Chronic undersupply of housing in Manchester and Salford

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Adelphi Wharf Phase 2 contrasts city and country living.

Located in Salford, bordering directly on Manchester city centre, Adelphi Wharf is a picturesque property overlooking the beautiful River Irwell.

Residents of Adelphi Wharf can pick from a range of high-end studios and luxury townhouses, as well as bespoke one, two and three-bedroom apartments.

X1 THE PLAZA Manchester PRICES FROM :

£110,000 > 6% NET rental returns 1, 2 & 3-bed apartments and townhouses Beautiful balconies with dynamic city views Prime city centre location Within walking distance of local amenities Experienced management company in place

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X1 The Plaza is the newest addition to the Manchester skyline, set to provide 201 luxury apartments to the prime undersupplied residential market in the area.

The widespread success of the nearby X1 Eastbank project in the heart of Manchester’s newest up-and-coming district of New Islington shows the sheer level of demand in the area—both investors and tenants alike are flocking to the area, seeking bespoke investment and living opportunities in such a vibrant area.

NOW SOLD OUT

X1 LIVERPOOL ONE PHASE THREE Liverpool PRICES FROM :

ÂŁ79,995 > 6.61% NET rental returns Quality fixture and fittings Fully-furnished Phase 3 comprises 92 apartments Located in the centre of Liverpool city centre High rental demand in the area

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To capitalise on this almost insatiable student demand for luxury accommodation, the third phase of X1 Liverpool One consists of a selection of luxury studio and penthouse apartments, all of which are fully furnished* and finished to the highest of standards.

As well as ultramodern features, which perfectly befit luxury student living, residents of X1 Liverpool One will also benefit from stunning views of either the dynamic city of Liverpool, or its incredible skyline.

X1 MEDIA CITY TOWER 2 Salford Quays PRICES FROM :

ÂŁ104,950 > 6% NET rental returns Studios, 1, 2 and 3-bedroom apartments Lettings and management company in place Private communal facilities Great transport links and close to shopping Most exclusive development outside of London

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With 1,100 apartments covering an area of approx.

544,820sqf, X1 Media City is the largest residential development in the North West.

The development itself consists of four iconic towers, each containing a mixture of studios, one, two and three-bedroom apartments. With spectacular views over the city and MediaCityUK, the apartments are available fully furnished with a high-end, elegant flair.

NOW SOLD OUT

X1 LIVERPOOL ONE PHASE TWO Liverpool PRICES FROM :

£69,950 > Circa 7% NET rental returns Assured 7% rental income for 3 years Fully-furnished Phase 2 comprises 133 apartments Located in the centre of Liverpool city centre High rental demand

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Phase 2 of X1 Liverpool One is made up of 133 impressive studios spread over eight floors. All studio apartments, including a selection of roof top penthouses overlooking the city’s skyline, come fully-furnished to the highest of standards.

Situated on Seel Street, right in the heart of the action, the development is in the midst of Liverpool’s thriving high streets, bars and cafes, along with being only a short walk away fromall five of Liverpool’s prestigous universities.

X1 THE TERRACE Liverpool PRICES FROM :

ÂŁ109,950 > 6% NET rental returns Assured 6% rental income for 5 years Fully managed and let by X1 lettings Great central location High-end fixtures and fittings Built by experienced developer

The Terrace is the fourth phase of the highly successful X1 The Quarter development (Phase 1 The Gallery and Phase 2 The Courtyard are fully tenanted with Phase 3 The Studios in construction).

This development is set to be a 101-unit new-build in the vastly popular city of Liverpool, launched as a direct response to the incredible demand for prime residential apartments in the region, shown by the incredible success of the previous phases.

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BELLS COURT Sheffield PRICES FROM :

ÂŁ69,995 > 7% NET rental returns Assured 7% rental income for 1 year Fully-furnished Excellent city centre location Luxury studio apartments High rental demand in Sheffield

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Bells Court, a perfectly located development in the highly popular student city of Sheffield!

Bells Court provides a mix of luxury studio apartments, perfect for both students and young professionals alike.

Demand is high for prime accommodation in Sheffield, with its rising house prices and thriving rental market.

NOW SOLD OUT

Maid Marian House Nottingham PRICES FROM :

£67,495 > 8% NET rental returns Boutique student living Located in Nottingham, a popular student city Great central location On-site gym Superior studio apartments for student residents

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Introducing Knight Knox’s newest student accommodation development—Maid Marian House in Nottingham!

Maid Marian House is the perfect student hub, perfectly situated in the heart of Nottingham’s vibrant city centre.

Containing luxury fixtures and furnishings, high-end communal areas and a SMART TV in every apartment, this development is a perfect fit for Nottingham’s ever-growing student population.

NOW SOLD OUT

X1 EASTBANK Manchester PRICES FROM :

ÂŁ110,000 > 6% NET rental returns 111 apartments / 40 parking spaces Built by an experienced developer Assured rental yield available Walking distance to Manchester city centre High rental demand in local area

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X1 Eastbank is enviably located on the edge of Manchester city centre in the thriving area of Ancoats and New Islington. This luxurious development will have all the advantages of being a short walk away from the local parks and independent shops of suburbia, but also close to the vibrant bars and restaurants of the city.

This nine-floor residential project will have a range of high-spec facilities suitable for all, with both car parking spaces and bike storage available.

NOW SOLD OUT

THE QUEEN’S BREWERY Manchester PRICES FROM :

£91,000 > 6.5% NET rental returns 73 luxurious 1 and 2-bedroom apartments Private courtyard and parking 10 minutes from Manchester city centre High-end fixtures and fittings Extensive refurbishment of a landmark Grade II listed building

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Housed in a beautiful period building converted to the highest of standards by professional developers, The Queen’s Brewery will be divided into 73 luxurious apartments, as well as providing amenities for residents including private on-site parking.

Easily accessible to local amenities such as bars, restaurants, shops and theatres in just 10 minutes, residents of Queen’s Brewery have the best of both worlds in that they have the benefits of living just on the outskirts of a busy city, but also have easy access to the thriving city centre.

NOW SOLD OUT

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THE COURTYARD AT X1 THE QUARTER Liverpool PRICES FROM :

ÂŁ89,950 > 6% NET rental returns Finance options available Experienced management company in place Proven rental demand 5 minute walk to Liverpool ONE Opposite Liverpool Marina

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Built by an experienced developer in the residential buy-to-let market, The Courtyard at X1 The Quarter presents a unique concept in luxury living for the residents of Liverpool.

Completed in September 2014, the development contains 77 modern 1, 2 and 3 bed apartments, in addition to 3 bed townhouses. Offered at an extremely competitive purchase price and with virtually no maintenance required due to the new-build status of the development.

SPECTRUM Manchester PRICES FROM :

ÂŁ172,950 > Circa 5.5% NET rental returns Completed and tennanted development Private landscaped gardens Great central location Built by experienced developer High quality fixtures and fittings

Spectrum delivers the best of both worlds, combining chic, urban living with the tranquility of private landscaped gardens.

The studio, one, two and three-bedroom apartments are finished to the highest specification, with floor-to-ceiling windows and full-length balconies in most apartments.

Light floods into the living space and views across the city are a constant reminder of how close you are to everything you could want.

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BENTO Sheffield PRICES FROM :

ÂŁ279,000 > 8.62% NET rental returns Designed by award-winning architects Unique townhouse design High quality fixtures and fittings ECO-friendly investment Highly sought-after area

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Bento is a new high-tech concept in student accommodation, designed to cater to the modern student. Designed by multi-award-winning architects Coda Studios, Bento consists of 8 luxury 5-bed student houses, encapsulating luxury and stylised urban living.

In addition to its high-end exterior, the interior of Bento was carefully designed by Coda’s resident concept architects to ensure luxury chic living throughout.

NOW SOLD OUT

STANLEY COURT Liverpool PRICES FROM :

ÂŁ59,995 > 8% NET rental returns Assured NET rental yields Lettings and management company in place Private communal facilities Built by an experienced developer Great transport links and close to shopping amenities

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Stanley Court is redefining modern city centre living.

Designed with its residents in mind, this development perfectly encapsulates the needs and wantes of modern tenants, and has gone above and beyond to cater to their needs.

Whilst all Stanley Court’s features will appeal to modern tenants, the communal area in particular (complete with SKY TV, pool table and vending machines) was meticulously designed with the needs of its residents in mind.

LOOKING FOR PROPERTY TO BUY? BE SURE TO VISIT THE

The UK’s largest and longest running property investment event is presented at ExCeL London every April and October.

The major names in UK and international property will be out in force with plenty of ‘off-market’ bargain deals and show exclusives to choose from.

E FREW

SHO Y ENTR

REGISTER ONLINE AT www.propertyinvestor.co.uk NOTE: Seminar booking opens approximately 6 weeks before show opening day

THE BEST OF UK BUY-TO-LET New-build buy-to-let Studios, 1, 2 & 3-bed apartments available Management companies in place In prime locations across Manchester, Liverpool and Leeds

PRICES FROM ÂŁ94,995

Contact Us: +44 (0)161 772 1370 | info@knightknox.com www.knightknox.com