Global Property Scene Edition 8 by Knight Knox

GLOBAL

PROPERTY NO. SCENE ISSUE 008

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This issue: Should I move to Munich? | A guide to gem stone investments | Building the Cities of the Future Why is the UK population migrating away from the cities? | World market view

FOCUS ON : MUMBAI

IS INDIA THE NEXT GREAT PROPERTY MARKET?

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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 lure of countryside living

35 The wait for Christmas is over

42 Are robots ready to run the office?

73 Which city best suits YOUR needs?

At present, over 18% of the UK’s population is homed in the countryside, but with inward migration happening on a huge level (as has been the trend in recent years), this figure is due to rise exponentially if this movement continues in the long-term.

As much as technologies such as the world wide web, smart devices, and even ordinary day-to-day objects such as ovens, washing machines, fridges and so on have helped us improve our lives, people sometimes look sceptically at the prospect of an increasingly modernised robotic future.

Regular Articles

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07 Market in Focus: Mumbai

88 UK

WELCOME TO INDIA

Mumbai faces the problem of being tiny, surrounded by water, yet high in demand. Could it’s citizens soon be priced out of the market?

84 Should I move to Munich? 26

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Munich as a city is truly unique – exceptional really. Here, striking historic constructions meet tastefully designed modernity.

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 008 GLOBAL

PROPERTY NO. SCENE ISSUE 008

EDITOR’S NOTE

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

This issue: Should I move to Munich? | A guide to gem stone investments | Building the Cities of the Future Why is the UK population migrating away from the cities? | World market view

FOCUS ON : MUMBAI

IS INDIA THE NEXT GREAT PROPERTY MARKET?

The end of the year is insight, 2015 is almost over and with it I introduce the final edition of the year. India the second most-populous country in the world, it has an extremely rich history, an extremely bright future and, 68 years into independence, it has truly proven that it is on a course unlike any other country in the world. With such diverse culture and story, it seemed fitting to make the main focus of this edition India.

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Credits Individual Samantha Jones, Hannah Wilde, Rachel Sharman, Christine Schulz, Richard Ellis, Alistair McGovern, Suzanne Todd, Callum Whiteley, John Power, Martin Copeland, Sue Hedges, Dee Barber, Mark Roberts, Michael Vickers, Mark Williams 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

With India’s population intent on living in the city, here in the UK we are experiencing the opposite. This nationwide trend is so unheard-of that the UK is now known as the only country in the developed world to promote counterurbanisation—that is, people moving from cities to the countryside. In this edition we try to get to the bottom of this current trend. Our alternative investment this time around is gem stones. Standing as a good hedge against inflation, rather than as a high-growth asset, gem stones are something that can be kept securely and offer a certain amount of usability. The question is, which to buy? And finally we’re over in Munich trying to decide if whether this truly unique city is a potential port of call for 2016. It has been a great year for Global Property Scene. More copies printed, broader content written and most importantly, great communication with our readers. It’s with this in mind I’m happy to announce that as of January 2016, Global Property Scene will be available bi-monthly! Have a great Christmas and a happy new year from all of us at Global Property Scene.

Editor-in-chief Michael Smith

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MARKET IN FOCUS MUMBAI Words : Rachel Sharman | View : KishoreJ

Mumbai is a thriving, diverse metropolis that acts as the financial, tourist and commercial capital of India, even if New Delhi is the official one. Mumbai is made up seven islands which form a peninsula off the Western coast of India. Think Florida but on the opposite side and only 0.35% of the size. Mumbai faces the problem of being tiny, surrounded by water, yet high in demand. But what is it like? Mumbai is glitzy- it’s the playground of India’s rich and famous, home to more millionaires and billionaires than any other Indian city. It’s the wealthiest city by GDP in the country, in fact, it’s actually the wealthiest city in the whole of southern, western and central Asia. Plus, Bollywood, the film industry often touted as the East’s version of Hollywood, is based around the city. Yet this is a city with more than its fair share of poverty. Mumbai holds the title of being home to the world’s third largest slum, Dharavi, along with many others dotted around which take up a large proportion of the city. And fitting somewhere into this mix of wealth and poverty, 18,500,000 people have found a home in the Mumbai metro region. Or at least that was the figure during the 2011 census. Thanks to the rapid rate of urbanisation the whole of India is currently experiencing, more recent

estimates have seen that figure rise to 22 million. You can again compare Mumbai to Florida, but this time the figures are a lot more similar. Only 20 million people lived in Florida in 2014, despite the fact this is a land mass over 300 times the size. Ultimately, Mumbai is India’s largest city by population and currently the 9th in the world. Yet its metropolis region’s 603 km² means it measures less than London’s 1572 km², Hong Kong’s 1,104 km² and even New York City’s 789 km². Mumbai has an extremely high population density, in part thanks to the tightly packed slums which see whole families living in one room. Therefore, you may think that the property market would be as varied and busy as the rest of this city. However, this is not actually the case. Mumbai is currently seeing a massive over-supply of housing stock, sluggish growth and low absorption rates. Why? Because what’s on offer is actually out of the price range of many of the city’s residents. In 2013, the average Mumbai household income was only INR 754,956 yet according to estate agency JLL, over 70% of 2015’s empty housing stock costs INR 10,000,000, or INR 1 crore as it’s known in India, or more. Obviously these two prices don’t exactly add up, meaning moving out of

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the slums and into proper accommodation seems like a pipe dream to many. Unfortunately, these high house prices are not yet changing either. Over 80% of houses and apartments released in H1 2015 have fallen into this expensive price range of over 1 crore. JLL also noted how there is a fair choice of new, luxurious developments, however, they’re just not being bought. In total it estimated that there were 80,000 empty homes in the city. Simply put, one of the problems in Mumbai is that there is such a lack of space that developers end up paying a premium for land to build on (and the associated high costs of that building). Even though many people would benefit from cheaper accommodation, it’s simply not profitable for a lot of developers to create it. Or at least, not close to the centre of town, where people want to live. “We all know that below INR 1 crore is where majority of the demand is and would like to capture this attractive segment. But how many of us can do it within city limits, given the current land prices and development premiums that need to be paid upfront?” said Sunny Bijlani, a director at Supreme Universal, a firm of real estate builders and developers in Mumbai.

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Instead, many of the city’s residents are left without a proper home, and for most people that means living in the slums. It has been estimated that as much as 60% of the city’s population lives in slums. Where India stagnates behind the other massive super-power China is that it has yet to establish a dominant ‘middle class’ who neither live in the slums nor in impressive houses that cost over INR 1 crore (though it has been reported that the tides are turning). Instead, the current state sees people appearing to be rich or poor, with little room in between. After all, these days, one of the ultimate syllables of status is where a person lives. Some of those in the slums would be able to afford modest residences, however, those types of homes aren’t often available. Instead, there are tens of thousands of unoccupied apartments currently available in Mumbai, but all too many of them boast with first-world prices. And therefore the slums are left with a population density up to ten times the city average. The most famous of all of these slums is Dharavi, which inspired the film Slumdog Millionaire. This slum (or as those living there call it- ‘home-grown neighbourhood’) takes up about one square mile in the heart of the city, and houses anywhere from 250,000 to 1,000,000 people depending on what you read. Dharavi is a cramped, maze of a neighbourhood. There are very few toilets and electricity is unreliable. Yet many of the people who

Mumbai, India

live there seem surprisingly happy. There have been numerous attempts to regenerate Dharavi (both for the residents’ benefits and for developers). After all, in a city where space is so scarce, it’s sat on some prime real estate. Dharavi is located between two train stations, and although once delegated to the north of Mumbai, urban sprawl has since pushed the rest of the city northwards towards the main land, which has ultimately surrounded the slum and promoted it to city centre status. But the people who live there are averse to these changes. Dharavi also acts as a million pound centre of industry, as over 20,000 illegal workspaces, and families who have done the same work for generations, make the slum profitable. Residents have individual needs that the blanket plans of mass regeneration simply can’t accommodate. The slum prides itself on being a real community and despite how the area seems to be in poverty, they certainly don’t act like it is. So Mumbai houses its fair share of slums, but at the other end of the spectrum, there is also a large community of uber-rich living in the city. A recent Guardian article noted how similarly these wealthy elite act to the richest of pre-recession Londoners. The picture this article paints of wealthy Mumbai is one of unashamed excess. Of a wealth so limitless

there is almost an unbelieving ignorance to the true levels of poverty that plague much of the rest of the city. This wealth is also encapsulated by the sale of India’s most expensive residential property ever this September. Lincoln House is a seaside mansion in Mumbai, an ex-American embassy which takes up 50,000 sq ft of valuable space and has cost the new owner $113m, or INR 7.5 billion in local currency. “Whether it is London or Mumbai, prime property is always worth it,” says Adar Poonawalla, the son of the buyer. “And anyway, almost everyone who matters in Mumbai knows this building, because we’ve all had to go there to deal with getting visas to America. So it is iconic for that reason too.” However, despite Poonawalla’s opinion, this sort of deal is rather unique. There are a few super-prime neighbourhoods (with average prices of 50 crore) scattered around Mumbai, especially in the fashionable southern and midtown areas of the city, however, they too have been struggling in recent years. This is because of another reason why Mumbai’s property market had been stagnating, a lack of confidence in the sector. The economy is only recently picking up, in part thanks to the newly elected Prime

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Area: 603km2 Population: 12,478,447 Density: 21,000/km2

Mumbai, India

Minister, Narendra Modi, and his popular policies aimed at boosting investment and decreasing the deficit. In fact, 2015 marks the first year (in three) that housing demand is equalling supply across the whole of the country. Estate agency Knight Frank states: “We believe that such developments [Modi’s focuses on the economy, infrastructure and ease of doing business] will invariably have a positive rub-off effect on the residential market in terms of bringing back customer confidence, which is the biggest hurdle for home sales.” The Financial Times reiterates this lack of confidence, citing the unstable nature of all of India’s property market. In its article it notes how Indian property projects are usually financed in different stages with investors being asked for money at various points along construction to enable continuation. This works fine, if all goes to plan. However, in India things “often do” go wrong according to the article, and therefore all investors are left with are half finished constructions. Finally, big budget property developments can find it difficult to find investors, partly because the absorption rate is so low and partly because there are much higher potential yields in other sectors. Those who have made financial investments have seen much more lucrative returns and ultimately bricks and mortar isn’t as profitable. As for the future, it is estimated that the whole of India’s property market will start to go through a corrective phase as house prices, absorption rates and market confidence start to smooth out. There are some fundamental problems with Mumbai which are going to be difficult for any government to fix in a few years. However, the expected house price growth for H2 2015 is 3% which would be encouraging growth, yet modest enough to hopefully not alienate even more home buyers. For the same period it is expected that better employment prospects alongside lower inflation and loan interest rates will also draw more people back to the housing market. Current expectations for the whole of H2 2015 see around 34,000 residencies being sold, with only 20,100 being brought to market. Finally it seems the excess stock of 80,000 is beginning to be alleviated. Another of the significant changes for the property market are the numerous infrastructure projects going on around Mumbai. One of the most famous is the $1 billion high speed train line from New Delhi to Mumbai, but other, more local projects should also benefit the city: • The 16.8 kilometre Eastern Freeway opened in 2013 • The second phase of the extremely popular monorail which should open at the end of 2015 • The Mumbai Trans Harbour Link promises to be the largest bridge in the country, linking up two of Mumbai’s islands, although this project doesn’t have an end date Grand projects like these, among others, should truly benefit Mumbai as they allow people to traverse the city with ease. Perhaps this will also result in residents being happier to move to suburbs further afield where the prices are lower. As stated at the beginning of this article, one of Mumbai’s greatest property problems is its lack of space, so opening the city up with better travel infrastructure would help this immensely. Mumbai should have a bright future and India’s economy is expected to beat traditional first-world nations’ in the coming decades. Its importance as a global nation is growing, and Prime Minister Modi seems determined to better the country in a thoroughly 21st century way. There is a huge potential in the country and ultimately Mumbai should be at the forefront of this, being the hub that it is. However, it is also important for the city to sort out its current problems including: finding a method of regeneration that doesn’t displace or displease the 60% living in slums; creating viable housing stock at an affordable price; and continuing to build better connections throughout the city. Unfortunately, though necessary, none of which will be easy or cheap to complete. What Mumbai’s property market will look like in a decade’s time is likely to be completely different, but whether this is for a good or bad reason remains to be seen.

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Chatrapati Shivaji Terminus, Mumbai

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THE LURE OF COUNTRYSIDE LIVING Should you choose the alternative to the hustle and bustle of a busy city? Words : Hannah Wilde | View : Simon Hattinga Verschure

The UK has seen a massive migrational shift of late, with a record number of people relocating to a different part of the country in search of a better standard of life. This is a typical case of internal migration, but what is peculiar in this instance is that instead of migrating to cities, more and more Britons are moving away from urban living, preferring the peace and tranquillity offered by rustic living as an ideal alternative to the hustle and bustle of a busy city. This nationwide trend is so unheard-of that the UK is now known as the only country in the developed world to promote counterurbanisation—that is, people moving from cities to the countryside. Some 60,000 UK residents per year make the choice to leave their homes in the city in favour of inward migration towards the countryside, a figure that is steadily rising year-on-year. At present, over 18% of the country’s population is homed in the countryside, but with inward migration happening on a huge level as has been the trend in recent years, this figure is due to rise exponentially if this movement continues in the long-term. But what has fuelled this unprecedented shift from urban occupation to rural living?

Well the main benefit of living in the countryside first and foremost is its stunning landscape—the UK countryside is one of the most beautiful in the world, with expansive fields, luscious green grass, populous crops, and fresh air aplenty. The country is a hotbed for beautiful rural areas, boasting such stunning scenic delights as the Pembrokeshire Coast, the Yorkshire Dales and the Cotswalds to name just a few—one just has to perform a quick Google search to see the sheer appeal of such majestic green and open spaces. Such is the beauty of the UK countryside that it has been named in the top 20 most beautiful countries on the planet, with 80% of the UK dominated by picturesque farmlands and stunning greenery. But it is not just potential inhabitants that are enamoured with the UK countryside—the rural tourism sector generates over £14 billion per year from its 75 million visitors, who flock from all over the world to visit such beautiful landscapes. Needless to say, the UK’s countryside backdrops are unparalleled. Furthermore, as well as incredible scenery, the UK countryside also boasts a massive economy and uncapped growth potential, which makes it not only a great place to live but a great place to work, too. With 5.5 million people currently employed by the rural economy (with the rural production of food and drink alone contributing a massive £22bn to the UK Treasury

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every year), the countryside economy is not only self-sustaining but also thriving like never before.

enterprises registered across England’s rural areas, representing nearly a quarter (23%) of the country’s overall total.

But it is not just the rural food production industry that has seen a massive surge of late—the countryside has also seen a huge rise in remote workers and entrepreneurs in recent years, keen to have both the dream rural house and the successful dream career. Thanks to investment into broadband, better transport links and improved mobile phone signals, the career possibilities for people living in the country is endless—most jobs are now easily accessible because of innovative investment like the £17 million scheme set to improve broadband in rural areas from now until 2017. It is not surprising then that such investments have already broadened the horizons of rural residents, with research indicating that over two million people are already taking advantage of these infrastructural improvements to work from the comfort of their countryside home instead of commuting into city centres for their jobs.

Unsurprisingly, governmental figures show that the UK’s rural areas contribute a huge £210bn per year to the economy, and their importance cannot be overstated. Job growth and productivity in the countryside across all sectors is so fecund that the rural economic output is expected to grow by £35bn, as well as creating an additional 300,000 jobs over the next 10 years. Simply put, if growth and productivity in the countryside continue at the same level as recent years, their output and contribution to the economy could well outstrip those found in urban areas by as early as 2024. To put this into numerical perspective, if the average annual growth rate of the rural economy increased by just 0.1 percentage points, this marginal increase would add approximately £7 billion to the rural economy by 2030. So not only is the countryside a great place to work (either remotely or to set up a business), it is also an area of huge economic growth too.

In the same vein, entrepreneurial activity is also going from strength to strength in the countryside, which is now far outstripping activity found in many urban parts of the UK. According to Elizabeth Truss, the UK’s Environmental Secretary, there are now more than half a million

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The Reality of Countryside Living The lure of the countryside is unquestionable, but is it enough to

Cheshire, UK

upheave your family to move and set down roots somewhere miles away from the nearest city? Many thousands of Britons categorically say yes, with a huge 9.3 million people already calling the countryside their home (accounting for 18% of England’s population). When considering countryside living, the most popular reason for relocation is to achieve a better standard of living that many believe urban towns and cities just cannot provide. Housing in the countryside, whilst adhering to the national trend of enjoying huge house price growth of late, is still considered relatively affordable, especially when compared to the huge and unsustainable house price growth found in the UK’s capital city of London. For the cost of £500,000, the UK countryside can offer the likes of a stunning four-bed three-bath farmhouse with 2.3 acres of land near the picturesque town of Radnorshire, Wales; a sprawling 5-bed Scottish manor house in Perth complete with 5 reception rooms and 2 acres of land; an expansive 5-bedroomed rustic lodge with 5 acres of land overlooking a stunning valley in Scotland’s Aberdeenshire; or even a gorgeous 3-bed cottage complete with equestrian paddocks and 4 acres of land in Lincolnshire, England.

However, for the same money, half a million pounds in the centre of London will get you a tiny 611 square-foot 2-bedroom flat in Angel, a meagre one-bedroom 667 square-foot apartment in Marylebone, or a slight one-bed flat in an Art Deco building in the heart of Bloomsbury, with a meagre £50 to spare. For the price, there really is no comparison—the countryside comes up trumps when it comes to housing, boasting some of the most picturesque homes in the world surrounded by expansive and untouched green land. Such is the lure of housing in the countryside that research undertaken by UK estate agent Strutt and Parker shows that not since the 1980s has there been as much interest in farmland from outside the agricultural industry—figures show that 17% of farmland purchased in the first quarter of 2015 was from lifestyle buyers and 22% from private investors. Bob Bickersteth, director of the London Office, surmises: “Many buyers are re-evaluating their priorities, taking advantage of the price differential between London and the country in order to afford a better quality of life”. Whilst the homes in the countryside are unequivocally ahead of the curve, the communities in which these houses are situated are yet

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Cumbria, UK

another feature that relocators are actively looking for. Crime rates and pollution (both noise and environmental) in the countryside are generally lower than in the heart of urban cities, with a safe and clean atmosphere contributing a huge amount to the perceived notion of an increased standard of living offered in the country. In addition, a large proportion of country-dwellers believe that the slower pace of life that comes alongside quiet rural living allows for a better work/life balance, especially in light of the rising levels of entrepreneurship and remote working that the countryside promotes. Furthermore, relocating to the countryside is no longer reserved for retirees as once it was, since the rise of flexible working has meant that people can now have the nice country house and the dream career. A vast number of professionals are now based in the country because in this day and age, with the rise in technology that makes remote working not just a possibility but a way of life, workers in many industries do not have to be chained to a desk in the city and can instead conduct business from the comfort of their (rather larger and more affordable) homes. This has been apparent in Britain for the past half a decade, with the number of home workers having increased by 13% over the past 5 years to 4 million. Phil Flaxton, chief executive of Work Wise UK, said of this mass exodus to enhance one’s work life: “It might be a time in their life when [workers] think, ‘I’m not ready to retire, but I’d like to have a more comfortable, healthier lifestyle’”. What’s more, survey after survey has shown that satisfaction ratings from people in rural areas are generally higher than in urban areas. It has been proven by The Countryside Living Index that urbanites are more worried about crime and the economy, whereas their rural counterparts are generally more optimistic about the future and happier about their quality of life. The Cost of ‘Upping Sticks’ Whilst on paper the countryside looks like a great place to live and work, there are a number of factors to consider before you swap your suit and briefcase for overalls and wellington boots. One of which is: are there any costs involved in ditching urban life in favour of a rural retreat? Despite its popularity, to borrow a popular idiom, it seems that country living is not everyone’s cup of tea. According to a recent study, 77% of city-dwellers do not want to relocate, with many citing lack of jobs, not wanting to leave friends and family, and a shortage of shops and restaurants as reasons for forsaking rural living. Aside from the aforementioned reasons, many urban dwellers may find country life restrictive, with many rural retreats being far from the shops, businesses, amenities and arts and culture that are so synonymous with city living. Furthermore, whilst some elements like houses are considerably more affordable in the countryside when compared to London, it has to be said that some elements of rural life do come at a premium. A classic example of this country premium is Burnham Market, a farmers market to the north of Norfolk, known locally as ‘Burnham Mark-Up’ because of the price variances in its products. As one disgruntled market visitor commented, Burnham Market is “[a] farmer’s market that charged twice as much as Tesco’s for fruit and vegetables on the grounds that they were ‘organic’ and ‘locally-grown’: code for bruised and misshapen”.

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Yorkshire, UK

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As well as organically sourced vegetables which are so popular with country folk, one other major area that comes at a price for those living in the country is fuel. With local amenities like supermarkets, schools and hospitals generally being more than a short walk away, many have no choice but to use their cars, a fact that has not gone amiss with local petrol stations who are willing to offer such a vital service—but of course, at a higher mark-up than the national average. This has a huge financial implication for country-dwellers, especially when considering that rural residents have to travel on average twice as far as urbanites to their nearest shop. In fact, research by insurance company NFU Mutual has shown that rural residents pay more for essentials such as home maintenance, personal transport, fuel and energy—at £6,082 a year compared to £4,357 for the average UK consumer. Even everyday items like meat, tea and coffee have a premium attached, with such items recording the largest price differentials in supermarkets in the country, compared to prices in the city. Furthermore, the Countryside Living Index also shows that year-on-year ‘rural inflation’ levels averaged 7.7% over 12 months in 2013, a huge 3.4 percentage points higher than the national average of 4.3%.

In addition to the price premiums attached to everyday necessities in the countryside, it has also been found that integrating yourself into the country community after living in the city for so long can be increasingly difficult. A survey conducted by broadcaster Sky 1 found that more than one in four people who have recently moved to the country admitted that it was harder than they thought it would be to integrate into the community, with respondents stating the typical timeframe of feeling totally settled into their new surroundings is over 12 months. However, the benefits of outdoor living that the countryside offers in abundance cannot be contested, which is why many urbanites are embracing a new trend, “rurbanism”, to get the best of both worlds. An amalgamation of ‘rural’ and ‘urban’, “rurbanism” is exactly as it sounds, incorporating parts of the countryside lifestyle into an urban environment. This could be anything from going for regular jaunts to the countryside to something as simple as visiting local farmers’ markets for more fresh and organic produce. However, for many, this is the perfect alternative— presenting people with the a sense of country living, whilst still reaping all the rewards that city living offers. In conclusion, when weighing up the pros and cons of countryside living,

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Derbyshire, UK

it is clear that the countryside has a lot of excelling features, but these features do come at a cost. As to whether countryside living is the right fit for everyone however, it does have to be said that rural living is subjective to each and every person individually, and is wholly dependent on circumstance, preference, budget and inclination. But what cannot be overstated is that that the lure of countryside living is increasingly taking hold of the UK, with this mass-scale reverse migration due to continue over the next decade and beyond. The Government is expecting the rural population to increase by over half a million until 2025, a fact that has been reiterated by research by Digital Property Group which suggests that, in a survey of 9,500 people, a huge 52% of them would like to move to the country in the next six months. Needless to say, people are now waking up to the potential that the UK countryside offers as a feasible and highly sought-after place to live, work and retreat.

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A TRUE ECONOMIC POWER India, a vibrant mix of people, traditions and landscape Words : Rachel Sharman | View : Anees Palayakodan

India. It’s the second most-populous country in the world, it has an extremely rich history, an extremely bright future and, 68 years into independence, has truly proven that it is on a course unlike any other country in the world.

India has seen a lot of influences over the millennia (the earliest human remains found in the south Asia region discovered 30,000 years ago!). However, one of the biggest, most foreign powers in the country was the introduction of the British East India Company in 1612.

Of course, trying to describe the world’s largest democracy in a few words doesn’t really work. There are 5 major religions, more than 20 languages spoken, and 1.271 billion people who call India home. When the national tourist board coined the phrase ‘Incredible India’ it was not being hyperbolic - India is vast, busy, loud, and truly incredible.

This infamous company, which was chartered in 1600, began as a simple trading company. It traded sought-after commodities: cotton, silk, salt, tea and opium. At its best its said to have accounted for half of the world’s trade. Yet, it very rarely turned a profit as corrupt shareholders and company officials often diverted funds to their own bank accounts.

However, it is also important to note that ‘incredible’ is not always a positive word, merely one of awe. India has featured its fair share of controversy, and is a country known for its poverty, lawlessness and corruption.

In the beginning, the East India Company set up trading posts in locations down the coast of India, competing with their Dutch and French equivalents. Pretty soon some of these ‘presidency towns’ that they had established (including Madras, Bombay and Calcutta) grew in size to massive conurbations, crucial to the country.

It has had shaky relationships with neighbouring Pakistan since they were partitioned in 1947, going to war on at least four occasions (thrice over ownership of the northern Kashmir territory and once over the creation of Bangladesh). It is home to an antiquated ‘caste’ system whereby people are divided into social categories which govern their whole lives. Even more progressive issues are seen as going backwards rather than forwards - 2013 saw a 2009 order reversed and homosexual acts were no longer decriminalised. History

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As the decades continued, the East India Company began to gain importance, and power, at an unstoppable rate. Things began to become more violent, and two crucial battles left the company as revenue collectors for three of India’s most profitable regions, meaning that by 1757 the British East India Company had taken over a great proportion of the country, becoming the de facto leader. Perhaps unsurprisingly, this foreign company was not particularly popular with the natives causing riots to break out a century later. 1858 was the

Taj Mahal, India

end of the East India Company’s supremacy; however, the UK’s influence was not to finish yet and this year also saw the start of British Raj (British Rule). Although certain policies and changes were made to appease the native population they didn’t exactly succeed and ultimately in 1947 India was granted its independence and Pakistan along with East Pakistan (now Bangladesh) were formed. But how has this long British colonialism affected the country today? It’s difficult to draw direct links from one to another, but it appears that one of the lasting imports from Britain to India is a national obsession with class. The caste system mentioned earlier is an ancient and strict social hierarchy cemented under British Raj (some believe as a method to keep control). Although caste discrimination is officially outlawed in India’s constitution, these antiquated classifications are still prevalent today. Even though the castes have ancient roots it was under British Raj that the different categories saw increased importance and increased differences. A caste, or person’s varna status is a similar concept to the upper, middle and lower classes that ruled Victorian England. However, unlike the British system, there was no room for social mobility. A person’s varna status is so important in Indian society that a 2011 study found that only 5.37% of Indians married someone outside of their varna. The highest caste is the Brahmin, traditionally made up of priests and

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teachers. The British developed this role and the Brahmins were given key clerical jobs around the country. These days there is still a notable prevalence of Brahmins in the country’s most high-powered jobs, including many previous Prime Ministers. Second came the Kshatriyas, who were once warriors, and then the Vaishyas, the old merchants, who are still regarded well in society. The latter of which can now be thought of as the middle class, making up around a fifth of India’s population. Once you get below that, there were the lower classes- the Shudras, then Adivasi- who make up 30% of the Indian population. Before finally getting to the bottom of the varna caste system, the Dalits, sometimes described as the untouchables, who are said to make up 16-17% of the population (although it’s important to note that these percentages are difficult to estimate). These days, in an attempt to lose the derogatory connotations of their names, these lower castes are more likely to be known as Other Backward Castes (OBC), Scheduled Castes (SC) and Scheduled Tribes (ST). And in a real attempt to reverse the disadvantages they are subjected to, the government has introduced the idea of positive discrimination. This involves making sure people from OBCs, SCs and STs have the same

Mysore Palace, Mysuru, India

opportunities. A certain amount of jobs and university places are reserved for them in an attempt to finally shake free these social shackles which were implemented by the British Raj all those years ago. However, even this attempt for equality has created certain problems. The past few years have seen violent riots as people protest this artificial method of university places and job distribution, the latest of which saw half a million protestors bring the city of Ahmedabed to a standstill in August this year. Whether it’s the higher castes saying they are missing out on jobs, the middle castes who want to become classified as OBCs and receive their benefits, or the lowest castes who still don’t believe enough is being done to address the inequality and prejudice they face, caste tensions are still prevalent in the country. And that is only one of the negative legacies left by the British Raj. Another of the less successful products of the British Raj was upon its conclusion- the partition of India. Not only did this displace 14 million people (making it the largest migration in human history) but, even then, it didn’t really work. The fundamental idea behind the partition was that the three main religions- Hinduism, Sikhism and Islam, were not compatible in the same

country, and the easiest way forward would be to separate them. Muslims could go to the Dominion of Pakistan (modern day Pakistan and Bangladesh) and Sikhs and Hindus could go to India. However, as seen at the beginning of this article, this division didn’t go particularly smoothly. Some say it was a sloppy partition, done in a rush as the British left, which didn’t clearly define which territories belonged to who (the northern Kashmir region being the key area both countries still claim to). Ever since there has been a rather tense relationship between India and Pakistan about which territory is whose, on four occasions culminating in wars which have seen thousands of lives lost on both sides. Of course, it’s difficult to tell how much of what has happened to India is due to the British colonialism, and how much would have happened anyway. It is also difficult to say that this period has permanently tarred or, maybe even improved, the nation, because who knows what would have happened to India if it weren’t for the British East India Company. It could just have easily been the Dutch or French equivalents who conquered the country, changing its destiny in a different direction. And that’s one of the shared sentiments today, that if any country had to have taken over India, Great Britain was one of the best for the job. That’s not because of a particularly good track record at colonialism, but because of the undeniable positive aspect of the English language. India has over Castlefield, UK www.globalpropertyscene.com |

twenty official languages, however these days, the majority of people speak either Hindi or English. And as it is a global lingua franca, having English as a primary or secondary language is an incredibly useful skill. Another thing colonialism is notorious for doing is trying to impose its own customs onto the new nation and quelling local traditions. Whilst this is normally seen as a negative, it occasionally produces positive results. One of which in India, was a ban by Queen Victoria in 1861 on the custom of ‘sati’. Sati was an ancient funeral tradition whereby a widow would commit suicide on her husband’s pyre. Before it was banned there were an estimated 500-600 cases of sati every year. Of course, respecting local customs and national traditions is important, however, the countless lives saved by banning this practice over the years is undeniably a positive. However, one of the most famous things to come out of the British Raj period, which not only shaped the nation but also shaped the world, is Mahatma Gandhi. Described as the ‘father of the Indian nation’ Gandhi used peaceful protests to promote Indian independence amongst other noble causes (one of which was improving the lives of the lowest ‘untouchable’ caste and campaigning for their rights). Although assassinated in 1948, his legacy still lives on around the world. He has influenced numerous civil rights movements and leaders including Nelson Mandela and Martin Luther King. In India, his birthday (2nd October) is a national holiday and is celebrated around the world as ‘International

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Day of Nonviolence’. It is hotly debated around the world as to whether the British colonialism of India shaped the nation in a positive or negative way. For the most part, people lean towards negative, believing that the East India and British Raj interrupted the country’s natural progression and oppressed the people and culture in inexcusable ways. However, in comparison to some other nations’ terrible experiences of colonialism, it definitely could have been worse. And ultimately, although some remnants of the British Empire are still evident in modern India, the country truly has now formed its own identity. This is in part because India has such a young population- the median age is only 26.6 years old. Plus, India is home to more people than the whole of Africa. In 2013 the population of India was estimated to be 1.252 billion people, whereas Africa’s was only 1.111 billion. The country is vast and adaptable, home to such a large amount of people, religions, languages and culture. Modern India Today, India is a wonderful amalgamation of modern and old-fashioned. It has a growing middle capitalist class, an extremely wealthy upper class, but still has large communities in poverty. Sprawling slums have few facilities and thousands of illegal, dangerous businesses are pressed against affluent areas in city centres. In some ways it can seem almost

Manali, India

European- in the morning rush hour everyone catches the train to work in the city, but then you notice that there are no doors on the train and people riding on the roofs. One of the most publicised examples of disparity in the country is the fact that India has a space programme- Indian Space Research Organisation (ISRO). Although established in 1969, it made headlines in late 2014 when it managed to send a satellite to Mars. Inevitably, this leads many to question why India is putting their money into an expensive, technologically advanced space programme as opposed to using the money to tackle the country’s poverty. This is a valid concern- India’s poverty level is one of the worst (or at least most large scale) in the world. After changing their methodology in 2014, the World Bank came up with a world poverty level of 872.3 million people living below the line, 179.6 million of whom live in India. This means that for a country which makes up 17.5% of the world’s population, it also accounts for a large 20.6% of the world’s poverty. However, India is not just a third world country and has large space ambitions to better itself for everyone. After all, ISRO attracts talent and creates jobs- there are approximately 16,000 scientists and engineers working for the programme. Plus, it produces results – satellites orbiting the earth can be used for numerous reasons: better communications,

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weather observations and military capacity. Crucially, India is not as poor a country as some people may believe. Currently the International Monetary Fund (IMF) rates the country as the 7th largest economy by market exchange rates, or the 3rd by purchasing power parity. It is also worth noting that the first two quarters of 2015 saw India being the world’s fastest growing major economy, a trend which the IMF expect to continue at an impressive 7.5% forecast for the year. India is also one of the BRICS nations (Brazil, Russia, India, China and South Africa), a group of five emerging economies many expect to overtake the current superpowers in coming decades. As of 2015, the BRICS make up approximately 3 billion people, or 42% of the world’s population. However, even their GDPs combined make up only 20% of the gross world product. Nevertheless, if India is expected to grow by 7.5% this year, this is at least more than double the 3.3% average for what the IMF calls ‘advanced nations’. India has also recently been cited as the most successful of the BRIC nations (omitting South Africa, which, being the smallest and newest nation to join, is often overlooked), as the others face problems with their economies: > Brazil is in the midst of corruption allegations and scandals. > Russia is facing strict sanctions from the West. > China’s stock markets have crashed. > Whereas India is in a strong position to keep growing and succeeding. India is home to great levels of urbanisation, as every year an estimated 10 million people move to cities from more rural locations, making the country home to one of the largest rural to urban population shifts ever recorded. That being said, in 2014 the urban population only accounted for 32% of the whole country as opposed to a global average of 53.4%, meaning the country still has a way to go. India is also seeing success because of the election in 2014 of a new and rather popular Prime Minister- Narendra Modi. He has promised a series of forward-thinking and technologically-advanced policies. It appears that Modi does not want India to be viewed as just some third world country, and in the same vein as ISRO’s continued funding, he is focusing on creating a hi-tech nation well established in the 21st century. One of his most publicised initiatives is ‘Digital India’, which aims to provide universal access to mobile connectivity, public internet access programme and e-governance, amongst other things. He has also recently been on a trip to Silicon Valley in the US, trying to create interest in investing into the nation and their technologies. And so far, he’s clearly had a lot of influence: However, looking forward, some still think India has a long journey ahead if it wants to become a fully-fledged first world country. Pwc recently published a report looking at the steps India will have to take to fully transform the nation and secure its future, one of which is to raise its GDP to an enormous $10 trillion (from its current $2.470 trillion). By increasing its growth by the necessary 9% every year, in 2034 India would be the world’s third largest economy. It’s not an easy process, and would involve creating 10-12 million jobs every year for the growing middle class and those attracted to the cities. However, should all this growth be recognised, it would also have the advantage of propelling at least 10 companies into the global top 100. Although these figures all sound incredibly high, perhaps under the strong leadership of Narendra Modi they may not be as unachievable as first thought. After all, despite India’s turbulent history of foreign rule, war and the assassination of its most influential and popular figure, it has overcome these (amongst many other events) to become the nation it is today. And even though it faces criticism for poverty levels, spending on the wrong projects, and focussing on technology instead of other issues, it is still succeeding where other emerging nations are faltering. So why shouldn’t India succeed? Why shouldn’t it take only the positives of centuries of British rule and emerge victorious? Why shouldn’t it be able to alleviate poverty levels meanwhile running a thriving space programme? And why shouldn’t they be able to raise $10 trillion and propel the nation to truly new heights?

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Goa, India

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HOLIDAYS ARE COMING Weird and wonderful Christmas traditions from around the world Words : Christine Schulz | View : S.Borisov

It’s that time of the year again: Christmas is just around the corner! As another year comes to an end, streets are lit up with colourful Christmas lights, shops are stocked up with decorations, seasonal sweets and treats, wrapping paper, ribbons and all things Christmassy, whilst radio stations are churning out the same classic Christmas hits. It’s the season when everybody is getting excited about the festivities ahead and starts buying presents for their loved ones. Christmas jumpers are worn, cookies are baked, Christmas parties are held – all in all people are having a jolly good time. In essence, Christmas is a Christian tradition that celebrates the birth of Jesus Christ. It is a festivity that is celebrated across the entire world, slightly adapted by each nation to fit its own culture. Really, every country has its own Christmas traditions, some perhaps more exotic than others. So coming up to another festive Christmas season, let’s take a look at some of the most wonderful and perhaps even a little more unusual traditions around the world.

little ones would leave cookies and milk out as treats for Santa the night before, to refresh him as he makes his way across the world. Mostly still in their pyjamas, everyone goes to unwrap their presents and spend the morning together with their families. Afterwards people then get changed to have a huge Christmas meal together, typically centred around a large turkey. During the meal a famous tradition is to make use of so called Christmas crackers, a cardboard tube wrapped in holiday wrapping twisted at both ends. Here, two people each pull one of the two twisted ends until it splits. Whoever holds the longer end wins the prize inside it, which is normally a small novelty such as playing cards or little toys.

Let’s begin in Europe…

A few hundred miles away, in Germany and Austria, Christmas fun starts on December 6th – a day otherwise known as St. Nicolaus Day. The night before, kids leave their shoes outside the front door, only to find them filled with little treats the next morning. Actual Christmas Day however is on 24th December – the beginning of a three day national holiday. It is quite common for people to attend mass during lunch time or at night on Christmas Day.

In the UK people celebrate Christmas on 25th December – early in the morning children wake up their families, knowing that the night before Father Christmas has stopped by their house to leave them presents underneath their abundantly-decorated Christmas tree. Oftentimes the

In Germany, it is believed that it is indeed not “Father Christmas” who brings the presents, but instead the “Christkindl”, the angel-like baby Jesus. Because of that, the famous German Christmas markets (which generally begin towards the end of November) are also known as

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Prague, Czech Republic

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“Christkindl” markets – here you can find everything from Lebkuchen (the German version of Gingerbread), Gluehwein (hot spiced wine) and lots of other little knickknacks. Additionally, the two countries Germany and Austria are known for another, rather wacky Christmas tradition: St. Nikolaus (the Germanic version of Santa Claus) has a rather terrifying counterpart – Krampus. He is a devil-demon creature that comes with cowbells and rods, who opposite to Father Christmas, scares everyone who has been naughty rather than nice in the past year. Next door to these two nations is the Czech Republic. Christmas for many is a time to celebrate love and romance. So in the Czech Republic for instance, unmarried women strongly believe in a marriage-related superstition. On Christmas day, single women all over the country are meant to stand in the doorway and throw a shoe over their shoulder. It is believed that if the shoe lands on the floor pointing towards the door, she will get married in the year ahead. This is in fact such a dearly held tradition that many women actually begin to think about their wedding, even if there is no groom in the picture yet. A little bit further North, Finland has a rather astonishing Christmas tradition. Being a secular country, families stop by cemeteries to commemorate the dead. It is not as morbid as it sounds: religious people as well as non-churchgoers follow this deep-rooted national tradition. They put candles on the graves of the dead and light them up. In a graveyard covered in white, thick snow, you can imagine how beautiful a field of candles looks like – almost fairy tale like. It is quite common for cultures to remember the dead: In Portugal for example people tend to leave extra plates out at the dining table for deceased relatives during ‘consoda’ (the traditional Christmas feast). Many think that by doing this, they ensure good fortunes for the household for the year ahead. On the same peninsula as sunny Portugal is Spain – a country that is rich in culture and traditions. A Christmas ritual that perhaps swings more towards the ‘unusual’ Christmas customs category takes place in Catalonia, North-eastern Spain. Families here tend to keep a log named ‘Tió de Nadal’, which is fully decorated with a grinning face and hat. The little children are encouraged to feed the log and even cover it up with blankets on the nights leading up to Christmas. On Christmas Day, kids beat the ‘Tió de Nadal’ (which is still covered in blankets) with sticks – just like a piñata. When they lift the blankets then, they find presents waiting for them. Catalonians also have something called ‘caganers’, small additions to your typical Christmas Nativity Scene. They are quirky little figurines that come in all sorts of characters from traditional Christmas personalities to actors, sporting figures, singers to politicians and many more. Catalonians are so fond of these little figurines that they are a standard ornament in almost every household. As established, it is not always Father Christmas or Santa Claus that brings the presents. According to Italian folklore, it is an old witch named La Befana who delivers gifts and candy to children on Epiphany Eve (January 5). She is usually portrayed as an old lady riding a broomstick covered in soot as she enters homes through chimneys. Similar to the UK, Italian children also leave refreshments out for La Befana, however it is not cookies and milk, but instead it’s wine and a variety of hearty snacks. Believe it or not, witches in general are quite a common theme around Christmas across the world. In Norway for example, all households hide their brooms on Christmas Eve, because they believe that if they don’t, evil witches and spirits will haunt their homes and steal their brooms, as Christmas is associated with the arrival of evil spirits. Some Highlights Outside Europe The first country to be able to celebrate Christmas is Australia – the place where all the fun begins. They celebrate this joyous occasion in the middle of their hot summer, so Santa arrives here in style: red swimming shorts, big white beard, and familiar Santa hat – all whilst making his way to Australia on a surfboard, rather than the traditional winter sleigh carried by reindeers.

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Frankfurt, Germany

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Because Christmas here falls in the Australian summer holiday time, families and friends typically get together at the beach, where they have barbecues and picnics rather than a traditional turkey dinner at the table. Perhaps a little more unusual in terms of decorations is the Ukraine; here you will find ornaments that aren’t what you expect to see around Christmas time: spider webs. Why? Legend has it that once upon a time there was a poor widow, a mother to a large group of children. One day in the time leading up to Christmas, she found a Christmas tree growing in her yard, but simply had no money to decorate it. On that Christmas Eve however, a spider – an eight-legged angel – came down and weaved a fine web all over the tree’s branches, which then sparkled in gold and silver in the dawn light the next morning. To celebrate this Christmas miracle, Ukrainians usually tend to embellish their homes and trees with shiny spider-themed trinkets as homage to the blessed family. Eastern European countries in general such as the Ukraine or Russia celebrate Christmas Day later than Western cultures: festivities take place on January 7 instead of on or around 25th December. In the Russian influenced cultures, it is New Year’s Eve that’s more important than Christmas, as it signifies a new beginning to a new year. On both occasions, it is a big tradition to pay a visit to their local sauna, as a way to purify oneself from the past year and relax during the festive season. On the other side of the world, in Venezuela – particularly in its capital Caracas – people have a wonderful tradition of changing things up a bit when it comes to your standard Christmas celebration. Roads are shut down on Christmas Eve and Christmas Day, so people can make their way down to church in nothing less than roller blades! Locals scoot down the roads and shoot off fireworks to announce the birth of Jesus Christ. The previous night, children tie a bit of ribbon around their toe and let the other end of it dangle out of the window, so the people driving by can pull on the string to make sure that the kids don’t sleep in on Christmas Day and miss the yuletide Mass. A little bit up North from Venezuela, in the US, Americans have their own little ritual: ‘The Running of Santas’. It’s a modern-day Christmas celebration, otherwise known as ‘the world’s naughtiest bar crawl’, whereby floods of people all across the country dress up as Santa Claus literally running from bar to bar with the aim of drinking as much alcohol as possible. As you can see, Christmas is celebrated across the entire world, even though some nations’ major religion isn’t Christianity. One country that this becomes particular obvious in, is Japan. Although its two main faiths are Shinto and Buddhism, not Christianity, the appeal of Christmas as a branded occasion hasn’t got lost in translation. Many Japanese are enamoured with the idea of celebrating a Western style Christmas full of traditional Christmas meals and customs. In general the nation is heavily influenced by Western media – so much so that a lot of families nowadays tend to fill their stomachs with chicken buckets at KFC, making Christmas Eve in Japan KFC’s most profitable day of the year. One thing is abundantly clear: Christmas varies around the world. Some celebrate it surrounded by snow and frost, whilst some celebrate it in the burning heat. Every country has their own Christmassy traditions and, although seasonal dishes and the actual celebration might even fall on a completely different day or even month, one thing still remains the same – around Christmas, people get together with their family and friends to spend some quality time with each other. It’s the time to celebrate and be merry, to catch up with old friends and take some time off from your busy work life. During Christmas time, everyone around the world comes together to celebrate this joyous occasion and welcome the New Year, albeit in very different ways.

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Moscow, Russia

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ROBOTS IN THE WORKPLACE A Robotic Future - A Curse or a Blessing? Words : Christine Schulz | View : Vasilyev Alexandr

In this day and age, robots and machines are almost everywhere: we use super fast computers in work, have smart TVs, laptops and tablets in our homes and are practically accompanied by smartphones everywhere we go. Modern human life has been enhanced by new technologies throughout the past century in pretty much all aspects of life. However, robots have been displayed in a rather negative light – just consider how many Hollywood classics such as “Terminator”, that tell the story of how humans fight a war against man-made robots gone rogue. Even in his novel ‘I, Robot’ famous author Isaac Asimov created the so called ‘Three Laws of Robotics’ to ensure that humans would maintain the upper hand in a future full of highly-advanced robots. 1) A robot may not injure a human being or allow a human being to come to harm 2) A robot must obey orders given to it by human beings except where such orders would conflict with the First Law 3) A robot must protect its own existence as long as such protection does not conflict with the First or Second Law As much as technologies such as the world wide web, smart devices, and even ordinary day-to-day objects such as ovens, washing machines, fridges and so on have helped us improve our lives, people sometimes look sceptically at the prospect of an increasingly modernised robotic future. These people typically are afraid of machines being able to outsmart and outdo a human being, as they fear that at one point they could become independent thinkers who want to take over the world for

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their own personal benefit. But one might wonder why humans would even think of man-made machines being able to do such a thing. The reasoning behind it is quite simple: as human beings our most important instinct is self-preservation, followed by the need to be able to feed ourselves, possessing power and the basic desire to reproduce. That’s why it is so hard for many of us to imagine that any kind of intelligent entity wouldn’t have the same kind of drives and failings as us. Kate Darling from the MIT (Massachusetts Institute of Technology) explains: “We have a natural tendency to humanise everything and we are hardwired to respond to lifelike movement. We project intent on to it and social robots that mimic our movements, sounds, we subconsciously associate with emotions and feelings”. Undeniably, one of the major concerns when it comes to robotic life and even Artificial Intelligence (AI) is the threat these technologies pose to jobs. It is estimated by the Bank of England’s chief economist for example that in the UK alone as many as 15 million jobs are endangered to be replaced by machines within the next 20 years - that’s almost half of the 33.7 million jobs currently available in the country, particularly in the fields of administration, clerical industries and production. This number is set to be even higher in the US, with approximately 80 million positions at risk. Transportation is a prime example hereby: technologies here have come a long way, very quickly. Nowadays there are driverless cars (preliminary

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driven by the work of Google), auto-piloted planes (both commercial and miniature versions) and many more. Once technologies have been fully developed and tested, such cars are set to replace conventional human bus drivers as well as train and subway operators, as automatic versions would prove to be more efficient and cost saving. As mentioned, even planes now operate on a pilotless basis, able to land even in bad weather conditions. However, many people - in particular the ones afraid of flying itself - would dread the thought of flying somewhere on an aircraft which is not operated by a human, fearing a system failure or any kind of technical difficulties. Other job categories would be affected by a rise of robots too. There are some machines out there that are able to paint, play an instrument and even write articles and reports completely by themselves. People are therefore quite split when it comes to their opinion of the advantages and disadvantages of creating almost human-like robots. Whilst people working in robotics envisioned to create machines able to care for the elderly one day as somewhat of ‘robo-carers’, many would argue that nursing positions are sure to survive the robotic revolution as they would have to posses the likes of fine motor skills, specialist knowledge and friendliness - all human attributes which robots so far tend to find rather difficult to master. So What Benefits do Robots Bring To Society? As mentioned earlier on, modern technology has enriched today’s society

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in many ways. We are able to stay in touch with anyone around the world at any moment in time, receive the latest news a few moments after events took place, program machines to do pretty much anything we want and even use the latest technology to help researchers look into medical matters, explore space and even save lives. The Medical Industry Particularly in the medical sector, advanced machines have assisted us to help determine the cause of illnesses in the form of MRI scanners for example and enabled doctors to cure diseases. Latest developments have particularly enabled the prosthetics sector to develop rapidly. Nowadays there are for example robotic limbs that can be used to help patients be able to use their whole bodies again. These robotic limbs are so advanced that once strapped to a person’s leg they can enable them to walk again. Sensors are put on a human’s skin at the base of their spine, which then in turn pick up what is known as ‘intention commands’ sent from the human brain down towards the spinal cord. It is in fact these commands that direct the mechanic limb to move again. This kind of technology has been used on polio victims to properly move and even walk again, which by any means is a great development. Whilst it is still in its infancy stage, researchers are working tirelessly on further developing newer and more enhanced versions of it, which is set to

benefit the likes of amputees and paraplegics as well as children affected by such cruel diseases once the robotic limbs are light enough for them to wear. Project M Most of us are already familiar with Apple’s Siri (or Android’s version of it). It is a system that allows an iPhone user to use their mobile device simply by using voice commands. Whilst its extensive knowledge base is wide, it is yet still limited, as Siri is a scripted programme, that when confronted with an issue or even an unsolvable problem is programmed to get itself out of the question or command by using pre-written responses such as jokes for example. Recently, Facebook has announced the arrival of M - a similar project to Apple’s Siri. M is a technology that will allow Facebook users to chat to it, as a type of personal assistant that they can ask just about anything and everything and help them with anything from setting reminders, getting the latest news, booking flights or even write emails. To be able to assist with all sorts of possible enquiries, M has been fed an unimaginably large amount of data mostly originating from the world wide web. Whenever it runs out of knowledge about one particular topic or is isn’t able to deal with a certain issue, the user is then redirected to a human trainer. Based on the response of the highly qualified trainer, the programme can then learn from its mistake and do a better job answering this type of query the next time.

The Crux of the Story Robotics are an essential part of human life aiding us with the right tools to further enhance life as we know it. Whilst robots and machines are becoming more and more evolved in the medical industry, transportation matters, defence sector and so on, it is estimated that we are yet years away from having any kind of technological advancement that could help us come up with a machine that is able to grasp the full complexity of the human brain. If used correctly, robotics can truly enrich our lives by freeing up time for us to deal with the most pressing issues that face us. Of course advanced technologies have their disadvantages of eventually replacing jobs in certain sectors, but if we have learnt anything from history - such as the invention of print or even the steam engine - there will always be new jobs and tasks at hand for people to do, simply because their robotic counterparts aren’t advanced enough yet. The robotic revolution has been taking place for hundreds of years and allowed us as humans to create wonderful things. Therefore these ever-emerging and advancing technologies should be embraced and celebrated. After all, who wouldn’t want terrible diseases to be cured or even have their own little robot take care of frivolous tasks to free up as much time as possible to take advantage of the great things that life has to offer?

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WHICH CITY SUITS YOU? Global Property Scene looks at the best cities in the world for investing in property, starting your own business, raising your family, and finally, easing into your well-deserved retirement.

Words : Christine Schulz | View : Shubhankar Sharma

Thanks to the effects of globalisation, we now live in a world that is increasingly interconnected. Differences in time and space don’t really have the same impact as they used to in terms of conducting business worldwide or keeping in touch with family and friends who live in another country. Gone are the days in which we were bound to stay in one place for the duration of our lives – a growing number of people now move away from their home countries, throwing themselves into new adventures in foreign lands. Since this trend appears to be here to stay, Global Property Scene looks at the best cities in the world for investing in property, starting your own business, raising your family, and finally, easing into your well-deserved retirement. Investing in Property Generally speaking, investing into anything at all can be a rather daunting process, seeing as you essentially are investing into the unknown. Stocks and shares in particular tend to be a more unstable investment opportunity, due to constant market fluctuations and global financial

uncertainty. In recent years however, one investment class in particular has come out on top: property. Buy-to-let, an investment into bricks and mortar, has proven popular all over the world. In 2014 for instance, the total value of the world’s property market hit $13.6tn, an unprecedented record high. The main driving force behind buy-to-let can be accredited to wealthy investors taking advantage of low interest rates worldwide after the financial crisis in 2008. If you wanted to seize the opportunity to invest in the booming property market, where should you as a potential investor concentrate your efforts? Well you could look towards the capital cities of the world such as London, New York, Paris or even Moscow – an obvious choice for many cash-rich investors. However, what you will oftentimes find in these capitals is an overpriced and highly saturated property market. Research into the property market suggests that it is in fact regional buy-to-let markets that are yielding the highest returns for their investors. One market standing out in particular is the UK’s thriving city of Manchester. Although house prices in Manchester are typically lower than in capital

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cities around the world, the demand for local rented accommodation has gone through the roof. This is thanks to an increasing number of businesses and thus young working professionals flocking into the city. HSBC reports that investors there see average returns of approximately 8% (2% more than in London). Due to the ever-growing appeal of rental accommodation in Manchester (particularly because of its flexible tenure option and central location), over a quarter of the city’s overall housing stock is made up of rental property. And this is only the beginning. Over time, house prices in Manchester (which currently stand at around £155,000) are set to increase, due to the city’s array of regeneration projects and schemes in planning such as the £1bn Devolution Deal, the HS2 Speed Rail Network and Airport City. So now is the right time to invest into England’s ‘second city’ and its flourishing property market, as you are set to see high yields over the next few years from your appreciating properties.

matter as much nowadays because of technological advances such as the internet making the concepts of time and space redundant when it comes to conducting business on a global scale. However, this is not 100% true. In fact, some countries more than others make it harder for entrepreneurs to launch their own business, mostly due to a lack of available financing, a high level of bureaucracy and extensive associated costs, such as rent or other expenses. So what city provides an aspiring entrepreneur with the most favourable conditions for starting a business? Looking at a variety of reports, there has been one city in particular that has continuously made it to the top of the list: Singapore. According to HSBC’s research, 87% of expats recommend the city-state as a good place to launch a company. Over half of the surveyed people think that Singapore offers them a better opportunity to develop and acquire new skills relevant to business than back in the UK.

Starting Up a Business In terms of starting a business, some would argue that location doesn’t

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Singapore provides entrepreneurs with excellent business conditions, with a variety of pro-business policies, superb infrastructure and hassle-free

Manchester, UK

entry/exit options thanks to special visas and passes made readily available. For instance, it offers international business owners the Global Investor Programme, which provides then with an easier way into the country. It aims at facilitating entry and stay for international entrepreneurs in Singapore by supplying them with the so called EntrePass â&#x20AC;&#x201C; a pass valid for up to two years, issued after the submission of a comprehensive business proposal, which allows even immediate family members to live in the city whilst the business is set up and continues to grow. The workforce in Singapore is known as the most skilful and motivated group in the entire Asia Pacific region, which furthermore adds to the cityâ&#x20AC;&#x2122;s business favourable regulations environment. As an entrepreneur in Singapore you benefit from unrestrictive immigration laws, as well as a range of Free Trade Agreements and Double Taxation Agreements. The city truly does provide international entrepreneurs with the optimum conditions for setting up a new business, as the experiences of many expats can testify.

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Raising a Family When you decide to move away, your family obviously plays a huge part in your decision around where to relocate. No one wants to move their loved ones into a place with a high crime rate, political instability or generally into a dangerous situation. Instead high quality of life, good educational prospects and so on all influence the potential attractiveness and appeal of a city. Repeatedly voted as one of the best places to live, GPS takes a look at Auckland as one of the best cities in the world for raising a family. Auckland is the largest and, with a population of over 1.377 million, the most densely populated urban area of New Zealand, and is considered one of the best and safest places to live in the Asia-Pacific region. According to data from the Economist Intelligence Unit, it is also one of the world’s most liveable cities. From the Economist’s index it became obvious that medium-sized cities within wealthy countries are the favourite destinations for expats because they aren’t over-populated, but instead offer low crime levels, a good infrastructure network and a variety of recreational activities. Auckland offers all of the above – New Zealand as a whole is known to be one of the least corrupted countries in the world with a relatively low unemployment rate and thus considered financially stable. Additionally, Auckland is home to a large number of top-class institutions such as The University of Auckland, Auckland University of Technology and others. As a city, Auckland has anything you could potentially ask for when it comes to raising a family: a good education system with world-renowned institutions, a bustling city centre full of cafes, restaurants, bars and shopping facilities, as well as a huge selection of leisure activities ranging from surfing, horse riding and hiking to mountain biking and many more. And to be honest, who wouldn’t want to live with their family in a warm, sub-tropical climate surrounded by beautiful nature and endless beaches? Sunshine, warmth and friendly people would definitely make the everyday hurdles of life a little bit easier to deal with. Retiring Deciding on the best spot for retirement is dependent entirely on what your personal preferences are and the amount of your financial assets. Some crave sunshine and beaches, whilst others want mountains and forests. Some retirees want somewhere to make their small pension pots go further, whilst others want to live in luxury. However, there are a number of factors that all people looking to retire abroad have in common: they want access to excellent health care, good transportations networks and a place that offers them financial stability and security. Based on these factors, the winner of ‘best city to retire in’ is Switzerland’s beautiful capital - the city of Bern. Thanks to Switzerland being a financial safe haven because of its strong banking system, its citizens are said to have one of the highest levels of material wellbeing worldwide, according to the 2015 Global Retirement Index by Natixis Global Asset Management. This index points out the country’s overall three main selling points: • It is an extremely well-developed economy with an excellent financial system and regulations • It offers its residents access to a broad range of high-quality healthcare and social services (with the average life expectancy now being almost 83 years) • It continues to invest heavily into further improving infrastructure and technology. Switzerland as a country is truly breath-taking – situated right next to the Alps, it benefits from stunning views over what are some of the most beautiful mountains and valleys in the world. Bern possesses stunning scenery and, although it is de facto the country’s capital city, it is one of the most peaceful areas in Switzerland. The medieval city of Bern has been recognised by UNESCO as a Cultural World Heritage Site, as it has managed to retain feature characteristics and buildings of its 12th century origins. For pensioners this city is absolutely ideal: it is architecturally beautiful, possesses an excellent infrastructure system (with everything being easily reachable by foot), offers one of the world’s longest shopping

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Singapore

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promenades, is located in the heart of Europe (allowing quick and easy travel to neighbouring European countries such as France, Germany, Italy and Austria) and it furthermore has a high proportion of English speaking locals. So how does it work for you as a non-Swiss resident to retire in this dream destination? European laws and regulations make it relatively easy for EU citizens to gain Swiss residency during retirement no matter what age. All that is required is that you are not working in Switzerland and your financial assets add up to approximately £38,000 a year (equivalent to $54,000 or EUR 41,000). Having Swiss residency as a retiree will also allow your spouse, children and parents (if financially dependent on you) the right to live with you in the country even if they themselves aren’t EU citizens. One of the main advantages for cash-rich retirees in Switzerland however is the Swiss lump-sum taxation, with which you only pay taxes on an income based on the value of your house (without filling in a complete tax

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statement). The amount of tax you pay is not concerned with your income, but rather with your spending on rental payments etc., meaning that your annual rent is taken as an estimate of your spending. Your taxable “income” then is equal to five times this annual rent, paying only the standard tax rate for the city and region you live in on top of that. So where is the best place to…..? In reality, starting a business, raising your family, and sometimes even retiring are all interdependent. If you already have a spouse and children, it will influence your decision as to where in the world you want to move to start up a new business, and vice versa. Similarly, you typically choose to retire somewhere overseas together with your family somewhere, rather than by yourself. Whatever city you choose to invest in, launch a business in, raise your children or eventually retire, depends entirely on you as a person – your wants and needs, your resources and your personal circumstances. Whilst Auckland for example might be someone’s dream city to settle down in

Auckland, New Zealand

with their family, some might find themselves preferring somewhere that offers them the complete opposite. However, the cities of Manchester, Singapore, Auckland and Bern all offer exceptional advantages as well as having their own personal unique selling points in each discussed field. What hopefully has become apparent throughout this article is that the world is full of great destinations besides the town or city that you are living in â&#x20AC;&#x201C; technological advancements are increasingly allowing us to take advantage of everything and anything no matter where. So the next time you consider investing in property, starting a business, settling down with your family or retiring somewhere, have a look outside your home nation â&#x20AC;&#x201C; it could be the case that another city in another country would meet your wants and needs far beyond anything you had ever dreamed of.

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Architecture Planning Structures Urban Design 56

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BUILDING THE CITIES OF THE FUTURE As the world’s population soars, is a new era of sustainable cities the answer to urban sprawl? Words : Samantha Jones | View : Ambir Tolang

The world is changing. The United Nations (UN) has forecasted that by 2020, the global population will have grown by a staggering 380million people. That’s 380million more mouths to feed and 380million more people to house. Overpopulation is now a serious global issue, and the impact it will have on future generations is an argument that is being played out by numerous governments the world over, as current housing stock in most developed, and developing countries, continues to fall short of population levels. Is the amount of people on the planet the real issue though? Or is the underlying problem where they are, and will be, located? There is physically enough land on earth to cater for the growing world population, more so than we will ever use. Think of the vast expanse of the Sahara desert, or the miles of scrub land in the southern American states – huge areas that are uninhabited apart from small nomadic tribes or remote cattle ranches. No, the problem the world is facing isn’t too many people; it’s the availability of the resources we rely on to build our societies – food, water, electricity, gas. Resources which cost governments money to construct, implement and run, resources without which our cities and towns would not be able to function and survive. The World Business Council for Sustainable Development (WBCSD) is a CEO-led organisation dedicated to working towards a sustainable future

for all. Identifying the issues of climate change and overpopulation as one large, complex global problem, the WBCSD has compiled its Vision 2050 report. 18 months in the making, the report was produced by the CEOs and experts from 29 leading companies across 14 different industries, in consultation with more than 200 companies around the world. The Vision 2050 report has one specific role – addressing how to accommodate a population of 9 billion people in a world with limited natural resource, and how to educate business leaders and governments on how this can be achieved sustainably; not just economically, but socially as well. The warnings in the report if the future-proofing of our global society were not to happen draw stark parallels with the dystopian futures depicted in numerous Hollywood blockbusters, where crops are scarce, crime rates are high, and the population is crammed into warren-like structures, sharing basic resources like food, water and sanitation. A scary scenario of the future if ever there was one, but potentially a reality if we refuse to acknowledge that our cities as they currently stand are not sustainable, particularly in the developing world. So how do we combat this inevitable influx of people into our already overcrowded cities? The UN estimates that by 2050, 66% of the world’s population will live in urban cities south of the equator. With overcrowding already an issue in most countries, many of these cities won’t be able to

Ukraine, Europe 58

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Seoul, South Korea

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cope with an increased number of bodies, and the creation of slums is a very real problem, affecting the standard of living for all who dwell there. So how do we build for the future? In particular, how do we increase the density of our living areas, without diminishing our quality of life? Green spaces and communal areas need to be thought of, and planned into, the blueprint for any future developments. Planning for the future does not just mean ensuing there is physically enough room to house the population; it also means taking into account our social well being Tianjin Eco-city Intended as a model for sustainable development, the Sino-Singapore Tianjin Eco-city is a joint venture between the Chinese and Singaporean governments. Designed to house a population of 350,000 people over 30 square kilometres, the £24bn project is 40km from Tianjin City Centre and 150km from Beijing. The vision for Tianjin Eco-city is ‘to be a thriving city which is socially harmonious, environmentally-friendly and resource-efficient’. Following 22 quantitative indicators, the development of the city has been designed as a blueprint for others to follow. Examples include: at least 12 meters of per capita public green space per person, and 20% of the energy used by the city should be from a renewable source like solar or geothermal.

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Located within one of the fastest growing regions in China, the Tianjin Binhai New Area, the site was originally comprised of barren land, saltpans and a 2.6 square kilometre wastewater pond, fulfilling the criteria on which it should be built. This once desolate waste land of polluted water now has a masterplan in place, which fully attempts to address not just the economic needs of the city, but its social and environmental needs as well. Land Use – the city is split into 4 districts, each of which have been planned to serve the basic needs of their residents. Business parks will be built next to residential neighbourhoods (mainly comprised of subsidised public housing), with communal amenities and commercial facilities all located close by. Transport – eco-friendly transport is one of the main focuses of the city (walking, bicycles and public transport), with motorised and non-motorised traffic separated to create a feeling of safety. In an effort to reduce carbon emissions, a light-rail transit system is intended to be the transportation of choice, as a replacement to cars and motorcycles. Environment – Green (vegetation) and blue (water) networks are planned throughout the city, to create a natural, living environment for residents. The core of the city will be open parkland, creating a green ‘lung’ from which green-relief eco-corridors will spread out across the city.

Yeosu-si, South Korea

Additionally, waterways will be linked together allowing for city-wide circulation, and a significant part of the water supply will come from desalinated water. The 270 hectare wastewater pond will be transformed into a fresh water lake. Set for completion in 2020, the city will eventually comprise 100,000 homes and hopefully become a model for future cities in China to combat rising pollution and population levels.

promoting a healthy, happy lifestyle. In addition to a rich work/life balance, new residents are attracted by the accessibility of the area. By 2016, it is expected that 60,000 employees will be working for the more than 1,600 companies, both international and domestic, that are located in Songdo City. Little wonder, when over 1/3 of the world’s population is within a 3 ½ hour flight from Incheon International Airport, and domestic travel times to Seoul and Gangnam are just 56miles and 45miles respectively.

Songdo International Business District Since 2001, South Korea has been leading the way in urban development, with the creation of its $35 billion sustainable city that promises to revolutionise the way that cities of the future are designed. Located along Incheon’s waterfront, this thriving city covers 1,500 acres, including 40 million square foot of commercial space, 35 million square foot of residential space and 10 million square foot of retail space. The idea of creating harmony between the living and working environment is truly realised here, with 40% of the city committed to green, public areas, and all 36,000 of its residents no more than a 15-minute walk from their home, work, school, or leisure activities,

A self-billed ‘proving ground’ for futuristic technologies, Songdo IBD boasts a number of “smart” infrastructure projects, including; > A pneumatic waste disposable system that sucks rubbish directly out of buildings directly into processing centres > Sensors underneath the roads detect traffic congestion and alter signals accordingly, to ensure the smooth flow of transport > Built on top of the Yellow Sea, special soil has been engineered to create a barrier between the salt water underneath and the delicate top soil the plants need to survive Constantly undergoing development, Songdo IBD continues to grow. New additions to the city include the Incheon Arts Centre, anticipated

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to be one of the country’s most sophisticated cultural centres and due for completion in 2017, as well as new retail destinations Lotte Shopping Town and E-Land shopping complex – both of which are on course for completion in 2016. So has Songdo achieved its goals? Hailed a success by many, and held up as an example of how sustainable cities can be designed and implemented for the future, Songdo IBD is certainly making a name for itself on both sides of the Atlantic. Host to The World Education Forum, The Global Bio Conference, and The Presidents Cup in 2015, in addition to the Asia Pacific Amateur Golf Championship in 2016, Songdo is clearly marking itself out as a destination of the future. Singapore Rewind 50 years and the Singapore you know today would be virtually unrecognisable. Now hailed as a ‘model for sustainable urban growth’, this once colonial outpost is one of the best examples of forward-thinking planning in the world. The chairman of the World Urban Campaign Steering Committee at UN-Habitat, Nicholas You, commented “It’s an island state with limited resources so it had no choice but to go green if it wanted to survive economically.” As early as 1963, the city-state recognised that fresh water was a finite resource, and one that was dwindling fast. As its population rose, a national water agency was created called PUB, which swiftly became responsible for the collection and disposal of waste in the city. Currently, 30% of Singapore’s water requirements are provided by a wastewater collection and treatment programme, made possible by the 17 reservoirs located in the city. They aim to increase this target to 50% by 2030. In its bid to become Asia’s ‘Fully Realised Smart City’, Singapore is developing a Smart Nation Program called iN2015 which, when fully operational, will connect all growth areas including transportation, healthcare and population density. The transportation network has already received a raft of investment into technology provided by IBM that has been designed, not just as a payment system, but as a way to collect traffic data and reduce congestion. There is even an government app called MyTransportSG, which allows residents and visitors alike to assess their proposed routes in real time, providing interactive maps and feeds from traffic cameras, direct to the users’ device. Further examples of Singapore’s commitment to sustainability include: > A tree planting day has been held every year since 1971 to encourage new growth across the city > Jurong Island was designated a chemicals hub in 1991, freeing up land on the island and saving companies money on capital costs > More than 80% of households are within a 10-minute walk of a park and/ or green space > By 2020 the rail network will double to 278km and by 2030, the cycle network will increase to 700km The concept of future-proofing our cities has been discussed by every generation, with the 1987 Brundtland Report defining it as ‘Sustainable development is development that meets the needs of the present, without compromising the ability of the future generations to meet their own needs”. As detailed here, the emergence of sustainable cities is clearly underway, with Asia at the forefront of innovative thinking and physical progression in delivering their concepts to the wider world. There will always be those who criticise an over-reliance on technology, citing a ‘terminator-style’ future, but without the benefits that computerised systems bring, will a sustainable future even be possible? As they say, only time will tell…

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Singapore

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INDIA’S FAVOURITE SPORT As the nation’s favourite sport, cricket in India has a dedicated following, with a legion of devoted and engaged fans in every corner of the country Words : Hannah Wilde | View : Mitch Gunn When thinking about India and all its various accomplishments over the years, naturally one’s mind will wander to feats like the East India Trading Company, its innovations in technology and, more recently, its controversial but nonetheless innovative space programme. But one area in which India has truly excelled in recent years is cricket. Whilst having a diverse talent pool in various different sports, cricket is undoubtedly where India shines—the country’s sporting prowess in cricket has become a thing of legend over the decades, both in India and beyond. As the nation’s favourite sport, cricket in India has a dedicated following, with a legion of devoted and engaged fans in every corner of the country. Incredibly, the sport has become to the Indian population what football is to the English, or baseball to the Americans—cricket has truly captured the heart of the nation. The summer of 2015 has seen India’s national cricket team ranked fifth in the world at Test cricket (the most famous format of the game, with a single match taking place over 5 consecutive days), and even more impressively ranked second in both One Day Internationals (ODIs, a game played over a single day) and Twenty20s (T20s, a game with only 20 innings apiece) by the International Cricket Council. However, it is not just this year that India’s cricketing power has been recognised as fact—it could be argued that India as a nation has produced more cricketing legends than any other country in the world. The history of Indian cricket The history of Indian cricket is colourful at best, with a string of

interchanging captains, an unpredictable win/lose ratio and even a match-fixing scandal that rocked the cricketing world. However, what cannot be questioned is that India has made a massive impact on the sport, bringing cricket to the forefront of national attention and even gaining a dedicated following around the world. The Indian love of cricket began when the country earned their eligibility to play in Test cricket in 1932. Although India’s journey towards international esteem was slow (having only registered their first victory in 1952), developments over the 1950s and 60s allowed the team to adapt to the modern game when they finally reached their sporting maturity in the following decade. This era earmarked the start of the upward trajectory for the Indian cricket team, an ongoing rollercoaster that catapulted India to the forefront of international cricket with the arrival of the first of its international superstars—the ‘Spin Quartet’ (four spin bowlers by the names of Bishen Bedi, E.A.S. Prasanna, B.S. Chandrasekhar and Shinivas Venkataraghavan), as well as the sport’s most well-known batsmen, Sunil Gavaskar. Finally India had a formidable attack structure in place, with incredible offensive bowling strategies combined with their strong batting mentality leading to back-to-back wins in the 70s against prolific opponents like England and the West Indies. India’s formidable line-up did not end there—the arrival of new players the following decade like Mohammad Azharuddin further increased India’s attacking aptitude, leading to the national team winning the Cricket World Cup against two-time defending champions the West Indies in 1983. Their

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winning streak seemed to go from strength to strength after this time, with India’s newly inaugurated all-stars winning the Asia Cup in 1984 and the World Championship of Cricket the following year. The latter end of 1980s saw another cricketing revolution for India—true cricketing superstars in the form of Sachin Tendulkar and Anil Kumble donned India’s iconic royal blue jerseys, and from thereon out completely revolutionised the modern game as we now know it. Tendulkar soon grew into his title as one of the world’s greatest batsmen, while Kumble and the later addition of Javagal Srinath in 1991 brought with them the coveted reputations as two of the best bowlers of their generation. However, despite the arrival of India’s many cricketing heroes during this time, the team’s international form was still something to be desired. In spite of benefitting from a stratospheric domestic form, India’s form away from home was still severely lacking, which proved to be a massive and almost insurmountable barrier between the Indian cricket team and international acclaim on a global scale. Surprisingly, during the whole decade of the 1990s India failed to win any of its 33 Test matches outside the confines of its subcontinent, despite having some of the sport’s greatest individuals at their disposal. In addition to their less-than-stellar away record, another of India’s recurring problems was an ever-revolving captaincy, which at the time of the 1990s was fluctuating between their star players Tendulkar and Azharuddin. In true Indian fashion though, the arrival of two new home-grown players destined for superstardom once again reversed the fortunes of this volatile team, this time in the forms of Sourav Ganguly and Rahul Dravid. In an act that could only be seen as prophetic, these two young players both made their debut in the same game against England at Lord’s in 1996, as both were destined for the national captaincy and entry into the Indian cricketing Hall of Fame over the course of their expansive careers.

of the limelight. The team then gained an incredible feat to cement their newfound return to favour—India was named second in the world in the ICC’s One Day International (ODI) rankings. For years India have shown their dominance in shorter ODI matches, a feat that was finally recognised by the world after their convincing win against Pakistan in early 2006, giving India the world record of 17 successive ODI victories whilst batting second, a feat that no other international team has since beaten. The last true era of change for India came with the rising in the ranks of MS Dhoni, who soon earned a captaincy that was destined to catapult him into Indian history. Under his reign, India won their first ever Twenty20 (T20) World Cup in South Africa, a victory made all the more sweet by defeating their rivals Pakistan in the final by just 5 runs. However, it wasn’t just T20 matches in which Dhoni’s team continued their prolific and successful run—successive Test victories against formidable opponents like New Zealand, Australia and Sri Lanka more than proved their new-found dominance on the Test field. If that wasn’t enough, 2011 saw India win the Cricket World Cup once more, becoming the third team after the West Indies and Australia to win the World Cup twice, as well as being the first team to win the coveted trophy on home turf. As a result, Dhoni’s captaincy is revered as one of the greatest eras of Indian cricket, and cemented the man himself to the history books as one of the country’s best captains. However, with the retirement of some of India’s greatest cricketers in rapid succession after this victorious run—Dravid in 2012, followed by the legend Tendulkar in 2013 after the successful completion of his 200th Test match—came the end of the iconic middle-order batting line-up that had both dominated and captivated international cricket for nigh on a decade. India—a team of superstars

Furthermore, in what can only be considered an act of tactical insight, the removal of Tendulkar’s captaincy then led to the team to once again regaining some of their former glory, success and acclaim—removing the burden of captaincy allowed India’s top batter to focus on his pitch performance, allowing him to excel as the world’s leading run-scorer in both Test and One Day International (ODI) matches, setting records that even to this day have not been surpassed. Just as things were finally looking up for India on the back of a successful victory over world champions Australia, a scandal soon put an end to the team’s winning run, rocking the international cricketing community and bringing India into disrepute. Two of its players—most notably recently-appointed permanent captain and star batsman Mohammad Azharuddin— were at the centre of a match-fixing scandal, the result of which saw the former captain served with a lifetime ban from international sport in what the BBC called “Indian cricket’s worst hour”. However, in true sporting fashion, the rest of the team rallied—keen to put this whole ordeal behind them, and eager to bounce back to their former glory. Indeed, the catastrophic scandal did in fact help India regenerate and, like a phoenix rising from the ashes, a new era was once again about to begin for the disgraced team. With a new millennium came a new beginning for Indian cricket, with the year 2000 allowing the country to maintain their unbeaten home record against the world’s number one, Australia. India in fact became such an opposing force in the early years of new millennium that Australian’s former captain Steve Waught labelled the country the “Final Frontier” because of their impenetrability on home turf. This victory opened the floodgates for India, allowing their confidence to end their abysmal drought away from home soil, with newly appointed captain Ganguly leading his team to victories as far out as Zimbabwe, Sri Lanka, West Indies and England, as well as obtaining their first ICC Champions victory in 2002. However, to borrow an old idiom “what goes up must come down”—and indeed India came down to earth with a crash in the following years. Their nigh-on perfect run for their country was over, and the Indian cricket team was suddenly and dramatically paralysed by bad form and poor fitness from its star players. Inevitably, defeats came thick and fast during this time, with continual changes in captaincy and coaching causing further furore for the team. In India’s way though, the team enjoyed a high-profile resurgence thanks to new high-profile arrivals to the team, this time superstar Mahrendra Singh Dhoni, returning the team to its former glory after three years out

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As truly incredible as the coups achieved by India’s national team undoubtedly were, the area in which India has always truly shone is in individual brilliance. India has always welcomed an influx of true cricketing legends throughout the country’s 83-year history, but the team has always been known more for their individual feats of excellence than for their overall team performances (which can be described as turbulent at best). Revered for nurturing the home-grown talents of some of the best players in cricketing history, India’s roster of true superstars that have graced the iconic blue shirt over the years is unparalleled. For those unfamiliar with India’s plethora of all-stars, here is a (by no means definitive) list of legends that have changed, and in some cases still continue to change, the face of cricket for ever. 1.) Sachin Tendulkar International career span: 24 years (1989-2013) You cannot begin to talk about the history of Indian cricket without hearing the name Sachin Tendulkar, a man who is widely considered to be the greatest batsman of all time. Starting his international cricket career at the ripe age of 16, Tendulkar rose through the international ranks as easily as picking up his infamous bat, leaving a trail of broken records in his wake. It’s impossible to count on one hand the amount of cricketing records broken by Tendulkar, with such incredible feats under his belt as being the world’s first cricketer to reach the milestone of scoring 100 centuries (in Layman’s terms, the first player in the world to earn over 100 runs in a single game over 100 times in his international career). His list of accomplishments goes on and on, but what truly sets out Sachin Tendulkar as a true cricketing hero is the fact that his two most prominent records, as the highest run scorer and highest centurion across all forms of the game, is still yet to be challenged. This amount of both national and international attention was not destined to go unnoticed, resulting in Tendulkar being the only sportsman to date to be a recipient of the highest civilian award offered by the Republic of India—the prestigious Bharat Ratna award. Similar to the UK’s OBE award, the Bharat Ratna is reserved only for India’s elite, so it is only fitting that one of the country’s best sportsmen received such a prestigious award (and for excelling at the country’s national sport, no less). Players like Tendulkar are one-of-a-kind, which is why his legacy lives on even to this day.

England vs India, 2013

Australian Open, January 20, 2013

2.) Mahendra Singh (MS) Dhoni International career span: 10 years (2005-current) Cemented in history as arguably India’s best (or certainly most famous) captains, MS Dhoni has led his team to unparalleled victories during his ongoing captaincy, and is still to this day the only captain in Indian history to lift all ICC trophies. Not only is Dhoni a wildly successful captain, he is also a stellar player in his own right as both a prolific late batsman and arguably the country’s best wicket keeper, so it comes as no surprise that Dhoni became the first Indian player to receive the ICC ODI Player of the Year award over two consecutive years. Such is Dhoni’s achievements in international cricket that not just sporting publications are aware of his star power—US publication Time Magazine even named Dhoni in their famous ‘Top 100’ feature in 2011, outlining the top 100 most influential people of that year. The Indian Government also chose to acknowledge Dhoni’s talent, presenting him with the Padma Shri award in 2009 (the fourth-highest civilian award in the Republic of India). 3.) Sunil Gavaskar International career span: 15 years (1971-1986) Another such player destined for the Indian cricket Hall of Fame is Sunil Gavaskar, a player notorious for his impregnable defence and almost limitless repertoire of bat strokes, coupled with his fierce determination and natural instinctive skill. However, what made Gavaskar truly unique was his skill to read and almost predict his opposition’s next move, with an unprecedented ability to offset both pace and swing bowlers alike even when faced with some of the best bowlers in the world. Such was his proficiency with bat in hand, Gavaskar held world records for the most Test runs and Test centuries scored (before they were broken by fellow teammate Tendulkar years later), as well as the first batsman to reach 34 centuries—a record that remained unbroken for almost 2 decades. Furthermore, as the first Indian batsman to score over 10,000 runs in international Test cricket, Sunil Gavaskar has rightly earned his place as one of India’s premier batting legends. 4.) Virender Sehwag International career span: 16 years (1999-current) Virender Sehwag is another of India’s most prolific batters—known for his aggressive batting styles, Sehwag in 2004 became the country’s first triple centurion in Test cricket (later to be overshadowed just 4 years later by breaking his own record, becoming the fastest batsman in the world to gain over 300 runs in a single Test match). These feats alone are enough to secure Sehwag’s fate in Indian cricket history but, like all true legends, his legacy doesn’t end there—he also holds the record for the most runs in an innings in a One Day International (ODI), scoring an unprecedented 219 runs against the West Indies in 2011. 5.) Rahul Dravid International career span: 16 years (1996-2012) Known as cricket’s last ‘classical’ batsman, Rahul Dravid is revered in the cricketing world for his flawless technique, his impeccable timing and his trademark batting style. Dravid is ranked third in the world for most Test runs scored (behind fellow countryman Tendulkar and former Australian captain Ricky Ponting), as well as India’s second-highest Test runner. Furthermore, it was not just his batting expertise for which Dravid was well-known—as a fielder, he still retains the record for taking the most catches in Test cricket, with his 200 catches well surpassing former world record holder Australian Mark Waught. Such was Dravid’s reputation in the cricketing community that renowned cricket publication Wisden named Rahul Drvaid in the top 5 Cricketers of the Year 2000, as well as a specific mention in ICC’s inaugural award ceremony naming him as the ICC Player of the Year and the Test Player of the Year 2004. As you can see, the past 30 years has produced some truly world-class players in Indian cricket, with some characters having changed the face of the sport beyond recognition. Legends like Tendulkar, Dhoni and Gavaskar will live forever not just in the hearts and minds of the proud citizens of India, but also in the hearts and minds of cricket fans the world over. India has been and will always be a pioneer of modern cricket.

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Pakistan vs India, 2013

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

Manchester, UK • Median Sales Price: $445,818* • Average price per sqft: $910

Note - Figures correct as of stated dates: * November 2015

New York, USA Los Angeles, USA • Median Sales Price: $611,000* • Average price per sqft: $911

• Median Sales Price: $1,311,437* • Average price per sqft: $1,635

Mexico City, Mexico • Median Sales Price: $85,000* • Average price per sqft: $570

Sao Paulo, Brazil • Median Sales Price: $225,000* • Average price per sqft: $174

Cape Town, South Africa • Median Sales Price: $76,788* • Average price per sqft: $184

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Mumbai, India Moscow, Russia • Median Sales Price: $371,000* • Average price per sqft: $723

Dubai, UAE • Median Sales Price: $277,694* • Average price per sqft: $490

• Median Sales Price: $125,351* • Average price per sqft: $812

Sydney, Australia • Median Sales Price: $594,667* • Average price per sqft: $810

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LOOKING FOR PROPERTY BUYERS? BE SURE TO EXHIBIT AT THE

Attracted by the largest advertising campaigns supporting any UK property investment events, the April and October editions of this show attract thousands of visitors – serious buyers seeking additions to their portfolios… …and why not enhance your return by emailing your proposition to 45,000 motivated buyers?

FOR FURTHER DETAILS ON EXHIBITING AT THESE EVENTS AND OUR EMAIL MARKETING SERVICE CONTACT US +44 (0)20 8877 0610

enquiries@propertyinvestor.co.uk

WHAT’S THE ALTERNATIVE? Gem Stones

Words : Michael Smith | View : Dimj

Often used to diversify an investment portfolio, precious gemstones seem like a good port for investment. However, despite their high minimum entry levels, precious gemstones tend to generate annual returns in the low single figures. Standing as a good hedge against inflation, rather than as a high-growth asset, gem stones are something that can be kept securely and offer a certain amount of usability. With so many options available it’s hard to select a strong contender. You will often hear the terminology “investment grade” gem stones. Not only does the term investment grade have no clear meaning, it has been horribly abused by fraudulent sales people. Many people cringe when they hear “investment grade” and a dealer can instantly ruin their reputation by using the term. The good news is we don’t have to break the bank to invest. At the lower end of the market we tend to find that the lesser value items tend to appreciate more. Another added benefit is they can be easily liquidated. The well known investment stones can often float in the market place till a suitable buyer is found. Low to moderate priced gems are the choice of many well-informed investors, but many an investor has also generated

excellent returns in the rare, high-end, or unusual segments of the market. So the question is how do you make a good return on investment? It’s important to stick to some simple guides when dipping your toe. Firstly, you need to be sure the stone in question at least wipes its face. If you buy a stone that is slightly above market rate, but experts claim to be a grower, chances are it wont. There has to be an instant profit in the item, no matter how small. By sticking to this idea your investment should ride out any unpredicted fluctuations. We buy “right”, we get a return. Another important thing to be aware of is to keep a keen eye on freefall. If demand and supply don’t marry sweetly you could find yourself with a large loss. Knowing when to off-load is key. Best bet is to stick to the 5pc rule. If your margin shrinks below this minimum percentile, it’s time to sell. When it comes to the gem industry, like many others, it’s all about the contacts. If you hope to make any kind of notable returns you need to know a supplier that can deliver product at retail. Crowd pleasing gems will be hard to obtain if you don’t know the right people. For instance, an

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1,111-carat stone was discovered in a Karowe mine, about 500km (300 miles) north of the capital, Gaborone. It is the biggest diamond to be discovered in Botswana and the largest find in more than a century. The likelihood for this stone is a fragmentation. It will be broken into a collection of very large stones, then distributed to well connected suppliers. It’s getting to know the suppliers that will help you find the best deal. Currently the hottest destination for stones is Botswana. After decades of just mining rough diamonds, Botswana’s capital Gaborone now cuts, polishes and sells the precious stones itself. Most people may be unable to find Gaborone on a map, but it’s becoming a regular destination for global diamond traders. The only way large mining giant De Beers make strong returns is going straight to source. You need to aim to do the same. Above all, you need to have good knowledge of the product. If you’re knowledgeable enough, you can shop for pre-owned gems at flea markets, pawnshops and estate sales. You can also develop networks of jewelers who wish to sell or otherwise liquidate coluored gems they come

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across. Sometimes you can find gems considerably below current values. You must have the expertise to identify gems, be able to distinguish between natural and synthetic stones, and be prepared to do a lot of legwork. Some people get a thrill from the hunt and greatly enjoy this method. And finally be prepared to see a more grande design. In some instances, it’s possible to add extra value to a gem stone. Start with a re-cutting. Some stones shapes have become dated, and unless the stone has a particular history it can hamper the stones growth. Examine which stones are changing hands consistently then adjust accordingly. The same goes for the setting. Engagement rings are very much subjective, but there are strong sellers that always achieve good results. Track down an unloved stone, adjust and resell. Which leads us neatly into marketing, a small budget can generate some interest and when you have buyers vying for the same product you can expect a good outcome. I’m sure having read the above, you may feel gemstone investing is not necessarily for you. But for those who love fine gemstones and beautiful jewellery, rare gems have a good history of increasing in value over time.

White Diamond

When other markets are on the decline, you will often find gemstones tend to be a reliable store of value. Though gemstones are not as liquid as gold, a high quality stones such as a Burmese ruby or Ceylon sapphire will always retain its value. And with the discovery of new stones like a neon spinel in 2007, there are plenty of new opportunities in the market place. It’s also worth remembering, in general, the world demand for fine gemstones far exceeds the supply, and gemstone prices mainly move upward over time. The top 5 options 1. Ruby Unheated Burma Ruby Considered the rarest of the coloured gems, a Burmese ruby has been for a long time the ultimate investment gem. A larger sized, fine, unheaded Burmese ruby can expect to achieve between £250,000 £350,000 a carat at auction prices. Vivid red (a colour know to experts

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Blue Sapphire www.globalpropertyscene.com |

as pigeon’s blood), is a very striking shade and is the most valuable. Unlike a lot of investment stones, rubies will have thin mineral inclusions (needle strands), meaning colour will be more essential rather than clarity.

result of controversies over treatments with artificial resins has damaged their reputation slightly. However fine untreated emeralds continue to be reliable investments.

2. Blue Sapphire

You best port of call is Columbia, where large untreated stones are the most valuable.

Ceylon Sapphire 4. Spinel Currently sitting at the number two spot, the Ceylon Sapphire, has strong sales to both the investment and private collector. The most difficult Ceylon Sapphire to obtain is from Kashmir. It’s unlikely that the demand for this particular stones will peak as no new material has been mined from this region in over 100 years. You best alternative is either a Burmese or Madagascan equivalent. 3. Emerald

Tanzania A new comer to this market, demand for Spinel stones has shown some of the strongest growth. The colours showing the best opportunities are red, orange and pink. As you’d expect, red Burmese spinals are again the strongest candidates for investment. Spinel is completely untreated and prices on fine pieces have risen significantly in the last 5 years.

Brazilian Emerald 5. Tsavorite Garnet This particular stone has had it’s share of setbacks. Recent turmoil as a

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Yellow Sapphire

East Africa Tsavorite Garnet is a stone native to the east coast of Africa. As demand for this particular stone has grown it has increasingly challenged the emerald for the title of best green gemstone. The stone is untreated and will often have more brilliance than an emerald as a result of better light refraction. If your looking for anything over the 4 carats you may struggle. A Tsavorite Garnet over this size is exceptionally rare, resulting in high entry levels and demand. So there we have it, the strongest contenders. If you choose to take the plunge remember to purchase the highest grade gems your budget will allow. Any form of commercial grade stones are in most cases worthless, suffering from poor colour, clarity and cutting. Fine gemstones are distinguished by vivid, intense coluor, outstanding clarity, and excellent cut. If you look for these characteristics your money will be well invested.

Source: AJS Gems

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IS YOUR PROPERTY BEING IS YOUR PROPERTY BEING

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info@intuslettings.com | www.intuslettings.com * When entering into a 12 month management agreement. Normally priced at £420 (inc VAT) lettings fee and 9% (inc VAT) pcm management fee. Does not apply for Let-Only service – enquire for offer.

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Q &

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

I work very long hours and have very little free time—what is the time commitment I have to put into a property I invest in?

To use an old idiom: how long is a piece of string? Yields depend on a number of factors, including the property itself, the location, as well as the rental demand and value in the area, amongst many others.

A. The good thing about property is that is a truly flexible asset—you can invest as much or as little time as you like. If you do not have a lot of time for the management and upkeep of your property, you can enlist these services to a selected lettings and management company who will deal with everything from finding and referencing tenants to the general day-to-day running of the development on your behalf. Generally, you can choose your own lettings and management company; but keep in mind that if you are investing particularly in a new-build apartment block, there may already be a designated management company in place that will block-manage the whole building on behalf of their investors. Always check the terms of your investment, but there will always be options available to you if you do not have the time to manage your investment property yourself.

Q. What kind of yields can I expect back on investments in this current market?

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However, the general rule of thumb is that if you choose a new-build development in an area of proven rental demand, like Manchester or Leeds, you stand a massive chance of gaining significant yields that either match or exceed the national average. Doing research into the location of your investment is key to ensuring high yields, as things like void periods can make a massive dent in your rental returns.

Q. If I have invested before and am looking to invest again in a similar investment with the same company, do I still have to pay stamp duty and all the other fees again?

A. Yes—each property investment is unique, so it is mandatory in the UK to pay stamp duty and associated fees on every single property you purchase. However, if you are a multiple investor with one particular property investment company, you may be able to negotiate with your property consultant on a deal that subsidises a small portion of admin fees, but of course this is not guaranteed, and is at the discretion of the company in question.

Is it better to choose a property investment that offers guaranteed NET yields?

Are property investments long-term opportunities? Can you still gain returns on investment even years after its completion?

On the surface, properties that offer guaranteed income set for a specific period of time may look like a great deal because you are assured a fixed percent each month no matter if your property is tenanted or not but in reality this may not be such a good thing for a property used as a vehicle for wealth accumulation.

Yes—another added benefit of property investment is that it is a long-term strategy that is able to continue providing you with steady income stream for the duration of its investment lifecycle. Rents can also increase over time, meaning that your capacity for income growth is high if you choose a popular property in an area of strong rental demand.

With guaranteed NET yields, the amount that you receive is fixed, meaning that your property cannot increase in value for the duration of the guaranteed period—so if your assurance period is five years, your rental income will still stay at the amount as it was at the beginning of your investment. Therefore, companies offering projected or predicted returns are generally better because, although not guaranteed, it means that your returns have the potential to increase.

In addition, the current landscape of rising property prices means that when you are ready to sell your investment, you also have the capacity to benefit from capital appreciation on your property, too.

ASK THE EXPERT

What can I expect to see at the Property Investor & Homebuyer show?

Yes - Financing, Insurance, Property Investment Mentoring and Training, Property Management and other services, including landlord services

A. The event is a one stop shop for investors – including investment opportunities (both UK and International), financing, insurance and other property services

Q. Is it possible to sell my own property at Property Investor & Homebuyer Show?

Are there many benefits to buying a property from a property event?

Yes – However only by taking a stand at the show or appointing an agent that will be at the show

A. The event enables the buyer to compare and contrast investment opportunities all under one roof, so helps decision making whilst saving time. At the more established events the client is also likely to have access to off market and below market deals as the companies taking part know they will meet the decision makers

Q. Are there other services besides property for sale at the event?

Q. Are there often projects only available to buyers at these events?

A. Yes this is not uncommon. The larger, more established events will attract companies that will promote limited and exclusive deals at the events (off market and below market deals)

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

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SHOULD I MOVE TO MUNICH? Words : Christine Schulz | View : Vlada Z

Munich as a city is truly unique – exceptional really. Here, striking historic constructions meet tastefully designed modernity.

If you’re a die-hard football fan, rest assured, you are in great company. Football is part of the Bavarian spirit and soul. Watching a Bundesliga game (the German version of the Premier League) or Champions League Situated in the heart of Bavaria, a former kingdom in the south of Germany, match is a must in this football loving city. People here generally do so on Munich’s location is outstanding. I’ve spent most of my life living in or their team’s home ground at the Allianz Arena, which holds over 75,000 around Minga (the city’s affectionate nickname given by its locals) and fans and proudly illuminates in its team colours at night, or in a pub have to say that I loved every moment of it. The atmosphere in this thriving somewhere in the city centre. city is incomparable – as every day spent there presents itself as a new adventure. The atmosphere is electric during matches, particularly during the likes of the World Cup and European Cup – with its all-time peak being last year So what is it really like to live in Bavaria’s beloved capital? when the national team brought the World Cup trophy back home. Whilst watching the match, you may find the locals enjoying a beer. The truth is, Germans tend to be known for a number of things: football, Bavarian beer is somewhat of a dearly-held tradition, as it is an important beer, sausages, sauerkraut and BMW. Funnily enough, all of the above can part of the local culture. The most famous perhaps is Erdinger Weißbier, preliminary be found in Munich – home to world famous football club a beautifully crafted wheat beer that’s brewed locally and exported all Bayern Munich, an extensive range of premium beer brands such as around the globe. However, Bavaria has something on offer to meet the Erdinger Weißbier and Augustiner Helles, traditional Christkindl markets needs of even the most experienced beer connoisseurs. (Christmas markets) where you can find the likes of Bratwurst, and the headquarters of BMW. If that’s not enough, the city also hosts an array of Bayerische Kultur – Bavarian Culture historical landmarks such as the Old Town Hall, Frauenkirche, Nymphenburg Palace and the popular Englischer Garten. One of my favourite things about Munich is the sheer fact that whatever your budget, interests or preferences, this vibrant city will have something Fußball und Bier – Football and Beer on offer for you – and that’s a fact. You could spend hours exploring the

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Antiquarium, Munich

city by taking a long stroll around its many landmarks and parks. The Englischer Garten alone has an endless amount of activities on offer such as having a picnic in the park, a cycle, a meal, visiting the beer garden and even surfing. If you’re into cars for example, you’re in luck with BMW’s headquarters and museum being only a few minutes’ drive away from Munich’s bustling city centre. In general Munich is filled with cultural must-sees: museums such as the renowned German Museum, the Alte Pinakothek (one of the oldest art galleries in the world), the Pinakothek der Moderne (a modern art alternative), followed by world-class theatres such as the Deutsches Theater, Bavarian State Theatre, Cuvilliés-Theatre and many more. Festivals are also an integral part of Munich’s cultural scene, the most famous of course being Oktoberfest – the world’s largest Volksfest (funfair/ public festival). It is held every year for 16 days at the end of September until the beginning of October, and can be described as an enormous beer festival and travelling funfair. It is at this time when the city is flooded with locals and internationals dressed in Dirndls and Lederhosen (the traditional

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Bavarian clothing), whilst drinking a Mass (a litre of locally brewed beer). Oktoberfest is in fact one of Munich’s main attractions, luring people from all over the world to the city over those two weeks. But Oktoberfest isn’t the only festival in Bavaria’s capital city: there are plenty of others, such as Tollwood – a cultural festival full of musical and cabaret performances, culinary food tents, circus shows, and stalls selling things from all over the world. It is held every year as a summer celebration in June to July as well as a form of Christmas market from November to December. But moving to another city doesn’t only depend on the activities you can do there, how many landmarks it has, or how full its annual event calendar is. It depends particularly on the type of people you will be surrounding yourself with - Munich’s inhabitants are the kind of people you would want to spend your time with: good natured and fun with a big heart. Communicating in Munich is easy, as most Germans typically speak at least basic English, as it is part of their obligatory subjects throughout

Marienplatz, Munich

school. However I will point out, that if you are one of the rare people that actually are able to speak the German language, you will find that Bavaria as a county has in fact its own little version of it. It might take you some time to pick up the accent and a few slang words as well as expressions, but you’re sure to find a lovely Bavarian local that will love to help you out with the language barrier, show you around and make sure you will fall in love with the place. In my humble opinion, moving to Munich is probably one of the best decisions you will ever make. The city is full of life, laughter, football and beer. On top of it all, its central location in the heart of Europe allows you to drive to other cities and countries in a heartbeat - for a short weekend trip or a long holiday. So the question really shouldn’t be ‘Should I move to Munich?’ but rather ‘Why wouldn’t you want to live in Minga – one of the best cities in the world?’

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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. Over the next 32 pages you will see a selection of the investment opportunities available through Knight Knox.

+44(0)161 772 1370 www.knightknox.com Market Leaders In Worldwide Property Investment

X1 AIRE Leeds PRICES FROM :

ÂŁ105,000 > 6% NET rental returns 1 and 2-bedroom apartments Lettings and management company in place Private communal facilities State-of-the-art apartments Prime location in the heart of Leeds

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X1 Aire is Knight Knoxâ&#x20AC;&#x2122;s newest development in the heart of the thriving city of Leeds. This development is set to provide state-of-the-art living for a vastly undersupplied Leeds rental market, providing a stunning array of apartments ranging from bespoke studios to stunning penthouses. X1 Aire is set to take boutique city centre living to the next level, providing state-of-the-art apartments to the private rental market.

BRIDGEWATER POINT Salford PRICES FROM :

£114,995 > 6% NET rental returns Lettings and management company in place Close to Manchester and Salford city centres On-site gym and communal gardens Built by an experienced developer High demand in local area

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Bridgewater Point is the newest addition to Salford’s booming rental market. This development is set to introduce bespoke luxury living for the vastly in-demand residential market in the city, providing a beautiful mix of one, two, and three-bedroom apartments that are furnished to the highest of standards. Bridgewater Point perfectly encapsulates boutique city living, providing its tenants with top-of-the-range amenities including a private residents’ gym on-site, as well as a beautifully-landscaped communal garden area, and secure parking and bicycle storage.

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.

ADELPHI WHARF PHASE 2 Salford PRICES FROM :

ÂŁ109,995 > 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 96

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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. It is a ÂŁ75million development comprising a total of 580 designer apartments. 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 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 Liverpool

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This luxurious development offers students high-spec facilities that include a gymnasium, cinema room, and communal areas in which to relax after a hard day studying. Normally, such an enviable location comes at the cost of space, but these amenities offered prove X1 Liverpool One is fully dedicated to creating the epitome in luxury student accommodation.

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.

X1 LIVERPOOL ONE, PHASE TWO Liverpool PRICES FROM :

ÂŁ69,950 > 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 in Liverpool

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Built by X1 Developments, (the developer behind the successful Liverpool student accommodation projects X1 Borden Court and X1 Arndale House), the facilities in X1 Liverpool One are second-to-none. This luxurious accommodation offers students a highspec gymnasium, cinema room, and communal areas in which to relax after a hard day studying. Normally, such an enviable location comes at the cost of space, but these amenities offered prove X1 Liverpool One is fully dedicated to creating the epitome in luxury student accommodation.

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.

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 106

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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.

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 the vibrant bars and restaurants of the city.

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 110

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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.

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 :

£279,000 > 8.62% NET rental returns Designed by award-winning architects Unique townhomes 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 for to the modern student. As well as fully fitted designer bathrooms, Bento’s interior is beautifully decorated in minimalist white and grey to enhance the already Zen ambience, which is further recognised in the installation of three beautiful private gardens, located on each of the development’s three floors. Furthermore, the development is eco-friendly, meaning that Bento is a perfect amalgamation of high-tech yet sustainable living.

NOW SOLD OUT

X1 MEDIA CITY TOWER 1 Salford PRICES FROM :

ÂŁ94,950 > 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 Manchester and MediaCityUK, the apartments are available fully furnished with a high-end, elegant flair.

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

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 Courtâ&#x20AC;&#x2122;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.

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Bridgewater Gate Manchester PRICES FROM :

TBC > COMING SOON 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 118

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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.

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

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