Overreaction and the Creation of Opportunity

 

The general Melbourne property market is being adversely affected by the repercussions stemming from the Banking Royal Commission and a tightening of APRA (the banking governing body) provisions with respect to lending practices.

In our view, the regulators have overshot the mark with the effect on buyer activity plain to see every Saturday at auctions around the city, with property failing to sell or even attract bidders in some instances.

The Credit Squeeze

In essence, we are in the middle of a credit squeeze. Pure and simple. It is not a matter of purchaser’s intent being affected. It is their capacity to actually borrow (a sufficient amount of) money that is the issue.

This is, of course, very much a double-edged sword which, depending on your circumstances, will be either good or bad news. For instance, if you have finance approved or better still, don’t need any finance, you will be in a very strong bargaining position.

The Opportunity for Expats

Many of our Expat clients are seeing this as an opportunity to get into a softening market for the first time in about 6 years.  Our advice to them and all of our other clients is simple.

“Hasten slowly”. What does that mean? There is no need to buy a property “tomorrow” as the current financial environment is likely to prevail (at least) during 2019.  Having said that, there is nothing wrong with buying the right property if it presents itself.  Trying to pick the bottom of the market is a high-risk strategy as the Melbourne market is notoriously resilient. Particularly with circa 120,000 people moving to our city every year.

You don’t want to wake up one morning and the market has turned. And it will happen, it’s just a matter of when.

So no hurry (yet), take it slowly, find the right house (ie. let us find the right house for you!), do all the appropriate due diligence and buy it for the right price.

In our view, you have 12 months to do so. After that, I make no promises!!

McRae Property Joins Expatland’s Melbourne E-Team

 

Leading buyer advocacy firm McRae Property has joined The Expatland Global Network. The firm will provide property advice to the Melbourne E-Team’s clients.

McRae Property has acquired both residential and commercial properties for a wide range of investors and owner-occupiers, based both locally and overseas and across all price ranges.

The firm understands that buying the right property at the right price is what this whole process is about. McRae believes honesty, trust, good communication, and a common thought process are essential for a beneficial outcome.

The Expatland Global Network is made up of Expatland Teams (‘E -Teams). Operating at a city level, they have essential local knowledge and insight. They cut through complexity and drill down to the issues that are relevant to specific locations.

John Marcarian, founder of the Expatland Global Network, says, “We are pleased to have McRae Property join us and believe they will be a key member of our Melbourne E-Team.”

John Sommers, Director & Certified Practising Valuer, McRae Property, comments, “We can see the potential and strengths of the Expatland Global Network, which will enable us to expand our business in the right way.  Our extensive knowledge in the property industry spans from 1965 and believe we can add real value to expats coming to Melbourne.”

 ‘Expatland’ origins

Expatland began as a book, written in 2015 by John Marcarian, as a result of John’s personal expat journey. Its focus was to help expats plan their move overseas.

E-Teams around the globe

The Expatland book was just the start. To solve the problem of lack of support for would-be expats, John has launched the Expatland Global Network in 2018.

The Network is expanding rapidly. There are now E-Teams in Sydney, Melbourne, Auckland, Prague, Budapest, Hong Kong, London and Singapore. With best-in-practice members recognising the importance of this service, many more will follow.

Businesses interested in joining an E-Team in their city can get in touch with Expatland: http://www.expatland.com/contact/

Bank of New Zealand Joins Expatland’s Auckland E-Team

 

Bank of New Zealand (BNZ) has joined The Expatland Global Network. The firm will provide migrant banking advice to the Auckland E-Team’s clients.

BNZ is one of New Zealand’s leading full-service banks and has been helping people to start a new life in New Zealand since 1861. It offers retail, business and institutional banking.

The Expatland Global Network is made up of Expatland Teams (‘E -Teams).

Operating at city level, they have essential local knowledge and insight. They cut through complexity and drill down to the issues that are relevant to specific locations.

John Marcarian, founder of the Expatland Global Network, says, “Adding a world-renowned brand such as BNZ to the Expatland Global Network shows how far we have come since our launch less than a year ago. We are committed to providing expats with a trusted network of service providers in their new city and BNZ is the perfect banking provider for any expat making the move to Auckland.”

Evan Veza, Head of International Business Development, BNZ Partners comments, “BNZ has joined the Expatland Global Network to support the development of expats as they integrate into life in New Zealand. We’ve helped generations of migrants start a new life in New Zealand and we’re pleased to be joining forces with the team at Expatland who use their global knowledge, skills, expertise and networks to help expats successfully integrate into New Zealand.”

 ‘Expatland’ origins

Expatland began as a book, written in 2015 by John Marcarian, as a result of John’s personal expat journey. Its focus was to help expats plan their move overseas.

E-Teams around the globe

The Expatland book was just the start. To solve the problem of lack of support for would-be expats, John has launched the Expatland Global Network in 2018.

The Network is expanding rapidly. There are now E-Teams in Sydney, Melbourne, Auckland, Prague, Budapest, Hong Kong, London and Singapore.

With best-in-practice members recognising the importance of this service, many more will follow.

Businesses interested in joining an E-Team in their city can get in touch with Expatland: http://www.expatland.com/contact/

Immigration System in Australia

 

Immigration into Australia is mainly based on a system that aims to reinforce the national economy, through the acquisition of new labour skills, the promotion of foreign investments, as well as family reunions.

The Australian migration system is very complex, with the Department of Home Affairs (DHA) representing the Government entity which selects the migrants.

There are currently 99 visas available, some of them temporary, some permanent, but each of them with different and very specific requirements.

The temporary and permanent migration programs allow people to enter Australia for a variety of reasons – such as tourism, study, short or long-term employment, business, and investment or to re-join and live with a family member.

Everyone is required to have a visa to enter Australia and this must be applied for prior to arrival. Most of the airline companies will not carry you if you do not have a visa.

Our guide, written by Emanuela Canini of Migration World will provide you with vital information required to navigate through the complex issues regarding the immigration process in Australia.

To Download our guide, click here.

Australian Cricket Legend Greg Chappell MBE Appointed as Chairman, Expatland Global Network

 

The Expatland Global Network has appointed Greg Chappell MBE as its Chairman.

He will work closely with founder John Marcarian to build E-Teams around the world and foster teamwork and cooperation across the emerging global network.

Greg is a former Australian cricket captain who represented Australia at international level.

Widely regarded as the pre-eminent Australian batsman of his time Greg allied elegant stroke making to fierce concentration.

Greg is an Australian sporting icon.

Since his retirement as a player in 1984, Chappell has pursued various business and media interests as well as maintaining connections to professional cricket.

He has been a selector for national and Queensland teams, a member of the Australian Cricket Board, and a coach.

The Expatland Global Network is made up of Expatland Teams (‘E -Teams).

Operating at a city level, they have essential local knowledge and insight. They cut through complexity and drill down to the issues that are relevant to specific locations.

John Marcarian, the founder of the Expatland Global Network, says, “Greg’s exceptional experience in the elite sport, as a cricket test captain, national selector and coach will be hugely beneficial to our global organisation. The Expatland Global Network relies on strong teamwork, and we couldn’t have hoped for a better leader of people, with an unrivalled track record of success.”

Greg Chappell as Chairman, Expatland Global Network comments: “I have traveled extensively and lived overseas for a number of years, so I appreciate the needs and challenges facing expats on the move. I believe that the Expatland Global Network addresses these issues better than any organisation that I have encountered. Therefore, the chance to join the team as Chairman is one I relish and I look forward to helping the global network to grow.”

 ‘Expatland’ origins

Expatland began as a book, written in 2015 by John Marcarian, as a result of John’s personal expat journey. Its focus was to help expats plan their move overseas.

E-Teams around the globe

The Expatland book was just the start.

To solve the problem of lack of support for would-be expats, John has launched the Expatland Global Network in 2018.

The Network is expanding rapidly. There are now E-Teams in Sydney, Melbourne, Auckland, Prague, Budapest, Hong Kong, London and Singapore.

With best-in-practice members recognising the importance of this service, many more will follow.

Businesses interested in joining an E-Team in their city can get in touch with Expatland: http://www.expatland.com/contact/

Superannuation and Wealth

 

One of the great challenges upon arrival in Expatland is often how to manage your money.

There is no easy answer and it depends upon the complexity of your affairs. Similar to your home country jurisdiction, financial planning requires a number of steps.

Strategy One’s guide to Financial Planning assists expats with choosing the right planner, creating a financial plan and important questions to ask your advisor.

To download this guide click here:

Obtaining a Mortgage in Sydney

 

There are many lenders including banks, credit unions and non-bank lenders operating in the Australian property market and offering finance to purchase Australian property.

Of these lenders, they will have many different loan products with their own features and benefits, some of which are more appropriate to different objectives. Navigating the finance and product options is time consuming trying to work out what is best for you.

Alycia and the team at Stoneturn Mortgages have written a guide to assist with the complexities of choosing the best option including:

  • Understanding the Finance Process
  • Pre-qualification and Credit Advice
  • Pre-Approval
  • Valuations
  • Post Settlement

To read this guide click here:

KCG Partners joins Expatland’s Budapest E-Team

 

Leading Hungarian law firm KCG Partners has joined The Expatland Global Network. The firm will provide legal assistance to the Budapest E-Team’s clients.

KCG Partners provides a comprehensive range of legal services to international and local clients seeking local knowledge with a global perspective. The firm has a wealth of regional knowledge in corporate law, M&A, projects and energy, real estate, tax, employment, litigation, privacy and forensics, securitization, estate planning and capital markets.

The Expatland Global Network is made up of Expatland Teams (‘E -Teams). Operating at a city level, they have essential local knowledge and insight. They cut through complexity and drill down to the issues that are relevant to specific locations.

John Marcarian, founder of the Expatland Global Network, says, “KCG Partners are truly global and understand the issues expats face in their business and personal lives when moving to another country. The range of services available to our expat clients is extensive and we’re confident KCG can assist in any legal matter.”

Gabriella Gálik, Partner, KCG Partners, comments, “The Expatland Global Network offers the perfect balance of ideal partners and potential clients, two elements that we’re eager to expand on.

Our global knowledge means we all have international educational and professional backgrounds and we look forward to helping expats coming to Budapest.”

‘Expatland’ origins

Expatland began as a book, written in 2015 by John Marcarian, as a result of John’s personal expat journey. Its focus was to help expats plan their move overseas.

E-Teams around the globe

The Expatland book was just the start. To solve the problem of lack of support for would-be expats, John has launched the Expatland Global Network in 2018.

The Network is expanding rapidly. There are now E-Teams in Sydney, Melbourne, Auckland, Prague, Budapest, Hong Kong, London and Singapore. With best-in-practice members recognising the importance of this service, many more will follow.

Businesses interested in joining an E-Team in their city can get in touch with Expatland: http://www.expatland.com/contact/

Expatland Launches Prague E-Team with EIBD as Group Leader

Leading Czech accountants EIBD have joined Expatland’s Global Network.

The firm will provide accounting services as well as business and personal tax advice to the Prague E-Team’s clients.

EIBD accounting and finance specialises in working with international corporations, helping clients face challenges by offering comprehensive advice on how to use opportunities and minimise risks. EIBD currently serves over 250 clients.

The Expatland Global Network is made up of Expatland Teams (‘E -Teams). Operating at a city level, they have essential local knowledge and insight. They cut through complexity and drill down to the issues that are relevant to specific locations.

John Marcarian, founder of the Expatland Global Network, says, “We are delighted that Luděk and his team have joined the Expatland Global Network and will lead the newly formed Prague E-Team in the Czech Republic. It’s an exciting time for Expatland as we expand our network worldwide.”

Luděk Barták, Managing Partner, EIBD, comments, “The Expatland Global Network is a growing force in international business. When we met John Marcarian and understood his vision for the future of the organisation, and the mission to assist expats on the move across the world, it linked very well to our work with international corporations. We’re proud to be leading the Prague E-Team here in the Czech Republic.”

‘Expatland’ origins

Expatland began as a book, written in 2015 by John Marcarian, as a result of John’s personal expat journey. Its focus was to help expats plan their move overseas.

E-Teams around the globe

The Expatland book was just the start. To solve the problem of lack of support for would-be expats, John has launched the Expatland Global Network in 2018.

The Network is expanding rapidly. There are now E-Teams in Sydney, Melbourne, Auckland, Prague, Budapest, Hong Kong, London and Singapore. With best-in-practice members recognising the importance of this service, many more will follow.

Businesses interested in joining an E-Team in their city can get in touch with Expatland: http://www.expatland.com/contact/

Expatland Set to Become the 3rd Most Populous Country

 

Have you ever considered moving permanently to a new country? If the answer is yes, you’re far from alone. A new poll reveals that 15% of the global population – over 750 million people – would migrate if they could.

While conflict, famine and natural disasters have driven many people from their homelands, there are also many other reasons for seeking a new life elsewhere, including economic opportunity.

A recent Gallup World Poll survey reveals that the desire to migrate has increased in developed regions like North America and non-EU member states in Europe.

Who’s on the move?

In North America, the number of people favouring a move has risen dramatically in the last few years from 10 to 14% since the 2013-2016 period. Despite a strengthening jobs market, 16% of those surveyed in the US in 2017 told Gallup they wanted to live abroad, the highest increase recorded by the poll.

In the European Union – where citizens have the right to freedom of movement – the desire to migrate has remained unchanged since 2012 at 21%, while attitudes to moving in non-EU European states have stabilized recently following a rise at the start of the decade.

 

People in refugee hotspots continue to hope for a better future in another country. The poll shows the number wanting to move rising in Latin America and the Caribbean, the Middle East and North Africa, and sub-Saharan Africa, where ongoing armed conflicts, for example in Sudan, Syria and Yemen, are fueling the desire to migrate.

In poor countries from Haiti to Albania well over half of the citizens expressed a wish to move. The poll showed that 71% of the Sierra Leone population wanted to leave.

Where do migrants want to live?

The US remains the leading choice for would-be migrants and this has been the case since Gallup’s polls began over a decade ago. Despite the Trump administration toughening immigration rules, one in five migrants chose the US as their favoured destination in 2017.

 

 

Across the border, Canada is in second place – the top choice of 47 million potential migrants. Germany, in third, was the preferred destination for 42 million. Interest in the UK has dropped in recent years, with uncertainty related to the 2016 Brexit vote a potential factor.

According to UN figures, high-income countries attract the majority of international migrants, a trend accounting for 64% of the global total in 2017. Almost two-thirds (60%) of all international migrants opt for Europe and Asia.

Although the refugee crisis continues to dominate headlines, refugees and asylum seekers account for only 10% of global migrants. An estimated 84% of these people find refuge in low or middle-income countries.

Of course, not all those expressing a desire to move will actually become a migration statistic. And while migration adds to a population’s diversity and makes an important contribution to economic growth, not all host countries welcome new arrivals with open arms.

 

Source: World Economic Forum

Written by: Johnny Wood, Writer, Formative Content