Luxury Real Estate

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New OZ laws to protect foreign workers

January 7, 2009 · Leave a Comment

Keen to strengthen the integrity of temporary overseas work visa arrangements in Australia, the country’s Parliament has passed new laws, one of which allows temporary migrants to stay in Australia for up to four years…

Following extensive consultation with industry and unions, the Australian Parliament has finally passed the Migration Legislation Amendment (Workers Protection) Bill 2008, which is designed to give better protection to temporary overseas workers.

Thousands flock to Australia each year through the subclass 457 Australian visa program, to undertake fruit picking and other temporary work and this new bill aims to better protect their rights.

The 457 visa is an uncapped scheme driven by the demands of the labour market and enables employers to sponsor overseas workers needed to fill certain skilled positions and allows migrants to remain in Australia for up to four years.

Australia’s Minister for Immigration and Citizenship, Senator Chris Evans, has welcomed the introduction of new laws.

“Over the last five years Australian employers have increasingly turned to the temporary skilled migration program to bring in the skilled workers they need,” Senator Evans said.

“The resources boom, low levels of unemployment, and the failure of the previous government to invest in the education and training of our own people, have contributed to endemic skills shortages across the country.

“The temporary working visa scheme is only sustainable if the community is confident that overseas workers are not being exploited or used to undermine local wages and conditions,” he added.

The amendments proposed in the Bill outline four main measures to protect overseas workers from exploitation.

These measures provide for expanded powers to monitor and investigate possible non-compliance by sponsors; the introduction of penalties for employers found in breach of their obligations; improved information sharing across all levels of Government and defined sponsorship obligations for employers and other sponsors.

Almost 60 000 primary visas were granted to overseas workers in 2007-08 and while the vast majority of employers did the right thing, there have been concerns about the incidence of employer breaches in the programme.

The recent Deegan report highlighted various employer abuses amongst the sponsors of some 60,000 immigrants issued with visas in 2007-2008.

Indeed, during the period, 192 employers were formally sanctioned with a further 1353 receiving formal warnings. The number of sanctions issued was double that in the preceding 12 months. In 2006-07 just 313 formal warnings were issued.

Under the new laws, specially trained officers will be empowered to monitor workplaces and conduct site visits to ensure that employers are complying with the redefined sponsorship obligations. The powers will be similar to the powers of workplace inspectors under the Workplace Relations Act 1996.

Fines of up to £14,000 are proposed for employers found in breach of the obligations in the Migration Regulations. The department will retain the ability to cancel an employer’s approval as a sponsor or bar them from making applications for approval as a sponsor for a period of time.

The new laws will also enable the Commissioner of Taxation to disclose tax information to the Department of Immigration and Citizenship in order to ensure correct salary levels are being paid to visa holders.

In September of this year, the minimum salary levels for temporary skilled overseas workers were increased by 3.8 per cent after they had been frozen for more than two years.

For more information on Australian properties and the market in general, please visit http://australia.themovechannel.com/

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FIABCI Announces Agreement with LUXURY FILM

December 18, 2008 · Leave a Comment

The International Real Estate Federation, FIABCI, is announcing a relationship with LUXURY FILM, a premier video production, consulting and animation company which services the luxury real estate market on a global basis. The company is comprised of an exclusive network of experts and international professionals who provide a full spectrum of creative services for video production. “The selection of LUXURY FILM as ‘Preferred Video Supplier’ will strengthen FIABCI as the world’s leader within the real estate market by providing and enhancing communication tools for our global members,” explained Luis Correa-Bahamon, FIABCI World President. “This relationship is just one example of how we are continually striving to support our global membership so they can actively, or should I say virtually, participate in state-of-the-art technology and communication vehicles,” he continued.

Luxury Film, headquartered in Highlands Ranch, Colorado, USA, filmed FIABCI’s 2008 World Conference in Amsterdam and is providing the footage to all FIABCI members by creating an FIABCI World Congress Amsterdam Video Channel. This streamed conference is available for individual members’ websites, as well as all Regional and Chapter websites, who can embed the video for free by going to http://www.luxuryfilm.com/fiabci-2008-world-congress/embed

In addition, LUXURY FILM is working in partnership with FIABCI to offer members an economic yet sophisticated member centric FIABCI Video Network which includes custom branded players, hosting and streaming as well as a state-of-the-art technical team for member support. “It is a great opportunity to work with the world’s most prestigious Real Estate Federation,” said Shaun Stanley, LUXURY FILM Director of Video Solutions. “Our introduction to the high-quality standards of FIABCI was captured in the 2008 FIABCI World Congress in Amsterdam. We are committed to that standard of excellence and look forward to continually providing the same service to FIABCI members on a global basis,” he continued.

The International Real Estate Federation, FIABCI, is an organization of real estate professionals in 65 countries which represents more than 100 national real estate associations, over 2 million professionals, and serves as special consultant with NGO status to the Economic and Social Council of the United Nations Organization (ECOSOC). FIABCI helps members acquire knowledge, develop networks and optimize business opportunities throughout the world. For information, go to www.FIABCI.org or contact Alyssa Nightingale (631) 367-8599.

You are free to reproduce this press release on your own website, but if doing so, please leave all live links intact. Thank you.

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Luxury Real Estate – Part 3 – The Sinkers

November 30, 2007 · Leave a Comment

phoenix.jpg

Gigayacht not your style for luxury real estate? Try the latest craze – Submarines. Two of the most luxious real estate sinkers are The Seattle and the Phoenix 1000 . Here’s a brief rundown.

The Seattle is 118 feet of climate-controlled luxury and, for the price of $20 million, the buyer can even select the interior colors and help design the layout of staterooms and dining areas. Apparently, the manufacturer suggests using the sub as an aquatic version of a train, ferrying passengers across the Atlantic – with a nightly price tag of $2,500 per person.

The Phoenix 1000 has not been built yet. Builders are still waiting for someone with $78 million to come along and make it the largest, most luxurious sub ever completed. Designed to be 213 feet long, with over 5,000 square feet of interior space, you’ll have enough space for your own personal navy. The sub is also equipped with a mini sub. That’s right, two pieces of luxury real estate for the price of one. A slammin’ deal you’ll be hard-pressed to find on the mainland.

Sources: Luxist, US Submarines

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Luxury Real Estate? – Part 2 – The Floaters

November 2, 2007 · Leave a Comment

55mwp06.jpgMega. Super. Giga. Trump. The portfolio of adjectives to describe yachts just keeps growing. Millionaires and billionaires are lining up at marinas like children at a little league concession stand for a chance to own the next piece of luxury real estate. Yes, you heard me. Yachts are now considered luxury real estate.

According to people in the boating industry, people buying floating real estate are more insulated from a troubled housing market and other downturns in the economy. Now that’s what I call a marketing willy. I believe their analysis forgot to factor in the price of gasoline or the repair costs when grandma crashes the boat through the pier. Anyways, w hy have a condo, when all you need is a boat? Sounds pretty obvious. Just ask this guy…

Picture: Sybarites

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Luxury Real Estate? – Part 1 -Till Death Do Us Part

November 1, 2007 · Leave a Comment

Consider the average long term investment. One year right? How about longer, like say… Forever. Here’s where luxury real estate meets its maker.

1. Forest Lawn Memorial Park, Hollywood Hills, CA. Established 1906. Best resting place: $825,000. The average plot: $8,275- 19,175.

2. Santa Barbara Cemetery, California. Established 1867. Prime local: $83,000. Everything else: $3,300.

3. Graceland, Chicago, IL. Est. 1861. The best: $120,000. Average plot : $2,600- 4,000.

4. Woodlawn Cemetery, The Bronx, NY Established 1863. If you are thinking a moseluem then you better be ready to fork out $1.5 million. Average plot $4800.

5. Kensico Cemetery, Valhalla, NY. Established 1899. $500,000.

Sources: Forbes, Sellsius Real Estate

Picture: Findagrave

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Real Estate Opportunites in Thailand

October 29, 2007 · Leave a Comment

thailand-44.jpgForget Bangkok. It’s a beehive of activity. If you interested in exploring Thai real estate the rest of country is where you’ll find the honey. You just have to be a cunning bear and know where to get your paws into the action. Here’s where The Ise is looking.

Phuket – It’s the Monte Carlo of South East Asia. If you aren’t looking for an investment a vacation is still a must.

Koh Samui – Once only a backpacker getaway, Koh Samui is Thailand’s latest market for million dollar villas. Daily Bangkok fights allow property owners more convenient travel options than with Phucket.

Koh Hang – Nearly 85% of the island is engulfed in the My Koh Chang National Marine Park. With such protection over-development is impossible. Quality before quantity, it’s a surefire luxury theme of success.

Krabi - Krabi has some of the best infrastructure in Thailand. Green architecture is starting to blossom here as well. Krabi is one Thai flower worth investigating.

Pattaya - Other than Bangkok, Pattaya has received more investment than any area of Thailand during the last ten years. Many expats choose to make Pattaya a permanent home. The miles of beautiful beaches and convenient location set Pattaya apart.

Chang Rai – It’s not all about the real estate here. Check out the Pagodas and Pineapples. They’ll wet your taste buds and spiritual appetite, leaving you completely mesmerized.

Hot Ise Investing Tips. (Due Diligence Needed)

Planning a vacation/property hunt in Thailand? Be sure to research the political and religious unrest in the southern portion of the country. Also, be informed about the social plight of its westerly neighbor, Burma. When monks are marching in protest, there is evil in the nest. Knowledge is power…

Sources: OverseasPropertyMall, BangkokPost

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