CIPS ASIA/PACIFIC AND INTERNATIONAL REAL ESTATE COURSE DESCRIPTION AND TOPIC OUTLINE

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1 CIPS ASIA/PACIFIC AND INTERNATIONAL REAL ESTATE COURSE DESCRIPTION AND TOPIC OUTLINE Course Description In this world of globalized business, we are in contact with people from Australia, China, Indonesia, Japan, Taiwan, Korea, and the Philippines. Their economies count on countries of the Americas and the Pacific Rim to provide access for their goods to our markets. We count on them supplying us with quality merchandise at reasonable prices and providing new markets for the products of the Americas. One such product is real estate. This course provides information, insights, and skills for working with Asian investors seeking overseas properties and for investors from the Americas seeking investments in Asia. This course is designed to benefit experienced international professionals, individuals with real estate experience who are considering international specialization, and NAR general membership. The goals of the Asia/Pacific and International Real Estate course are to provide: Knowledge of the Asia/Pacific real estate marketplace Methods for researching, analyzing, and applying market information Skills for facilitating real estate transactions in Asia/Pacific markets Recommendations for building key contacts in real estate organizations, commerce, and government Course Structure Introduction 1. Market Trends 2. Cultural Influences 3. Building Your Asia/Pacific Real Estate Business Network 4. A Look at the People s Republic of China 5. A Look at Japan 6. A Look at India 7. A Look at the United Arab Emirates 8. Country Profiles Learning Objectives Identify the social, political, and geographical characteristics of Asia/Pacific countries. Develop market intelligence by researching factors that shape Asia/Pacific real estate markets and assessing business opportunities. Adapt business and social behavior to conform to customs and cultural norms. Develop strategies for making productive network contacts and marketing your real estate services to clients and customers from Asia/Pacific countries NATIONAL ASSOCIATION OF REALTORS 1

2 Introduction A. Course Learning Goal B. Learning Objectives C. Course Structure 1. Exam 2. Activities and Class Procedures D. Countries Included in Study E. CIPS Designation F. Getting Acquainted: Map Quiz G. Pre Quiz: Test Your Asia/Pacific IQ I. Market Trends A. Asia/Pacific Vast Distances, Diverse Cultures B. The Pacific Rim Ring of Fire C. Trends 1. Trend 1: Middle-Class Expansion 2. Trend 2: Emerging Economies, Developing Real Estate Markets 3. Trend 3: Mega Cities, Small Living Spaces 4. Trend 4: More Very Wealthy Individuals 5. Trend 5: Sending Children Abroad for Education 6. Trend 6: Trade Agreements Around the Pacific Rim 7. Trend 7: The World s Workshop and Back Office 8. Trend 8: Subsiding Inflation 9. Trend 9: Demand for Class-A Office and Retail Space 10. Trend 10: Non Reserve Currencies 11. Trend 11: Very Young to Very Old 12. Trend 12: Social Safety Net Development 13. Trend 13: Environmental Awareness 14. Trend 14: Internet and Mobile Connected 15. Trend 15: Civil Unrest and Terrorism 16. Trend 16: Competitive Destination 17. Trend 17: Increased Air Travel II. Cultural Influences A. High-Context/Low-Context Cultures 2018 NATIONAL ASSOCIATION OF REALTORS 2

3 B. Social Values 1. Personal Savings Rate 2. Individual vs. Group 3. Relationships 4. Family Loyalty 5. Saving Face C. Tips from the Field: Adapt Your Behavior, Respect the Culture D. Religions and Beliefs 1. Numerology 2. Fêng Shui 3. Confucianism 4. Taoism 5. Islam 6. Shinto 7. Buddhism 8. Hinduism 9. Sikhism III. Building Your Asia/Pacific Real Estate Business Network A. An International Business Network 1. Look at Local Market Trends 2. Consider Your Own Interests 3. Who You Need to Meet B. 22 Ideas for Building Your Asia/Pacific Network C. Asia/Pacific Real Estate Expositions and Events 1. Effective Expo Attendance 2. Internet Field Trip: Real Estate Expos D. NAR s Cooperating Associations 1. Internet Field Trip E. Keeping Up-To-Date F. 6-Minute Brainstorming Challenge IV. A Look at the People s Republic of China A. Geography 1. Special Economic Zones (SEZs) and Free Trade Zones 2. Taiwan 2018 NATIONAL ASSOCIATION OF REALTORS 3

4 B. China s Work Force and GDP C. China s 13th Five-Year Plan 1. Greening of China 2. New Strategic Emerging Industries (SEIs) D. China s Boom Towns E. Foreign Direct Investment 1. China s Sovereign Wealth Funds 2. 7 Disciplines for Investing in China 3. Information for Investors F. The Rising Renminbi Currency Trends 1. Will the Renminbi Replace the U.S. Dollar? 2. Why Does This Matter? 3. Renminbi-Denominated Dim Sum Bonds G. Real Estate in China A Cooling Market 1. Financing 2. Land Rights 3. Rental Property H. Can Foreigners Own Real Estate in China? 1. Foreign Invested Enterprises I. Real Estate Professionals in China J. The Big Story Chinese Buyers Abroad 1. Investment Visa Programs 2. Reciprocal China-U.S. Visa Policy 3. Investment Restrictions and Workarounds 4. China s Millionaires 5. What Does This Mean for the Real Estate Professional? K. China s Top Real Estate Trends 1. Internet Fieldtrip L. Doing Business in China Beyond the Basics 1. Names 2. Connections Guanxi 3. Women in Business 4. Business Cards 5. Meetings 6. Negotiations and Contracts 7. Interpreters 2018 NATIONAL ASSOCIATION OF REALTORS 4

5 8. Demeanor 9. Business Dining 10. A Few Taboos 11. Holidays in China V. A Look at Japan A. Geography B. Economy and Business Resources and Trade (CPTPP) 1. Japan s National Debt C Tohoku Earthquake and Tsunami D. Land Lease E. Can Foreigners Own Real Estate? 1. Secondhand Housing F. Homeownership Trends G. Rental Property H. Real Estate Professionals in Japan I. Japan s Top Real Estate Trends J. Practitioner Perspective: Japanese Investors 1. Internet Fieldtrip K. Doing Business in Japan Beyond the Basics 1. Names 2. Initial Contact and Introductions 3. Intermediaries 4. Business Relationships 5. Business Cards 6. Meetings 7. Negotiations and Decisions 8. A Few Taboos 9. Social Etiquette 10. The Matter of Shoes 11. Holidays in Japan VI. A Look at India A. Geography B. The Modern State of India 1. Economic Growth 2018 NATIONAL ASSOCIATION OF REALTORS 5

6 2. India s Growing Middle Class 3. Home Ownership 4. Subsidies and Rising Commodity Prices 5. Infrastructure 6. Spreading Urbanization C. Monsoon Season An Economic Indicator D. Indian Anti-Corruption Movement E. Foreign Direct Investment (FDI) 1. Tax Havens 2. Workers Remittances 3. Executive Orders F. The India Diaspora Your Next Client? 1. NRIs and PIOs 2. NRI Colonies 3. Why Is This Important for Your Business? G. Bank Accounts for NRIs H. Buying Real Estate in India 1. Agricultural Land 2. Mortgage Financing 3. Real Estate Transaction Costs 4. Can Foreign Citizens of Non-Indian Origin Buy Real Estate? I. Commercial/Investment Real Estate J. Rental Property K. Real Estate Professionals in India L. India s Top Real Estate Trends M. Practitioner Perspective: A Snapshot of Indian Opportunities 1. Internet Fieldtrip N. Doing Business in India Beyond the Basics 1. Names 2. Initial Contact and Introductions 3. Women in Business 4. Business Cards 5. Meetings 6. Demeanor 7. Contracts and Negotiations 8. A Few Taboos 2018 NATIONAL ASSOCIATION OF REALTORS 6

7 9. Social Etiquette 10. Holidays in India VII. A Look at the United Arab Emirates A. Geography B. UAE s Economy and Business 1. Expo 2020 C. Can Foreigners Own Real Estate? D. UAE s Real Estate Trends/Predictions E. Real Estate Professionals in the UAE F. Internet Field Trip G. Doing Business in the UAE Beyond the Basics 1. Names 2. Initial Contact and Introductions 3. Business Cards 4. Meetings 5. Wasta 6. Demeanor 7. Women in Business 8. Social Etiquette 9. Holidays in the UAE VIII. Country Profiles A. A Look at Australia 1. Real Estate Ownership 2. Can Foreigners Own Real Estate? 3. Real Estate and Brokerage Practices 4. Doing Business in Australia Beyond the Basics B. A Look at Hong Kong 1. Hong Kong Real Estate 2. Foreign Ownership of Real Estate 4. Doing Business in Hong Kong Beyond the Basics C. A Look at Indonesia 2. Real Estate Licensing and Brokerage Practices 2018 NATIONAL ASSOCIATION OF REALTORS 7

8 3. Doing Business in Indonesia Beyond the Basics D. A Look at the Republic of Korea 1. Chaebols 2. Foreign Ownership of Real Estate 4. Property Rental 5. Doing Business in Korea Beyond the Basics E. A Look at Malaysia 2. Malaysia My Second Home (MM2H) 4. Bumiputra 5. Doing Business in Malaysia Beyond the Basics F. A Look at New Zealand 1. Real Estate Practices 2. Foreign Ownership of Real Estate 4. Doing Business in New Zealand Beyond the Basics G. A Look at Philippines 1. The Philippine Diaspora Your Next Client? 2. Foreign Ownership of Real Estate 3. Real Estate Professionals in the Philippines 4. Doing Business in the Philippines Beyond the Basics H. A Look at Singapore 2. Stamp Duty Taxes for Sellers and Buyers 4. Doing Business in Singapore Beyond the Basics I. A Look at Taiwan 2. Economy and Business 4. Doing Business in Taiwan Beyond the Basics J. A Look at Thailand 2. Real Estate Licensing and Brokerage Practices 2018 NATIONAL ASSOCIATION OF REALTORS 8

9 3. Doing Business in Thailand Beyond the Basics K. A Look at Vietnam 2. Real Estate Licensing and Brokerage Practices 3. Doing Business in Vietnam Beyond the Basics 2018 NATIONAL ASSOCIATION OF REALTORS 9

CIPS Asia/Pacific and International Real Estate Course Description and Outline

CIPS Asia/Pacific and International Real Estate Course Description and Outline Course Learning Goal The goals of the Asia/Pacific and International Real Estate course are to provide: Knowledge of the Asia/Pacific real estate marketplace Methods for researching, analyzing, and applying