Housing

Ankara, Turkey as seen during an AIRINC on-site cost of living survey.

Currency Bans in Turkish Real Estate Market

For many years, the expatriate rental market in Turkey has been dominated by leases signed and paid in USD or EUR. In September of this year, President Erdogan issued a decree stating that all leases in foreign currency must be converted to Turkish lira (TRY). This move was made to stem the sharp inflation that battered Turkey’s currency in 2018, resulting in a loss of over half its value at its worst point.

A mall in Astana, Kazakhstan as seen during an AIRINC cost of living survey. Photo taken by AIRINC surveyor Oscar Rasson.

A Cost of Living Survey in a digital world

At AIRINC, technology allows our dedicated survey staff to collect data and monitor changes through telephone and online research in conjunction with on-site surveys. We collect a wider range of data more efficiently using this multi-pronged approach, and by using an in-house research survey team, we collect the most objective, consistent pricing data.

City view of Doha, Qatar. Photo taken by AIRINC surveyor Samuel Pearl Schwartz.

Increased Incentives, Availability 

With the continuing diplomatic blockade, more expatriates are leaving than arriving in Doha. In addition to dropping rents, some landlords are offering incentives on one-year leases, such as one to three months of free rent on twelve-month leases.

Aerial view of Guyana en route to the capital city, Georgetown. Photo taken by AIRINC surveyor Rose Allen.

Guyana and the Discovery of Vast Oil Deposits

During our recent survey quarter, I traveled to Georgetown, Guyana. Flying over Guyana I was struck by its rural feel and dense forests. From the air, it looked like the most untouched land I’d ever seen, and I later learned that roughly 80% of Guyana is rainforest.

Hundreds of housing units to choose from:

The rental housing market in Abu Dhabi is coming steadily down due to the high number of quality new properties that have come on the market, as well as fewer expatriate arrivals.

Volatility Affecting International Assignees – How Should Mobility Respond?

News about extraordinary economic volatility in major emerging market countries such as Argentina, Brazil, Turkey, South Africa, and others has global mobility departments questioning whether they need to take any special measures to address the concerns of their international assignees. 

Amendments to the individual income tax law

The Chinese government has enacted amendments to the individual income tax law, which will be implemented in two phases – October 1, 2018 and January 1, 2019. The changes that are effective October 1, 2018 include

Brazilian Housing

Demand has not kept up with the surge of new construction in Brazil. This gap has led to higher vacancy rates and lower or more negotiable rents. Landlords with vacant units are still responsible for expensive maintenance fees and IPTU taxes, and some may be willing to lower the rent to secure a tenant.