Driving down the four-lane highway from Bangalore’s airport to the city centre, our progress slowed. The road ahead narrowed to two lanes due to bridges that the government has found prohibitively expensive to wide. Arriving after a full day of travel, my trip suddenly became that much longer as we trudged through traffic on the way to my hotel. I could see why assignees desire to live near their offices.
Rents are stabilizing in Dublin following a long period of inflation. Vacancy rates are still very low, and it can be difficult to find a one- to two-bedroom apartment in the city. There are a number of new developments, but progress is slow. Some companies buy blocks of buildings to renovate for employees, which decreases overall rental stock.
The Bandra Kurla Complex in Mumbai, referred to by many as BKC, has continued to develop and is fast becoming the new business and residential heart of Mumbai. Originally intended to serve as an alternate business district to help decongest south Mumbai, commercial office stock has increased at phenomenal rates in the past five years. BKC now houses India’s Stock Exchange and the Indian headquarters of many large multinational companies.
On my most recent trip, I visited Baku, Azerbaijan. The political and economic heart of this oil-wealthy nation, Baku had seen a large exodus of expatriates starting in 2014 due to falling oil prices. These departures and an overall weak economy brought rents down significantly. Over the last two years, rents have started to recover, and the sources I met with indicated moderate price increases in certain areas. While oil prices have rebounded slightly, the primary driver of rising rents is a decrease in the supply of long-term rentals. ]
Mumbai has long been known as a city with high levels of air pollution from the choking congestion and horrendous traffic conditions. During my recent survey, I confirmed that this reputation has yet to change! The construction of the elevated lines of the Mumbai Metro project continues to aggravate traffic problems along SV Road in the expat areas of Bandra, Santa Cruz, and Khar. Additionally, rush-hour gridlock in Bandra Kurla Complex (BKC) is being impacted by the work on the BKC Metro station project where there will be a new Metro Line 3 and 2B interchange.
Before assignee’s arrive in South Korea, it’s important for them to understand the variety of ways to rent a property. In general, there are three different rental payment methods in South Korea, and a mix of all three is typically used in any given city.
Santa Cruz is considered one of the world’s fastest growing cities due to the ongoing migration of Bolivians from the rural regions to the country’s economic powerhouse. During my recent survey, I learned much about this developing city.
Tenants in Canada (and most of the world) are required to pay for rent and utilities, as well as extra amenities like cable TV and internet. There are some parts of Canada, however, where renting water heaters is common, and the question of who pays – tenant or landlord – can cause confusion.
Rents increased in Neuquen due to higher demand and low vacancy rates. Real estate agents have clients on waiting lists for apartments, and rentals are not listed for long before being rented. Construction projects are underway for new apartment buildings, which should help increase the number of 2-3-bedroom apartments. However, with growing expatriate demand, rents may increase over the next 6-12 months.
Construction of new apartments and houses over the last four years has created a large rental supply in Santa Cruz. Lower demand for these rentals has resulted in dropping rents. Vacancy rates are high at all but the most popular apartment buildings. Construction continues, with more 2-3-bedroom apartments planned to enter the rental market in the next 6-18 months. However, sources believe rents have likely reached their lowest point.