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Internationalisation of Developments and Residential Estates - Professor Mark Sharp


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Internationalisation of Developments and Residential Estates - Professor Mark Sharp

  1. 1. Global Perspectives<br />Professor Mark Sharp<br />AIPP Chief Executive<br />
  2. 2. Scope<br /><ul><li>Overview of AIPP
  3. 3. Overview of global trends
  4. 4. AIPP 2011 objectives
  5. 5. Working together
  6. 6. Summary</li></li></ul><li>Who we are<br /><ul><li>Not for profit organisation.
  7. 7. Set up to improve the standards of professionalism in the international property market.
  8. 8. Provide the consumer with confidence.</li></li></ul><li>Who we are<br /><ul><li>Provide a united voice for professionals.
  9. 9. Members follow robust Code of Conduct.</li></li></ul><li>Who we are<br /><ul><li> Members pride themselves on:
  10. 10. Honesty
  11. 11. Integrity
  12. 12. Transparency</li></li></ul><li>Who we are<br /><ul><li> Members therefore provide a professional service and are accountable to the AIPP via:
  13. 13. Complaints Procedure
  14. 14. Reprimanded, fined, suspended, expelled.
  15. 15. Dispute Resolution Procedure
  16. 16. Arbitration </li></li></ul><li>Global trends<br /><ul><li> Generally global economy is in slow recovery with pockets of resistance.
  17. 17. Australia seeing significant signs of house price inflation (18%) as is Canada (16%).</li></li></ul><li>Global trends<br /><ul><li> China’s tourism starting to gather pace and luxury housing will start to attract consumers although purchasing is restrictive in Asia.
  18. 18. Turkey is experiencing significant growth both in economy and second home buyer investment as are certain areas in Russia (Moscow) and Brazil (Sao Paulo).</li></li></ul><li>Global trends<br />World trade figures between developed countries and developing countries 05 -12<br />(c) Economist Intelligence Unit 2010 <br />
  19. 19. Western markets<br /><ul><li> Lending strategy dominates the market - USA just breaking even.
  20. 20. UK domestic market is up on the year but still 5-10% down on 2007 highs.</li></li></ul><li>Where UK is spending<br />Dept of Business, Innovation and Skills 2010 <br />
  21. 21. Where UK is spending 2007-2012 comparison (units in 000)<br />Dept of Business, Innovation and Skills 2010 <br />
  22. 22. Who is buying international property by age - UK<br />Dept of Business, Innovation and Skills 2010 <br />
  23. 23. UK Buyer Profile<br /><ul><li>Knowledgeable
  24. 24. UK consumers are now knowledgeable about the market and the do’s and don’ts of international real estate.
  25. 25. USA
  26. 26. Is regulated via NAR but not to international markets.</li></li></ul><li>UK Buyer Profile<br /><ul><li>Market
  27. 27. Generally better than it was a year ago.
  28. 28. Reluctance to buy off plan.
  29. 29. Sceptical with regards to investment claims.
  30. 30. Risk adverse towards liability.</li></li></ul><li>Outreach<br /><ul><li>UK Consumers
  31. 31. At a recent UK Exhibition 91% of UK consumers looking to buy are aware of the AIPP.
  32. 32. Business
  33. 33. We provide opportunities to develop business not just other agents but wider industry development such as independent lawyers, foreign exchange and media companies.</li></li></ul><li>Outreach<br /><ul><li>Fractional ownership
  34. 34. AIPP now ‘actively involved’ in fractional ownership and so welcomes the fractional industry.
  35. 35. Home ownership
  36. 36. We continue to recognise businesses offering whole ownership.</li></li></ul><li>Outreach<br /><ul><li> Opportunity
  37. 37. Membership enhances profile and consumer confidence.
  38. 38. Consumer Guide
  39. 39. We produce an annual guide that has a large distribution; all AIPP members are listed.</li></li></ul><li>2011 Development<br /><ul><li> Association
  40. 40. Code of Conduct established now introducing standards as a guide to members.
  41. 41. Proposing country specific panels in Spain, Turkey, Cyprus, USA, Holland.</li></li></ul><li>2011 Development<br /><ul><li> Members
  42. 42. Provision of enhanced PI insurance.
  43. 43. Introduction of Latent Defect Insurance for overseas property (much aligned to NHBC warranty).
  44. 44. Viewing trip insurance to comply with EU regulations.</li></li></ul><li>2011 Development<br /><ul><li> Consumers
  45. 45. Defective Title Insurance
  46. 46. Occupiers Liability Insurance
  47. 47. AIPP Bond</li></li></ul><li>2011 Development<br /><ul><li> Education
  48. 48. Established a National Qualification Framework (NQF)
  49. 49. On-line (modular) training for both members and consumers
  50. 50. Developing an MSc in International Real Estate</li></li></ul><li>Going Forward<br /><ul><li> Data
  51. 51. Data collection and usage are needed.
  52. 52. UK Data collection for research dissemination and consumer knowledge outputs.
  53. 53. International agreement for data collection.</li></li></ul><li>Going Forward<br /><ul><li> Data
  54. 54. KPI’s to monitor performance of the industry
  55. 55. Benchmarking
  56. 56. Trend tracking </li></li></ul><li>Going Forward<br /><ul><li> Consumer confidence
  57. 57. Undertake AIPP training and it will increase consumer confidence in you and your product.
  58. 58. Promote best practice and knowledge exchange.</li></li></ul><li>Going Forward<br /> Consumer <br /><ul><li> AIPPand partners to promote consumer knowledge by holding events
  59. 59. Provide marketing opportunities via publications</li></li></ul><li>Summary<br /><ul><li>Overview of the AIPP
  60. 60. Identified the global trends
  61. 61. What UK buyers want
  62. 62. 2011 Development
  63. 63. Summary</li></li></ul><li>Next steps…….<br /><ul><li> …………lets keep communicating</li>