Money-saving tips for work-related travel

Travel is exciting, whether for work or personal reasons. While traveling for work should sound stressful, strangely it usually isn't for many millennials. Add in the perk of having your trip financed by a third party, probably your company or client, and it might get way too exciting. So much so that you start dipping into your own cash reserves.

While you may not be the one spending the money. Traveling overseas for work presents a great opportunity to save up some cash, probably enough to travel again in the future.

The first step as with any frugal spending approach is to sit down with pen and paper and examine your budget; what is essential and what is trivial. What can you live without and what is crucial. Keep these four money tips in mind when next you're traveling for work.

- Consider going for cheaper accommodation. An economical option might be opting for short-term Airbnb units instead of expensive hotels. There are also services, like Homestay, which allows you to stay with a host in your destination for a reduced price. Often, you get to mix with the locals and actually experience what living in that city or country feels like. However, ensure to find out if this wouldn't be in violation of company policy.

- Check out cheaper airlines. You can snag a deal on flights and other essentials with a service like Lowfares that allow you to compare rates on airfares, hotels, and car rentals. Another tip is to travel during off-peak periods.

Generally, weekdays, especially midweek, are a great time to secure cheap rates. FareCompare CEO, Rick Seaney, in an article on USAToday https://eu.usatoday.com/story/travel/columnist/seaney/2018/01/02/best-and-worst-days-fly-2018/995658001/ , puts Jan 9 - March 16 as the cheapest times to fly through Europe. Since prices drop as much as 40% over holiday fares.

- Cut back on restaurants and drinks. Money spent on food per day can easily add up, especially when you're not the one spending. However, it only takes a little discipline to be thrifty and get some cash saved. One tip is to plan out what you'd eat every day and how much you want to spend. Don't get too cut up in the local cuisine, while ignoring your pocket. An advantage of a service like Homestay is that it allows you to spend little on food.

- Teach a language or offer a service. You can try a service like Diverbo, which will cover some of your vacationing costs and in exchange, you help locals with their English. AdventureWork shows listings of jobs in the adventure space. Folks literally pay you to teach skiing and snowboarding etc. You can also babysit or teach a language. https://www.forbes.com/sites/laurabegleybloom/2016/07/27/23-companies-that-will-help-you-travel-the-world-for-free-and-maybe-even-pay-you-to-do-it/#4e5d1881e0fd . So, if you have some free time on your hands, you can consider offering a service or volunteering.

There are also discount services or loyalty rewards on hotels and fares. You can take advantage of these if you frequent the same location multiple times a year.

Traveling overseas for work presents an opportunity to work, have fun and maybe get enough money saved up to finance your next travel.

Asian investors are the largest group snapping up foreign property according to research. But in which cities are they investing? And why?

As more people's attention is being drawn to real estate as an asset class, a larger number of people are seeking out foreign property. 2017 saw a large number of Asian investors enter the market sweeping up properties from the US to Canada straight to France. Recently, contrary to expectations, their attention is being drawn to residential and commercial properties in London, UK.

Propertywire's first quarter of 2018 stats https://www.propertywire.com/news/global-news/londons-commercial-property-market-top-draw-international-buyers/ reveal that overall about 5.6 billion pounds of foreign money was invested in London, with Asian investors contributing about 4.4 billion pounds or 65% of the total investments. The next highest was Hong Kong at 5 billion with Paris following from behind at 1.9 billion pounds.

If you're looking to invest in real estate, one of the major factors you would need to consider is liquidity. Based on liquidity, these are the top performing cities for cross-border real estate investing in 2018. This is indirectly influenced by population growth, employment growth and usually followed by an increase in home values or strong rental yield. 

•   New York, USA: Brooklyn and Manhattan are two of New York's favorite hot spots for foreign real estate investors. The activity of Chinese, Russian and Middle Eastern real estate investors, paying cash on high-end properties has consistently driven New York City’s real estate price upwards. With a population growth that hasn't slowed down, New York City real estate not only offers liquidity but stability for real estate investors.

•   London, UK: Despite Brexit, London leads the way as a favorite for foreign real estate capital. In the aftermath of Brexit, the attention to both London's commercial and residential real estate has been largely driven by a weaker pound and more affordable housing. Foreign real estate activity in London is largely funded by equity funds, institutional investments, and private capital. Units in the mid-range segments have been most popular among buyers. Presently, though, the government is setting tax constraints on foreign real estate investing as the cost of home ownership increases.

•    Hong Kong, China: In 2017, Hong Kong was named the "most luxurious" prime housing market for the second year running by Christie's real estate https://www.christiesrealestate.com/eng/sales/hkg . Hong Kong's housing market has shown little cooling with 4.4 billion pounds of foreign money spent by foreign investors in 2018 first quarter. The heated market in Hong Kong, as experts pinpointed, is a major reason for increased residential housing prices all through China.

•    Paris, France: The French economy is seeing a boom with the number of foreign investment activity reaching a 10 year high last year. The French economy exceeded expectations with a 2.2% growth, a large number of jobs created and strong real estate activity. Also with fairly stable mortgage rates, many investors are picking up properties in Paris and Bordeaux. Beyond 2018, analysts speculate the South of France will experience a strong housing demand.

•    Los Angeles, CA: Los Angeles may soon replace Hong Kong as the no 1 most expensive city for expats. Currently, the average price of a luxury property in Los Angeles is $2.5 million. With population growth, increasing disposable income and a thriving tech sector, Los Angeles real estate offer stability and liquidity for investors. However, housing is in short supply. A situation leading to soaring house prices. With population growth and a great economy, Los Angeles is a great option for single-family investors seeking high rental yield.

Are you curious about what the future holds for the real estate industry? With the rapid evolution of technology and shifting market trends, it can be challenging to stay ahead of the game. In this article, we'll dive into the emerging trends in real estate 2023 that are set to shape the industry. From technological advancements to shifting demographics, we'll cover it all.

Introduction

Real estate has always been a dynamic and ever-changing industry, and 2023 is no exception. As we move towards the future, we can expect to see significant changes in the way we buy, sell, and manage properties. The real estate industry is set to undergo a major transformation as emerging trends continue to shape its landscape. In this article, we'll take a deep dive into the most prominent emerging trends in real estate 2023.

The Emergence of Smart Cities

One of the most significant emerging trends in real estate 2023 is the rise of smart cities. As technology continues to evolve, so do our cities. Smart cities are designed to improve the quality of life for their citizens by utilizing technology and data to optimize city services and infrastructure. This includes everything from traffic management to public safety, waste management, and energy consumption. Smart cities are set to transform the real estate industry as they create new opportunities for developers, investors, and property managers.

Benefits of Smart Cities

• Improved quality of life for citizens
• Increased sustainability and energy efficiency
• Improved public safety
• Enhanced transportation systems

Increased Adoption of Virtual Reality

Another emerging trend in real estate 2023 is the increasing adoption of virtual reality. Virtual reality technology is transforming the way we buy, sell, and market properties. It allows buyers to take virtual tours of homes and properties, which can save time and money. Additionally, virtual reality can help property managers showcase their properties in a more engaging and interactive way.

Benefits of Virtual Reality

• Saves time and money
• Enhances property marketing
• Allows for remote property viewing

The Growth of Co-Living Spaces

As the world becomes more interconnected, we're seeing a rise in co-living spaces. Co-living spaces are shared living environments where individuals or groups of people live together in a communal setting. This type of housing is becoming increasingly popular among young professionals, students, and digital nomads. Co-living spaces are designed to foster a sense of community and provide affordable housing solutions in urban areas.

Benefits of Co-Living Spaces

• Affordable housing options
• Sense of community
• Shared resources and amenities

Shifting Demographics

The demographics of real estate are changing, and this is set to continue in 2023. The aging baby boomer population is downsizing, while millennials are becoming the largest group of homebuyers. This shift in demographics is creating new opportunities for real estate developers and investors.

Impact of Shifting Demographics

• Increased demand for affordable housing
• Demand for urban, walkable communities
• New opportunities for real estate investors

Sustainability and Green Buildings

As the world becomes more environmentally conscious, the demand for sustainable and green buildings is on the rise. Green buildings are designed to minimize their impact on the environment, reduce energy consumption, and provide a healthier living environment for occupants. In 2023, we can expect to see an increased focus on sustainable real estate development.

Benefits of Green Buildings

• Reduced energy consumption
• Healthier living environments
• Lower operating costs