Thessaloniki Student Housing

A brief Thessaloniki student housing guide

Based on the Greek Ministry of Education, there are approximately 330,000 students at Greek public universities at any one time. Thessaloniki accounts for nearly 1/3 of the total number of students in Greece with an estimated 100,000 students (including those attending private colleges and other higher education establishments).

For a city of 800,000 people (city population 2011) this means a particularly high proportion of students, which is evident from the vivid atmosphere and nightlife. The majority of the students are coming from other Greek cities, from Europe via exchange programs and from the Balkan countries in order to study at high quality private colleges. Estimating that on average a full-time student spends about 4 years in Thessaloniki (excluding exchange students), this means that there are approximately 25,000 new students in the city every year. And they all need a place to stay …

This article will provide a brief guide to the types of available student housing, the areas, prices, and things to be aware of regarding student accommodation in Thessaloniki.

1. Types of student accommodation

1a. University publicorms.

The University of Thessaloniki offers lessons to students, based on need and mainly on financial criteria. They are provided free of charge. In practice this means that it is pretty difficult to get a dorm room even if you are eligible to get one. The norms are mostly located close to the university campus, but their quality is very low and maintenance is a big issue, along with issues about safety etc.

1b. University Student Hostels.

These are private properties (entire buildings) which are subleased by the University and are provided mainly to exchange students requiring accommodation for a few weeks or months. These are usually ERASMUS students. As of 2011 there are two student hostels, "Matsi Street 7" and "Kassandrou Street 134", both very close to the university. They offer complimentary wireless Internet access and a hair dryer. All rooms at the ensuite feature a private bathroom and a kitchenette (Kassandrou 134).

1c. Private hostels.

For students wishing to stay only a few days / weeks, these hostels are more appropriate and a better solution than a hotel. However, these are hard to find as private hostels that rent rooms / beds by the day / week are not legal in Greece unless they are Non-Profit Organizations.

1d. Private rental flats.

These are standardone flats (studio, 1 or 2 bedrooms) located all over the city that students can rent from private owners. You can usually find them through real estate agents (beware) or online ads. You will need to find the appropriate one to suit your needs. Most of them are unfurnished or partially furnished and are more suited to students who plan to stay in Thessaloniki for a few years (as you've got to buy electrical appliances, fridge, cooker, etc).

When you move in you will need to enter into a contract with the electricity company DEI, the water and sewage company EYATH …

Buying a Home Off of Parents or Grandparents – Can I Get a Home Loan for a Favourable Purchase?

Favourable Purchase: What is it?

A favourable purchase is a bank term for what they call a transaction where a property is sold “off market” and under “market value”. Off market means without a real estate agent involved so the buyer and seller either know each other or it’s a private sale. Under market value refers to the situation where the seller is not selling the home for what the property is worth and are therefore in essence gifting the purchaser equity.

The most common example is where mum and dad may be retiring or looking to move or downsize and will want to sell the family home. Sometimes the children decide they would like to purchase the property off their parents. The parents will then sometimes sell the property to the kids for a price less than what they could sell on the open market to help their kids out or keep the home in the family.

This is a favourable purchase and different Australian lenders apply different policy on this issue.

How do the banks view a favourable purchase when approving a home loan?

It is important to distinguish a favourable purchase from a sale where the buyer believes they are getting a great deal and buying the property at well below market value. Banks will always lend and base their LVR and deposit requirements on the lesser of the contract of sale price or the valuation unless an exception applies. If for example you purchase a property for $500,000 and the valuation did come in higher at $550,000, the bank will base their LVR and deposit requirements on the lesser of the two, in this case the purchase price of $500,000. If however the valuation came in lower than the purchase price then the banks will base it on the lower of the two being the valuation.

Just stating that you have got a great deal is not sufficient to get the bank to make an exception to the rule and base their deposit and LVR on a valuation that came in higher. There must be a compelling reason why the vendor is selling under market value – the fact they are going bankrupt or it’s a deceased estate is not a compelling reason as, theoretically, what you are paying is market value as that is what the market has deemed the property worth on that given day.

The primary reason why the bank would make an exception is where a favourable purchase is involved. If parents are selling to children the banks understand that there is a reason there, essentially being for love and affection, why the parents are selling below market value. The result is that many lenders will base their LVR and deposit requirements on the actual valuation and not the purchase price.

So what does this mean to me and how much deposit will I need?

When purchasing a home in Australia and getting a home loan you need a deposit. Generally the …

Why Gurgaon Has a Good Scope for Residential Projects in 2016

Some of the best residential projects are happening in the city of Gurgaon in the next 12 months. As the real estate market picks back up and the Indian economy continues to recover, this is one of the premier regions to find the best deals and most beautiful properties on the market. Here are a few reasons by Gurgaon should be your real estate destination in 2016.

1. A Wide Range of Options

One of the best aspects of Gurgaon real estate is the fact that there are many different types of homes available in varying townships. If you’re looking to spend a lot of money for luxury, you’ll be able find such an environment as easily as you can affordable housing. According to the Real Estate Times, the two types of buyers that have emerged in Gurgaon recently are those looking for residential property versus specifically luxury properties. Well-known real estate developer Unitech has recently put down new residential projects in Gurgaon that features luxury amenities. Not only do these types of townships boast the usual services, such as club houses, open green spaces, and excellent access to major roadways, but there’s another level of luxury now offered.

The Ivy Terraces, for example, are a group of properties situated within Wildflower Country and boast access to self-contained services such as schools, nursing homes, shopping areas, banks, and taxi stands. Luxury housing these days is an up and coming commodity, and if you’re looking for a wide array of options from which to choose, look no further than the townships and new projects in Gurgaon.

2. View from the Top

Don’t forget that although you may find a gorgeous flat to live in, you don’t want to forego natural beauty either. According to India Homes, one of the strongest reasons why Gurgaon projects are a good bet for investment is the fact that many apartments offer attractive views of the bucolic landscapes that surround the Millennium City. Properties are located within a more open setting than a city such as clogged and sometime claustrophobic nearby Delhi. Although larger cities and their surrounding suburbs are known for being major business capitals, Gurgaon has the best of both worlds. You can go to work in the Millennium City, or commute to a job in a larger city nearby, but then go home to both a beautiful, luxurious township filled with greenery. This is helpful in leading a life that’s balanced between personal enjoyment and peace, and hard work in your professional life.

3. The Economic Forecast Is Sunny

Gone are the dark days of the recession that were full of doubts and insecurities about the future as the national economy continues to improve. In fact, real estate experts reported to Business Today at the end of last year that it’s time to start investing again, especially due to the fact that prices in certain areas, including Gurgaon, have lowered due to various market factors. If you’re looking to get in on the …

Commercial Agents – Tips to Qualifying Commercial Tenants Today

When it comes to leasing commercial or retail property today, the selection of tenant will be fundamental to the quality of the outcome for the landlord. This says that not all tenants will do or be acceptable when it comes to leasing vacant commercial premises.

So the commercial real estate agent has to qualify and understand the tenant that is enquiring on the vacant property before matters proceed. Some questions need to be asked to get the correct match of property.

When fewer properties are selling, the lease activity tends to be higher. Successful businesses still need to operate from quality commercial or retail premises. This is an opportunity for commercial property agents that specialise in commercial leasing.

So let’s go back to commercial property leasing and the elements that should be considered when qualifying tenants. Here are some key factors to consider before you start:

1. Understand the capabilities of the property when it comes to tenant occupancy. Things to know will include services, amenities, and size of tenancy, improvements, fitout design, and availability, term of lease, options, rental requirements and type, and landlord plans for the property. The permitted use or legal use of the property should be understood as part of this process.

2. Get a full brief from the landlord as to the type of lease that they will do for the premises. A lease can be varied and negotiated, but you have to have the landlord’s base requirements before you start. Ask the landlord about rent levels, lease terms, option periods, preferred tenant, renovation and maintenance plans for the property. These facts should be in parity to the comparable properties in the local area that are also on the market to lease at the moment.

To qualify the tenant you can take the following approach:

  • Find out where the tenant has come from and if they are moving from another property. It is likely that the timing of the move will have impact on your negotiations and inspections.
  • What does the tenant know about rent and properties in the local area? Have they looked at anything else in the area and if so what? It is best to know what you are up against early in the inspection process.
  • Has the tenant been looking at other property with other agents and are negotiations underway elsewhere on any ‘short-listed’ property now? This will have an impact on your discussions and inspections with them.
  • What levels of rent and lease term does the tenant have in mind? Make sure you find out about the extras of lease occupancy such as outgoings payments, and consumables including electricity, gas, water, and communications.
  • Will the tenant require a long lease term and or an option period for a further term? This may not always suit the landlord.
  • The numbers of tenant staff and the type of business will have impact on the improvements and fitout in the property. Ask questions about things such as car parking, loading and deliveries, office

Assignments of Rents – Lenders Beware!

“How can you have any pudding, if you don’t eat your meat?”

Pink Floyd

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Assignments of Rents. Here’s a topic that doesn’t pop up in light conversation very often.

Assignments of Rents. Virtually every commercial real estate financing includes an assignment of rents – either as a separate instrument, or in the mortgage, or both. We think we know what it means, and what protection it provides. But do we?

Assignments of Rents. What could assignments of rents possibly have to do with Pink Floyd?

It has been suggested on occasion, only half-jokingly, that I don’t like lenders. That is really not true. Lenders are valuable participants in the commercial real estate market. Without lenders, few of my clients could buy, develop or own commercial real estate projects. Commercial lenders provide valuable liquidity to the market (usually) and allow commercial real estate developers and investors to leverage available resources.

For years, I have described commercial lenders and their borrows as “friendly adversaries”. Friendly, because they need each other. Adversarial, because their interests are not always completely aligned. They are each necessary complements to the other.

In good times, all typically works well, with lenders and borrowers sharing a common goal -financing a viable commercial project that makes each of them an attractive return.

In troubled times, like we have seen over the past several years, lenders and borrowers can find themselves at odds. The current economic downturn has been particularly brutal because the commercial real estate market has seen an unprecedented collapse in property values and tenant rental revenue. Lenders often blame the borrower, because the loan has ended up in default. Realistically, for most commercial real estate borrowers, there is little if anything they could have done to prevent a default, save not acquiring and financing the project in the first place – which, in hindsight, most borrows wish, as much as most lenders wish, had been the case. But neither borrowers nor lenders foresaw the dramatic financial debacle we have been experiencing since 2008.

Still, we are where we are. Commercial real estate borrowers are holding projects with substantially lower values than existed five or six years ago, and may be in default of their mortgage loans. Not unreasonably, commercial real estate lenders want their money back.

Assuming the lender has properly documented and administered its commercial real estate loan, the lender should be in the driver’s seat. All else being equal, with a properly documented and administered commercial loan, a lender has a powerful arsenal of enforcement tools at its disposal.

That said, lenders must still comply with the law. Assuming they can pass the test of having a properly documented loan that has been properly administered in a manner that does not violate the rights and interests of the borrower, the mere fact that a lender is owed millions of dollars and has a secured interest in the borrowers project (including, yes, an assignment of rents) does not mean a lender can do whatever it …

Where Can You Invest in Ahmedabad?

The real estate in Ahmedabad is witnessing an upward growth trend in recent days. The rapid growth of the industrial sector and overall economic development has helped Ahmedabad to turn into a rapidly developing city in the country in all aspects. With intelligent development governance and progressive policies, Ahmedabad has established itself as the ideal real estate destination in Gujarat. If you are planning to buy an apartment or house in Ahmedabad, here are few locations that are ideal for investment.

Bopal

Bopal has faced a multifaceted development in recent days attracting towards it a lot of investors and home buyers. High-end development blended with royal culture and scenic beauty has made Bopal a preferred location to buy houses for many. Also the capital values of apartments in this locality is affordable when compared to its neighbouring areas.

South Bopal

South Bopal is located close to West Ahmedabad. This suburb is growing exponentially as several corporate companies have started to set up their offices here. This western suburb also enjoys good connectivity to all neighbouring suburbs and cities. The industrial cluster Mandideep located just 20km from Ahmedabad has several factories that help in increasing the working population looking out to buy houses in and around the workplace. Apart from industrial development, Bopal also houses several good and reputed educational institutions.

Satellite

It is a well-developed area in Ahmedabad and is the most preferred real estate destination as well. It is located nearby to the commercial office spaces in Parhlad Nagar making it an ideal choice for people working there. Also Satellite is connected to other localities with well-laid roads and public transport.

SG Highway

The Sarkhej-Gandhinagar Highway connects Ahmedabad to Gandhinagar and provides easy connectivity between various other localities. The areas near this high witness growth in both residential and commercial sector turning SG Highway as the most preferred residential hub. With large parcels of land and affordable prices of properties, SG Highway is currently the best location in Ahmedabad to invest in properties.

Gota

Gota is a suburb of Ahmedabad where you can buy apartments and plots for sale at affordable prices. It is well connected to other suburbs and cities via the SG Highway.

Chandkheda

It is located in the Northwest of Ahmedabad, which has developed into a most sought-after residential hub due to the ONGC office located nearby. It offers plots and apartments at a very cheap price attracting towards it lower and middles income group people. Though its growth is not in a tremendous speed, Chandkheda is developing into a residential and commercial hub with several new corporate projects.

Sanand Nalsarovar Road

For those of you who wish to buy house in a serene locality free from hustles and bustles of the city, Sanand Nalsarovar Road is an ideal location to invest. It attracts towards it many reputed investors and builders to launch several new residential projects. People are also showing great interest in buying houses in this locality.

Bagodara

It is also another serene and …

Economic Stability and High Quality of Life in Plano, Texas

Situated approximately 20 miles north of Dallas on U.S. 75, Plano, which lies for the most part in Collin County, has more than 274,000 residents. A suburb of Dallas, the city has garnered numerous community accolades in recent years and is considered a prime location for singles or families relocating to the Dallas-Fort Worth Metroplex.

In 2006 CNN’s Money Magazine named Plano the 11th best place to live in the United States after citing it in 2005 as the best place to live in the Western U.S. In 2008, Forbes selected the city, along with Highland Park and University Park as the “Top Suburbs to Live Well” in the DFW.

Exceptional Ease of Access to the Greater Metroplex

Because Plano is a member of the Dallas Area Rapid Transit (DART) system, commuting into the city is made much easier. The DART system operates light rail, commuter rail, and buses and maintains high-occupancy vehicle lanes in Dallas and 12 of its suburbs. With 45 miles of track, DART is the largest light rail operator in Texas, and has an average daily ridership of 57,000.

Plano is also served by major roadways: U.S. Highway 75 to the east, the Dallas North Tollway to the west, the President George Bush Turnpike to the south, and SH 121 (a toll road) to the north. Preston Road (State Highway 289) also routes through Plano.

Stable Local Economy with Strong Corporate Presence

Many business have located their corporate headquarters in the city including HP Enterprise Services, Frito-Lay, Dr. Pepper, JCPenney, Cinemark Theatres, Ericsson Inc., Siemens PLM Software, and Rent-A-Center. An estimated 80% of the visitors to Plano are there for business purposes and the city owns and operates a medium-sized convention center.

Thanks to a targeted effort on the part of the city, a significant amount of retail presence has been cultivated in the downtown area, anchored by the Shops at Legacy in Legacy Town Center. The multi-use development includes shops, restaurants, apartments, a full-service hotel, and entertainment venues all in a community setting.

Superior Schools and Access to Higher Education

The Plano Independent School district includes 70 campuses with an enrollment of 55,193 making the locale especially attractive for families. The Collin County Community College district has two campuses and there are 16 private schools available locally. Southern Methodist University maintains a campus in Plano with academic programs in business, engineering, education, and computer training (as well as a slate of continuing education courses.)

In the broader Metroplex region, graduating seniors can choose to attend Texas Christian University in Fort Worth, the University of North Texas, the University of Texas at Arlington, the University of Dallas in Irving, and a host of smaller and specialized institutions.

Climate Conducive to Outdoor Activity Most of the Year

North Texas has a humid, subtropical climate, characterized by warm spring and fall seasons with temperature extremes in July and August and again in January and February. A series of days of 100 degrees and more is common in August, …

Apartment Building Investing – Find Motivated Sellers

As the creator of the “Buy Your First Apartment Building E-Course” I have many potential students and beginning investors ask me, “How do I find motivated apartment building sellers?”

There are many ways that investors use to find motivated sellers, however, what I see happening many times with beginners is that they start looking for properties to purchase before they thoroughly understand how to identify a truly profitable opportunity. Here are my recommendations for how to begin learning about multifamily investing and then how to find motivated sellers.

Begin by learning what makes mult-family property profitable by taking these steps:

  1. Study and learn about what makes an apartment building profitable.
  2. Read as many books about real estate investment and apartment building investment as possible. It is a lot easier to learn from other people’s mistakes. There is no need to reinvent to the wheel.
  3. Find a reputable real estate investment club in your geographic area and meet with the commercial investor members. These “old hands” are a valuable source of market information.

After the aspiring multi-family property buyer has received a thorough education by reading books, industry magazines and networking with other commercial real estate investors then he or she is ready to begin the process of searching for an actual property to purchase.

Contacting Commercial Realtors

A great reference source for finding well educated commercial real estate agents is the CCIM website. The CCIM is a professional designation that qualifies a commercial real estate professional as capable and knowledgeable in the field. You can also find commercial real estate agents using a simple search on the web.

When searching for a commercial real estate agent take these steps:

  1. Speak to a number of commercial realtors in the area and ask about “pocket listings”. Pockets listings are apartment building owners that the experienced realtor might know who are serious about selling their building but they have not listed the property yet.
  2. Find a commercial realtor who specializes in multi-family investments. A good commercial realtor who specializes in multifamily properties should have a great knowledge of what apartment buildings have sold for recently.

Alternative Strategies for Finding Apartment Building Deals:

  1. Place an ad on Craigslist stating what you are looking for:
  2. “Looking To Sell Your Apartment Building? I am a commercial real estate investor interested in buying multi-family property in Philadelphia between 5 and 100 units. I am looking for owner financing over five years with 5% down or will buy with a 20% down payment and a bank loan.”

    Or, here is an ad that I copied directly from Craigslist this morning:

    I BUY MULTI-FAMILY PROPERTIES W/SELLER FINANCING OR QUICK CASH. Need to sell?
    Moving? tax benefits run out? call me for a offer.

  3. You can also place the same ad in the commercial real estate section of your local newspaper but be prepared to pay a handsome sum for the ad and also be ready for unsolicited calls for real estate agents. Newspaper ads do work but you are

Save Yourself From Fake Realtors

People across the globe have been fooled and cheated by land scamsters. The misleading claims of real estate dealers lure people in buying property, which was never open to sale! If you are thinking of purchasing land, do the necessary homework beforehand to avoid falling victim to such land scams.

In these tough economic conditions, investing into real estate is considered to be a potent tool to attain financial stability. This is the reason why people find investment in real estate more reliable and are therefore ready to pour down their fortune to own a piece of land. As usual, this boom has also given birth to frauds and scams and a considerable amount of people have fallen victim to these swindlers.

So, if you are thinking of acquiring a plot, beware of these con artists. You can follow these simple steps to avoid being a victim;

Reputation Of The Real Estate Dealer

First look around to know about the reputation of the real estate dealer. You can also check with the firm itself to know about its experience in the field. Tell them to show you testimonials from previous clients. Find out whether the dealer you are thinking of hiring holds and participates in property exhibitions periodically. This will help you judge the goodwill of the firm or the dealer. You can also research on the amount of expertise or capability of the personnel associated with this firm. Last thing that counts to judge the reputation of the concern is whether the top brass of the firm are invited or rather asked to speak at social gatherings. These points will really help you to judge the reputation of the real estate dealer.

Visit The Realtors

Sometimes, due to work pressures, we often find it hard to manage time for a visit to the real estate dealer. And therefore we try to get the entire work done either through phone or online. Studies show that maximum land scams occur due to this very reason. Though you can start a negotiation online or through phone but you are advised to visit the realtor personally. Doing so will let you spend some time with the firm which will further educate you on their capabilities and previous work reports. Moreover, you can also ask them questions regarding the property.

Legal Guarantees

When you acquire land, you also get inclined to several issues and tensions. To get rid of such complications you should make sure that the realtor or firm you are choosing offers guarantee that the land is indeed up for sale and they have the right to sell it. Go through the legal documents very carefully.

Verify All The Claims Made

Your watch out job starts when you visit the real estate dealer and are presented with a brochure. This brochure usually contain information about the plot as researched by the firm in due times. Studying them carefully will give you an idea whether the inputs are sketchy or true to sense. …

Wholesaling Real Estate In Six Easy Daily Checklists

We ran the largest real estate wholesaling business in the world wholesaling properties to investors in 280 US markets and the entire wholesaling process can be broken down into 6 easy to implement daily checklists. Here they are in order of importance and, coincidentally, the order you should work them each day.

First, you need to remind yourself daily the direction you are heading in and what you want to achieve. Stephen Covey says, “begin with the end in mind,” and so we want to review our goals, empowering daily questions and affirmations first. It should only take 5 or 10 minutes but it sets the tone for the entire day and is a critical, often overlooked, first step.

Second, and this is a big one, you need to take care of all your marketing. When wholesaling real estate you need to focus on marketing in a few major categories: buying (or controlling properties), selling (and building your buyers list) and hiring help.

For the marketing for buying properties you’ll be taking actions that get sellers calling you with the properties they have for sale. Easy things like using Craigslist effectively can produce a steady flow of wholesale deals.

You can also rely heavily on Craigslist when marketing to sell properties that you have control of and to grow and strengthen your buyers list. However, there are some highly effective, low cost direct mail methods of finding the most serious, active buyers that are buying deals just like the ones you control and are trying to wholesale too.

One of the easiest things to do to automate your wholesaling business is to find help that costs you nothing up front and that is only paid when you close a deal. Posting just one or two ads per week to find researchers and bird dogs can bring you a flood of deals and investor buyers that puts you in the position of sifting and sorting which sellers and investors you work with.

The third daily checklist is working with your seller inquiries through the entire buying process from the initial call back, through the research phase, to making offers and following up all the way through you collecting your wholesaler fee when you release control of the property to your buyer.

The fourth daily checklist is working with your buyers (both retail and investor). One of the great appeals to wholesaling is being able to rely heavily on the work you’ve done in the past with your existing buyers list. Growing your buyers list in number and strengthening your relationship with your buyers list are worthwhile daily activities.

The fifth daily checklist is where you work with your other real estate dream team members. Here’s where you focus on working with your title company, hard money lender, real estate agents, mortgage brokers and more. A strong team can make even the weakest leader successful so focus on getting the strongest team possible and let them do their best. If the transaction …