The Latest News on Real Estate Prices, Immigration Rules and Expat Jobs
Handing cash won’t solve Paris home prices
A skilled worker needs wages for 15 years to afford a 646 square meters apartment in the center
The value of real estate in Paris has skyrocketed, and in order for houses to become accessible to the vast majority of the city’s inhabitants, much more will be needed than just handouts.
UBS recently rated Paris as the world’s most inaccessible major city, with the exception of Hong Kong. According to the estimates, a skilled worker needs wages for 15 years to afford an apartment in the center with an area of 646 square meters.
To be clear, one square foot of primary Parisian property is cheaper in US dollars than San Francisco, London or New York. But the gap is narrowing. Even in the face of protests and strikes, the primary capital market in the French capital grew by 6.4% last year and could grow by 5.9% this year, ahead of other major cities in the world, according to Savills.
Real estate prices in Paris have more than doubled in 15 years, and the average price per square meter has risen 19% since 2016, according to Century 21.
Not just a Paris problem
The wider eurozone is home to some of the most complex real estate markets in the world in terms of price increases. The combination of record low interest rates, stable economic performance and Brexit’s influence on London investment pushed buyers and money into continental cities.
According to Knight Frank, in June 2016 in Amsterdam, Berlin and Dublin, growth was 39%, 38% and 22%, respectively. Given that wage growth in the eurozone is low, such increases look frothy.
UK unveils immigration overhaul for 2021 focused on skills
New British “point-based immigration system” will evaluate potential immigrants for a range of skills, qualifications, salaries, or occupations
The UK has announced new rules of immigration after Brexit, which will make European Union citizens tougher, but it will be easier for people from many other countries to move to the UK starting next year.
Prime Minister Boris Johnson’s Conservative government said the new rules would “open up the U.K. to the brightest and the best from around the world” while ending “the reliance on cheap, low-skilled labor coming into the country.”
But British employers said the radical changes could lead to a labor crisis in sectors such as healthcare and social security.
Britain’s exit from the EU last month after 47 years of membership has caused major changes in the country’s immigration rules in recent decades. During UK membership in the EU – and until the transitional period after Brexit ends on December 31 – citizens of any of the 27 EU countries are free to live and work in the UK.
More than 3 million EU citizens currently residing in the UK are entitled to reside. But from January 1, 2021, the new immigration rules will apply to both EU citizens and non-EU citizens.
Home Secretary Priti Patel said the new British “point-based immigration system” will evaluate potential immigrants for a range of skills, qualifications, salaries, or occupations.
People who hope to work in Britain will need a job offer of at least £ 25,600 ($ 33,000) per year. This is less than the current 30,000 pounds (39,000 US dollars) established for immigrants from non-EU countries, which exceeds the average annual wage in the country. Potential immigrants who earn less can come if they have other skills.
Highly skilled migrants are currently required to have higher education, but in the future only the equivalent of the pre-university level “A” will be required.
The government says the new rules will reduce net immigration from the current level of more than 200,000 people a year. But it has abandoned the promise of previous conservative governments to reduce UK net annual immigration statistics to below 100,000 a year.
The immigration plan still needs to be adopted by Parliament – which is very likely, since Conservatives have an overwhelming majority.
Finding a job as a new expat arrival in the Netherlands
Whether you like or hate social media, this is one way to find people who would fill your own social network
Expats arriving in their chosen country and looking for work after they have settled in may be doing things the hard way!
Finding the perfect job in a new country is often a frightening experience, since most newcomers have no idea how things are in their chosen sector or how the work itself deviates from the norms of their home country. For many, the only answer is to think outside the box and act outside their own comfort zone.
Most emigrants arriving in the Netherlands do not understand how the job network is structured, as many locals get good jobs simply because of someone they have known since their student days. Brotherhoods, clubs and other similar clubs have something to answer for when it comes to using the best opportunities in their world of work. The answer for expats is to start building their own networks as soon as possible.
Whether you like or hate social media, this is one way to find people who would fill your own social network. There is no need to meet in person, although this can be fun, and beginners should keep in mind that working in the Netherlands full time often requires more time than working at home. WhatsApp and Skype are good for beginners, and asking for advice or even help can often be the beginning of a beautiful and useful friendship.
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