F E B R U A R Y 2 0 1 4 V O L U M E 2 , I S S U E

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A P U B L I C AT I O N O F I N T E R N AT I O N A L R E A L E S TAT E F R O M

B E T T E R H O M E S A N D G A R D E N S R E A L E S TAT E | G A RY G R E E N E

Internationale

In 2013, total U.S. existing homes sales volume to international clients was estimated at $68.2 billion, or 6.3% of total U.S. existing homes sales. While international sales decreased from the previous year, the dollar amount of those transactions was the second highest in recent years.

In the international business community, the Houston region ranks as an influential global market leader with impact worldwide. The Houston region has:• More than 90 consulate offices;• 20 foreign banks, representing 9 nations;• 765 foreign-owned firms;• 395 companies with branches in 143 other nations; and• More than 3,300 firms, foreign government offices, & nonprofit s conducting international business. 2014 shows signs of continued international growth for the Houston region. Agents of the Gary Greene International Division hold a competitive advantage in the global market space through our strategic partnerships, cultural education, and global relocation network.

Please contact me at oscar.gonzales@garygreene.com or 713-465-6644 with your ideas on articles or topics you would us to explore.

Oscar Gonzales, MBA, PhDInternational Division Director

F E B R U A R Y 2 0 1 4

V O L U M E 2 , I S S U E 1

A P U B L I C AT I O N O F I N T E R N AT I O N A L R E A L E S TAT E F R O M

B E T T E R H O M E S A N D G A R D E N S R E A L E S TAT E | G A RY G R E E N E

In this Issue:

Korean Air to Launch new Houston-to-Seoul Service

Expat Housing in China

Understanding Islamic Mortgages and Sharia-Compliant Financing

Upcoming Networking Events

Internationale

Korean Air will launch a new nonstop service between Houston's George Bush Intercontinental Airport and Seoul, South Korea's Incheon International Airport

Click on image to learn more 

Korean Air to Launch NewHouston to Seoul Service

An expat transferring to China will place value on things such as property condition, proximity to public transport, and international schools.

Home searches should begin at least eight weeks before the move-in date given some ownership restrictions.

Click on the image to learn more

Expat Housing in China

Understanding Islamic Mortgages & Sharia Compliant

FinancingIslamic mortgages and Sharia compliant financing prohibits charging interest on loaned money. The basic principle of Islamic banking is based on trade rather than risk-transfer as in conventional banking.

In an Islamic mortgage transaction for example, a lender will buy the property from the seller and resell it to the home buyer at a profit. The home buyer pays the lender in installments with the property being registered in the name of the home buyer. The lender's profit cannot be made explicit and no additional penalties for late payments can be assessed. To protect itself against default, the lender may require absolute collateral in the property.

Another alternative allows for purchase in the form of rental. The lender and borrower form a partnership with each providing capital to purchase the property. The partnership rents out the property to the home buyer and charges rent. The lender and the homebuyer share the proceeds from the rent based on the current equity share of the partnership. The homebuyer in the partnership also buys the lender's share of the property at agreed installments until full equity is transferred to the home buyer and the partnership is ended.

If default occurs, both the partnership and the home buyer receive a proportion of the proceeds from the sale of the property based on each party's current equity.

Upcoming Networking Events

FEBRUARY 6TH8:00AMAsia Society Texas Center: Crisis in Governance, Energy Security, and the U.S. Withdrawal from AfghanistanAsia Society713-496-9901

FEBRUARY 11TH12:00 PMGerman American Chamber of Commerce South Houston: Wirtschaftsrunde—German Business RoundtableGerman Consulate Generalsjehlitschka@gaccsouth.com 6:00 PMRussian Chamber of Commerce: Reception Honoring Russian Delegation to Arctic Technology Conference 2014Four Seasons Hotel713- 429- 4680

FEBRUARY 13TH8:00 AMAsian Chamber of Commerce: A Taste of A.S.I.A.—Exceptional Presentation SkillsHESS Club713-782-7222

FEBRUARY 15TH9:00 AMBilateral US-Arab Chamber of Commerce: Bilateral Model Arab League ConferenceUniversity of Houston713-568-8473

FEBRUARY 19TH11:00 AMGerman American Chamber of Commerce South Houston: Houston Keynote Luncheon—TTIP & Transatlantic Economic ForecastFederal Reserve Banksjehlitschka@gaccsouth.com

FEBRUARY 20TH 11:15 AMDanish-American Chamber of Commerce: Luncheon with speaker Laurie S. Fulton, former US ambassador to DenmarkHilton Americas Hotel713-620-4200

FEBRUARY 21ST8:45 AMColombia Texas Chamber of Commerce: Palermo Free Trade Zone as Industrial and Logistics Platform for the Oil and Gas Industry.Federal Reserve Bank Houston Branch713-9621014

FEBRUARY 22ND2:00 PMIndo-American Chamber of Commerce: American Tax Laws As Applicable to NRIs and Overview of 2014 ChangesIndia Housersvp@iaccgh.com

FEBRUARY 27TH 7:30 AMHouston Hispanic Chamber of Commerce: Networking and Business Development BreakfastFederal Reserve Bank713-644-7070