Rent, buy or… build?!

Here’s a first comparison, how does renting and buying differ in principle? After that, we jump to buy or build.

Yield real estate

At what point is it worth buying an apartment as an investment?

Calculate yield quickly in just a few steps

What does a house / new building cost?

What does a house / new building cost? These are the costs you will have to reckon with when financing a property.

Costs: Checklist for house construction

What do you need to consider if you want to keep an eye on your tree costs? Here’s a good checklist with all the important steps. In a nutshell, here’s what’s in store for you:

1. New building plot
2. Building costs fixed price
3. Offer construction company
4. Building contract
5. Building with architect
6. House building costs
7. Incidental building costs
8. House building planning

Here you can find the checklist for house construction: Checklists (external).

How much did it really cost?

https://www.youtube.com/watch?v=LYKmmmxs_6c

How much house can you afford?

Alternative: Buy an apartment and rent it out

An alternative to direct new construction: Start with owner-occupation! This brings you several advantages. For example, banks do not set such high criteria for owner-occupied properties as they do for investment properties. With owner-occupiers, they also like to turn a blind eye to equity and monthly income. If you then move out after a year or two and rent the apartment, then that’s your business and no problem at all.

• Buy and rent an apartment (external)

Buying a house: Tips, experiences and mistakes

Incidental building costs

https://www.youtube.com/watch?v=G_R9luCYi_I

Building vs prefabricated house: 10 biggest mistakes

Apartment building: live and rent

The effective interest rate on mortgage loans (construction interest rate) has dropped -6.4% from 1994 to 2018 (last survey) to just 1.4%. Convinced to buy? Construction interest rates have been at rock bottom for several years. It’s worth comparing construction rates because: How long will it stay like this? Many of our customers approach us with the question and would like to know whether it is worth waiting or whether the construction interest rates will rise again in the future. The construction interest rates do not only stand for themselves, but significantly influence the mortgage rates. In our consultation you will find out quickly and reliably when and how you can best finance and secure the favourable construction interest rates for multi-family houses.

• Build or buy a multi-family house? (external)

House forms at a glance: List

In the real estate market, there are a lot of different types of construction. Both in the field of apartment and houses, there are many forms and types according to which a property is designed. These are divided into different formats. We have clearly listed some of the most common house and apartment types for you here. You can find more information about the respective property type in the corresponding article by clicking on the corresponding link.

Overview of house types: from bungalow to country house to prefabricated house

Here you will find a list with an overview of all common house types. The linked article provides you with more information about the respective house form, introduces you to characteristics and definitions and you also learn which house type is suitable for whom and why. In addition, we introduce you to the advantages and disadvantages of the respective house form in the associated articles.

• Bungalow
• Semi-detached house
• Single-family house
• Half-timbered house
• Holiday home / weekend house
• Beach house
• Prefabricated house
• Country house
• Massive house
• Terraced house
• Villa
• Low-energy house
• Zero-energy house
• Passive House

Source: Construction Global

Abraj Al Bait, Mecca – $15 billion

The Abraj Al Bait is the most expensive hotel ever built! Facts about the Abraj Al Bait, Mecca:

• Name: Abraj Al Bait
• Location: Mecca
• Country: Saudi Arabia
• Construction costs: 15 billion US dollars
• Height: 601 meters
• Floor space: 1.5 million square meters
• Capacity: 100.00 persons
• Highest hotel in the world
• Design and draft: Dar Al-Handasah, Lebanese architectural group

The Abraj Al Bait in Mecca is with a total height of 601 meters, the highest hotel in the world. The hotel has a floor space of 1,500,000 square meters. It can accommodate 100,000 people.

The complex, also known as Makkah Royal Clock Tower, was designed by the Lebanese architectural group Dar Al-Handasah and has the highest and largest clock in the world.

The clock in the Makkah Royal Clock Tower is 530 meters high and has a diameter of 43 meters. This means that the clock can be seen from a distance of more than 30 km, in optimal weather conditions.

Marina Bay Sands, Marina Bay –

Marina Bay Sands is the most expensive resort ever built! Facts about Marina Bay Sands, Marina Bay:

• Name: Marina Bay Sands
• Location: Marina Bay
• Country: Singapore
• Construction costs: 5.50 billion US dollars

Everybody knows this extraordinary building of Singapore. With construction costs of 5.50 billion US dollars, Marina Bay Sans is the most expensive resort ever built in the centre of Singapore.

The architecture and design of the resort was also approved by Feng Shui consultants. Ssangyong Engineering and Construction Contractors were responsible for the construction work, based on a design by Moshe Safdie.

The highlight of this structure is that it consists of three interconnected towers. The structure has 55 floors and also includes the most expensive free-standing casino in the world. Construction work on this 5.50 billion US dollar building was completed in 2010, one year later than planned. Material costs were always higher than previously calculated, and there was also a shortage of manpower to complete it.

Resorts World Sentosa, Singapore – $4.93 billion

The Resorts World Sentosa consists of hotels, a large casino and the largest oceanarium in the world. Facts about Resorts World Sentosa:

• Name: Resorts World Sentosa
• Location: Singapore
• Country: Singapore
• Construction costs: 4.93 billion US dollars
• Hotels, Casino and Entertainment
• Oceanarium with over 100,000 animals

The Resorts World Sentosa was built by the Malaysian conglomerate Genting Group.

There are various uses for the building. The Resorts World Sentosa project consists of hotels, a casino and a number of entertainment attractions. The entertainment program includes, for example, the Universal Studios theme park.

But there is more than hotels, casinos and an extensive entertainment program. The Resorts World Sentosa also houses an integrated oceanarium with an area of 20 hectares, or 200,000 square meters. Here you will find over 100,000 animals, more than 800 species. This makes the integrated oceanarium the largest in the world.

Although the first construction work at Resorts World Sentosa was completed in 2009, it has continued to expand, including the addition of the Marine Life Park in November 2012.

Emirates Palace, Abu Dhabi – $3.9 billion

• Facts about the Emirates Palace, Abu Dhabi:
• Name: Emirates Palace
• Location: Abu Dhabi
• Country: United Arab Emirates
• Construction costs: 3.90 billion US dollars
• Over 100,000 m³ of marble from 13 lengths
• More than 1000 Swarovski crystal chandeliers

The Emirates Palace is more than just a building, it serves mainly for representative ticks. Opened in 2005 and designed by British architect John Elliot, the seven-star Emirates Palace in Abu Dhabi serves as the official guest palace of the government of Abu Dhabi.

The building covers a total of 850,000 square meters. The palace, which was built especially for the presentation of Arab culture and also for the luxurious accommodation of guests, is said to contain over 100,000 cubic meters of marble. Thirteen different types of marble from Italy, Spain, China and India as well as over 1000 Swarovski crystal chandeliers.

Cosmopolitan of Las Vegas, Las Vegas – $3.9 bn

The Cosmopolitan of Las Vegas offers a special highlight, if you bet $1 million in the casino you can stay in a penthouse suite designed by Daun Curry! Facts about the Cosmopolitan of Las Vegas:

• Name: Cosmopolitan of Las Vegas
• Location: Las Vegas
• Country: USA
• Construction costs: $3.90 billion US
• Two towers with 184 meters each

The Cosmopolitan of Las Vegas is a luxurious casino and hotel resort on the Las Vegas Strip, consisting of two 184-meter high skyscrapers. Despite its prime location and eligibility to gamble, the resort is still considered a financial failure after its original bankruptcy in 2008.

Built by Deutsche Bank (Bankgesellschaft), it was later sold to the New York-based Blackstone Group Corporation for $1.73 billion, less than half the original construction price of $3.90 billion! Tourists in Las Vegas do not mind that.

In the video you can see one of the ultra-exclusive Daun Curry-designed penthouse suites at the Cosmopolitan of Las Vegas, located in the heart of the world-famous Las Vegas Strip. How to get into the suite? You must bet over $1 million in the casino!

One World Trade Centre, New York – $3.8 billion

A building with a great history. Facts about One World Trade Centre, New York:

• Name: One World Trade Centre
• Location: New York
• Country: USA
• Construction costs: 3.80 billion US dollars
• Area: 325,279 m²

The One World Trade Centre in New York City, commonly known as the “Freedom Tower”. The building was completed in 2013. The steel and concrete framework was designed by architect David Childs. It comprises 325,279 square meters of space, including 55,000 square meters of retail space in addition to office space alone.

The One World Trade Centre replaces the twin tower of the original World Trade Centre. The two towers collapsed due to the 9/11 attack. The One World Trade Centre is thus much more than just a building. The Hochaus is a real industrial centre. It is connected to 11 New York subways. People work on 71 floors, each housing office space.

Wynn Resort, Las Vegas – $2.70 billion.

Facts about the Wynn Resort, Las Vegas:

• Name: Wynn Resort
• Location: Las Vegas
• Country: USA
• Construction costs: 2.70 billion US dollars

The Wynn Resort in Las Vegas is the sixth largest hotel in the world. Named after casino developer Steve Wynn, the resort has won several awards. These include the five-star AAA rating, plus five stars from Mobil, Forbes five-stars and Michelin five-stars – if that isn’t a statement!

The Wynn also boasts several of the resort’s “Firsts”, such as the first casino in Las Vegas with an exclusive car dealership, dotted with Ferrari and Lamborghini as well as the first combination of room key and casino multiplayer card in a single card.

The building cost 2.70 billion US dollars. Construction was completed in 2005 and subsequently expanded by the 1.5 billion US dollar Wynn Paradise Park. The park comes with an additional hotel complex and a lagoon, covering an area of 141,640 square meters.

Venetian Macao, Macao – $2.4 billion

The Venetian Macau is the largest casino in the world. Facts about the Venetian Macau:

• Name: Venetian Macau
• Location: Macau
• Country: China
• Construction costs: 2.40 billion US dollars
• Largest casino in the world
• 7. largest building in the world
• Area: 550,000 square meters

Macao lies in the middle of a bay and is something like Tijuana (Mexico) for China for the USA and Mallorca (Spain) for the Germans. The Venetian Macau is the largest casino in the world. It is also the 7th largest building in the world.

The resort, which was officially opened on August 28, 2007, offers a casino with 3,400 slot machines, 800 gaming tables and a Cotai Arena with 15,000 seats for entertainment and sporting events on an area of 550,000 square meters.

The resort is known for luxury and exuberance, including its Presidente Paiza Suite designed by the renowned architectural firm Aedas and HKS, Inc.

City of Dreams, Macao – $2.4 billion

Facts about the City of Dreams, Macau:

• Name: City of Dreams
• Location: Macao
• Country: China
• Construction costs: 2.40 billion US dollars

The 2.40 billion US dollar City of Dreams is designed as a podium with four towers. A special architectural highlight. The building extends over 40 floors, offers 780 guest rooms, 200 shopping facilities and many hotels. Among them are the Crown Towes Hotel, the Hard Rock Hotel and the Grand Hyatt Macau, which alone extends over two towers.

Princess Tower, Dubai – $2.17 billion

The Princess Tower is the tallest residential building in the world. Facts about Princess Tower, Dubai:

• Name: Princess Tower
• Location: Dubai
• Country: United Arab Emirates
• Construction costs: 2.17 billion US dollars

Construction work on the Princess Tower, which is owned by Tameer Holding Investment, began in 2006 and was completed in July 2012. In May 2012, the 414-meter-high Princess Tower in Dubai will be the tallest residential building in the world according to Guinness World Records. After the infamous Burj Khalifa, it is the second tallest building in Dubai and has 763 residential units, including single, double and triple apartments, duplexes and high-quality penthouses.