This type of property no luck, since the development of human society required a mass conversion to form "composite work" in the words of Karl Marx. One of them was capitalism, others – socialism. The question of transition small producers directly to socialism still remains controversial in science, but it is obvious that the decisive argument in favor of such a transition can only be economic arguments – an advantage in pace improve productivity in the first place. At first glance it may seem that it is only the replacement of labels: "row" to "property", etc. The real question is much more serious, might not require a change of label, and shift in emphasis, and this implies, and a very important practical consequences. First of all, avoiding the use of concepts of individual and collective property rights in cases where it actually exists (Earth – in the possession and use of the collective farms, apartments – in the possession and use of citizens, etc.), we eliminate the legal basis for imposing liability for the safety of public property to owning and using them to private individuals – ie, the pin losses from property damage caused by it to the state as a whole, thus violating his rights as the ultimate owner of all means of production in socialist society. If, however, recognize that the means of production and other assets are transferred to producers in the operational ownership under the guarantee of their full responsibility to society as a whole, the charge compensation of possible damage immediately and definitely will be assigned to producers – up to research from the loss of their personal income and property.
In the closed real estate investor invests in real estate are managed mostly as a limited liability limited partnership (GmbH & Co. KG) designed. As a rule, These are commercial properties, such as office or retail logistics as well as residential properties in Germany and abroad. The investor is thus co-owners, entrepreneurs, therefore, with all the risks but also all the opportunities of the market. The properties are presented in a prospectus, which allows investors, as opposed to the open real estate funds, a transparent investment decision. For achievement of the planned investment of participation, for example, the purchase prices of the homes, the placement period is over, it means no further funds shall be solicited and accepted no other investors. The investment is fully or placed with. When investing in foreign real estate funds on a foreign legal forms can also be used.
Preferably, here are USA, Canada, UK, Netherlands, Austria, France, Czech Republic and Australia. The investor becomes a partner in the limited partnership that is a limited partner, his risk is limited to the deposit paid. The investor, however, has no right to return the shares and payout. This is promoted within the Company by a shareholder resolution. Meanwhile, investors can sell your shares on the secondary market to other investors or underwriters or during the scheduled period again.
But there is no guarantee. The price depends on supply and demand. In closed foreign real estate investor will generally benefited from various tax incentives by the so-called double taxation agreements (DTAs), which allow the German investors a favorable tax investment in the country. Closed-end funds are not regulated by law, however, it is since the first July 2005 by the BFin an examination of the prospectuses required. There are a number of banking firms (providers), in the various sectors (real estate, ships, etc.) are active are. In recent years, in addition to greater regulation of the market, concentration of revenues to fund initiators and financially sound companies with a banking background is observed. Parallel to this development, the law, the conditions and guarantees for such partnerships has always clarified and expanded. Essential part of the fund’s prospectus (prospectus) is. If the minimum requirements for the content and the creation of such a prospectus is not met, is it contrary to the corporate structure of limited liability, the personal liability of the initiators. Roughly, the legal consequence that the founders are liable with their private assets for damage caused. These changes were made necessary after more investors have been harmed by closed real estate funds. Often such structures were used for loss allocation societies. This was the main interest in it, through the personal tax burden of the loss allocation reduce investors. A loss is achieved either by credit or high interest investment depreciation. The yield is therefore mainly in the saving of tax. This, in turn, the system was only relevant for top earners. The legislature has closed this loophole, however, so that the form of investment to be seen primarily as a profit-oriented. Each year, the Germans invested several billion euros in closed real estate funds. This makes it the most popular area of the closed holdings. These figures demonstrate the enormous economic importance of this form of investment and the increasing acceptance, especially from institutions and private investors.
Banking institutions in order to minimize its risk in the early months of the crisis have been forced to change the terms of lending. Were significantly increased dimensions of the initial contribution (up to 30% -50%) and interest rates mortgages for apartments in Moscow, in addition, banks have to lend 50% -70 -% of the price, not the 90% -100%, as before. This led to the fact that the number of families that can afford Mortgages, declined sharply, despite the fact that the cost of apartments in Moscow for the last year has not changed. According to the Central Bank, the credit system of buying property in Moscow for the first five months of the current the year 2741 took the buyer (the total loan amount – 7.3 billion rubles). Expert on growth strategy may find this interesting as well. Whereas in the past year, almost the same number of credits – 2176 – been issued monthly. It makes sense to take the credit if the dwelling is not acquired for the purpose resale, and to stay, given the fact that potential buyers are able to accumulate the amount of several million rubles for a down payment. On the background of the fallen of income for most Russians Mortgage lending can hardly be considered the best option of buying an apartment in Moscow. The reality is that to issue a mortgage loan today can be a family, the monthly gross income that is not less than 150,000 rubles, and at the same solvent family members believe that in the future of their revenues dwindle..