Philip Weiser was hosted by Haute Media Group Cofounder Seth Semilof. Watch their conversation below.

The topics included Philip Weiser’s illustrious career from working in the hotel industry abroad, joining the highly esteemed Carlton International team, and his eventual ascendancy in French and international luxury real estate.

Philip Weiser has worked within the luxury hotel and hospitality industry for decades in London before transitioning to real estate when he and his young family settled in France. Weiser has held his French real estate license for over 40 years and assisted hundreds of buyers and sellers in the sale and acquisition of luxury homes and villas throughout the French Riviera. Launching Carlton International in 1995, the first of the Carlton International brands, Weiser and the Carlton International team collectively speak 14 languages to cater to an international clientele as a leading estate agent on the Cote d'Azur.

Here are some of the questions and answers from the exclusive interview with Weiser.

Seth Semilof: What made you think of moving to France and getting into real estate? Did you move to France first to do hotels, and then do real estate?

Philip Weiser: Not at all. My pre-Airbnb adventure was very successful. I sold the business and decided that I would move my family into a more international environment in the south of France where we have a good selection of schools with the English language. I was on a trip from Paris to Nice international airport and I sat next to a property developer who had opened the state agency in the town where I was living, and he was about to close the agency. Since I had nothing to do, I said, “I will be happy to see if I can make your agency run.” The Monday following, he forgot it, but he was as good as his word. He took me across the road, introduced me to my new boss, and suddenly I was a real estate. That was in 1982.

SS: Tell us how the business evolved from 1982. Where did you go from there?

PW: We were very successful as brokers as well buying, selling, renovating, and constructing. A lot of money was made at that time and I reinvested all the resources into other projects. The banks were throwing money at this time and in 1992, there was the first Gulf War when Iraq invaded Kuwait. Property prices around the world were heavily affected by that. In Europe, especially because we are closer to North Africa, prices dropped by 50% and interest rates were at 18.6%. I had 50% borrowings and 50% cash, but my properties all lost value of 50%, so I lost everything. It was the end of a glorious 10-year adventure.

SS: How is the real estate changed over the last 20 years? Are people building contemporary homes in the south of France?

PW: The architecture is sort of Mediterranean, with a lot of bay windows and tiled rooms like you have in California. That was the staple that together with traditional homes in the area are the two trends, but in the last five years, the word contemporary has become part of the local architecture dictionary. We never spoke of contemporary architecture. It was modern, but it was never contemporary. Now, we have some magnificent contemporary homes. It is very much the trend today. We must have, at least right now, 10 potential buyers looking for land to build a contemporary home or readymade contemporary homes designed by a local architect they can move straight into. There are very few standardized materials, so the cost of construction in spite of that it is clean, nice, and easy is that it is an expensive item here.

SS: What advice would you give to somebody getting into real estate to be successful?

PW: First is never believe anybody until you have proof of what they are saying is correct whether it is a buyer, seller, colleagues, or other brokers. The second is you need resilience because you have to have face the fact that you cannot win them all. The other self-discipline is being able to get up in the morning, go out, do the job, and stick with it. There is no day off. The last one is that when you are successful, do not spend the money. You may be successful this time. Ultimately, I tell everybody, you cannot sell a house. There are no sales in this job. It is understanding the needs of the buyer.

SS: Do you think your experience, training, and education in the hotel industry is what made you successful? Did you bring that to your real estate company?

PW: Certainly, that aspect played a very important role. A hotel is like a small town. You have lots of people of different nationalities and different characteristics. If you are managing, you have to move the people and the visitors first, not just the staff. All these people have their specific needs, their behaviors, and the way in which they react. If you go to have any peace and quiet managing, I will tell you to have to manage the staff and the guests with a lot of psychology, understanding, and great service.

For more information, please contact Philip Weiser at +33 6 14 34 13 14 or info@carlton-group.com

To watch more real estate webinars curated by Haute Residence, visit http://dev.hauteresidence.com.

The post Chat With Haute Residence Leaders, Episode 12: Philip Weiser appeared first on Haute Residence by Haute Living.

The city, which sits on an archipelago in the Persian Gulf, off the coast of the Arabian Peninsula is made up of 80 percent expats for a reason — low taxes, or rather no taxes. Foreigners, reflected in the city’s cultural diversity, pay no income, capital gains or inheritance tax. For Brits, there’s an added bonus: a tax treaty signed between the UAE and the UK in 2016 means that UK pension holders over the age of 55 living in the Emirates can withdraw their entire pension tax free providing they have living in the UAE for at least 5 full tax years.

This has caused a boom in wealthy foreigners looking to call the place home and keep their tax dollars/pounds in their bank accounts. Property broker JLL estimates that as many as 34,000 homes could be completed in 2018 with another 28,000 due in 2019.

 Much of the exuberance is due to Expo 2020, a global destination for new ideas and innovation (business, transport, sustainability). A world expo happens once every 5 years and lasts for 6 months. An expected $8 billion is being spent on Expo related projects driving a infrastructure boom, with $2bn-$4bn invested in developing the Expo site. The event is expected to attract up to 300,000 visitors a day when it opens. Standard Chartered, the international bank, has predicted it will also create around 300,000 new jobs and attract new residents in the emirate city, which currently has a population of three million.

"Expo2020 will undoubtedly increase global interest in the UAE, with the eyes of the world focusing again on the incredible development of the country," said Andrew Cummings, co-founder and managing director of LuxuryProperty.com.

Whether the Expo has a long-term effect on real estate values and investment, however, remains to be seen. If the last few Olympics are anything to go by, it’s effects at the residential end tend to be short-lived. 

Of greater appeal to wealthy expats looking to call the UAE a second or even first home is the climate. It’s built on a desert so it never rains, which is good and bad. Bad for natural vegetation and water supply, good for getting a tan. To quote the Financial Times, “at just 75mm, the average annual rainfall in the desert would barely fill a coffee mug.” Winters are warm but summers are blistering meaning long months inside air-conditioned buildings is a must.

Luxury condo residences tend to be within larger business and retail centers such as the popular condos offered at the Four Seasons Hotel Abu Dhabi, (still under construction) within the Al Maryah Island development. Online searching showed a number of new single family homes priced with the $5 million to $20 million range. At the private Zaya Nurai Island, modern upscale residences, such as the Water Villa, offer a lifestyle that exemplifies the pinnacle of real estate here.

With prices in the UAE recently edging up and the the area making great strides to establish cultural attractions such as the Louvre Abu Dhabi, the largest art museum on the Arabian peninsula and a sister to the Parisian landmark, which recently opened its doors, real estate professionals are feeling confident about the city’s lure to investors.

Golf enthusiasts have their choice of three pristine championship courses carved out of the peninsula’s sand dunes: Abu Dhabi Golf Club, Saadiyat Beach Golf Club and Yas Links Abu Dhabi. Soccer is also extremely popular in Abu Dhabi with a number to professional teams playing in newly built stadiums and top European clubs starting soccer schools in the area for young players. Buoying this is a new U.A.E. backed program offering potential buyers the opportunity to extend their visa by 10 years with a property purchase, which could have a huge impact driving sales and rental prices upward.

"Whilst we anticipate an increase in interest in real estate, the real boost to the sector will come [...] from the governments recently announced changes to regulations that will permit 10-year investor visas and 100% foreign ownership of companies" said Cummings. "We have already seen an uptick of interest in the market since the announcement and expect this to increase as implementation of the regulations come into effect."

For real estate opportunities in UAE, contact Haute Residence partner Andrew Cummings of LuxuryProperty.com.

The post Why Luxury Abu Dhabi Real Estate Is A Magnet For Foreign Investors appeared first on Haute Residence by Haute Living.