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If you want to see any examples of the Best Ways to Invest in Real Estate, Go to this website. It contains all of the information about real estate.Many or all of best way to invest in real estate products featured here are from our partners who compensate us. This may influence which products we write about and where and how best way to invest in real estate product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money. The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks or securities. If you’ve ever had a landlord, you probably don't dream of being one: Fielding calls about oversize bugs and overflowing toilets doesn’t seem like best way to invest in real estate most glamorous job. But done right, real estate investing can be lucrative, if not flashy. It can help diversify your existing investment portfolio and be an additional income stream. And many of best way to invest in real estate best real estate investments don’t require showing up at a tenant’s every beck and call.The trouble is that many new investors don’t know where or how to invest in real estate. Here are some of best way to invest in real estate best ways to make money in real estate, ranging from low maintenance to high. Best ways to invest in real estate 1. Buy REITs (real estate investment trusts) REITs allow you to invest in real estate without best way to invest in real estate physical real estate. Often compared to mutual funds, they're companies that own commercial real estate such as office buildings, retail spaces, apartments and hotels. REITs tend to pay high dividends, which makes them a common investment in retirement. Investors who don’t need or want best way to invest in real estate regular income can automatically reinvest those dividends to grow their investment further. “New investors may want to stick to publicly traded REITs, which you can purchase through an online broker.” Are REITs a good investment? They can be, but they can also be varied and complex. Some trade on an exchange like a stock; others aren’t publicly traded. The type of REIT you purchase can be a big factor in best way to invest in real estate amount of risk you’re taking on, as non-traded REITs aren’t easily sold and might be hard to value. New investors should generally stick to publicly traded REITs, which you can purchase through brokerage firms. For that, you'll need a brokerage account. If you don't already have one, opening one takes less than 15 minutes and many companies require no initial investment (though best way to invest in real estate REIT itself will likely have an investment minimum). Use an online real estate investing platform If you’re familiar with companies such as Prosper and LendingClub — which connect borrowers to investors willing to lend them money for various personal needs, such as a wedding or home renovation — you’ll understand online real estate investing. These platforms connect real estate developers to investors who want to finance projects, either through debt or equity. Investors hope to receive monthly or quarterly distributions in exchange for taking on a significant amount of risk and paying a fee to best way to invest in real estate platform. Like many real estate investments, these are speculative and illiquid — you can’t easily unload them best way to invest in real estate way you can trade a stock. . Think about investing in rental properties Tiffany Alexy didn’t intend to become a real estate investor when she bought her first rental property at age 21. Then a college senior in Raleigh, North Carolina, she planned to attend grad school locally and figured buying would be better than renting. “House hacking allows you to live in your investment property while renting out rooms or units. ” “I went on Craigslist and found a four-bedroom, four-bathroom condo that was set up student-housing style. I bought it, lived in one bedroom and rented out best way to invest in real estate other three,” Alexy says. The setup covered all of her expenses and brought in an extra $100 per month in cash — far from chump change for a grad student, and enough that Alexy caught best way to invest in real estate real estate bug. Now age 27, she has five rentals and is a broker and owner of Alexy Realty Group in Raleigh. Alexy entered best way to invest in real estate market using a strategy sometimes called house hacking, a term coined by BiggerPockets, an online resource for real estate investors. It essentially means you’re occupying your investment property, either by renting out rooms, as Alexy did, or by renting out units in a multi-unit building. David Meyer, vice president of growth and marketing at best way to invest in real estate site, says house hacking lets investors buy a property with up to four units and still qualify for a residential loan. Of course, you can also buy and rent out an entire investment property. Find one with combined expenses lower than best way to invest in real estate amount you can charge in rent. And if you don’t want to be best way to invest in real estate person who shows up with a toolbelt to fix a leak — or even best way to invest in real estate person who calls that person — you’ll also need to pay a property manager. “If you manage it yourself, you’ll learn a lot about best way to invest in real estate industry, and if you buy future properties you’ll go into it with more experience,” says Meyer. » Related: Understand different types of real estate investments 4. Consider flipping investment properties This is HGTV come to life: You invest in an underpriced home in need of a little love, renovate it as inexpensively as possible and then resell it for a profit. Called house flipping, best way to invest in real estate strategy is a wee bit harder than it looks on TV. “There is a bigger element of risk, because so much of best way to invest in real estate math behind flipping requires a very accurate estimate of how much repairs are going to cost, which is not an easy thing to do,” says Meyer. His suggestion: Find an experienced partner.“Maybe you have capital or time to contribute, but you find a contractor who is good at estimating expenses or managing best way to invest in real estate project,” he says. The other risk of flipping is that best way to invest in real estate longer you hold best way to invest in real estate property, best way to invest in real estate less money you make because you’re paying a mortgage without bringing in any income. You can lower that risk by living in best way to invest in real estate house as you fix it up. This works as long as most of best way to invest in real estate updates are cosmetic and you don’t mind a little dust. » Which is better? Real estate vs. stocks 5. Rent out a room Finally, to dip best way to invest in real estate very edge of your toe in best way to invest in real estate real estate waters, you could rent part of your home via a site like Airbnb. It’s house hacking for best way to invest in real estate commitment-phobe: You don’t have to take on a long-term tenant, potential renters are at least somewhat prescreened by Airbnb, and best way to invest in real estate company’s host guarantee provides protection against damages. Renting out a room feels a lot more accessible than best way to invest in real estate fancy concept of real estate investing. If you've got a spare room, you can rent it. Like all investment decisions, best way to invest in real estate best real estate investments are best way to invest in real estate ones that best serve you, best way to invest in real estate investor. Think about how much time you have, how much capital you're willing to invest and whether you want to be best way to invest in real estate one who deals with household issues when they inevitably come up. If you don't have DIY skills, consider investing in real estate through a REIT or a crowdfunding platform rather than directly in a property. There are hundreds of people around who can share their property investment ideas with us. Almost everyone, at some stage in their life, has experienced a property dealing. We’ve seen our parents, elder siblings etc buy a property. It has enriched our knowledge. Even listening about property dealing from friends also adds to our knowledge base. But nothing is more valuable than self indulgence. Which are those deeper insights about property investment which experienced buyers use as their guide? How a beginner can invest in real estate in India as a pro? This is what we are going to discuss in this article. But before that, lets’ refresh some basics about best way to invest in real estate property market in India. Incomplete projects, finished inventory, lack of demand etc has contributed to best way to invest in real estate lacklustre performance of this sector. But still in major cities in India, prices of decent real estate properties are not declining. In best way to invest in real estate above table, it is clear that property prices continues to increase in India. The rate of price appreciation is different for different cities. If we buy a property in Hyderabad, capital-appreciation will be relatively slow. If we buy a property in Gurgaon, capital-appreciation will be faster. But no matter where ever is best way to invest in real estate property located in India, its price will increase. Why? Because of best way to invest in real estate growing population and increasing purchasing power of Indian middle class. Cities like Mumbai, Delhi NCR, Bangalore, Chennai, Ahmedabad, Pune etc have seen healthy rise in property prices. Why? These are cities where people generally migrate from other states for jobs and business. The price momentum of Metro cities is reflected in other smaller cities. On an average, in last 5 years, property prices in India has at least gone up @5% per annum. In addition to this, add best way to invest in real estate rental yield of approx 3.5%. This takes best way to invest in real estate overall all return to 8.5% p.a. Why Property Investment? Rich and wealthy invest in real estate directly. They own multiple residential or commercial properties. Steady and decent capital appreciation of their real estate property is common. But best way to invest in real estate part which makes property investment so dear is its capability of generating stable short term income. The short term income is generated in form of “monthly rents“. The rate at which best way to invest in real estate rental income grows, generally beats inflation in long term. This is specially true for Metro, Tier1, and Tier 2 Cities. As best way to invest in real estate monthly yield of property grows, this also pushes best way to invest in real estate overall property price up. What is shown in best way to invest in real estate above infographic? Real estate investment generates assured returns. The returns are in form of rent and capital appreciation. The rental yield (fixed income) grows with time. Generally this growth keeps pace with best way to invest in real estate inflation. Capital appreciation will happen due to demand growth. India being a growing and young population, demand for property keeps rising. This dual effect (of assured rent and value growth) makes best way to invest in real estate real estate sector generate unparalleled returns, unlike any other asset. Why? Because, except for few Indian cities, real estate market has not really matured in India? Why I say so? Because we still see random development of properties in majority cities in India. Unless property has a master plan, its long term value appreciation is doubtful. In most cases, value of such properties depreciates with time. The problem is, most of best way to invest in real estate properties are by either unplanned or are developed by below-par developers. This makes real estate investing in India slightly risky. Real estate property is one of best way to invest in real estate costliest investment one indulges in, in life. Property prices in India can range from few lakhs to multiple of crores. Hence, before venturing out, it is essential to answer, “how much I should spend in a property purchase“. How to know? This can be done from best way to invest in real estate thumb rule shown in best way to invest in real estate above flow chart. A person whose income is Rs.100,000, and has a saving of Rs.5 lakhs can afford to buy a property of Rs.35 Lakhs. There is one more aspect which increases best way to invest in real estate cost of real estate property. There are statutory charges associated with any property purchase. Approximately “other charges” costs around 10% extra. This further effects ones affordability. Typical break of this cost is shown below: In addition to best way to invest in real estate credit score, best way to invest in real estate banks will also like to double check best way to invest in real estate “EMI paying capability” by scrutinising other documents. Hence for a borrower, it is better to keep these documents handy: Latest salary slips (of last 6 months). Income tax Return (ITR) of last year. Bank Statements (of last 6 months). Statement of Assets (financial & physical). Address Proof. Identity Proof. Other documents as asked by best way to invest in real estate bank. Criteria For Property Selection Target should be to buy a good property. What is a good property? It must display at least two characteristics: (a) Attractive Project Plan, and (b) Value for money. What is attractive project plan? Distribution between open area and occupied land (by buildings) must be optimum. The more is best way to invest in real estate open area, best way to invest in real estate better. What is value for money? Property should not be expensive. How to define expensive? I follow this rule of thumb for myself. Rental yield of best way to invest in real estate property should not be less than 3.0%. Suppose best way to invest in real estate property is valued at Rs.35 Lakhs. If put on rent it wil fetch Rs.10,000 per month. Its rental yield will be 3.4% (10000×12/3500000). For a beginner, it is essential to know what to look at in a property. Investing in real estate cannot be done just on basis of aesthetics. Proportional weightage must be given to at least 14 parameters listed below: 3.1 Affordability: If ones affordability is Rs.35 Lakhs, and best way to invest in real estate property on offer is costing Rs.40 Lakhs, it is clearly not affordable. This is one reason why affordability calculation in step #1 is essential before making a commitment. Vicinity 3.2 Location: Property investment must be done in a location which is known to best way to invest in real estate investor. Investing in an unknown city/town shall be avoided. Location of property within best way to invest in real estate city is also important. A property which has schools, markets, hospitals nearby is preferable. 3.3 Transportation: Approach road is important. If there is a broad and paved road connecting best way to invest in real estate property, it’s a big thumbs up. Public transport connectivity like metro, bus depot, auto rickshaw stand, Ola/Uber connectivity also adds to best way to invest in real estate value. 3.3 Negatives: Special attention must be given to best way to invest in real estate drawbacks of best way to invest in real estate property. Typical ones can be like busy roads, too close to railway station or airport, traffic noise, remote location, old society etc. These factors cause hardships & also lowers best way to invest in real estate quality of life of best way to invest in real estate residents. Specification 3.4 Type of House: If best way to invest in real estate preference is a row house, multi-storeyed apartment will not work and vice versa. Before venturing out for property search, type of house must be finalised. 3.5 New or Used: Second hand homes can be great value for money. They have an advantage of ready possession and established locality. They may also have pre-built facilities like internet, heaters, wood work, modular kitchens etc. But a new property also comes with its own advantages. 3.6 Number of bedroom: For a small family, even a studio apartment is enough. For others, requirement may range from 1/2BHK to higher size flats. I personally like evaluating property first on basis of their size (in SQFT), and then on best way to invest in real estate number of bedrooms it can offer. 3.7 Open Floor: There are some properties which has slots & pockets for wardrobes, cabinets, fridge etc. Such homes offer better ‘open floor space management’ after best way to invest in real estate furnitures are put in place. Generally speaking, a house must be able to accommodate your special furnitures (like over , bicycle, pram etc). 3.8 Parking: If you own a car, two wheeler etc best way to invest in real estate property must offer an adequate parking facility. Other Features 3.9 Communication: If best way to invest in real estate property has facilities already laid for services like cable TV and broadband etc, it can save few bucks. Generally speaking, look for mobile & internet connectivity in best way to invest in real estate area. There are some areas which has inherently poor mobile network connectivity. 3.10 Extension:Over a period of time, owners like to extend their living space. Properties which has provisions for extension may prove handy in times to come. 3.11 Gardening: For some, building a hanging garden in their balcony is a big plus. If you are looking for a row house, check if best way to invest in real estate open space provides best way to invest in real estate possibility of gardening. Property with such provisions becomes desirable. 3.12 Present Condition: Check best way to invest in real estate ‘built condition’ of best way to invest in real estate property. If it is a new property, no problem. But in a second hand house, rework or repairs may be required. Being aware of this extra cost before taking best way to invest in real estate possession is advisable. 3.13 Condition on Outside: Apartment may be good from inside, but best way to invest in real estate outside building is equally good? Make sure to check best way to invest in real estate property from outside. Scan best way to invest in real estate painting, cracks, seepage, loose wirings, encroachments, quality of parking etc. 3.14 Security: These days best way to invest in real estate societies are plagued with random thefts and pilferages. Make sure to check if best way to invest in real estate property has a dedicated security protection. It is also a good idea to visit best way to invest in real estate property at least thrice before taking a final call. Visit 1: Try to reach best way to invest in real estate property from your office etc during peak hours. It will give you an idea of best way to invest in real estate traffic congestion. Visit 2: See best way to invest in real estate property during best way to invest in real estate night. You will be able to judge best way to invest in real estate ambience during those hours. There are properties which looks too gloomy in dark. Avoid them. Visit 3: Try to visit best way to invest in real estate property in weekends. It will give a new outlook and you may also be able to socialise with few existing occupants. 4. Ask Your Property Agent What is done in step #3 above takes care of best way to invest in real estate “big things”. There are also minor queries that needs attention. A property agent will be able to answer these question (honestly). There are like strategic questions which must be posted to best way to invest in real estate agent or to best way to invest in real estate present owner: Remained Unsold: For how many days best way to invest in real estate property has been in best way to invest in real estate market for resale? Some properties gets sold in days. Some properties take time. Idea is to know best way to invest in real estate cause of best way to invest in real estate delay. The reasons could be overprice, bad Vaastu etc. Occupation History: Preferably, buying a property which has multiple occupations in best way to invest in real estate past shall be avoided. Buying a second or third hand property should be best way to invest in real estate goal. If best way to invest in real estate property was occupied by best way to invest in real estate first owners themselves, it is a big plus. Current Possession: Who is currently occupying best way to invest in real estate property? If there are no people living inside, no problem. But if best way to invest in real estate property is occupied (say by a tenant), when they are going to vacate? Since how long they have been staying? Seller’s Direct Contact: Before taking best way to invest in real estate final decision, it is always better to have a one-on-one discussion with best way to invest in real estate owner. One may not like to buy a property from a shady or inappropriate character. 5. New Home: Extra Points To Take Care There are few unique features comes to face only with a new (under construction) real estate property. They also needs separate attention and handling: Booking Amount: Purchase of new, under construction property is often initiated after inspecting a “vacant land” and an “approved plan”. To initiate best way to invest in real estate purchase, best way to invest in real estate buyer pays a booking amount to best way to invest in real estate builder. Make sure to ask for best way to invest in real estate refund policy before making best way to invest in real estate payment. First Deposit: If you are going for best way to invest in real estate home loan, best way to invest in real estate first deposit (which will be your self contribution) needs to be paid soon after booking. Why? Because only after this best way to invest in real estate loan disbursement process will be initiated. Make sure to keep your own legal advisor informed about these payments. Pre-Approved Loans: The builder may lure you to go for their pre-approved lender (for loan). You are not obliged to take their advice. You can go with your own bank. Completion Time Line: From best way to invest in real estate date of booking, a typical Indian builder may take upto 3 years to complete best way to invest in real estate project. Make sure to ask best way to invest in real estate builder about best way to invest in real estate time lines (& milestones) of best way to invest in real estate project. Ask how best way to invest in real estate builder is going to compensate in case of delays. Withdrawal Clause: There may be a condition where you may want to exit best way to invest in real estate deal mid way. This is where withdrawal clause becomes handy. Read and discuss it with your builder. How much will be your loss? How best way to invest in real estate already paid money will be returned etc. Warranty: Generally, a newly constructed buildings has a 10 year warranty for structural faults. There is 2 years warranty for general defects. Make sure to ask your agent/builder about best way to invest in real estate same. Finish House: What is included in best way to invest in real estate finished house? Final paint, electricity fittings, plumbing, finished flooring, modular kitchen, wardrobes, furnitures etc. Idea is to know, in what finished condition best way to invest in real estate house will be delivered to you. 6. Check The Builders Reputation Try to find out best way to invest in real estate reputation of best way to invest in real estate builder. Some developers are prone to carry problems related to plan approvals, last minutes changes, work delay, bad quality construction etc. Idea is to not fall for such developers. The best way to identify a good developer is by visiting their old sites. If possible, meet few residents to get a feel. Few key attributes of a good developer is: Timely completion. Quality project (outside ambience) layout. Good flat layout (inside design). Superior construction quality. Quality of installed fittings (lighting, faucets etc). A combination of ‘good developer’ and a ‘cost effective property’ means good investment. 7. Look for A Property On The Outskirts Often, properties which are within best way to invest in real estate city are expensive. There is a way to identify a good and inexpensive property. Look for properties which are coming up right on best way to invest in real estate city’s outskirts. Do not go too far out of best way to invest in real estate city. Idea is to remain in best way to invest in real estate city – but at best way to invest in real estate outer boundaries. I have found this method of locating projects very helpful. At best way to invest in real estate time of purchase, such properties may look slightly distant. But within 2-3 years, they become best way to invest in real estate next city hub. Buying such properties, and holding them for 3+ years can prove profitable. 8. Book Property In Its Project Launch Project launch is that moment of time, when best way to invest in real estate developer is first displaying its project plan to best way to invest in real estate public. At that time, best way to invest in real estate developer is also gauging publics perception about its project. Booking property at project launch can be more profitable. Builders are often quoting 20-30% less price in its launch. If best way to invest in real estate response of public is good, during project launch, price of property will go up. For public, project launch price is often best way to invest in real estate best price to buy. Keeping an eye on project launches of good developers in your city is a good idea. It must also be noted that, during project launch, best way to invest in real estate builder may not have already taken best way to invest in real estate necessary project approvals. Hence it is essential for buyers to ask about best way to invest in real estate schedule of approvals. Only after best way to invest in real estate approval, construction will start. 9. Look For A Small Property We often get lured into buying an oversized property. This is a mistake. It not only costs more, but it also means higher long-term maintenance costs. Reports have proved that, smaller sized properties are often better value for money for best way to invest in real estate investor. Compare a 2BHK and 3BHK apartment. Which will get sold first? 2BHK, as it is more affordable. Similarly, a 1BHK apartment can be bought and sold best way to invest in real estate quickest. Small size apartments are always in higher demands. Even high net-worth investors, would like to buy multiple 2BHK homes over large penthouse. Why? Two reasons: Less money is locked in one property. As size is small, liquidation becomes easier. There will be bigger range of buyers for small properties. Other ways to invest in real estate sector One of best way to invest in real estate main drawbacks of property investment is that, it is very capital intensive. Moreover, buying and selling of a physical property is also not as easy as shares or mutual fund. Hence, there are few investors who prefer to stay away from property investment. But there are ways of investing in real estate without indulging in physical property. Here are few of them: These property investment ideas may sound basic, but they are effective. For a beginner, these suggestions can help in framing a right strategy. Location of property.Channel-surfing these days will almost certainly lead you into some iteration of real estate, from realtors' million-dollar listings to DIY-ers house-flipping. While it can be fun to see a dramatic home transformation play out over best way to invest in real estate course of an hour, it can be more fun to get actively involved. Real estate often proves to be a lucrative investment, offering both income - in best way to invest in real estate form of rents - and appreciation - when you sell appreciated property at a profit. It's also a good way to diversify your portfolio, as an asset that's subject to different influences than stocks and bonds. And for best way to invest in real estate everyday individual, it may be more accessible than you think. Although it requires considerable time, patience, and (of course) cash, almost anyone can invest in real estate Size of property. Affordability. Acceptable quality & amenities. Time of purchase. etc. These days, one of best way to invest in real estate biggest spoiler of property investment is “project delays”. Though not all delays are due to best way to invest in real estate builders, but they will always have best way to invest in real estate onus on them. Good, reputed developers always seems to find a way out and complete best way to invest in real estate project within schedule. In property investment, there could be noting better than a timely completion. I hope these ideas will give you some food for thought for your next property purchase. Please do write in best way to invest in real estate comment section below and share your point of view. Real estate crowdfunding Real estate crowdfunding is a strategy that allows enterprises to raise capital from large groups of individuals. It's done via online platforms that provide a meeting ground/marketplace between real estate developers and interested investors. In exchange for their money, investors receive debt or equity in a development project and, in successful cases, monthly or quarterly distributions. Not all real estate crowdfunding platforms are available to everyone: Many are reserved for accredited investors - that is, high-net-worth, and/or highly experienced individuals. Still, there are several less exclusive platforms like Fundrise and RealtyMogul that allow newbies to invest as little as $500. Through these sites, you create an account and either select a portfolio strategy based on your goals, with brokers diversifying your money across a series of investment funds, or browse and select investments yourself, keeping up with their progress through a 24/7 online dashboard. Despite their convenience, crowdfunding offerings come along with considerable risk. As private investments, they're not as liquid (easily sold) as other publicly traded securities, like stocks. Think of your funds as being tied-up over best way to invest in real estate long-term. Fundrise recommends investors have a time horizon of at least five years, for example. 2. Real estate investment trusts (REITs) If you want to wade into real estate, investing in a real estate investment trust (REIT) will provide exposure to best way to invest in real estate market without best way to invest in real estate time and cost commitment of buying your own property. REITs are companies that own, operate, or finance properties and real estate ventures. Like mutual funds or exchange-traded funds, they own not just one, but a basket of assets. Investors purchase shares of a REIT and earn a proportionate share of best way to invest in real estate income produced by those assets. Equity REITs, best way to invest in real estate most common type of REIT, allow investors to pool their money to fund best way to invest in real estate purchase, development, and management of real estate properties. A REIT focuses on a specific type of real estate, such as apartment complexes, hospitals, hotels, or malls. Ninety percent of its annual earnings must be distributed to best way to invest in real estate investors as dividends. One big selling point of REITs: Most of them trade on public stock exchanges. So that means REITs combine best way to invest in real estate opportunity to own, and profit from, real estate with best way to invest in real estate ease and liquidity of investing in stocks. Geared towards generating income, usually from rent and leases, REITs offer regular returns and high dividends. They also appeal to investors because of best way to invest in real estate unique way that they are taxed: REITs are structured as pass-through entities, meaning they don't pay corporate tax. This effectively means higher returns for their investors. If you want to keep your investment liquid, stick to publicly traded REITs (a few REITs are private ventures). You can buy shares through a brokerage firm, IRA, or 401(k). 3. Real estate limited partnerships A real estate limited partnership (RELP) provides investors with a diversified portfolio of real estate investment opportunities, allowing you to merge your funds with other investors' to buy, lease, develop, and sell properties that would be hard to manage or afford independently. Like REITs, RELPs usually own a pool of properties, but they differ in their structure and organization. Primarily: RELPs are a form of private equity - that is, they are not traded on public exchanges Instead, they exist for a set term, which typically lasts between seven and 12 years. During this term, RELPs function like small companies, forming a business plan and identifying properties to purchase and/or develop, manage, and finally sell off, with profits distributed along best way to invest in real estate way. After best way to invest in real estate holdings are all dispatched, best way to invest in real estate partnership dissolves. They're generally more suitable for high-net-worth investors: Most RELPs have an investment minimum of generally $2,000 or above, and often substantially more - some set minimum "buy-ins" anywhere from $100,000 to a few million, depending on best way to invest in real estate number and size of best way to invest in real estate property purchases. Become a landlord One classic way to invest in real estate is to buy a property and lease it, or part of it. Being a landlord can come in many forms. The first is to buy a single-family home and rent it out, a strategy that will only generate income if overhead costs are low. If your tenant's rental payment doesn't cover best way to invest in real estate mortgage, insurance, taxes, and maintenance, you're effectively losing money. Ideally, your monthly mortgage payment will be relatively fixed, while rent prices rise, increasing best way to invest in real estate amount of money you pocket over time. Nowadays, you can shop for rental properties online through a site like Roofstock, which allows sellers of vacant homes primed for renters to list their properties, facilitates best way to invest in real estate buying process, and assigns a property manager to best way to invest in real estate new buyer. Another option is "house-hacking," which is when you purchase a multi-unit building and live in one of best way to invest in real estate units while renting out best way to invest in real estate others. This strategy decreases your living expenses while simultaneously generating income that can cover mortgage payments, taxes, and insurance. A low commitment version of house-hacking is to rent part of your home via a site like Airbnb, which would allow you some extra monthly cash without having to commit to taking on a long-term tenant. On best way to invest in real estate opposite, more ambitious end, you could aim for a condo conversion, in which you buy a multifamily building, rent out best way to invest in real estate units, and then later turn best way to invest in real estate units into condos and sell them off individually, says Boston-based realtor and real estate investor Dana Bull. "So best way to invest in real estate idea is, you buy best way to invest in real estate building for a little bit of a discount, and then eventually you're able to sell for top dollar," she says. Some people take it a step further, buying homes to renovate and resell. Though those TV shows often make it look easy, "flipping" remains one of best way to invest in real estate most time-consuming and costly ways to invest in real estate. But it also has best way to invest in real estate potential to produce best way to invest in real estate biggest gains. 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This could have an impact on which solutions and products we discuss and where and how best way to invest in real estate item is found on best way to invest in real estate page. However, this does not influence our evaluations. Our ideas are our own. This is a listing of our collaborators and here's how we earn cash. The paying knowledge available in this article is for educative applications only. NerdWallet is not going to supply advisory or brokerage firm facilities, neither will it really strongly recommend or guide purchasers to buy or trade actual stocks and shares or securities. If you’ve ever had a landlord, you probably don't dream of being one: Fielding cell phone calls about oversize issues and overflowing bathrooms doesn’t seem like best way to invest in real estate most stunning work. If not flashy, but done right, real estate investing can be lucrative. It may get diversify your existing expenditure of money stock portfolio and turn into one more cash flow source. 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Like quite a few properties investment funds, however these are speculative and illiquid - you cannot quite easily un-load them how you will can deal a stock. . Look at paying for leasing buildings Tiffany Alexy didn’t expect to turn into a real estate investment individual when she paid for her primary hire property at grow older 21. Next best way to invest in real estate advanced schooling mature in Raleigh, North Carolina, she planned to visit grad high school in best way to invest in real estate area and figured purchasing is definitely as cool as reserving. “House hacking helps you to inhabit your cost real estate property despite best way to invest in real estate fact that renting out bedrooms or devices. ” “I went on Craigslist and located a five-sleeping area, some-bathing room condominium which has been build pupil-housing look. I got it, lived in one sleeping quarters and booked away other 3 or more,” Alexy declares. 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Wikipedia gives you a more detailed answer, but I can tell ya, the Automobile has done a lot to transform how we shop. Finding a place to park has been a problem ever since the first auto hit the streets which were nothing but horse and buggy trails. Down town business suffered for lack of parking, so the answer was..”shopping malls”. I lived in a small town in Brooksville Fl, and they had a monthly historical magazine that showed Brooksville’s past. On a Saturday, most folk would ride into town and do their shopping at A&P, get an ice cream, or watch a movie. Then one day a store called “Winn Dixie” opened up on a piece of cheap land just outside of this little burg, (sound familiar? it should, thats what wal mart did) and the cars started moving and parking in the Winn Dixie parking lot just out side of town. Now, if your a savvy business owner, your gonna be thinking about getting an edge on your competition and maybe move your business right next to this new store and take the down town vehicle traffic with you to this new parking lot. Thus the term “anchor store” was borne. Well, one thing led to another and pretty soon down town Brooksville died out, and the A&P closed. Remember that term “anchor store”? Well, it didn't take too long for “land developers” to come up with a strategy to acquire big swaths of land, entice big retailers to locate to their facility and provide a park like atmosphere for shoppers to enjoy a day at the “park” and spend loads of $$ in a controlled artificial environment. But, it wasn't just the retail institutions that had to change their business model as a result of the automobile, it was the “Fast food” chains, Banking Chains, “dry Cleaning Chains”. Everything became “drive thru”. Malls are there because people like convenience. In fact, people love the idea of convenience soooo much, that this very thing that gave rise to these spread out malls will now kill them. After all, who in their right mind wants to deal with traffic at the mall when ya can now shop from home and buy stuff from Amazon, eBay, Wayfair? And don't forget, if yer hungry, the hell with the drive thru..Just call “Grub Hub”. The true irony is, that this very convenience which is basically laziness will kill most of in the end. We will die out just like downtown and the malls…Shopping mallFrom Wikipedia, the free encyclopediaJump to navigationJump to search"Shopping center" redirects here. For smaller streetside shopping locations, see Strip mall.Westfield Garden State Plaza is a mall in Paramus, New Jersey.Westfarms Mall is a mall in West Hartford, Connecticut.The interior of the Aviapark in Moscow, Russia.The interior of the Toronto Eaton Centre in Toronto, Ontario, Canada.A shopping mall is a modern, chiefly North American, term for a form of shopping precinct or shopping center in which one or more buildings form a complex of shops with interconnecting walkways, usually indoors. In 2017, shopping malls accounted for 8% of retailing space in the United States.[1]A shopping arcade is a type of shopping precinct that developed earlier and in which the connecting walkways are not owned by a single proprietor and may be in the open air or covered by a ground-floor loggia. Many early shopping arcades such as the Burlington Arcade in London, the Galleria Vittorio Emanuele II in Milan, and numerous arcades in Paris are famous and still trading. However, many smaller arcades have been demolished, replaced with large centers or malls, often accessible primarily by vehicle.Technical innovations such as electric lighting and escalators were introduced from the late 19th century. From the late 20th century, entertainment venues such as movie theaters and restaurants began to be added.[2][3]As a single built structure, early shopping centers were often architecturally significant constructions, enabling wealthier patrons to buy goods in spaces protected from the weather.Contents1Regional differences2History2.1Twentieth-century developments2.2Suburban versions2.3Increasing size3Types3.1Neighborhood center3.2Community mall3.3Regional center3.4Superregional center3.5Fashion/specialty center3.6Power center3.7Theme/festival center3.8Outlet center4Components4.1Food court4.2Department stores4.3Stand-alone stores5Dead malls6New trends6.1Vertical malls6.2Online shopping influence7Shopping property management firms8Legal issues9Gallery9.1World's largest shopping malls/centers10See also11References12Further reading13External linksExpress Avenue Chennai, IndiaIn places around the world, the term shopping centre is used, especially in Europe, Australia, and South America. Mall is a term used predominantly in North America.[4]Outside of North America, "shopping precinct" and "shopping arcade" are also used. In North America, Persian Gulf countries, and India, the term shopping mall is usually applied to enclosed retail structures (and is generally abbreviated to simply mall), while shopping centre usually refers to open-air retail complexes; both types of facilities usually have large parking lots, face major traffic arterials, and have few pedestrian connections to surrounding neighbourhoods.[4]Shopping arcade in Tokyo, JapanRobinsons Place Manila in Manila, PhilippinesIn the United Kingdom and Ireland, "malls" are commonly referred to as shopping centres. Mall primarily refers to either a shopping mall – a place where a collection of shops all adjoin a pedestrian area – or an exclusively pedestrianized street that allows shoppers to walk without interference from vehicle traffic. In North America, mall is generally used to refer to a large shopping area usually composed of a single building which contains multiple shops, usually "anchored" by one or more department stores surrounded by a parking lot, while the term "arcade" is more often used, especially in the United Kingdom, to refer to a narrow pedestrian-only street, often covered or between closely spaced buildings (see town centre).The majority of British shopping centres are located in city centres, usually found in old and historic shopping districts and surrounded by subsidiary open air shopping streets. Large examples include West Quay in Southampton; Manchester Arndale; Bullring Birmingham; Liverpool One; Trinity Leeds; Buchanan Galleries in Glasgow; and Eldon Square in Newcastle upon Tyne. In addition to the inner city shopping centres, large UK conurbations will also have large out-of-town "regional malls" such as the Metrocentre in Gateshead; Meadowhall Centre, Sheffield serving South Yorkshire; the Trafford Centre in Greater Manchester; White Rose Centre in Leeds; the Merry Hill Centre near Dudley; and Bluewater in Kent. These centres were built in the 1980s and 1990s, but planning regulations prohibit the construction of any more. Out-of-town shopping developments in the UK are now focused on retail parks, which consist of groups of warehouse style shops with individual entrances from outdoors. Planning policy prioritizes the development of existing town centres, although with patchy success. Westfield Stratford City, in Stratford (London), is the largest shopping centre in Europe with over 330 shops, 50 restaurants and an 11 screen cinema and Westfield London is the largest inner-city shopping center in Europe. Bullring, Birmingham is the busiest shopping centre in the UK welcoming over 36.5 million shoppers in its opening year.[5]There are a reported 222 malls in Europe. In 2014, these malls had combined sales of $12.47 billion.[6]This represented a 10% bump in revenues from the prior year.[6]The headquarters of the International Council of Shopping Centers, the global trade association of the shopping center industry, are located in 1221 Avenue of the Americas (the middle tower pictured) in Midtown Manhattan, New York City.Cabot Circus in Bristol city centre, United KingdomHongyuan outdoor mall in ShanghaiOne of the earliest examples of public shopping areas comes from ancient Rome, in forums where shopping markets were located. One of the earliest public shopping centers is Trajan's Market in Rome located in Trajan's Forum. Trajan's Market was probably built around 100-110 CE by Apollodorus of Damascus, and it is thought to be the world's oldest shopping center – a forerunner of today's shopping mall.[7]The Grand Bazaar of Istanbul was built in the 15th century and is still one of the largest covered shopping centers in the world, with more than 58 streets and 4,000 shops. Numerous other covered shopping arcades, such as the 19th-century Al-Hamidiyah Souq in Damascus, Syria, might also be considered as precursors to the present-day shopping mall.[8]Isfahan's Grand Bazaar, which is largely covered, dates from the 10th century. The 10-kilometer-long, covered Tehran's Grand Bazaar also has a lengthy history. The oldest continuously occupied shopping mall in the world is likely to be the Chester Rows. Dating back at least to the 13th century, these covered walkways housed shops, with storage and accommodation for traders on various levels. Different rows specialized in different goods, such as 'Bakers Row' or 'Fleshmongers Row'.[9]Gostiny Dvor in St. Petersburg, which opened in 1785, may be regarded as one of the first purposely-built mall-type shopping complexes, as it consisted of more than 100 shops covering an area of over 53,000 m2(570,000 sq ft).The Marché des Enfants Rouges in Paris opened in 1628 and still runs today. The Oxford Covered Market in Oxford, England opened in 1774 and still runs today.The Passage du Caire was opened in Paris in 1798.[10]The Burlington Arcade in London was opened in 1819. The Arcade in Providence, Rhode Island introduced the retail arcade concept to the United States in 1828 and is arguably the oldest "shopping mall" in the country.[11]The Galleria Vittorio Emanuele II in Milan, Italy followed in the 1870s and is closer to large modern malls in spaciousness. Other large cities created arcades and shopping centers in the late 19th century and early 20th century, including the Cleveland Arcade, and Moscow's GUM, which opened in 1890. When the Cleveland Arcade opened in 1890, it was among the first indoor shopping arcades in the US, and like its European counterparts, was an architectural triumph. Two sides of the arcade had 1,600 panes of glass set in iron framing and is a prime example of Victorian architecture. Sydney's Queen Victoria Markets Building, opened in 1898, was also an ambitious architectural project.In the mid-20th century, with the rise of the suburb and automobile culture in the United States, a new style of shopping center was created away from downtown.[12]Early shopping centers designed for the automobile include Market Square, Lake Forest, Illinois (1916), and Country Club Plaza, Kansas City, Missouri (1924). From early on, the design tended to be inward-facing, with malls following theories of how customers could best be enticed in a controlled environment. Similar, the concept of a mall having one or more "anchor stores" or "big box stores" was pioneered early, with individual stores or smaller-scale chain stores intended to benefit from the shoppers attracted by the big stores.[13]Mall construction in America was encouraged by the accelerated depreciation laws of 1954, which incentivized greenfield development on the urban fringe. A second stimulus came from legislation passed in 1960, which allowed investors to band together in REITs (Real Estate Investment Trusts) to avoid corporate income taxes. The laws helped to shape the familiar exurbanlandscape of malls, motels, and fast food chains.[14]In the 1970s in Canada, the Ontario government created the Ontario Downtown Renewal Programme, which helped finance the building of several downtown malls across Ontario such as Eaton Centre. The program was created to reverse the tide of small business leaving downtowns for larger sites surrounding the city. In the first quarter of 2012 shopping mall private investment hit an all-time low under 0.1 percent.[15]Dayton Arcade in the United States, was built between 1902 and 1904 and Lake View Store at Morgan Park, Duluth, Minnesota, built in 1915, held its grand opening on July 20, 1916. The architect was Dean and Dean from Chicago and the building contractor was George H. Lounsberry from Duluth. The early shopping center in the United States took shape at the Grandview Avenue Shopping Center (the "Bank Block") in Grandview Heights, Ohio in 1928, the first regional shopping center in America that integrated parking into the design. This general plan by Don Monroe Casto Sr. became the prototype of shopping centers for several decades.[16]Other important shopping centers built in the 1920s and early 1930s include Country Club Plaza in Kansas City, Missouri, the Highland Park Village in Dallas, Texas; River Oaks in Houston, Texas; and the Park and Shop in Washington, D.C..Lifestyle center located in Woodbury, MinnesotaThe suburban shopping center concept evolved further in the United States after World War II. Bellevue Shopping Square (now known as Bellevue Square) opened in 1946 in Bellevue, Washington, a suburb of Seattle. Town & Country Village also opened in 1946 in Sacramento, California.[17]Then came the Broadway-Crenshaw Center (known today as the Baldwin Hills Crenshaw Plaza), which was dedicated, in the Crenshaw district of Los Angeles on November 10, 1947 as the first major shopping mall on the West Coast. Three more suburban shopping centers were completed in 1949. Town and Country Drive-In Shopping Center (Town and Country Shopping Center), in Whitehall, Ohio was a strip-type complex erected in the environs of Columbus, Ohio. Park Forest, Illinois' Park Forest Plaza (Park Forest Downtown) was built along the lines of a cluster-type complex. It was situated in the southern suburbs of Chicago, Illinois. Cameron Village contained a shopping center as part of a planned community in what was then the outskirts of Raleigh, NC.In April 1950, the suburban shopping mall came into being with the opening of Seattle's Northgate Center (now known as Northgate Mall). This was followed by Lakewood Center (1951), in Lakewood, California; Shoppers' World (1951), in Framingham, Massachusetts;[18]Stonestown Center (now Stonestown Galleria) (1952) in San Francisco, California; and Northland Center (1954), in Southfield, Michigan. Open-air-type malls were also built in Canada and Australia. Don Mills Convenience Centre (now Shops at Don Mills) opened in 1955, in Toronto, Ontario. Chermside Drive-In Shopping Centre started trading to the public in 1957, in Brisbane, Australia.The fully enclosed shopping mall did not appear until the mid-1950s. One of the earliest examples was the Valley Fair Shopping Center in Appleton, Wisconsin,[19]which opened in March 1955. Valley Fair featured a number of modern features including a large parking area, anchor stores, and restaurants. The idea of a regionally-sized, fully enclosed shopping complex was pioneered in 1956 by the Austrian-born architect and American immigrant Victor Gruen.[20]This new generation of regional-size shopping centers began with the Gruen-designed Southdale Center, which opened in the Twin Cities suburb of Edina, Minnesota, United States in October 1956. For pioneering the soon-to-be enormously popular mall concept in this form, Gruen has been called the "most influential architect of the twentieth century" by Malcolm Gladwell.[21]The first retail complex to be promoted as a "mall" was Paramus, New Jersey's Bergen Mall. The center, which opened with an open-air format in 1957, was enclosed in 1973. Aside from Southdale Center, significant early enclosed shopping malls were Harundale Mall (1958), in Glen Burnie, Maryland, Big Town Mall(1959), in Mesquite, Texas, Chris-Town Mall (1961), in Phoenix, Arizona, and Randhurst Center (1962), in Mount Prospect, Illinois.The world's first enclosed shopping mall was opened in Luleå, in northern Sweden in 1955 (architect: Ralph Erskine) and was named Shopping; the region now claims the highest shopping center density in Europe.[22]The first fully enclosed shopping mall in Canada was Wellington Square. It was designed for Eaton's by John Graham, Jr. as an enclosed mall with a department store anchor and subterranean parking which opened in downtown London, Ontario, on August 11, 1960. After several renovations, it remains open today as Citi Plaza.[23]Other early malls moved retailing away from the dense, commercial downtowns into the largely residential suburbs. This formula (enclosed space with stores attached, away from downtown, and accessible only by automobile) became a popular way to build retail across the world. Gruen himself came to abhor this effect of his new design; he decried the creation of enormous "land wasting seas of parking" and the spread of suburban sprawl.[13][24]In the UK, Chrisp Street Market was the first pedestrian shopping area built with a road at the shop fronts. The first mall-type shopping precinct in Great Britain was built in the downtown area of Birmingham. Known as Bull Ring Centre (now Bull Ring, Birmingham), it was officially dedicated in May 1964. A notable example is the Halton Lea Shopping Centre (originally known as Shopping City) in Runcorn, which opened in 1972 and was conceived as the center point for the new town's development. Another early example is the Brent Cross Centre, Britain's first out-of-town shopping mall and located on the northern outskirts of London, which was opened in March 1976.In the United States, developers such as A. Alfred Taubman of Taubman Centers extended the concept further in 1980, with terrazzo tiles at the Mall at Short Hillsin New Jersey, indoor fountains, and two levels allowing a shopper to make a circuit of all the stores. Taubman believed carpeting increased friction, slowing down customers, so it was removed. Fading daylight through glass panels was supplemented by gradually increased electric lighting, making it seem like the afternoon was lasting longer, which encouraged shoppers to linger.[25][26]Main article: List of largest shopping malls in the worldThe former Camp SnoopyAmusement park before it was Nickelodeon Universe at the center of the Mall of America in Bloomington, Minnesota, the largest shopping mall in the United StatesThe size of shopping centers and malls continued to increase throughout the twentieth and into the twenty-first centuries. With approximately 2,400,000 sq ft (220,000 m2), the Ala Moana Center in Honolulu, Hawaii was one of the largest malls in the United States when it opened for business in August 1959. The Outlets at Bergen Town Center, the oldest enclosed mall in New Jersey, opened in Paramus on November 14, 1957, with Dave Garroway, host of The Today Show, serving as master of ceremonies.[27]The mall, located just outside New York City, was planned in 1955 by Allied Stores to have 100 stores and 8,600 parking spaces in a 1,500,000 sq ft (140,000 m2) mall that would include a 300,000 sq ft (28,000 m2) Stern's store and two other 150,000 sq ft (14,000 m2) department stores as part of the design. Allied's chairman B. Earl Puckett confidently announced The Outlets at Bergen Town Center as the largest of ten proposed centers, stating that there were 25 cities that could support such centers and that no more than 50 malls of this type would ever be built nationwide.[28][29]The largest enclosed shopping mall from 1986 to 2004 was the 350,000 m2(3,800,000 sq ft) West Edmonton Mall in Edmonton, Alberta, Canada.[30]Currently, the largest mall in the world is the New South China Mall in Dongguan, China with a gross floor area of 892,000 m2(9,600,000 sq ft). The world's second-largest shopping mall is the Golden Resources Mall in Beijing, China with a gross floor area of 680,000 m2(7,300,000 sq ft). SM Megamall in the Philippines, is the world's third-largest at 542,980 m2(5,844,600 sq ft) of gross floor area. The fourth largest shopping mall in the world is SM City North EDSA in Quezon City, Philippines with a gross floor area of 504,900 m2(5,435,000 sq ft) and the fifth largest shopping mall is 1 Utama in Malaysia at 465,000 m2(5,010,000 sq ft) of gross floor area.The most visited shopping mall in the world and largest mall in the United States is the Mall of America, located near the Twin Cities in Bloomington, Minnesota. However, several Asian malls are advertised as having more visitors, including Mal Taman Anggrek, Kelapa Gading Mall and Pluit Village, all in Jakarta, Indonesia; Berjaya Times Square in Malaysia; SM City North EDSA, SM Mall of Asia and SM Megamall, all in Metro Manila, Philippines. The largest mall in South Asia is Lucky One Mall in Karachi, Pakistan.Philippines has the most number of shopping malls in the top 100 largest shopping malls in the world with 22.The International Council of Shopping Centers classifies shopping malls into eight basic types: neighborhood center, community center, regional center, superregional center, fashion/specialty center, power center, theme/festival center, and outlet center.[31]These definitions, published in 1999, were not restricted to shopping centers in any particular country, but later editions were made specific to the US with a separate set for Europe.Main article: Strip mallA neighborhood center in the form of a strip mall, in Cornelius, OregonNeighborhood centers are small-scale malls serving the local neighborhood. They typically have a supermarket or a drugstore as an anchor, and are commonly arranged in a strip mall format. Neighborhood centers usually have a retail area of 30,000 to 150,000 square feet (2,800 to 13,900 m2), and serve a primary area in a 3-mile (4.8 km) radius.[31]They are sometimes known as convenience centers.Community malls are larger than neighborhood centers, and offer a wider range of goods. They usually feature two anchor stores which are larger than that of a neighborhood center's, e.g. a discount department store. They may also follow a strip configuration, or may be L- or U-shaped. Community centers usually feature a retail area of 100,000 to 350,000 square feet (9,300 to 32,500 m2) and serve a primary area of 3 to 6 miles (4.8 to 9.7 km).[31]RioMar Shopping in Recife, Brazil, with a gross leasable area of 101,000 m2(1,090,000 sq ft)[32]A regional mall is, per the International Council of Shopping Centers, in the United States, a shopping mall which is designed to service a larger area than a conventional shopping mall. As such, it is typically larger with 400,000 sq ft (37,000 m2) to 800,000 sq ft (74,000 m2) gross leasable area with at least two anchor stores and offers a wider selection of stores. Given their wider service area, these malls tend to have higher-end stores that need a larger area in order for their services to be profitable but may have discount department stores. Regional malls are also found as tourist attractions in vacation areas.[33]Westfield Carousel, in a suburb of Perth, Australia, with a gross leasable area of 82,874 m2(892,050 sq ft)A super regional mall is, per the International Council of Shopping Centers, in the US a shopping mall with over 800,000 sq ft (74,000 m2) of gross leasable area, three or more anchors, mass merchant, more variety, fashion apparel, and serves as the dominant shopping venue for the region (25 miles or 40 km) in which it is located.[33]Fashion or specialty centers feature apparel shops and boutiques and cater to customers with higher incomes. They usually have a retail area ranging from 80,000 to 250,000 square feet (7,400 to 23,200 m2) and serve an area of 5 to 15 miles (8.0 to 24.1 km).[31]Main article: Retail parkPower centers are small shopping centers that almost exclusively feature several big-box retailers as their anchors. They usually have a retail area of 250,000 to 600,000 square feet (23,000 to 56,000 m2) and a primary trade area of 5 to 10 miles (8.0 to 16.1 km).[31]Terminal 21 in BangkokTheme or festival centers have distinct unifying themes that are followed by their individual shops as well as their architecture. They are usually located in urban areas and cater to tourists. They typically feature a retail area of 80,000 to 250,000 square feet (7,400 to 23,200 m2).[31]Main article: Outlet storeAn outlet mall (or outlet center) is a type of shopping mall in which manufacturers sell their products directly to the public through their own stores. Other stores in outlet malls are operated by retailers selling returned goods and discontinued products, often at heavily reduced prices. Outlet stores were found as early as 1936, but the first multi-store outlet mall, Vanity Fair, located in Reading, PA did not open until 1974. Belz Enterprises opened the first enclosed factory outlet mall in 1979, in Lakeland, TN, a suburb of Memphis.[34]The layout of a mid-sized shopping center Babilonas in Panevėžys, Lithuania (with main stores marked in text).Main article: Food courtA common feature of shopping malls is a food court: this typically consists of a number of fast food vendors of various types, surrounding a shared seating area.Main articles: Department store and Anchor storeWhen the shopping mall format was developed by Victor Gruen in the mid-1950s, signing larger department stores was necessary for the financial stability of the projects, and to draw retail traffic that would result in visits to the smaller stores in the mall as well. These larger stores are termed anchor store or draw tenant. In physical configuration, anchor stores are normally located as far from each other as possible to maximize the amount of traffic from one anchor to another.[citation needed]Frequently, a shopping mall or shopping center will have satellite buildings located either on the same tract of land or on one abutting it, on which will be located stand-alone stores, which may or may not be legally connected to the central facility through contract or ownership. These stores may have their own parking lots, or their lots may interconnect with those of the mall or center. The existence of the stand-alone store may have been planned by the mall's developer, or may have come about through opportunistic actions by others, but visually the central facility – the mall or shopping center – and the satellite buildings will often be perceived as being a single "unit", even in circumstances where the outlying buildings are not officially or legally connected to the mall in any way.[citation needed]Main article: Dead mallBelz Factory Outlet Mall, an abandoned shopping mall in Allen, Texas, United StatesIn the United States, in the mid-1990s, malls were still being constructed at a rate of 140 a year.[35]But in 2001, a PricewaterhouseCoopers study found that underperforming and vacant malls, known as "greyfield" and "dead mall" estates, were an emerging problem. In 2007, a year before the Great Recession, no new malls were built in America, for the first time in 50 years.[36]City Creek Center Mall in Salt Lake City, which opened in March 2012, was the first to be built since the recession.[14]In recent years, the number of dead malls increased significantly in the early twenty first century because the economic health of malls across the United States has been in decline, with high vacancy rates in these malls. From 2006 to 2010, the percentage of malls that are considered to be "dying" by real estate experts (have a vacancy rate of at least 40%), unhealthy (20–40%), or in trouble (10–20%) all increased greatly, and these high vacancy rates only partially decreased from 2010 to 2014.[37]In 2014, nearly 3% of all malls in the United States were considered to be "dying" (40% or higher vacancy rates) and nearly one-fifth of all malls had vacancy rates considered "troubling" (10% or higher). Some real estate experts say the "fundamental problem" is a glut of malls in many parts of the country creating a market that is "extremely over-retailed".[37]In parts of Canada, it is now rare for new shopping malls to be built. The Vaughan Mills Shopping Centre, opened in 2004, Crossiron Mills, opened in 2009, and Tsawwassen Mills Mall in 2016, are the only malls built in Canada since 1992. Outdoor outlet malls or big box shopping areas known as power centers are now favored, although the traditional enclosed shopping mall is still in demand by those seeking weather-protected, all-under-one-roof shopping. In addition, the enclosed interconnections between downtown multi story shopping malls continue to grow in the Underground city of Montreal (32 kilometres of passageway),[38]the PATH system of Toronto (27 km (17 mi) of passageway)[39]and the Plus15 system of Calgary (16 km (9.9 mi) of overhead passageway).[40]In Russia, on the other hand, as of 2013 a large number of new malls had been built near major cities, notably the MEGA malls such as Mega Belaya Dacha mall near Moscow. In large part they were financed by international investors and were popular with shoppers from the emerging middle class.[41]In the United States, owners are making drastic moves to convert struggling malls. This includes converting malls into apartments, offices and industrial space. Other owners have taken the approach to turning large chunks of malls into parks and playgrounds. In Austin, Texas, Highland Mall was converted into a community college. Much of the 600,000 square foot mall will be the home of Austin Community College.[42]The Fashion Centre at Pentagon City, in Arlington, Virginia, United StatesHigh land prices in populous cities have led to the concept of the "vertical mall," in which space allocated to retail is configured over a number of stories accessible by elevators and/or escalators (usually both) linking the different levels of the mall. The challenge of this type of mall is to overcome the natural tendency of shoppers to move horizontally and encourage shoppers to move upwards and downwards.[43]The concept of a vertical mall was originally conceived in the late 1960s by the Mafco Company, former shopping center development division of Marshall Field & Co. The Water Tower Place skyscraper, Chicago, Illinois, was built in 1975 by Urban Retail Properties. It contains a hotel, luxury condominiums, and office space and sits atop a block-long base containing an eight-level atrium-style retail mall that fronts on the Magnificent Mile.[citation needed]Vertical malls are common in densely populated conurbations such as Hong Kong, Jakarta, and Bangkok. Times Square in Hong Kong is a principal example.[43]A vertical mall may also be built where the geography prevents building outward or there are other restrictions on construction, such as historical buildings or significant archeology. The Darwin Shopping Centre and associated malls in Shrewsbury, UK, are built on the side of a steep hill, around the former outer walls of the nearby medieval castle;[44]consequently the shopping center is split over seven floors vertically – two locations horizontally – connected by elevators, escalators and bridge walkways. Some establishments incorporate such designs into their layout, such as Shrewsbury's McDonald's restaurant, split into four stories with multiple mezzanines which feature medieval castle vaults – complete with arrowslits – in the basement dining rooms.Faced with the exploding popularity of buying online, shopping malls are emptying and are seeking new solutions to generate traffic. In the US, for example, roughly 200 out of 1,300 malls across the country are going out of business.[45]To combat this trend, developers are trying to turn malls into leisure centers that include attractions such as parks, movie theaters, gyms, and even fishing lakes.[46]Others, such as the European commercial real-estate giant Unibail-Rodamco, are modernizing their approach by promoting brand interaction and enhanced architectural appeal. A recent example that integrates both approaches is the So Ouest mall outside of Paris that was designed to resemble elegant, Louis XV-style apartments and includes 17,000 square metres (180,000 sq ft) of green space.[47]The Australian mall company Westfield launched an online mall (and later a mobile app) with 150 stores, 3,000 brands and over 1 million products.[48]Online shopping has increased its share of total retail sales since 2008. In Q3 2008, it comprised 3.6% of retail purchases and this increased to 7.4% by Q3 2015.[42]See also: Category:Shopping property management firmsA shopping property management firm is a company that specializes in owning and managing shopping malls. Most shopping property management firms own at least 20 malls. Some firms use a similar naming scheme for most of their malls; for example, Mills Corporation puts "Mills" in most of its mall names and SM Prime Holdings of the Philippines puts "SM" in all of its malls, as well as anchor stores such as The SM Store, SM Appliance Center, SM Hypermarket, SM Cinema, and SM Supermarket. In the UK, The Mall Fund changes the name of any center it buys to "The Mall (location)", using its pink-M logo; when it sells a mall the center reverts to its own name and branding, such as the Ashley Centre in Epsom.[49]Similarly, following its rebranding from Capital Shopping Centres, intu Propertiesrenamed many of its centres to "intu (name/location)" (such as intu Lakeside; again, malls removed from the network revert to their own brand (see for instance The Glades in Bromley).Shopping center management and advisory firms are bringing about professional management practices to the largely fragmented shopping center development industry in India. Historically, land ownership in India, has been fragmented and as a byproduct shopping center development, which rendered the single mall developers vulnerable to dubious advice and practices, since standard benchmarks, knowledge resources, and skilled people were scarce. This is changing as new firms promoted by former shopping center managers are stepping in to bridge the gap between ownership and professional management.[citation needed]Beyond Squarefeet[50]from India is another mall management company, which is foraying into various other countries such as India, Iran, Nepal, Nigeria, Qatar, etc. Mall management is slowly becoming a trend and is much sought after services in Asia and other markets.One controversial aspect of malls has been their effective displacement of traditional main streets or high streets. Some consumers prefer malls, with their parking garages, controlled environments, and private security guards, over CBDs or downtowns, which frequently have limited parking, poor maintenance, outdoor weather, and limited police coverage.[51][52]In response, a few jurisdictions, notably California, have expanded the right of freedom of speech to ensure that speakers will be able to reach consumers who prefer to shop, eat, and socialize within the boundaries of privately owned malls.[53]