ICYMI - Impactful events for mobility from around the world

Welcome to our latest update post for the world of mobility! As a reminder, we publish these In Case You Missed It (ICYMI) features bi-weekly to keep you aware of the variety of events and happenings that might impact your global talent mobility.

This time last year, we were talking about strikes, and those are still a thing (see Italy below)! Today, we catch you up on numerous rental markets and ongoing immigration adjustments along with some shipping challenges and cost concerns.

1. Spain: The supply of homes for rent in Barcelona, listed at Spain’s biggest property portal Idealista, plunged from 4,567 on Wednesday to 3,444 on Friday. This is a 25% decline in just two days, which is unheard of in any normal developed rental market and bad news for anyone looking to rent a home in Barcelona. This is due to the regional government of Catalonia redefining mid-term rentals as ‘permanent homes’ subject to rent controls, with massive fines for breaking the rules. 
2. Germany: Competition in the German real estate market remains intense, particularly in major cities where housing is scarce and rental or property costs are high. Unlike most neighboring countries, Germany is predominantly a nation of renters, with approximately 57.9 percent of the population living in rented accommodation. Particularly in cities like Hamburg and Berlin, the proportion of renters is notably high. A significant reduction in rents seems unlikely in the near future. When relocating to Germany, it's important to manage expectations beforehand to ensure a successful housing search process. Booking temporary accommodation of at least 60 days is highly recommended, with the possibility of extension if necessary. 
3. Malaysia: Not long ago, it was stated that the improvement of customs procedures and relaxation of visa policies have propelled Malaysia to become the champion in regional tourism and the talent race. In fact, Malaysia beat out Thailand to become the most visited country in Southeast Asia. Now, per EIG, effective April 24, 2024, all new and renewal Employment Pass (EP) applications for MDEC-registered companies must be submitted through the Xpats Gateway using the same login credentials as the MDEC Expats System. 
4. Italy: Nationwide rail strikes by unionized railway employees are set for May 3-5th. Freight and passenger train disruptions are likely. The protest may impact both regional trains and long-distance services operated by Trenitalia and Italo.
5. Kenya: Heavy rains have caused extensive flooding in Nairobi, severely disrupting transportation across the city. Floodwaters inundated roads and highways resulting in significant traffic congestion. Additionally, the Athi River overflowed, temporarily making the road that links Nairobi to neighboring Tanzania impassable. Shipments to/from the affected areas will be delayed. 
6. Middle East/Persian Gulf: Shipping lines have begun shifting containerships in the Persian Gulf to other routes, following the seizure of the MSC Aries on April 13. MSC is still trying to negotiate the release of MSC Aries. To ensure the safety of crew, vessels, and cargo, MSC Jewel, MSC Orion, MSC Berangere, MSC Daria, MSC Calypso, and MSC Audrey have all been redirected. It has not been confirmed if MSC Leanne and MSC Rifaya will be diverted next month. Delays are expected for all shipments that have been routed through the Persian Gulf. Additionally, per Crisis24, adverse weather is expected across Bahrain, Qatar, and Saudi Arabia through May 4.
7. Taiwan: A 6.1 magnitude earthquake struck nearly 20 miles south Hualien. Immediately following the initial tremor, a 6.0 quake occurred about 10 miles south-southwest of Hualien. More than 200 aftershocks followed in Hualien and surrounding areas. Shipments in the area may be affected. On another note, Taiwan ranks high on the list as one of the more favorable places for Americans to visit.
8. UAE: Per AIRINC's data points updates, rents increased (up to 17%) in Dubai as demand for villas is high and supply is very limited. Even lower properties in less desirable areas have seen prices increase. This past year has seen more international arrivals enter the rental market which has tightened competition for senior, executive level villas. Abu Dhabi prices were also up due to supply and demand imbalances. A new report reveals the latest trends for rental properties in Dubai’s real estate market in Q1 2024.
9. European Union: Per BAL, the EU Commission allows multiple-entry Schengen visas for India, Bahrain, Oman, and Saudi Arabia. The Schengen area consists of 29 European countries (25 EU states), and Schengen visas allow for free travel within the area for short stays of a maximum of 90 days within any 180-day period. The updated visa code should provide easier access for nationals with an established travel history and the ability to obtain multi-year validity during which holders enjoy travel rights equivalent to visa-free nationals.
10. United States: Per Expat Focus, the United States real estate market has always been a dynamic and evolving landscape, attracting not just domestic but also international buyers. The U.S. real estate market offers a variety of opportunities for expatriate investors. By focusing on popular and affordable locations, understanding the rental market dynamics, considering economic and demographic trends, and being aware of regulatory considerations, expatriates can make informed decisions and potentially secure profitable investments in the U.S. property market. See their update on what's happening across the country. Also, per CoreLogic, U.S. single-family rents increased by 3.4% year over year in February, the highest rate of growth recorded since April 2023. Expensive coastal metro areas continued to lead the country for annual rent growth, with New York, Seattle and Boston at the top of the list.

Like always, we like to leave you with a few resources that might help you access information that supports you, your team, and/or your mobility programs. Try these:

AIRINC's Resources Page: has a compilation of up-to-date resources, from surveys to white papers, research, blog posts, etc. 

Envoy Global's Resource Page: eBooks, articles blog posts, guides and other reports to keep you in the know on all things immigration.

Corporate Traveler's Resource Page: Here you can get insights, case studies, white papers and their news hub to help keep you in the know and those traveling within your programs safe and secure.