Record low interest rates in the UK mean that homeowners are actually better off than before - in one sense. The average homeowner with a mortgage now has more left over after paying the bills due to the low interest rates and some lower costs for other household expenses, according to the consulting firm Ernst and Young.   The firm noted that average mortgage repayments had fell by 20pc during the last...

Real estate investors in Spain are hoping for wide-scale amnesty in the face of crackdowns on illegal planning in the recent housing boom. Many new homes in Spain, particularly along the coastal areas, or costas, were constructed with permission of corrupt officials and planners. With so many new homes, it would be difficult to demolish them all according to advisors.   For example, in Malaga it has been...

While home prices in the United States have fallen dramatically in many places, the long term outlook for some areas is still excellent. US News and World Report has listed its top 10 housing markets for the next 10 years, keeping in mind that many US markets will appreciate considerably in the coming decade.   Seattle, Washington is a very good destination, with the several of its suburbs also making the...

The new Orgãos-Pedra Badejo was recently opened to traffic on Santiago Island, Cape Verde. The road was completed under a compact with the Millennium Challenge Corporation (MCC), a US-government sponsored corporation. The new road is one part of MCC’s $110 million five year compact with Cape Verde to stimulate economic growth. The newly opened stretch of road is 10 kilometers long.   “I congratulate...

Prices for rental properties in Valencia, particularly along the popular Costa Blanca, are much lower in 2009 than in the past several years according to reports from the region. Owners of apartments and villas have noted a large drop in bookings and have had to make deals to encourage travelers and renters to visit the Spanish region. Some estimates have prices as much as half of what they were in...

Following a Royal Commission of Inquiry led by a retired judge from London, the British government will take direct control of one of the last colonies, Turks and Caicos. The Caribbean islands are a popular tourist and holiday destination and a favorite of celebrities and stars. A year-long investigation has found “the high probability of systemic corruption and other serious dishonesty.” Gordon...

The Pound has today given up its recent gains following very poor UK retail sales data out this morning.   In May, retailers reported a drop in monthly sales of 0.6%, and in annual sales of 1.6%. Analysts’ expectations had been for an increase of 0.5% for the month and a drop of 0.1% for the year.   The Pound has been rising recently on increasing confidence in the UK economy, with exchange rates...

Al-Futtaim Capital of Dubai, the investment arm of the Al-Futtaim Group, is planning a major development on the Atlantic coast of Morocco. The company is in the final stages of acquiring a plot of land in Bouznika, a coastal town just south of Rabat, the capital city, and north of Casablanca.   The land is said to be approximately seven million square meters and will hold up to 42,000 residential units...

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From Albuquerque, New Mexico to Upper St.Claire, Pennsylvania, US News and World Report has listed its top ten places to live in the United States for 2009. The list doesn’t provide a ranking of first through tenth, but lists these destinations in alphabetical order. If there is one thing in common for these cities and towns, it’s that they almost all have a major university located in town or nearby...