New data released by the Spanish government shows that UK residents are the largest international buyers of property in Spain. While it has long been known that Brits love to buy in Spain, the data suggest that buyers from the UK are even more prevalent than many analysts previously thought.   British citizens accounted for 57.6 percent of the buyers from Europe who came from outside Spain in 2008. That...

The number of travelers visiting Prague is down for the first quarter of 2009, according to statistics released from CTK and other sources. The decline is in line with the global economic crisis, and shows that first quarter traffic at the airport is down 18 percent compared to the first quarter in 2008.   For the first quarter, the Prague-Ruzyne (PRG) airport had 2.07 million passengers. In all of 2008,...

South Africa’s First National Bank (FNB) house price index shows that prices have fallen to levels not seen since December, 2006. Prices saw double-digit deflation in April, dropping 10.2 percent, which brought overall housing to the 2006 level.   The national bank has cut interest rates several times this year, but the house price index has fallen for five months in a row. In March, it fell by 7.9...

The second largest developer in Thailand, Sansiri Pcl, is getting set to begin two new residential developments in Bangkok. The projects are to be located in the Prachauthid area of the city, where the company has had great success with another development launched in 2008, the Saransiri Wongwang-Prachauthid.   The two new projects are the Saransiri Prachauthid – Suksawad, which is worth some Bt1.7...

The International Council of Shopping Centers held its European conference in Barcelona at the end of April and the outlook for new construction in 2009 is not very good. Several banks and investment groups indicated that money for new projects will remain limited until the recession has eased, which could be late in 2010. Financing new developments and shopping centers is “not a priority,” according...

New home sales for Australia rose 4.2 percent in March, 2009, and are now 20 percent above sales at the end of the 2008. The latest Housing Industry Association (HIA) figures were recently released and show that the housing market has done much better in the first quarter of 2009.   The increase in sales is attributed to the government’s First Home Owners Boost and low mortgage rates. Harley Dale, the...

Hotel rates in Abu Dhabi are the highest in the world, according to the reports from several hospitality consultants. Revenue per available room (REVPAR) in Abu Dhabi increased to US$290 in the first quarter of 2009, compared to $265 in the same quarter of 2008, according to STR global.   Dubai’s hotel performance still remains strong compared to many other locations, with a REVPAR of $203 in the first...

Ben Affleck and Jennifer Garner have bought the home of movie producer Brian Grazer in Los Angeles for approximately $17.5 million, according to news sources. That is significant discount from the original asking price of $27.5 million for the Pacific Palisades home.   The cliffside home has a 9,000 square foot main residence that was constructed in the 1940s. It has spectacular views of Los Angeles and...

The Pound followed recent trends last week with a particularly volatile few days – finishing down against the Canadian, Australian and New Zealand Dollars, but up against the US Dollar and Euro.   Caution is still the theme, with any unfavourable economic news continuing to damage sterling’s progress – a worry if you are looking to buy overseas property.   News of note last week included the CBI...

Cape Verde is set to be connected to the new West Africa Cable System (WACS) along the coast of Africa. This new system will boost bandwith capacity for the islands and keep the country connected to the rest of the world when other systems go down. Cape Verde Telecom has now signed two deals to be part of the WACS cable and secure a Cape Verde landing for the project.   The 14,000 kilometer-long WACS...