Property prices in Bulgaria have dropped to 2007 levels, according to the latest survey from Raiffesisen Real Estate Agency. The price falls are spread across the market, thought the luxury real estate sector has been relatively stable. The company used date collected from 2006 to 2009 and is regarded as one of the best and most reliable for information on the Bulgarian property market.   The largest...

Brazilian President Luiz Inacio da Silva replaced the head of the federally controlled Banco do Brasil SA in an attempt to lower interest rates in the country. The new president is Aldemir Bendine, who was formerly vice president of credit and debit cards for the bank. He replaces Antonio Francisco de Lima Neto, who had taken over as president in 2006 and was asked to step down.   Lula said in a report...

The government of Australia recently decided to create a publicly owned company that would build and operate a high-speed broadband network across the country. The AU$43 billion project will be one of the largest state-sponsored internet infrastructure projects in the world. During the eight years it is estimated to construct the new network, the project will create as many as 37,000 jobs and give a major...

A new residential resort and marina along the west coast of Costa Rica is under development and offers plenty of great opportunities for those who want an ideal retirement or vacation home in this tropical paradise. The Marina Papagayo is situated within the Papagayo Peninsula residential resort in the Guanacaste Province. The centerpiece of this resort is the new marina, which is now open, and...

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Despite the economic downturn and a slowdown in Mexican construction projects, one developer is continuing work on a couple of high-profile projects. American Pat Butler, owner of Club Acquisition Company (CAC), is investing additional resources in projects in San Felipe and Mazatlan.   “We really feel once the economy turns around there will be a pent up demand from the baby boomers,” said Butler,...

Dubai’s Palm Jebel Ali, the second of three palm islands off the coast of the emirate, has been delayed and is revising payment schedules for home investors as a result. Recently, some 400 home buyers petitioned the developer to reschedule payment plans because their villas are likely to be delivered several years later than originally planned.   The Dubai Real Estate Regulatory Authority has submitted...

The drop of the British pound against the euro is resulting in less Britons visiting Spain, one of the most popular holiday and second home destinations for UK citizens. According to recent valuations, the pound has dropped some 22 percent versus the euro over the past year.   In March, 2008, one euro was worth £0.77, while it is now listed at £0.93. That means that it takes more pounds to buy the same...

The Pound has risen against the Dollar and Euro in the last week, as investors have bought up UK bonds and equities, resulting in a demand for the British currency. The ailing Pound has also been helped by a surprise increase in UK house prices, as well as weaker than expected GDP figures released for the Eurozone yesterday. Poor American employment data released last week has also helped make the US...

The Murdeira Beach Resort is a new development on the island of Sal in the Cape Verde Islands, off the west coast of North Africa. This new project is the most ambitious development on the islands to date and will have some of the nicest homes in the country. The resort is setting the standard for luxury and quality on the island is already being touted as an example for other projects.   Murdeira Beach...