North of Los Cabos on the Baja Peninsula of Western Mexico is an increasingly popular destination for second home buyers and retirees. La Paz is the capital of Baja Sur, the southern of the two states that make up the peninsula. It is not nearly as well known as the towns at the very south of the peninsula, but it is a wonderful mix of old and new.   Currently home to about 200,000 residents, La Paz is...

A new gaming and mixed-use development is set to break ground later this year in Morocco. The 1,000-acre project is planned for the popular holiday city of Ouarzazate in the middle of the country near the Atlas Mountains. Société d’Aménagement et de Valorisation de Ouarzazate (SAVO) is the developer of the project, which will be the largest gaming location in the country.   Several casinos will be at...

12/02/09-The Pound has followed yesterday’s drop with further losses against major currencies, with US Dollar exchange rates particularly volatile after better-than-expected retail sales data released earlier on.   Mid-market rates at 1700 GMT:   Sterling – Euro = 1.1090 Sterling – US Dollar = 1.4233 Sterling – Australian Dollar = 2.1829 Sterling – New Zealand Dollar = 2.7275 Sterling –...

Downtown Cairo is seen as one of the least expensive major cities in the world to buy property. According to Global Property Guide’s most recent survey of prices, Cairo comes out as the best deal, with an average price per square meter of US$574. The survey based its figures on the average price during 2008 of a high-end apartment in the city center of 112 cities around the world, and it used the US...

The government of Cyprus recently gave permission for the building of as many as 14 new golf courses on the island. The move is seen as a boost to the tourism and construction industries, which are suffering in the current economic climate. It will also help to boost sagging property prices in Cyprus and will boost investment from abroad.   “The decision was taken for the purpose of strengthening...

Prices for luxury property in Mallorca fell substantially in the last quarter of 2008, according to a report from Engel & Volkers, a network of agents in the Balearic Islands. The year over year prices for the high end of real estate in Mallorca fell by 30 – 35 percent, according to the report.   Sales for 2009 are predicted to be down as well, making it a good buyers market for those who are...

A fire erupted in one of the newest buildings in Beijing on the last day of celebrations for the lunar New Year. The city was ablaze with fireworks as residents celebrated the Lantern Festival. The building was designed by Dutch architect Rem Koolhaas and was one of the most expensive towers constructed in the lead-up to the 2008 Beijing Olympics. It was to be the new Mandarin Oriental Hotel and is...

Hollywood star Jennifer Aniston celebrated her 40th birthday on February 7th at her new home in Beverly Hills, California. Aniston reportedly purchased the home in 2006, but had it extensively remodeled and only recently moved in. The 9,000 square foot property was designed by Hal Levitt and cost approximately £9 million.   Attending the former Friends star’s party was a whose who of Hollywood stars,...

Property values in New Zealand have taken a substantial drop over the past year, according to the government valuation agency. Quotable Value New Zealand reports that housing prices fell 8.3 percent during 2008, the largest drop since the agency began tracking figures in 2005.   Price drops were spread out across the country, with Auckland seeing a 9 percent drop during the year. Rotorua saw the largest...

The UK Office of Fair Trading OFT have reacted to a rise in online scams by joining forces with  Get Safe Online as part of its Scam Awareness Month. The OFT highlights the increasing need for vigilance against online fraudsters. 23 per cent of UK internet users surveyed said that they, or their close friends and family, had been a victim of phishing scams in the past 12-month period, compared to just...