Beijing is planning to increase its investment in renovating and upgrading downtown residential buildings in 2009. The city currently plans to spend between 1.5 billion yuan (approximately US $220.6 million) and 2 billion yuan during the course of the year. The investment in property in Beijing will affect some 20,000 homes and residents in the districts of Dongchen, Xicheng, Chongwen and Xuanwu. Vice...
Even as the United States economy is in a recession and mortgage lending remains very tight, bargains on new and existing homes are driving sales across Florida. Statewide, sales increased 15 percent for the month as the median price fell 24 percent to $169,700. Sales for October in Broward County rose 46 percent, according to the Florida Association of Realtors. The median price dropped 29 percent to...
The property market in London was one of the hottest markets in the world not long ago. Over the past several months, however, the market has dropped significantly. Prime central London property values have dropped 8.7 percent for all of 2008 and some 20 percent since September of 2007, when prices were at their peak. Average property values in London are now around the autumn, 2006 levels, according to...
A brand new luxury residential development is set for the heart of Kuala Lumpur city center (KLCC). The new property is called The Regent Residences Kuala Lumpur and will be a 38-floor high rise with serviced apartments and direct access to the underground Light Rail Transit (LRT). Jennifer Chow, senior manager of corporate communications for Malaysian property company DutaLand Berhad is impressed by...
The government of Cyprus has recently given the go-ahead for as many as four new marinas for the island country in a bid to increase tourism. The resort destination of Limassol will be home to the grandest marina of all. Limassol Marina will begin construction in early 2009 and will have its own artificial island. There will be 1,000 berths available with 400 connected to the mainland and 600 on the new...
Once one of the most exclusive spas in Europe, which had been lost for centuries has been fully restored to its former glory. The long forgotten piece of Renaissance history is now an awe-inspiring private retreat, and is available to buy through independent real estate agency 2,500,000 Euros. The spa was originally set in the complex of gardens and buildings known as the Orti Oricellari, a magnet for some...
The markets are full of news concerning different governments and central banks doing their utmost to support their domestic economies in the global slowdown. The Japanese Yen drops to its lowest levels, the Russian Rouble is devalued, the Pound nears parity with the Euro and the Irish inject more money into the economy.. The yen dropped to the lowest level versus the dollar in almost a week after...
The UK government has taken a positive stance by deciding to warn its citizens against purchasing real estate in Israeli-occupied Palestinian territories. The advice to be posted on the Foreign Office website has caused an Israeli MP to call the move Anti-Semitic. The advice, to be posted on the Foreign Office (FCO) website warns that potential purchasers of property in a settlement should consider...
The UK’s professional body for estate agency personnel the National Association of Estate Agents (NAEA) report on falls in UK house prices but also provide positive news that may indicate hope for the British housing market The NAEA www.naea.co.uk/ monthly house price survey indicates a dramatic fall in prices across the UK however amongst the gloomy figures saw glimmers of hope. This silver...
The UK property market is a buyers market and is offering property investors opportunities never seen before and for one famous entrepreneur this also means property websites One of the UK’s most high profile and successful entrepreneurs has been appointed chairman of a leading property website, www.look4aproperty.com James Caan says the move demonstrates his confidence in the UK housing market....