The city of Stockholm is starting to construct its new railway system called the Citybanan, or the City Line. A new line is being built that runs for six kilometers underneath the city for commuter trains, along with two new stations. The new stations will be at Odenplan and a new connection to the city’s central rail station. The line will run south from the Stockholm Central Station. The cost for...
Switzerland is a country long renowned for its mountains, chocolate and timekeeping, not to mention a host of other things, and now it is becoming a home to stylish architecture. Not only do some of the world’s most famous architects work and have homes here, such as Santiago Calatrava and Sir Norman Foster, but the country is building some of the most fashionable and trend-setting buildings anywhere in...
The United States Commerce Department has released its latest housing report and the news isn’t good for the beleaguered housing and construction industry. For the month of September, 2008, new home construction starts fell to a seasonally adjusted rate of 817,000 houses. That’s a 6.3 percent decline from August and is more than 31 percent below September of 2007. It is also the lowest monthly rate for...
The UK nationalized Bank Northern Rock is more likely to repossess its customers homes more than any other UK bank says a charity aimed at helping beleaguered home owners. The charity Credit Action said Northern Rock it is not being flexible enough with customers who default on their mortgage repayments. Northern Rock was the first bank to really highlight the problems of the economy in the UK were...
Canada’s Real Estate Investment Network (REIN), a real estate research, education and consulting organization recently released a report on the top 10 Alberta towns for investment. Edmonton and Calgary take the top two spots in the report, which analyzes the current and future prospects for real estate investment in the province. Alberta, with its rich natural resources and popular recreation...
The Central American country of Nicaragua is hoping to follow in the footsteps of its neighbor to the south, Costa Rica, and become a popular destination for holiday travelers and especially retirees. With some 450 miles of coastline on both the Caribbean Sea and the Pacific Ocean, great weather and some of the lowest property rates in the Western Hemisphere, the country is poised to become a property...
The Hungarian government has made a deal with the European Central Bank to borrow up to €5 billion so that it does not become the next country to become a victim of the ongoing financial crisis. Hungary’s real estate and financial markets have slowed dramatically in the past several months and the country needs the funds to service debts denominated in currencies other than the Hungarian...
The Dubai based Jumeirah Group has just announced it is opening a new luxury hotel in Glasgow. The £125 million property will open at the corner of Argyle Street and Robertson Street in the heart of the financial district in 2011. The Jumeirah Glasgow Hotel is the group’s fifth hotel planned for Europe. The Jumeirah Group is a luxury hotel operator and currently runs what is one of the world’s most...
The Asian Development Bank, or ADB, is providing approximately 800 million yuan, or US $116.9 million, in credit that will support green building projects in the People’s Republic of China. The pilot program will see ADB and a private energy management company, as well as financial institutions, work to retrofit existing buildings to save energy. They will also work together to promote the construction...
Celebrity couple Tom Cruise and Katie Holmes are planning to welcome in 2009 at the new Atlantis The Palm Resort on Dubai’s Palm Jumeirah Island. According to news reports, the pair are hoping to make New Year’s evening a star-studded affair with celebs from across the globe in attendance. The Atlantis Resort and Hotel on the man-made Palm Jumeirah Island is a spectacular mega-resort at the very top...