The government of Spain has approved the creation of a €30 billion fund to buy mortgage debt from banks in a bid to help stabilize the industry and keep credit flowing. The fund could be extended to €50 billion if necessary, according to the government. Deputy Prime Minister Maria Teresa Fernandez de la Vega said that “This is a way to re-establish the normal functioning of our financial system, a...
The credit crunch has brought out some outstanding travel deals to the Caribbean. those interested in buying property in the Caribbean or just seeing some of the beautiful sites of these islands, this could be the best great time to go. You may also benefit from cheaper air fares. better hotel deals and smaller crowds. A search on the internet reveals that there are many travel deals and packages that...
Local councils across Scotland and the Scottish Government are more committed to environmentally responsible policies than ever before. The Sustainable Scotland Network (SSN) is a group that works with development officers and advocates from local authorities across Scotland. The group’s aims include promoting sustainable development, responding to the threat of climate change, ensuring that procurement...
Zaya, the UAE based real estate development company, recently earned the title of the Most Luxurous Project in the World for its Nurai Island development. The Arabic edition of Newsweek magazine announced the award as part of its list of Top 10 companies that changed the face of real estate development. According to a panel of expert judges, Zaya earned the top position in Newsweek’s listing as it...
As much of Europe and the United States wonder what will come next in the tumultuous financial and real estate markets, Turkey is providing a bit of calm in a sea of unrest. House prices and sales have fallen in the US, England, Spain and other countries, but Turkey is looking for continued growth in the years ahead. Deutsche Bank predicts 5-6% economic growth per year over the next 10-15 years, so the...
Spain is still the top overseas destination for Brits who purchase property abroad according to a recent report. The list of overseas destinations, compiled by Conti Financial Services, shows that France is closing the gap with Spain and new markets such as Dubai and Cape Verde Islands are quickly moving up. Spain and France together account for 29 percent of enquiries to Conti for overseas...
All 27 members of the European Union approved measures on Tuesday, October 7 to combat the banking crisis that is threatening to overtake the continent. The finance ministers agreed to raise guarantees for bank deposits, laid out common principles for rescuing struggling banks and temporarily relaxed accounting rules to help banks avoid fire sales. "We will be ready to respond as the situation...
New experimental housing in Finland is designed to virtually heat itself according to the developer. A new development of semi-detached homes is being constructed in Tikkurila, Vantaa, north of Helsinki. The homes are being constructed without separate heating systems and will draw heat from the household appliances, lighting and people. These homes will be more compact and have a high degree of...
A major new theme park and entertainment development project is being planned for South Africa. Amazulu World will be a multi billion dollar themed entertainment and mixed-use destination development on the north coast of Durban according the Dubai based developer, Ruwaad. The new project is set to be a master-planned community covering some 16,500 hectares of land. It will be the largest development...
The Hurghada Village Apartments is a new off-plan development in the popular resort town of Hurghada, Egypt. Located along the Red Sea coast, this city is one of the main tourist destinations in the country and has been growing rapidly in recent years. This new property development is situated away from other apartments and offers a nice holiday home with a bit of privacy as well. There will be five...