While times have been tough in recent months for Australia’s real estate sector, several new reports indicate that a recovery is on the way. Archicentre, the advisory service for the Australian Institute of Architects (AIA), notes that there is a strong housing demand and, combined with lower interest rates, the market should pick up by the end of the year.   Robert Caulfield, managing director of...

Billionaire Richard Branson has indicated that he intends to invest heavily in Portugal and may even construct a spaceport in the country in the coming years. The Virgin Atlantic Airways founder recently said he was going to build up to 20 new health clubs across the country and invest in renewable energies. These new projects could create thousands of new jobs when they are completed.   Branson had a...

On the heels of its successful Champions Towers, Memon Investments has launched the Frankfurt Sports Tower I in Dubai Sports City. The new tower will be the first in a series that will fall under the Frankfurt Sports Tower (FST) banner. These will have a distinctly German ambiance within their modern exteriors.   Frankfurt Sports Tower I is scheduled for completion in 2011 and will have 224 units. These...

Recent moves by Dubai’s Real Estate Regulatory Agency or RERA will insure that mortgages taken out for property in Dubai will be fully insured and registered could slow the buying process down in Dubai. At the same time one overseas property expert feels that the new regulations will serve to further increase confidence in the housing market.   The latest laws see regulation toward an even safer...

The Finance Minister of Cyprus has predicted that the country will see growth of 3.7 % for 2009 as well as see full employment and lowered inflation. In a recent news conference reviewing the government’s budget for 2009 and the economic outlook for Cyprus, Finance Minster Charilaos Stavrakis had a very positive outlook.   “In spite of the world going through an unprecedented economic crisis marked by...

According to a new study, eight out the top ten most expensive housing markets in the United States are in California, while eight Midwestern cities are among the ten most affordable. The Coldwell Banker Home Price Comparison index compares the average value of a 2,200 square foot house with four bedrooms, two and half bathrooms and a two car garage across the top 315 US markets. La Jolla, CA came in as...

In the wake of the US financial crisis, bad unemployment news and a slowing housing market comes even more disheartening news for the UK as independent economists have downgraded their forecasts for the economy. The monthly survey of some 30 institutions indicated that the average forecast for economic growth for 2009 is a paltry 0.3%. That is down from 0.8% in August and 1.1% in July.   The survey was...

A new high rise development is set to rise in the heart of Manila’s Makati City. Century City is located along Kalayaan Avenue next to the exclusive subdivisions of San Miguel Village and Bel Air Village. This mixed use development will have luxury residential towers, entertainment, retail shops, office space and a private recreation center for residents and workers.   The master plan for Century City...

Turkey’s holiday capital of Antalya has had a banner year in terms of the number of visitors, and things continue to boom well into September. According to news reports in the Turkish Daily News, the city has already surpassed more than 7 million visitors for the year. That is up by 19% from last year’s number of just under 6 million tourists for the same time.   The Antalya Culture and Tourism...

The coastal city of Macae, about three hours north of Rio de Janeiro, has just had a new shopping center open. The Plaza Macae will serve this city of some 160,000 residents with new stores, a movie theatre and restaurants. The center has 243,000 square feet and is anchored by Lojas Americanas, C&A Marisa, and a five screen movie theatre. A second phase of the shopping center is set to open in...