The Finance Minister of Canada noted in recent remarks that the Canadian economy remains strong, and he expects it to continue to grow through this year and 2009. Minister Jim Flaherty said in a speech in Calgary that economic fundamentals in the country remain strong despite the problems across the border in the United States.   "Canada's economic future is bright and I say that based on the economic...

American real estate mogul and businessman Donald Trump sold his house in Palm Beach, Florida this week for $100 million US. According to Trump’s personal spokeswoman, the $100 million sales price is the most ever paid for a single home or estate in the United States.   The Palm Beach mansion was sold to Russian billionaire Dmitry Rybolovlev. Called Maison de L’Amitie, the property has several...

Engel & Voelkers, a German real estate company, opened an office in Orlando as a branch of its Florida business, according to the Orlando Business Journal. The temporary office will hold the five agents until the company can find permanent space in nearby Celebration.   The company is a specialist in luxury properties and has some of the nicest Florida homes and estates for sale. For example, for a...

The most recent survey by South Africa’s Standard Bank officially makes South Africa a buyers market indicating that median prices for homes fell 11.3% in June year on year. The average house price in the country for June, 2008 was R550,000 compared to R620,000 a year earlier.   About the lower sales prices, a Standard Bank spokesperson noted that: “This is due to a confluence of headwinds...

WING Real Estate Development Company, formerly Wallis Real Estate, has announced that that renowned London based architect Foster + Partners has been chosen to design its new development in Budapest. The 240,000 square meter mixed-use project on the Pest side of the Danube River will be an eco-friendly project and a prime example of sustainable building design.   Construction is set to begin in 2009 and...

July17 – The Euro hit a record high against the dollar this week before falling back just a bit on a decrease in oil prices. According to the European Central Bank, on Tuesday, July 15 the reference rate for the Euro was 1.599 dollars. During the day the exchange rate was actually over 1.60, hitting an all-time high at $1.6037.   The dollar got a boost from the Federal Reserve, with economic data...

The latest research report from UK property company Knight Frank indicates that property prices in London are seeing a decline, having a 1.7% drop in June, which follows a 1.5% drop in May. Additionally, sales volumes have dropped by approximately 60% over the past year. While the overall market has fallen, prime properties are still relatively strong, and the demand for office space in the West End is...

Foreign visitors to Indonesia increased by 17% in the first half of 2008, according to estimates from Culture and Tourism Minister Jero Wacik. The number of visitors was approximately 3.1 million for the first six months of 2008, compared to 2.56 for the same period in 2007.   Additionally, the Minister estimated that tourism brought in some US $3 billion during the first half of the year. Earlier in May,...

To the west of Cairo are several new suburban developments that are attracting upscale investment and seeing increasing property values. The Sixth of October City is one of these new areas that are seeing a dramatic rise in property prices and interest from international investors. The company that is developing this area, the Sixth of October City Development and Investment (SODIC) has recently begun...

Recent news and survey results released by Master Builders Australia, the prime construction and building trade group in the country, indicate that new home starts are slowing and construction industry hopes are suffering. The latest Master Builders Australia’s National Survey of Building and Construction revealed the fourth consecutive fall in builder sentiment in the June quarter. In other news...