News

Prices for luxury property in Mallorca fell substantially in the last quarter of 2008, according to a report from Engel & Volkers, a network of agents in the Balearic Islands. The year over year prices for the high end of real estate in Mallorca fell by 30 – 35 percent, according to the report.   […]

The government of Cyprus recently gave permission for the building of as many as 14 new golf courses on the island. The move is seen as a boost to the tourism and construction industries, which are suffering in the current economic climate. It will also help to boost sagging property prices in Cyprus and will

Downtown Cairo is seen as one of the least expensive major cities in the world to buy property. According to Global Property Guide’s most recent survey of prices, Cairo comes out as the best deal, with an average price per square meter of US$574. The survey based its figures on the average price during 2008

Property values in New Zealand have taken a substantial drop over the past year, according to the government valuation agency. Quotable Value New Zealand reports that housing prices fell 8.3 percent during 2008, the largest drop since the agency began tracking figures in 2005.   Price drops were spread out across the country, with Auckland

Hollywood star Jennifer Aniston celebrated her 40th birthday on February 7th at her new home in Beverly Hills, California. Aniston reportedly purchased the home in 2006, but had it extensively remodeled and only recently moved in. The 9,000 square foot property was designed by Hal Levitt and cost approximately £9 million.   Attending the former

A fire erupted in one of the newest buildings in Beijing on the last day of celebrations for the lunar New Year. The city was ablaze with fireworks as residents celebrated the Lantern Festival. The building was designed by Dutch architect Rem Koolhaas and was one of the most expensive towers constructed in the lead-up

Exchange rate update for Feb 9th 2009  mid-market rates at 1300 GMT: Sterling – Euro = 1.1488 Sterling – US Dollar = 1.4970 Sterling – Australian Dollar = 2.2110 Sterling – New Zealand Dollar = 2.7870 Sterling – South African Rand = 14.2860 Sterling – Canadian Dollar = 1.8300  The Pound has followed Friday’s good gains

The UK Office of Fair Trading OFT have reacted to a rise in online scams by joining forces with  Get Safe Online as part of its Scam Awareness Month. The OFT highlights the increasing need for vigilance against online fraudsters. 23 per cent of UK internet users surveyed said that they, or their close friends

The Bank of England cut interest rates to a record low as it hopes to help the country out of a recession. The British central bank cut its rate by 50 basis points to 1.0 percent, which is the lowest since the bank was organized in 1694. It follows on the heels of several other

There are a whole host of publications and websites that publish their annual list of overseas property investment locations, and this week the Evening Standard has its own list. Their list of top overseas investment destinations for 2009 comes from John Howell of the International Law Partnership. In tough times, people tend to look for