Property News - April 2008

Virgin talks to Dubai International Capital over expansion plans
A group of Virgin executives is understood to have visited Dubai recently to meet DIC representatives to discuss potential deals.

The Times Online
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Investment Report

The Times
A look at the markets as seen from The Times
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North America

Hotspots to look for in North America

From Chicago to Miami. Plenty of areas to benefit from the slowdown.

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USA Property Outlook - Housing market is stabilizing, optimistic Realtors say

WASHINGTON — Bucking conventional wisdom, a trade group for real estate agents said Monday that the battered housing market is on the verge of stabilizing and inched up its outlook for 2007 and 2008 home sales.

The revised monthly forecast from the National Association of Realtors, which followed nine straight months of downward revisions, calls for U.S. existing home sales to fall 12.5% this year to 5.67 million — the lowest level since 2002. Last month, the association predicted 5.66 million existing homes would be sold this year.

By Alan Zibel, AP Business Writer
>> USA Today

Central America

Belize

LAS VEGAS (November 15, 2007) – The National Association of Realtors® today announced a joint reciprocal relationship with the Belize National Association of Realtors®, the leading organization of real estate professionals in Belize. The partnership recognizes the growing importance of the Belize economy, both in the Central American region and as a magnet for international investors.

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Europe

UK Bank alters the minimum deposit required for Buy To Let Investors

The banks, which previously lent up to 85 per cent of a buy-to-let property's value, said the move was a defensive measure to try and protect the service whilst they are receiving record volumes of mortgage applications.
>> The Times Online

Weaker housing market confirmed
The annual rate of increase in house prices continued to slow, falling from 6.4% in January and 6.7% in December.

BBC News
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UAE

Law firms have been scrambling to set up in the Middle East, but all that glisters may not turn out to be gold

The financial opportunities are said to be huge. Gulf Arabs, enriched by ever-increasing oil prices
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The Times

Rock and pop concerts for Dubai after Live Nation buys Gulf promoter Mirage

The world's biggest live music companies are to take their battle for supremacy to the Gulf states after announcing plans to turn the region into the next lucrative staging post for rock's biggest stars.
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The Times

ASIA

China slowdown

SHANGHAI, China (AP) - After booming in recent years, China's real estate market is finally beginning to feel the pinch from sagging demand and tighter controls.

>> MORE