Dubai: Property News - May 2008

Why is the world's largest artificial island in the shape of a palm tree?
You can see the flattened palms from space. Their logo-like shapes span Dubai 's coastline, providing prime gulf real estate to interested millionaires . Buyers who want a little more space can even purchase their own private islet on an archipelago shaped like a map of the world.
Source: How Stuff Works

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Central America

Luxury property: Why the rich are looking to Latin America

Wealthy investors seeking safer havens for their capital in these troubled times may not have considered Latin America - until now.
Source: Times Online

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>> Panama high end properties listed here

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

Middle East

Hollywood hopes theme parks, superheroes fly in Middle East

LOS ANGELES (AP) -- Wonder Woman, King Kong and Shrek are heading for the Persian Gulf as part of the rush to build what could become the world's largest theme park playground.

But even as the ink dries on the billion-dollar deals in the United Arab Emirates, movie studios are grappling with ways to make their signature characters and amusement parks fly in the conservative Muslim region.
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Source: AP

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

UK Property Outlook - UK property prices, UK house price crash - Why the outlook is bleak for the property market.

Money Week recently had several experts predict what they think could be happening to the UK housing market over the next year and up to 15 years time.

Money Week

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.

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