Latest news from Dubai is confusing to say the least. At the one end of the scale, the Dubai government is canceling 1,500 work permits and visas a day as the slowdown continues and developers shed staff, at the other end of the scale, developers keep on putting our press releases claiming that it is business as usual.
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It never rains but it pours. Not a metaphor one would usually use regarding Dubai. but things do seem to be going from bad to worse. We have been calling the Dubai bubble for some time now, but it is still rather shocking just how fast things have fallen to pieces.
With property values tanking in Dubai, Nakheel have now gone to the trouble of suggesting that David and Victoria Beckham “have shown interest in increasing their property portfolio in the UAE.”
Singapore’s official private home price index slid 5.7% in Q4 2008 over the preceding quarter. For full-year 2008, the index fell 4.3%, reversing a 31.2% increase during 2007. This is the Singapore real estate market’s worst performance since Q4 1998 and property consultants are predicting a further decline of 10-20% in 2009, with luxury homes continuing to be the worst hit, as in 2008, this sector having seen the biggest increases over 2006/7..
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As usual, it is hard to sift the genuine information from the press releases coming out of the UAE. To read some stories, anyone would think that the global financial crisis has passed the region by. According to Business 24/7 “Sweet Homes, an Ajman-based developer, said it will not lower selling prices for either of its two projects.”
It is easy to see why people are drawn to look for Cyprus property for sale in Paphos. Paphos offers some of the most beautiful coastline scenery in the world. Many people come to Paphos simply to relax and experience the Mediterranean lifestyle. History buffs come to Paphos for the ancient Roman and Biblical ruins.
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Invariably, when North Americans visit Puerto Vallarta, Mexico, they have such a good time under absolutely ideal conditions that they hate to leave. Upon returning home, many start planning their next trip to Vallarta and can only dream about retiring here someday. The fortunate ones, either currently retired or about to retire, often start thinking about how they can own a piece of Vallarta and spend at least a part of their retirement in Paradise. Many visitors interested in pursuing the idea of retiring in Vallarta will rent a condominium during their first extended stay, and while doing so, will experience all the benefits Vallarta has to offer, and will explore the market for condos and/or villas. Once they have determined that Vallarta will be their full time or part time retirement destination, they are ready to start considering which is most appropriate for them, a condo or villa. There are certain aspects of condo and villa ownership that are constant; for seven months from November through May, the climate will be ideal, there will be numerous activities to enjoy and an abundance of friends to enjoy them with, and every condo or villa will have a panoramic, breathtaking view of the Banderas Bay and the Sierra Madre mountains.
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If you are looking for a potential property investment location, and considering investing in property in Qatar, Viva Bahriya, the second phase of The Pearl Qatar, just got a massive boost. German Realty Fund, Trend Capital has just signed a Memorandum of Understanding with Durat Al Doha, a Qatari real estate developer to buy one of the five Imperial Towers on a turnkey project basis. The signing ceremony took place at the 3rd Qatar International Real Estate & Investment Conference & Exhibition. Mr. Ali Sayed Teymur, member of the Executive Committee signed on behalf of Durat Al Doha while Mr. Frank Simon, Chairman and General Manager represented Trend Capital.
Singapore, like many property markets around the world , saw a very lackluster performance in the later part of 2007. Colliers International, Singapore has just released a report on the state of the Singaporean property market. This is a quote from the report:
