Foreign property owners with holiday lets in Paris are being warned to ensure that they are fully complaint with local laws as flouting the rules could lead to a fine of up to 25,000 Euro a day and a criminal record.

The Office of the Mayor of Paris has stringent rules that now demands that property investors who let out their Parisian properties pay for affordable housing equal in size and similar in location and style to that which they are renting out. These rules have led many buy-to-letters to keep their buy-to-let propeties unofficial – any holiday property which is let out should be given government permission ahead of the start of the property’s lettings.  Read more... (460 words, 1 image, estimated 1:50 mins reading time)

It’s a very happy New Year for Cardea Property Consultants Ltd as the brand new company make five sales totalling nearly $7 million in their first month of trading.

Cardea Property Consultants are the new sales and marketing agent for The Jalousie Plantation in St Lucia, which is currently undergoing a $100 million transformation and will be rebranded as The Tides Sugar Beach on completion. Cardea took over the account from Prestigious Properties Ltd in December and have hit the ground running with luxury villa sales made at this exclusive resort development over the Christmas period.  Read more... (586 words, 3 images, estimated 2:21 mins reading time)

It was one of the World’s most highly-anticipated and talked about building projects when it was first announced, but the World Islands Developments looks like it is starting to fall into disrepair.

The World Islands Developments was a massive project planned to sit in the shallow waters just off Dubai’s coast near the highly-hyped Palm Jumeirah. When it was first launched in 2003, the Press were quick to cotton onto the idea and the super-rich and celebrities were anticipated to flock to buy islands of their own. 11 billion cubic feet of sand and 47 million tonnes of rock later and the foundations for the islands were complete.  Read more... (288 words, estimated 1:09 mins reading time)

Morocco remains an excellent country to buy property in with the number of tourists increasing by 6 percent last year despite the global economic crisis. By comparison, similar holiday destinations such as Spain and Tunisia saw the numbers of visitors decline.

In the past decade, Morocco has managed to double tourist income and there has been heavy investment in holiday properties over this period. The government are doing their bit by actively encouraging foreign investments to help raise up local living standards.  Read more... (250 words, 1 image, estimated 1:00 mins reading time)

The European Central Bank (ECB) has kept Eurozone interest rates at 1% for the eighth month in a row.

The decision comes as little surprise with many economists predicting the interest rate hold.

John Busby, director, French mortgage specialists Athena Mortgages, comments, “Another month, and as predicted another hold. It’s a prudent decision, as 2010 kicks off with the European economy facing a difficult year.  Read more... (226 words, 1 image, estimated 54 secs reading time)

Marc Jackson can sell his luxury £1.8 million home to anyone in the world in the next six weeks. But in February 2010, the door closes and no foreigner will ever be able to buy it thanks to changes in the law coming into effect in February

That’s because Marc has been living in the house he built himself since it was first completed 11 months ago. In six weeks’ time, Australian law will re-classify it as an established property. Established properties are only allowed to be sold to Australians or New Zealanders.  Read more... (617 words, 1 image, estimated 2:28 mins reading time)

The tallest building in the world opens in Dubai for business this week. The Burj Dubai is at least 2,683 feet from base to tip – over half a mile high and more than 1,000 feet higher than it’s nearest rival, the Taipei 101.

The steel-ribbed, glass-clad structure also boasts the highest swimming pool in the world which is based on the 76th floor. There are plans for the world’s highest place of worship with a mosque on the 158th floor.  Read more... (258 words, estimated 1:02 mins reading time)