All the latest Industry Investment News from Onyx World http://www.onyxworld.co.uk/news/ 60 2009 Onyx World Ltd http://www.onyxworld.co.uk/logos/onyxworldwhite.jpg http://www.onyxworld.co.uk/news/ en-uk news@onyxworld.co.uk (Onyx World News) Turkish investment property is likely to become more and more popular among British investors, according to experts.Real estate firm Atlas International stated that foreign property buyers are increasingly looking for suitable markets outside the eurozone.This is because the pound has weakened significantly against the single European currency in recent months.As a result, British investors are finding that they can get far more for their money if they look beyond traditional markets such as France and Italy.Giovanna Gentile, PR executive at the company, commented: "Turkey is taking its place as one of the most attractive markets. "You can buy your property in sterling and prices are very low compared to the rest of Europe." She added that the country currently has a very strong buy-to-let market, which means rental investors could collect healthy returns.This was attributed partly to its popularity with foreign holidaymakers, as Turkey attracted 20 million European visitors last year.  http://www.onyxworld.co.uk/news/article/British_investors_drawn_to_Turkey http://www.onyxworld.co.uk/news/article/British_investors_drawn_to_Turkey Fri, 30 Jan 2009 11:58:52 GMT Turkey Property Investment People who want to purchase a Spanish investment property have been advised to not be put off by current market conditions.According to Shelter Offshore, the country's property market has been in a "bit of a mess" for more than a year, resulting in prospective buyers being deterred.However, the online portal said consumers should not be put off investing in Spain, as a lot of the ongoing problems could be used to their advantage.For example, Shelter Offshore stated that some property owners and house builders are "desperate" to sell up, which means new buyers could negotiate for a favourable deal.The website noted that foreign nationals could potentially snap up a residence for "well below" its market value.Shelter Offshore added that Spain is still one of the most popular countries among overseas property buyers from the UK.Indeed, a recent study by Conti Financial Services rated it as the "number one" foreign market for British investors.  http://www.onyxworld.co.uk/news/article/Investors_%27should_not_be_put_off_Spain%27 http://www.onyxworld.co.uk/news/article/Investors_%27should_not_be_put_off_Spain%27 Fri, 30 Jan 2009 11:58:17 GMT Spain Property Investment An expert has insisted that the long-term outlook for Spain remains favourable, despite the news that the country is now in recession.Dr James Nixon, an economist at Societe General, stated that the European nation is currently undergoing a "very sharp" correction.Speaking to BBC News, he said this is reversing the effects of the sizable growth Spain has experienced over the last decade.However, Dr Nixon added that while this is "very painful" at the moment, the country will bounce back in time."The fact that the adjustment is so brutal is a reason to be optimistic for the longer term," he said.Dr Nixon was speaking after the Spanish central bank revealed that the country's gross domestic product fell by 1.1 per cent in the last quarter of 2008.This means that Spain has seen two consecutive quarters of economic contraction, putting it officially in a state of recession.However, a number of analysts have suggested that foreign nationals could potentially take advantage of the country's current financial troubles.For example, Obelisk International has said Spain could be a good option for overseas property investors to consider, as house prices have dropped significantly in recent months.  http://www.onyxworld.co.uk/news/article/Long-term_outlook_for_Spain_remains_favourable http://www.onyxworld.co.uk/news/article/Long-term_outlook_for_Spain_remains_favourable Thu, 29 Jan 2009 14:26:34 GMT Spain Property Investment The Dominican Republic is becoming an increasingly popular destination among foreign property buyers, according to experts.Real estate company Property Abroad described the country as the most affordable market in the Caribbean region.This, it stated, has led to more and more foreign nationals considering investment opportunities in the nation.Liam Bailey, chief marketing analyst at the firm, added that the country's growing tourism sector has also helped to enhance its investment potential in recent months.He advised that property owners could pick up "astonishingly high" mid to long-term rental guarantees if they invested in a tourist hotspot.Mr Bailey commented: "The Dominican Republic's popularity with overseas investors and property buyers [is] exploding."As a result, the foreign property portfolio of Britons could be boosted beyond what Holiday-Rentals and Savills recently rated at £58 billion.Mr Bailey added that the Caribbean nation is continuing to experience a strong rate of growth and has been "relatively unaffected" by the global economic downturn.  http://www.onyxworld.co.uk/news/article/Dominican_Republic%27s_popularity_%27is_exploding%27 http://www.onyxworld.co.uk/news/article/Dominican_Republic%27s_popularity_%27is_exploding%27 Thu, 29 Jan 2009 14:25:53 GMT Caribbean Property Investment The Federal Reserve in the US has announced new measures designed to stem the rising number of foreclosures across the country.It is hoped that writing down mortgages under its control will help to prevent people being forced to leave their homes, reports Reuters.Christopher Dodd, chairman of the Senate Banking Committee, has welcomed the news and described it as an encouraging development."I am very pleased that the Fed is stepping up," he commented."The previous administration … refused to do so for whatever reason."Meanwhile, Congress has approved President Barack Obama's economic rescue package.Although the $819 billion (£573 billion) stimulus plan did not receive cross-party support, he secured a sufficient majority to ensure the legislation goes ahead.President Obama said the policy could help to save or create about three million new jobs in the US over the next few years.  http://www.onyxworld.co.uk/news/article/US_Federal_Reserve_aims_to_tackle_foreclosures http://www.onyxworld.co.uk/news/article/US_Federal_Reserve_aims_to_tackle_foreclosures Thu, 29 Jan 2009 14:24:13 GMT US Property Investment Britons who have been priced out of a Spanish holiday by current exchange rates have been encouraged to travel further afield.According to the Mirror, the Cape Verde islands are a good alternative to Spain, as they offer excellent weather and affordable prices.The west African archipelago was described as a comparatively new holiday destination which has seen considerable development in the last decade.As a result, it may be of interest to overseas property buyers who are looking to invest in an expanding market.Indeed, real estate firm Property Abroad this week highlighted Cape Verde as one nation which is still experiencing growth, despite the downturn in the global economy. Cape Verde's climate was singled out for praise by the Mirror, which said it is more "reliably warm" than Spain, particularly during the winter months.This, it added, is partly due to its location on the same line of latitude as Barbados.  http://www.onyxworld.co.uk/news/article/Cape_Verde_%27offers_bargains_to_Brits%27 http://www.onyxworld.co.uk/news/article/Cape_Verde_%27offers_bargains_to_Brits%27 Thu, 29 Jan 2009 14:23:35 GMT Cape Verde Property Investment Foreign nationals have been urged to not be put off purchasing a Spanish investment property.Victor Sague, sales and marketing director for Taylor Woodrow de Espana, stated that the current economic downturn has led to many would-be buyers questioning whether investing in Spain is a prudent move.Indeed, the Bank of Spain has reported that the country is now officially in recession, following a 1.1 per cent decline in GDP in the final quarter of 2008.Mr Sague insisted that despite the current financial climate, demand for property in Spain among foreign nationals is still high."There are still good and safe long term investment opportunities to be had if you do your homework," he insisted.Mr Sague added that this is still the case, despite the fact that the property boom of the last ten years has now come to an end.  http://www.onyxworld.co.uk/news/article/Investors_%27should_not_be_put_off_buying_in_Spain%27 http://www.onyxworld.co.uk/news/article/Investors_%27should_not_be_put_off_buying_in_Spain%27 Thu, 29 Jan 2009 14:22:48 GMT Spain Property Investment Overseas property investors have been encouraged to consider looking at the Cape Verde islands.The west African archipelago was flagged up by Property Abroad as one nation which is still experiencing growth, despite the downturn in the global economy.Les Calvert, director of the company, said the conclusion of a recent study by the Heritage Foundation only serves to enhance its investment potential.Researchers compiled an Index of Economic Freedom, which saw Cape Verde pick up 61.3 points - up from 3.4 points in 2008.Mr Calvert commented: "This advance in the Freedom Index shows that the Cape Verde government is actively engaged in attracting foreign investments and these are the countries which usually succeed in doing so."He added that the African nation is ideal for investors because property values and rental yields are continuing to increase.This comes after Property Abroad suggested that Cape Verde could eventually rival Spain in terms of its popularity with overseas property buyers.  http://www.onyxworld.co.uk/news/article/Investors_advised_to_look_at_Cape_Verde http://www.onyxworld.co.uk/news/article/Investors_advised_to_look_at_Cape_Verde Wed, 28 Jan 2009 17:00:11 GMT Cape Verde Property Investment Overseas property buyers who are relocating to sunnier climes have been advised to consider a number of issues when purchasing a residence.Shelter Offshore stated that while a person's budget may be important when buying a new home, other factors are also very important if they are planning to live abroad permanently.For example, the website said that expatriates would need to have good access to public services such as healthcare facilities, especially if they plan to spend their retirement overseas.Older people were advised that even if they are in good health at the moment, it is likely that at some point they may be required to undergo some medical treatment.Shelter Offshore added that expats should also pick an easily accessible location, as they may wish to accommodate visitors from back home or visit family in the UK themselves.The online portal recommended that property buyers consider potential family visits when choosing their home, as they would need extra living space and rooms for their guests.Prospective expats considering a move to Spain have already been urged not to let negative media coverage put them off. Shelter Offshore stated that the press is being highly pessimistic amid the current downturn in the economy, to the point where people could be deterred from making lifestyle changes.   http://www.onyxworld.co.uk/news/article/Would-be_expats_advised_on_moving_abroad http://www.onyxworld.co.uk/news/article/Would-be_expats_advised_on_moving_abroad Wed, 28 Jan 2009 13:05:43 GMT Spain Property Investment A financial analyst has insisted that Turkey is in a good position to cope with ongoing problems in the global economy.Turker Hamzaoglu of Merrill Lynch warned that the European country could possibly experience a recession some time this year.However, he told Hurriyet that the outlook for the Turkish economy is not as bleak as some may believe.In fact, Mr Hamzaoglu stated that Turkey is in a much better position to withstand the various financial pressures than many other emerging nations.He commented: "We can talk about a medium landing, rather than a hard landing for the economy."Mr Hamzaoglu said a loan from the International Monetary Fund (IMF) would help to soften the blow and enable policymakers to act in a more "relaxed fashion".According to the Durmus Yilmaz, governor of the Turkish central bank, an announcement regarding a deal with the IMF is expected in the next few days.  http://www.onyxworld.co.uk/news/article/Turkey_%27well-placed_to_cope_with_financial_crisis%27 http://www.onyxworld.co.uk/news/article/Turkey_%27well-placed_to_cope_with_financial_crisis%27 Wed, 28 Jan 2009 13:05:09 GMT Turkey Property Investment The property market in Istanbul has been tipped to experience growth before the end of the year.Remzi Kozal, chairman of Turkey Engineers and Architects Association Platform, said a number of upcoming developments look set to push up house prices in the Turkish city.For example, he highlighted ongoing upgrades to the regional transport network network, as this should boost the accessibility of some areas, reports Hurriyet.In addition, Mr Kozal suggested that economic pressures which have contributed to a downturn in the construction sector will also play part."The situation presents an opportunity," he commented."I think real estate prices that have been under pressure will gain speed again in May or June."Mr Kozal added that the Turkish market has been "seriously affected" by the ongoing problems in the global economy.This comes after Hurriyet noted growing levels of interest in the country among foreign property buyers.The publication stated that this is partly because market conditions are relatively favourable in comparison with the rest of Europe.   http://www.onyxworld.co.uk/news/article/Istanbul_market_expected_to_grow http://www.onyxworld.co.uk/news/article/Istanbul_market_expected_to_grow Wed, 28 Jan 2009 13:04:45 GMT Turkey Property Investment Cape Verde's growing popularity with foreign tourists is helping to generate interest in the country among second home buyers.According to the Times, the west African archipelago has become firmly established as an attractive tourism hotspot among Britons.The newspaper noted that this has in turn led to more would-be foreign property buyers considering a possible investment in the nation.This follows a similar observation from Conti Financial Services, which claimed the country is rapidly "stealing a march" on established investment hotspots such as Spain.Cape Verde was praised by the Times for offering a number of lifestyle advantages, such as good beaches and resorts, as well as transport links with the UK.The Times stated that direct flights to the country are now available from airports such as Birmingham, Manchester and Gatwick.As a result, Cape Verde is easily accessible to both tourists and overseas property investors.  http://www.onyxworld.co.uk/news/article/Second_home_buyers_drawn_to_Cape_Verde http://www.onyxworld.co.uk/news/article/Second_home_buyers_drawn_to_Cape_Verde Wed, 28 Jan 2009 13:04:05 GMT Cape Verde Property Investment Reductions in the price of Turkish property are likely to lead to greater interest among foreign buyers, it has been suggested.According to Property Wire, house prices in cities such as Istanbul have dropped in recent months as a result of the global financial crisis.As a result, the online portal believes overseas property investors may choose to take advantage of the increased affordability and snap up a relative bargain.Indeed, one estate agent told the website that houses in some of the most desirable parts of Turkey are now on the market at knock-down prices.He commented: "While the expense of property in Istanbul may previously have prevented some buyers from entering the market, the economic slowdown has recently pushed prices down."Property Wire added that the country's investment potential could be boosted even further when Istanbul becomes European Capital of Culture.This comes after Turkish newspaper Hurriyet reported that interest in the housing market among foreign buyers has become more intense over the last few months.   http://www.onyxworld.co.uk/news/article/House_price_reductions_tipped_to_draw_investors_to_Turkey http://www.onyxworld.co.uk/news/article/House_price_reductions_tipped_to_draw_investors_to_Turkey Tue, 27 Jan 2009 15:30:06 GMT Turkey Property Investment The government in Barbados has reaffirmed its commitment to boosting the country's holiday industry.Tourism is a major contributor to the nation's economy, which has led to officials making investment in the sector a priority throughout the global financial crisis.Commenting on the industry, tourism minister Richard Sealy insisted it is withstanding the economic turbulence relatively well, reports the Barbados Advocate.Indeed, he revealed that the number of British arrivals in Barbados has gone up in the last year, while more Americans are also choosing to visit.Mr Sealy added that overall visitor numbers went down by just 0.7 per cent last year, which he said was good considering the figures had been inflated by the cricket World Cup in 2007.This comes after tourism officials in neighbouring Caribbean nation St Lucia unveiled their new branding strategy, which has been designed to help attract more visitors from overseas.  http://www.onyxworld.co.uk/news/article/Barbados_government_committed_to_tourism http://www.onyxworld.co.uk/news/article/Barbados_government_committed_to_tourism Tue, 27 Jan 2009 15:29:40 GMT Caribbean Property Investment Britons who want to move to Spain have been urged not to let negative media coverage put them off.Shelter Offshore stated that the press is being highly pessimistic amid the current downturn in the economy, to the point where people could be deterred from making lifestyle changes.Therefore, the website has insisted that popular expat destinations such as Spain still have a number of factors going for them, despite potential stumbling blocks including the weak pound."Property prices in Spain are falling and the cost of living can be comparable to the UK if you shop locally and rein in your lifestyle spending habits," it commented.Shelter Offshore said this may only need to be for a limited time, as currency values are always in flux.The online portal added that expats of working age always have the option of finding a job overseas, thereby enabling them to fund a move to another country.According to official government figures, Spain is one of the most popular European destinations among expats from the UK.  http://www.onyxworld.co.uk/news/article/Would-be_expats_%27should_not_be_put_off_moving_abroad%27 http://www.onyxworld.co.uk/news/article/Would-be_expats_%27should_not_be_put_off_moving_abroad%27 Tue, 27 Jan 2009 15:29:10 GMT Spain Property Investment Visitors to Spain have been advised to look beyond traditional hotspots in favour of Costa de la Luz.According to the Mirror, the region is a much quieter and less spoilt alternative to popular resorts such as the Costa del Sol.The newspaper said this means that prices are often cheaper in Costa de la Luz.For example, it stated that the cost of renting a villa in the region is the same as the price of an apartment in the Costa del Sol.The Mirror went on to highlight a number of other advantages of the area, such as reduced traffic volumes, great beaches and lots of authentic Spanish culture.Prospective visitors were also advised that the region contains many sites of historical interest, such as ruins dating back to Roman times.Spain is already attracting lots of overseas interest from foreign property buyers, despite the current economic downturn.Obelisk International recently highlighted the country as an ideal market for investors, as it is an easily accessible destination, with high living standards and an excellent climate.   http://www.onyxworld.co.uk/news/article/Costa_de_la_Luz_recommended_to_visitors http://www.onyxworld.co.uk/news/article/Costa_de_la_Luz_recommended_to_visitors Tue, 27 Jan 2009 15:28:43 GMT Spain Property Investment The government in Barbados has outlined its desire to develop stronger relations with Australia.Senator Maxine McClean, foreign affairs minister in the Caribbean nation, said this could include greater cooperation in the energy sector.In particular, she highlighted potential investment opportunities in the Barbadian oil and gas industries.Senator McClean commented: "The negotiation and conclusion of relevant agreements will result in increased foreign direct investment, trade and general co-operation to our mutual benefit."She added that the Caribbean island is looking forward to enhancing its relationship and cooperating more heavily with Australia.The country received strong praise for its commitment to tackling climate change, in particular its efforts to cut national greenhouse gas emissions by 60 per cent by 2050.Increased foreign investment in Barbados would represent a considerable boost to the economy as it copes with a downturn across the world.This comes after the prime minister told the Daily Nation that factors such as its strong banking system should see Barbados through the current financial turmoil. He added that other developments, such as efforts to reduce the amount of bureaucracy in government, have also worked in the country's favour.  http://www.onyxworld.co.uk/news/article/Barbados_seeks_greater_ties_with_Australia http://www.onyxworld.co.uk/news/article/Barbados_seeks_greater_ties_with_Australia Tue, 27 Jan 2009 15:28:04 GMT Caribbean Property Investment Talks between the International Monetary Fund (IMF) and Turkey about a possible loan agreement could conclude this week, it has emerged.The Turkish government is reported to be seeking a loan worth more than $20 billion in order to help support the country's economy.Gross domestic product growth slowed markedly in the second half of 2008, as the impact of the global financial crisis took its toll on a previously thriving economy.Domestic economic activity has fallen so much during recent times that the Turkish central bank cut interest rates from 15 per cent to 13 per cent earlier this month in a bid to arrest the decline. The treasury is now seeking a total of $30 billion in external finance from a combination of the financial markets, bond sales and international organisations.With money difficult to raise from the markets, successful negotiation of the IMF loan is key to the government's plans.Durmus Yilmaz, governor of the central bank, indicated that progress was being made in the talks and said an official statement on the subject is imminent.  http://www.onyxworld.co.uk/news/article/Turkey_negotiates_for_IMF_loan http://www.onyxworld.co.uk/news/article/Turkey_negotiates_for_IMF_loan Mon, 26 Jan 2009 13:32:24 GMT Turkey Property Investment St Lucia has been tipped to become significantly more popular among foreign property buyers.According to Emirates Business, the Caribbean is currently one of the most sought-after destinations among overseas investors.However, the publication said St Lucia differs from many of its neighbours in the region because it has not yet experienced a real estate boom.Indeed, Emirates Business stated that a boom in the market has only just started, which means the country is ripe for investment."The island nation has transformed its policies in the new millennium to focus on improved tourism and the provision of high-quality lifestyle homes," it commented.Emirates Business added that there have been a number of "impressive" improvements in the country's transport and communications infrastructure in recent years.This comes after St Lucia's tourism minister described the island as a "stunning" location which offers great diversity and natural beauty.  http://www.onyxworld.co.uk/news/article/St_Lucia_set_to_enjoy_real_estate_boom http://www.onyxworld.co.uk/news/article/St_Lucia_set_to_enjoy_real_estate_boom Mon, 26 Jan 2009 13:31:57 GMT Caribbean Property Investment Spain has been identified as the most popular destination among would-be foreign property buyers.Research by Homes Overseas found that the European country attracted the most interest from web-surfing investors.This put it ahead of other traditional hotspots in Europe, such as France, Italy and Portugal.Spain was also found to be more popular than established English-speaking markets, such as Australia and the United States.Commenting on the findings, Homes Overseas said current economic problems do not appear to be denting the demand for foreign property."Despite the gloomy global market conditions, enquiries for homes abroad for sale remain firm," it noted.The website added that this shows the desire among Britons to own a foreign property remains as strong as ever.This follows a poll by Andalucian Dream Homes, which found that three-quarters of British and Irish investors would like to purchase a residence in Spain.  http://www.onyxworld.co.uk/news/article/Prospective_investors_drawn_to_Spanish_market http://www.onyxworld.co.uk/news/article/Prospective_investors_drawn_to_Spanish_market Mon, 26 Jan 2009 13:31:23 GMT Spain Property Investment Barack Obama has outlined his intentions to show the American public how taxpayers' money is being spent.The new president said government spending would be made more transparent in an attempt to make policymakers accountable to the electorate.Mr Obama stated that a new website will be launched to enable every American to see how and where public money is being used.He added that the government will also aim to reduce the amount of waste in the government's budget."We'll launch an unprecedented effort to root out waste, inefficiency, and unnecessary spending in our government," Mr Obama commented.This will include a plan to make public sector buildings more energy-efficient, a move which could save billions of pounds for taxpayers and help revive the ailing economy.The new US government has already stated that improving the country's economic fortunes is one of its main priorities.Last week, treasury secretary Timothy Geithner said he would take speedy and careful action to resolve the current financial crisis.   http://www.onyxworld.co.uk/news/article/US_government_spending_%27to_be_more_transparent%27 http://www.onyxworld.co.uk/news/article/US_government_spending_%27to_be_more_transparent%27 Mon, 26 Jan 2009 13:30:56 GMT US Property Investment House prices in America have dropped to where they were in May 2004, according to new figures.Statistics from First American CoreLogic revealed that property values have fallen by nearly a fifth since they peaked in July 2006, reports Bloomberg.This means a typical home in the country is on average worth as much as it would have cost nearly five years ago.Commenting on the findings, Mark Fleming of First America said the geographic breadth of the decline expanded last year.He added that even markets with a relatively small number of foreclosures are being "drawn in" by "fundamental" economic conditions.Figures from First America show that 34 US states experienced a reduction in average house prices last year. This means that overseas property investors could potentially snap up a bargain property in the US ahead of any recovery in the market.Analysts at ForeclosureS.com recently predicted that there is likely to be a "substantial improvement" in market conditions during 2009.  http://www.onyxworld.co.uk/news/article/US_property_values_fall_to_2004_levels http://www.onyxworld.co.uk/news/article/US_property_values_fall_to_2004_levels Mon, 26 Jan 2009 13:30:15 GMT US Property Investment Overseas property buyers who are planning to retire to their new home have been advised to plan their finances carefully.Ashley Clark, director of Needanadviser.com, warned that retiring abroad can be a financial "minefield" for those who are not properly organised.Speaking to the Independent, he insisted that long-term planning is essential, as issues such as pension earnings, tax and moving assets outside of the UK need to be addressed.In addition, Mr Clark said retirees must consider healthcare provision and specific matters relating to their property purchase."The key to effective overseas retirement planning is to decide how long you expect to be away," he commented.Mr Clark added that if people choose to "muddle through" without proper planning, they could potentially lose out.The comments come after the Office for National Statistics highlighted Spain as one of the most popular destinations among British expatriates.  http://www.onyxworld.co.uk/news/article/Retired_expats_urged_to_plan_finances http://www.onyxworld.co.uk/news/article/Retired_expats_urged_to_plan_finances Mon, 26 Jan 2009 13:29:33 GMT Spain Property Investment People searching for a low-cost US investment property are targeting South Carolina, according to local estate agents.Economic problems and the availability of an unusually high number of foreclosure properties conspired to force prices down in the US housing market last year.The S&P/Case Shiller 20-City Home Price Index for the 12 months to the end of October 2008 recorded a decline of 18 per cent, with some metropolitan areas experiencing losses in value of more than 30 per cent.However, there are already signs that the market in South Carolina's holiday resorts will improve in 2009.Local agents have seen an upturn in the number of inquiries and internet searches this month, with many potential investors keen to get their hands on a bargain foreclosure property.Many of those which were on the market last year have already been snapped up, but it seems that anyone lucky enough to get their hands on a low-cost property in a good seafront area could be making a wise investment.Martin Brown of Myrtle Beach-based property management firm Condolux explained that there has been significant interest in rentals in recent times, with a record number of reservations made during December.  http://www.onyxworld.co.uk/news/article/Buyers_hunting_bargains_in_South_Carolina http://www.onyxworld.co.uk/news/article/Buyers_hunting_bargains_in_South_Carolina Fri, 23 Jan 2009 15:52:38 GMT US Property Investment The inauguration of Barack Obama as US president could have a positive impact on the global financial market, an expert has stated.James Gonzalez, a market analyst at Obelisk, said the arrival of the 44th president of the United States has generated lots of optimism in the country. He suggested that this could potentially translate into higher levels of confidence among investors, both in the US and other parts of the world. Mr Gonzalez commented: "With the change in administration, Americans are once again looking with renewed hope to the future." The new president has already pledged to take decisive action in order to stimulate a recovery in the country's economy. Mr Obama confirmed that his administration would work to create new jobs and infrastructure upgrades, which he described as a "foundation for growth". The new government has also proposed a financial stimulus package worth £594 billion, although this is yet to be approved by Congress.  http://www.onyxworld.co.uk/news/article/Obama_inauguration_%27could_boost_global_markets%27 http://www.onyxworld.co.uk/news/article/Obama_inauguration_%27could_boost_global_markets%27 Fri, 23 Jan 2009 7:59:31 GMT US Property Investment The recent drop in house prices in Spain could lead to the country attracting bargain hunters from overseas, experts have stated.According to Obelisk International, the European country could be a sound property investment opportunity this year due to the relatively low prices on the market. The company stated that many property vendors are also becoming increasingly willing to consider low offers in order to offload their stock. This has prompted James Gonzalez, market analyst at Obelisk, to recommend that prospective investors enter the market sooner rather than later.He commented: "The country offers three factors that mean recovery for property is almost a given." Mr Gonzalez said Spain is an easily accessible destination, with high living standards and an excellent climate.As a result, he is optimistic about the possibility of the market picking up, which would mean people who buy a property now could benefit from capital growth further down the line. This comes after real estate firm Property Abroad suggested that foreign investors look at buying repossessed properties in Spain, as many are top-quality homes available at a knockdown price.  http://www.onyxworld.co.uk/news/article/Bargain_prices_%27may_draw_investors_to_Spain%27 http://www.onyxworld.co.uk/news/article/Bargain_prices_%27may_draw_investors_to_Spain%27 Fri, 23 Jan 2009 7:57:45 GMT Spain Property Investment People who are planning to purchase a Spanish investment property have been urged to research the market thoroughly. Bruce Wilson, tax partner with chartered accountant Campbell Dallas, said it is very important for buyers to find out as much as they can about their chosen destination.Indeed, he stated that Britons need to be aware of how the rules and regulations in Spain differ from those at home. Mr Wilson also recommended that people consider the reasons why they are purchasing a property, such as whether they want a holiday home, permanent residence or an investment. He commented: "Get very good local advice and do your research. "It's a different process over there." Earlier this week, a poll by Andalucian Dream Homes found that three-quarters of respondents in the UK and Ireland are looking to purchase a residence in Spain.This is despite the financial pressures many British and Irish people are experiencing as a result of the credit crunch.  http://www.onyxworld.co.uk/news/article/Investors_told_to_research_Spanish_market http://www.onyxworld.co.uk/news/article/Investors_told_to_research_Spanish_market Fri, 23 Jan 2009 7:54:56 GMT Spain Property Investment Analysts at Skyscanner have predicted an upturn in the number of foreign nationals visiting Turkey this year.According to the online portal, Turkey is already a popular destination among Britons in particular, partly because of its good weather and beaches.However, it believes wider problems in the world economy could lead to the European nation attracting even more visitors in 2009.This would represent a considerable boost to the country's economy throughout the financial crisis, and may also raise its standing among foreign property investors.Skyscanner commented: "As our pound takes a battering in the international exchange arena, you'll need to go beyond the eurozone to find the cheapest deals this year."The website added that Istanbul could be a particularly good area to visit, as it offers "intoxicating" surroundings.Turkey has been widely tipped to benefit from the slump of the pound against the euro.Abta - The Travel Association said the continuing demand for foreign holidays demonstrates the importance people place on taking a break abroad, even amid an economic downturn.  http://www.onyxworld.co.uk/news/article/Turkey_tipped_to_attract_more_visitors http://www.onyxworld.co.uk/news/article/Turkey_tipped_to_attract_more_visitors Thu, 22 Jan 2009 10:43:14 GMT Turkey Property Investment Tourism officials in St Lucia have unveiled their new branding strategy, which has been designed to help attract more visitors.St Lucia Tourism wants to promote its attractions to foreign consumers by highlighting its various attributes, such as its friendly locals and attractive scenery.A new logo for the Caribbean island has been launched in order to provide a focal point for the wider marketing campaign.Allen Chastanet, the country's tourism minister, commented: "The brand mark encompasses the stunning natural beauty of our island as well as the diversity of our people and our culture."He added that he hopes the "modern" and "elegant" design will help take St Lucia to the "next level" in terms of its overall popularity across the world.This comes shortly after Mr Chastanet praised pop star Amy Winehouse for raising the country's international profile.The musician, who is best known for songs including Rehab and You Know I'm No Good, recently took a holiday in the Caribbean island.  http://www.onyxworld.co.uk/news/article/St_Lucia_officials_to_step_up_overseas_marketing http://www.onyxworld.co.uk/news/article/St_Lucia_officials_to_step_up_overseas_marketing Thu, 22 Jan 2009 10:42:43 GMT Caribbean Property Investment A real estate investor from Europe has highlighted the benefits of buying a foreclosure property in the US.Jamae Christopher, from Frankfurt in Germany, said houses which have been repossessed would otherwise be sitting vacant if investors did not purchase them.Speaking to Medill Reports, he stated that an empty property would depreciate in value, which means foreign buyers are helping to support the wider housing market."By purchasing them, we raise their value and that makes the neighbourhood feel better," he commented.Mr Christopher added that while it is unfortunate that people in the US are losing their homes, foreign investors are trying to turn a sad situation into a good one.The comments come after real estate firm Property Abroad suggested that recent interest rate cuts in the US could make a property investment in the country more appealing to foreign buyers.  http://www.onyxworld.co.uk/news/article/Buying_foreclosure_property_%27helps_US_market%27 http://www.onyxworld.co.uk/news/article/Buying_foreclosure_property_%27helps_US_market%27 Thu, 22 Jan 2009 10:41:18 GMT US Property Investment