Feb
16
2009
1:16am
Austria comes alive; tough times for destination clubs
Headlines from the world of property:
Hard time shave hit the once fast-growing destination club business, with many companies filing for bankruptcy protection. From the New York Times.
Cheaper than France and Switzerland, the Austrian Alps are also relaxing some of the restrictions on foreign buyers. From the London Times.
Lord Norman Foster’s firm isheds hundreds of its employees in the wake of the downturn in the global property development market. From the Financial Times.
In what may be a sign of things to come, Bloom Properties says buyers can renegotiate to reflect lower construction costs. From the National.
Is our infatuation with seaside towns ending? A hot spot in Devon that’s turning pretty chilly. From the London Times.
There is no central resource of real estate information, making it difficult to read market trends. From Asia Property Report.
Residents protest developments which appear to conflict with laws against building on the coast. From the Olive Press.
Potential buyers are continuing to return to the property market following steep house price falls and successive interest rate cuts, research shows. From the Independent.
A consortium of Kuwaiti investors has stopped work on the construction of a luxury apartment block. From Property Week.
1 Comment
For those interested in the inside scoop on destination clubs, there’s an article called, “Destination Clubs and Other Holidays from Hell” on WSJ.com. Beneath the article, a debate broke out in the comments section in which information was made public that the destination clubs don’t want you to know about. Following is a link:
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http://blogs.wsj.com/wealth/2009/01/26/destination-clubs-and-other-holidays-from-hell/
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Posted by: Leah Powell, Virginia — 19 February 2009 7:56 pm
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About the Authors
Kevin Brass
Kevin Brass travels the world reporting on tempting locations, unusual homes and hot markets. His home-buying experience began in Southern California, where he managed to completely miss the real estate boom. He now lives with his wife, Lietza, in an oddly Tudor-style two-story house with canyon views in the suburbs of Austin, Texas. The key selling point was a screened porch, a special treat for their two cats. Unfortunately, only one has figured out the mechanics of the kitty door. He is a longtime contributor to the Properties section of the International Herald Tribune, The New York Times, Los Angeles Times, People, NWA World Traveler and a wide variety of other publications.
