The Calgary Herald reports that the US mortgage crisis is hitting Costa Rica’s vacation home market. Sales of the high end are still strong (Albeit after a large drop in prices) but the less expensive condos ($100-$200,000) are not selling. Slump hits vacation homes in Costa Rica
Donald Trump, in an interview with the New York Times, feels that a fall is on the way for the luxury hotel industry “It may be speaking against my interest,” Mr. Trump said, “but I think the industry is headed for a fall.” Terrible timing for a Hotel Boom
Niurka, a “powerhouse speaker,” has been invited to speak at the 13th Annual Luxury Real Estate Conference in Philadelphia. Luxury Real estate conference.
CB Richard Ellis announced its appointment as the marketing agent in Hong Kong for Gemini Grove, a luxury residential project in Beijing. Kerry’s Gemini Grove Beijing Luxury Residences.
Wealthy respondents to the Luxury Institute’s 2008 Luxury Brand Status Index (LBSI) survey rated Sotheby’s International Realty, Christie’s Great Estates , and Corcoran group as the most prestigious real estate companies. Luxury Institute Survey.
Associated Press suggest the the rich are beginning to feel the pinch in a down economy, although it is hard to feel sorry for the former hedge fund manager that has had to drop his house price twice in the last year and it still remains unsold at $7 million. Rich feel the pinch.
An abandoned US Army base in Berlin is being converted into a luxury housing complex with an investment of over $90 million. US Army base become luxury apartments. ‘Ten hut! I wonder if you have to listen to TAPS every night?
International Property Investment reports that luxury property pices are falling on Australia’s Gold Coast. Property investment on Australia’s Gold coast.
The International Herald Tribune reports that luxury property prices in central London are defying both gravity and logic. London luxury property continues to rise.
Curbed NY reveals the Toll brothers latest luxury development at 303 East 33rd. Yet another “green development” that is about as environmentally-friendly as a 747 with reusable sick bags. Toll brothers latest.
And on a lighter note, Magnum ice cream chose Villa Oxygene of Résidence Supérieur in Cannes to shoot their latest commercial which features Eva Longoria. This was such a major event that 140 journalists attended the event. Although, I do wish some one would explain just how annoying poor quality background music that plays automatically when a website is opened is. This was only cool for about 13 milliseconds back in 1980 Richard 
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Although the property market may be slow to recover, many writers and property guru’s are predicting that the Blue Coast of Portugal should see significant appreciation over the next ten years. For those of us who are interested there seems to be a number of ground floor opportunities and probably never a better time to buy than right now.
Update: With the housing market in the USA taking a dive last month (July 2010), global real estate seems to have taken a further hit too. With this in mind, more listed properties and fewer buyers, perhaps now is a great time to buy. For those of you who are looking to purchase a luxury property, many sellers are still reducing their listing price upon negotiation. This may reflect in an additional 20% off the already current reduced price. The only piece of advice I would add is that the same rule for appreciation still applies, Location, Location and Location.