Rents may have boomed in recent months, yet a major Dubai developer has predicted that rents in the city will eventually come down.

"Some 40,000 apartments and villas are being built in Dubai. The Discovery Gardens and the Lost City will be ready in two years' time and the Gardens shopping mall will open in a month' time. Rents have to come down (because) it is not good for the Dubai economy," says Sultan Ahmed bin Sulayem, Executive Chairman of Ports, Customs and Free Zone Corporation (PCFC), and Chairman of Nakheel.

He adds: "Some say that it is bubble. There is no bubble. (Even if there is a) bubble it is also good. Prices will come down and properties to rent will be cheaper."

British Ambassador to Bulgaria Jeremy Hill recently announced that the number of British tourists that visited Bulgaria in January 2005 has gone up by 60%, compared to January 2004.

Ambassador Hill, who was on a visit to the Smolyan region, underlined that the British tourists are interested in that region not only as a tourist destination but also as an investment location.

Earlier in the month it was reported that revenues of Bulgarian tourism recorded EUR 1.7b in 2004 with foreign tourism turnover hitting EUR 2.4 B. Investments in the tourism sector have exceeded EUR 500m over the last five years, the deputy minister announced, and approximately 90% of private investments are of Bulgarian origin.

The property markets in most major Indian cities have skyrocketed over the past two years. Yet with the local economy also set for an unprecedented boom it may now be a good time to buy in India, according to Karamjit Singh, executive director of property consultancy firm Credo Real Estate.

Changes in government policies, demographics, lifestyle demands, volume of foreign direct investments (FDIs), money markets and other economic factors also makes the prospect of investing in Indian property even more attractive.

Mr Singh says: "Demand for housing in the major cities is also set to grow with mass emigration from smaller towns, as a strong influx of FDIs and local enterprises drive the search for well-paid jobs."

But be warned about buying property in India, as there is a high-risk element involved, as with any developing country reports Singh.

Property prices rose by an average of 10% or so last year, and some forecasters expect the local property market to repeat the performance this year. The economic fundamentals in Estonia are good, though the country' s 'Baltic tiger' economy is growing fast, the local currency, the crown, is pegged to the euro and local banks are offering mortgages for as low as 3%.

Local developer, Julian East, a Brit who has been in Estonia for several years says: "Some people are buying to let, making the most of the rising market, but other people plan to live in them. The beauty of it is that people haven't gone in there and rented the whole thing out, which is the biggest recipe for disaster."

Spanish to Overtake Brits in 2015.

According to a recent report released by Deutsche Bank, Spain is on track to overtake the United Kingdom in terms of income per capita by the year 2015.

Property in Spain remains relatively cheap compared to the UK, however this would be likely to change, if indeed Deutsche Bank's forecast is correct.