The Spanish Ministry for Housing has announced that average Spanish property prices increased by 15.7% in the 1st quarter of 2005 compared to the same period last year. This is slightly down on the 17.4% registered in December 2004, indicating that that the spanish property market is experiencing a form of 'soft landing'.

Mark Stucklin of Spanish Property Insight says: "Despite some worrying evidence of emerging problems in places like the Costa del Sol, where an increasing number of investors report that properties aren't selling and prices are falling, overall it looks as if the Spanish property market has a reasonable chance of gliding down to a period of stability in which prices rise roughly in line with inflation."

In Greece, after many unsuccessful past attempts of investors to develop shopping centres, the retail market is becoming far more promising according to Colliers International. Prime examples for this are Village Warner Entertainment Park in Rendi, Millennium Shopping Center in Athens and all Carrefour's locations in the major Greek cities. Two more large developments are in the pipeline.

Hong Kong investors return to market.

Over the past fortnight, the showroom of the Arch, an 82-storey waterfront residential property being built in Hong Kong has attracted an average of 2,000 visitors per day. Demand amongst property investors in Hong Kong is now high again, following recent concerns that there may be a bubble in the country's property market.

Few cities depend as heavily on property for their livelihood as Hong Kong. The Hong Kong Monetary Authority (HKMA) noted in March: "Housing is the most important form of savings for many households and mortgage loans are the largest component of household indebtedness. The banking sector is significantly exposed, as mortgage loans and loans for property development and investment take up more than half the domestic credit."

The success of the Arch suggests that demand and an anticipated shortage of new flats is likely to keep pushing property prices up.

Increasingly Brits want a slice of Turkey.

Buy-to-Jet property investors will be interested to know that Turkey is now the second most sought after holiday destination (fourth in 2004), behind the ever-popular Majorca. Third was Cyprus, followed in order by Bulgaria, Ibiza, Corfu, Menorca, Costa Dorada, Tenerife and Zante. The standings were released by www.surf2travel.com and United Co-op, the largest independent travel agent in the UK.

EU admission set to boost Cypriot property prices.

Property prices in Cyprus may have risen by 18% last year, but Assetz reports that prices may yet increase by a further 50% when the country joins the European Union in 2007.

Stuart Law, managing director of Assetz, comments: "High standards and low costs of living along with virtually non-existent crime rates makes Cyprus an attractive option for UK investors."

"Prices are still considerably lower than in France or Spain - a three-bedroom detached villa with a private pool would currently set you back around £250,000, which would probably only stretch to a two-bedroom apartment in France. Capital growth is expected to continue at a high level for the foreseeable future due to interest from buyers all over Europe and the under supply of property."