The South African Reserve Bank has decided to leave interest rates unchanged, but even if they were to experience a modest change - either up or down, property prices are still expected to continue rising in value this year, but at a slower pace, compared to the past few years. Only last year, average property prices rose by 32%.

Jacques du Toit, the senior economist at Absa, says. "While a sharp downward correction is not likely. The month-on-month growth in house prices has been declining since January last year," he says.

While Sail Geffen, the managing director of Mortgage SA believes property prices will increase by a more sustainable 15% during 2005. According to Geffen, factors other than interest rates are underpinning the property market, he says. These factors include innovative home loan packages, sound economic fundamentals and the demand for property by the emerging black middle class.

Tokyo's property prices in the commercial sector have escalated in recent times which may lead to an asset price bubble according to a top executive at Japan's second-biggest property developer

Yasuhiko Watanabe, executive vice-president of Mitsubishi Estate, a leading developer, told the FT: "I feel that today's upsurge in prices is a bit too abrupt, and it is so important that people nurture the sector gradually and steadily rather than pour gas over the fire."

Whistler, in the Canadian Rockies is a favoured resort among skiers. Now, the Humber Valley Resort has just opened in Newfoundland, on the east coast. Smart wooden chalets in Humber Valley start at £275,000 for a three-bed and rise to £785,000 for a five-bed home.

Those who invested during the first phase of the 312 chalets, at the beginning of 2003 have almost doubled their money. An astonishing 87% of buyers have been British and Irish investors who have found the low prices and competitive exchange rate attractive.

A rental pool exists, allowing Humber Valley owners, to use their chalet for six weeks of the year, while the resort will let the property out during the rest of the year. Rental income then goes to a central fund that is divided 70:30 between landlords and the resort. The 70% is then split between the owners, according to the size of their chalet, amenities and location.

Because Humber Valley offers summer and winter sporting activities, there is the potential for year-round rental income.

Abu Dhabi Gets a New City.

Abu Dhabi will get a new $14.7bn (approximately £8bn) gateway to the city following the announcement of a massive city district development project, according to Gulf News. The Aldar Properties' project will be built on reclaimed land at Al Raha beach along the Abu Dhabi to Dubai highway. Low-rise beachfront buildings and 60-story tower blocks will be built over 120m sq ft, expected to eventually accommodate house 120,000 residents.

Fortune Cookie predicts a Happy New Year.

With the Chinese New Year just around the corner, many experts are predicting further growth for Shanghai's already booming property market. With twenty million residents, the city is encouraging international buy-to-let investment.

With properties in Shanghai far cheaper than many parts of the UK and the relaxing of economic regulations in China, it is now relatively easy for Western investors to own a property. With a fairly reliable rental income, and great prospects for capital growth it is easy to see why so many are looking to the Far East for investment.

Forthcoming Shanghai events include the opening of the world's tallest building in 2007, while the city will host events during the 2008 Olympics. It is also staging the 2010 World Expo, building a new Disneyland and hosts an annual Formula One grand prix race.