Real Estate

(L-R) Indian Commerce and Industry Minister Anand Sharma, Federation of Indian Chambers of Commerce and Industry (FICCI) Secretary General Amit Mitra and Ernst & Young's Europe, Middle East, India and Africa Real Estate Head Dean Hodcroftattend the seventh International Real Estate Summit in New Delhi on September 16, 2010. The report 'FICCI-Ernst & Young Real Estate Study Calls for Regulator, Infrastructure Status and Change in FDI Norms for Early Exit & Affordable Housing' was published during the two-day gathering.

(L-R) Indian Commerce and Industry Minister Anand Sharma, Federation of Indian Chambers of Commerce and Industry (FICCI) Secretary General Amit Mitra and Ernst & Young's Europe, Middle East, India and Africa Real Estate Head Dean Hodcroft release a report at the seventh International Real Estate Summit in New Delhi on September 16, 2010. The report, 'FICCI-Ernst & Young Real Estate Study Calls for Regulator, Infrastructure Status and Change in FDI Norms for Early Exit & Affordable Housing', was published during the two-day gathering.

visitors gather near the stand of the real estate giant Nakheel, the developer behind Dubai's iconic palm-shaped man-made islands, at the Cityscape exhibition in Dubai on October 3, 2010. Cityscape, the Gulf's major annual real estate show, opened in Dubai as a scaled-down version of past years, and still reflecting the sharp deterioration in the emirate's property sector.

French President Nicolas Sarkozy (C) poses for pictures with French real estate company Nexity employees during a visit to a construction site in Villeneuve-le-Roi near Paris on September 14, 2010, to present the government's new plans to help would-be home owners buy real estate. Right background with uniform, Michel Camux, Val-de-Marne departement' prefect.

French President Nicolas Sarkozy (C), flanked by Environment Minister Jean-Louis Borloo (CR) talks with French real estate company Nexity employees during a visit to a construction site in Villeneuve-le-Roi near Paris on September 14, 2010, to present the government's new plans to help would-be home owners buy real estate.

visitors gather near the stand of the real estate giant Nakheel, the developer behind Dubai's iconic palm-shaped man-made islands, at the Cityscape exhibition in Dubai on October 3, 2010. Cityscape, the Gulf's major annual real estate show, opened in Dubai as a scaled-down version of past years, and still reflecting the sharp deterioration in the emirate's property sector.

Visitors are reflected in a mirror as they look at models of real estate at the Cityscape exhibition, the Gulf's major annual real estate show, in Dubai on October 4, 2010 after it opened as a scaled-down version of past years, and still reflecting the sharp deterioration in the emirate's property sector.

Construction workers on the site of a new development in Beijing on November 10, 2010. Property prices in China's major cities posted their second straight month-on-month rise in October despite Beijing's attempts to rein in the soaring real estate market with prices in 70 major cities up 0.2 percent in last month from September and 8.6 percent higher than October last year, the National Bureau of Statistics said. Beijing has adopted a slew of tightening steps since April to cap real estate prices and prevent an asset bubble.

A pedestian walks past a billboard depicting the scene of a new development being built in Beijing on November 10, 2010. Property prices in China's major cities posted their second straight month-on-month rise in October despite Beijing's attempts to rein in the soaring real estate market with prices in 70 major cities up 0.2 percent in last month from September and 8.6 percent higher than October last year, the National Bureau of Statistics said. Beijing has adopted a slew of tightening steps since April to cap real estate prices and prevent an asset bubble.

A billboard depicts the scene of a new development being built in Beijing on November 10, 2010. Property prices in China's major cities posted their second straight month-on-month rise in October despite Beijing's attempts to rein in the soaring real estate market with prices in 70 major cities up 0.2 percent in last month from September and 8.6 percent higher than October last year, the National Bureau of Statistics said. Beijing has adopted a slew of tightening steps since April to cap real estate prices and prevent an asset bubble.

Indian Commerce and Industry Minister Anand Sharma attends the seventh International Real Estate Summit in New Delhi on September 16, 2010. The report 'FICCI-Ernst & Young Real Estate Study Calls for Regulator, Infrastructure Status and Change in FDI Norms for Early Exit & Affordable Housing' was published during the two-day gathering.

visitors gather near the stand of the real estate giant Nakheel, the developer behind Dubai's iconic palm-shaped man-made islands, at the Cityscape exhibition in Dubai on October 3, 2010. Cityscape, the Gulf's major annual real estate show, opened in Dubai as a scaled-down version of past years, and still reflecting the sharp deterioration in the emirate's property sector.

Visitors are reflected in a mirror as they look at models of real estate at the Cityscape exhibition, the Gulf's major annual real estate show, in Dubai on October 4, 2010 after it opened as a scaled-down version of past years, and still reflecting the sharp deterioration in the emirate's property sector.

visitors gather near the stand of the real estate giant Nakheel, the developer behind Dubai's iconic palm-shaped man-made islands, at the Cityscape exhibition in Dubai on October 3, 2010. Cityscape, the Gulf's major annual real estate show, opened in Dubai as a scaled-down version of past years, and still reflecting the sharp deterioration in the emirate's property sector.

GREENWICH, CT - SEPTEMBER 15: Multi-million dollar homes are viewed in ads in a real estate office in the wealthy town of Greenwich where in 2006 the median price for a single-family home was $1.7 million on September 15, 2010 in Greenwich, Connecticut. In the run-up to midterm elections congress is debating extending the Bush tax cuts on the wealthy. President Obama and most Democrats are advocating that current tax cuts, set to expire shortly, extended for the middle class only, or those making less than $250,000.

General view of the Holyland luxury apartment complex in Jerusalem on April 21, 2010. Former Israeli premier Ehud Olmert is a suspect in the Holyland real estate scandal, in which officials are alleged to have received bribes to smooth the way for construction of the grandiose hilltop complex in the 1990s.

Federation of Indian Chambers of Commerce and Industry (FICCI) Secretary General Amit Mitra (R) shakes hands with Indian Commerce and Industry Minister Anand Sharma during the seventh International Real Estate Summit in New Delhi on September 16, 2010. FICCI organized the two-day gathering.

LOS ANGELES, CA - OCTOBER 05: Ed Rosenthal, (C) a 64-year-old real estate broker, holds the topographic map showing how far he was off track while hiking in the Joshua Tree National Park while his daughter Hilary Rosenthal shows the hat full of personal messages and a poem he wrote to his family during his ordeal, at a news conference at Clifton's Cafeteria on October 5, 2010 in Los Angeles, California. Rosenthal, who helped broker the sale of the eatery two weeks ago, embarked on the hike not long after deal closed and was rescued after spending six days lost in the Joshua Tree National Park.

French President Nicolas Sarkozy takes part in a meeting on the housing industry in Thiais near Paris on September 14, 2010, to present the government's new plans to help would-be home owners buy real estate.

Burj Khalifa, the world tallest tower, is silhouetted at sunset in Dubai, on November 30, 2010. The construction and real estate sectors in Dubai has registered a near five percent fall in 2010, a top Dubai government official said of the sector was hit hard by the financial crisis.

GREENWICH, CT - SEPTEMBER 15: Multi-million dollar homes and yachts are viewed in ads in a real estate office in the wealthy town of Greenwich where in 2006 the median price for a single-family home was $1.7 million on September 15, 2010 in Greenwich, Connecticut. In the run-up to midterm elections congress is debating extending the Bush tax cuts on the wealthy. President Obama and most Democrats are advocating that current tax cuts, set to expire shortly, extended for the middle class only, or those making less than $250,000.

An old property model is displayed at the Cityscape exhibition, the Gulf's major annual real estate show, in Dubai on October 4, 2010 after it opened as a scaled-down version of past years, and still reflecting the sharp deterioration in the emirate's property sector.

LOS ANGELES, CA - OCTOBER 05: Ed Rosenthal, (L) a 64-year-old real estate broker, points to a topographic map showing how far off track he was on his hike during a news conference at Clifton's Cafeteria on October 5, 2010 in Los Angeles, California. Rosenthal, who helped broker the sale of the eatery two weeks ago, embarked on the hike not long after deal closed and was rescued after spending six days lost in the Joshua Tree National Park.

LOS ANGELES, CA - OCTOBER 05: Ed Rosenthal, a 64-year-old real estate broker, explains his ordeal being lost in Joshua Tree National Park for six days during a news conference at Clifton's Cafeteria on October 5, 2010 in Los Angeles, California. Rosenthal, who helped broker the sale of the eatery two weeks ago, embarked on the hike not long after deal closed and was rescued after spending six days lost in the Joshua Tree National Park.

LOS ANGELES, CA - OCTOBER 05: Ed Rosenthal, a 64-year-old real estate broker, explains his ordeal being lost in Joshua Tree National Park for six days during a news conference at Clifton's Cafeteria on October 5, 2010 in Los Angeles, California. Rosenthal, who helped broker the sale of the eatery two weeks ago, embarked on the hike not long after deal closed and was rescued after spending six days lost in the Joshua Tree National Park.

LOS ANGELES, CA - OCTOBER 05: Ed Rosenthal, a 64-year-old real estate broker, reads a poem that he wrote on his hat along with personal messages to his family during his ordeal in Joshua Tree National Park, at his news conference at Clifton's Cafeteria on October 5, 2010 in Los Angeles, California. Rosenthal, who helped broker the sale of the eatery two weeks ago, embarked on the hike not long after deal closed and was rescued after spending six days lost in the Joshua Tree National Park.

Hong Kong Chief Executive Donald Tsang speaks at a press conference in Hong Kong on October 13, 2010 after giving his annual policy address to the Legislative Council. Hong Kong's leader outlined new steps Wednesday to cool the world's hottest real estate market, including a halt to automatic residency for wealthy Chinese buyers, depressing property shares.

A picture shows a clear blue sky over Victoria Harbour dividing Hong Kong island (foreground) and the Kowloon peninsular (background) in Hong Kong on October 27, 2010. Hong Kong's luxury home prices have topped their pre-Asian financial crisis peak, official data showed, despite efforts to cool one of the world's hottest real estate markets.

A property model is displayed at the Cityscape exhibition, the Gulf's major annual real estate show, in Dubai on October 4, 2010 after it opened as a scaled-down version of past years, and still reflecting the sharp deterioration in the emirate's property sector.

An old property model is displayed at the Cityscape exhibition, the Gulf's major annual real estate show, in Dubai on October 4, 2010 after it opened as a scaled-down version of past years, and still reflecting the sharp deterioration in the emirate's property sector.

A Foreclosure sign is seen in front of a bank-owned home for sale in Las Vegas, Nevada, November 8, 2010. Almost a month has passed since top government lawyers in all 50 US states unveiled a joint investigation into banks and mortgage companies who repossessed homes in the wake of the financial crisis. The attorneys general from across the US are investigating 'procedural defects' in foreclosure proceedings, a move that could spell chaos for the already battered real estate market.

Migrant workers have lunch at a construction site in Hefei, east China's Anhui province on November 23, 2010. Property prices in China's major cities posted their second straight month-on-month rise in October despite Beijing's attempts to rein in the soaring real estate market.

A property model is displayed at the Cityscape exhibition, the Gulf's major annual real estate show, in Dubai on October 4, 2010 after it opened as a scaled-down version of past years, and still reflecting the sharp deterioration in the emirate's property sector.

LOS ANGELES, CA - OCTOBER 05: Ed Rosenthal (L), a 64-year-old real estate broker, standing with his daughter Hilary Rosenthal shows his hiking stick and his hat full of notes he wrote to his family during his ordeal at a news conference at Clifton's Cafeteria on October 5, 2010 in Los Angeles, California. Rosenthal, who helped broker the sale of the eatery two weeks ago, embarked on the hike not long after deal closed and was rescued after spending six days lost in the Joshua Tree National Park.

LOS ANGELES, CA - OCTOBER 05: Ed Rosenthal, (R) a 64-year-old real estate broker, is greeted by family and friends after explaining his ordeal being lost in Joshua Tree National Park during a news conference at Clifton's Cafeteria on October 5, 2010 in Los Angeles, California. Rosenthal, who helped broker the sale of the eatery two weeks ago, embarked on the hike not long after deal closed and was rescued after spending six days lost in the Joshua Tree National Park.

LOS ANGELES, CA - OCTOBER 05: Ed Rosenthal, a 64-year-old real estate broker, explains his ordeal being lost in Joshua Tree National Park for six days holding his hat full of personal notes and messages during his news conference at Clifton's Cafeteria on October 5, 2010 in Los Angeles, California. Rosenthal, who helped broker the sale of the eatery two weeks ago, embarked on the hike not long after deal closed and was rescued after spending six days lost in the Joshua Tree National Park.

Hong Kong Chief Executive Donald Tsang speaks at a press conference in Hong Kong on October 13, 2010 after giving his annual policy address to the Legislative Council. Hong Kong's leader outlined new steps Wednesday to cool the world's hottest real estate market, including a halt to automatic residency for wealthy Chinese buyers, depressing property shares.

Migrant workers rest after lunch at a construction site in Hefei, east China's Anhui province on November 23, 2010. Property prices in China's major cities posted their second straight month-on-month rise in October despite Beijing's attempts to rein in the soaring real estate market.

Migrant workers have lunch at a construction site in Hefei, east China's Anhui province on November 23, 2010. Property prices in China's major cities posted their second straight month-on-month rise in October despite Beijing's attempts to rein in the soaring real estate market.

Migrant workers have lunch at a construction site in Hefei, east China's Anhui province on November 23, 2010. Property prices in China's major cities posted their second straight month-on-month rise in October despite Beijing's attempts to rein in the soaring real estate market.

Migrant workers have lunch at a construction site in Hefei, east China's Anhui province on November 23, 2010. Property prices in China's major cities posted their second straight month-on-month rise in October despite Beijing's attempts to rein in the soaring real estate market.

Burj Khalifa, the world tallest tower, is silhouetted at sunset in Dubai, on November 30, 2010. The construction and real estate sectors in Dubai has registered a near five percent fall in 2010, a top Dubai government official said, adding that the sector was hit hard by the financial crisis.

MIAMI - DECEMBER 07: A bank owned sign is seen in front of a foreclosed home on December 7, 2010 in Miami, Florida. Foreclosure sales made up 39.7 percent of home sales in Miami-Dade, Broward and Palm Beach counties, up from 34.02 percent the previous quarter, according to a recent report by real estate research firm RealtyTrac.

Burj Khalifa, the world tallest tower, is silhouetted at sunset in Dubai, on November 30, 2010. The construction and real estate sectors in Dubai has registered a near five percent fall in 2010, a top Dubai government official said, adding that the sector was hit hard by the financial crisis.

Burj Khalifa, the world tallest tower, is silhouetted at sunset in Dubai, on November 30, 2010. The construction and real estate sectors in Dubai has registered a near five percent fall in 2010, a top Dubai government official said, adding that the sector was hit hard by the financial crisis.

General view of the Holyland luxury apartment complex in Jerusalem on April 21, 2010. Former Israeli premier Ehud Olmert is a suspect in the Holyland real estate scandal, in which officials are alleged to have received bribes to smooth the way for construction of the grandiose hilltop complex in the 1990s.

visitors gather near an old model of falcon city at the Cityscape exhibition, the Gulf's major annual real estate show, in Dubai on October 4, 2010 after it opened as a scaled-down version of past years, and still reflecting the sharp deterioration in the emirate's property sector.

LOS ANGELES, CA - OCTOBER 05: Ed Rosenthal, a 64-year-old real estate broker, explains his ordeal being lost in Joshua Tree National Park for six days during a news conference at Clifton's Cafeteria on October 5, 2010 in Los Angeles, California. Rosenthal, who helped broker the sale of the eatery two weeks ago, embarked on the hike not long after deal closed and was rescued after spending six days lost in the Joshua Tree National Park.

Hong Kong Chief Executive Donald Tsang speaks at a press conference in Hong Kong on October 13, 2010 after giving his annual policy address to the Legislative Council. Hong Kong's leader outlined new steps Wednesday to cool the world's hottest real estate market, including a halt to automatic residency for wealthy Chinese buyers, depressing property shares.

A Foreclosure sign is seen in front of a bank-owned home for sale in Las Vegas, Nevada, November 8, 2010. Almost a month has passed since top government lawyers in all 50 US states unveiled a joint investigation into banks and mortgage companies who repossessed homes in the wake of the financial crisis. The attorneys general from across the US are investigating 'procedural defects' in foreclosure proceedings, a move that could spell chaos for the already battered real estate market.