THERE’s a looming recession in the United States today. This has made property developers elsewhere being more innovative in targeting their market. In southern Philippines, subdivision developers are targeting businessmen from nearby places as their new customers instead of United States-based workers which may ultimately be bankrupt. The same is true in such places as Spain and Canada. Even with its proximity to the United States, Canada’s economy has virtually not been affected with the 2007 subprime crisis because it has its own mortgage system and stock exchange totally separate from the United States. New suburbia developments in Toronto for example are targeted for people who are living elsewhere in Ontario rather than those people migrating in from the United States.

Salamanca in Spain has a large number of American tourists. But real estate developers there are not targeting American expats as housing unit buyers anymore. Instead, they’re focusing their eyes on middle-scale entrepreneurs in Valladolid and other surrounding areas. Anywhere in the world, subdivision features and rates are similar. They vary from double-decked structures to townhouses with fetching price of at least $50,000 payable in ten years. Let’s now take a peek at some of the latest developments happening in the properties sector all over the globe.

The Middle East Property Show will commence come February 17 in Dubai. It will feature booths from 70 real estate developers all over the region which have ongoing subdivision developments from the United Arab Emirates to Jordan. Of course, some exhibitors from other continents will be joining in such as the ones representing the United States, Austria, Bahrain, Australia, Italy, Argentina, India, Cyprus, Spain, Bulgaria, South Africa, Canada, Malaysia, Thailand, Turkey, Switzerland and Singapore.

In Valencia City in Spain, there are half a dozen subdivisions sprouting up and will be occupied by the summer of 2009 just in time for America’s Cup to dock in here. These developments are understandably located near the Mediterranean port of Valencia City.

In China, Shanghai Turbo Enterprises has been transformed into a conglomerate as it ventures into the real estate market by acquiring a properties firm which operates several subdivisions in Shanghai, Taiwan and Macau. Another company, China Overseas, has just announced that it will develop two more subdivisions in Tianjin.

In the United States, banks and other institutions which have resorted to so-called foreclosure tours to attract buyers of foreclosed houses. This is a very dry market in the United States today as many people cannot afford to pay their mortgages on time anymore so the target market now of foreclosed properties are foreigners who are willing to buy houses in the United States to convert them into vacation homes. These banks are now organizing so-called foreclosure tours to these would-be buyers, even personally escorting them to home inspection tours. These banks are selling high-end subdivision units because they know that foreign tourists and entrepreneurs from such countries as the United Arab Emirates and Saudi Arabia can certainly afford to buy these structures.