House & Home (128)
Houses can go backwards
After many months without finding a buyer for his home, David Garcia decided to launch tupisoporuneuro.com , where potential buyers can bid for his house via reverse auction. The bids have a minimum of 1 euro and a maximum of 150 euros and the winner is whoever makes the lowest bid that is not repeated. The scheme works by charging bidders per bid allowing the operator to recoup the cost of the property and auction process.
Why it matters
The reverse auction trend has been buoyant for some time now, and now it appears to be property’s moment. As more and more buyers struggle to enter the market, will auctions become a route to affordable housing? What will this mean for property marketing on the whole?
Source: Europa Press
16. September 2009
The sale of incandescent light bulbs has now become illicit in the EU. Yet there is a new product that will make those happy who despise the cold light of energy saving lamps. To evade EU regulations, a German engineer sells incandescent light bulbs that are declared as mini-heaters in his online shop. With an heating efficiency of 95% these ‘Heatballs’ emit light as a side effect.
UAE-based removal firms have reported a significant jump in bookings amid growing evidence of an expatriate exodus as job losses soar. The UAE's population is expected to contract 5.5 percent this year due to expatriate lay-offs, with Dubai's forecast to shrink 17 percent.