The luxury developments will remain, for now, the only place foreigners can buy in Cuba.

BBC: Cuba golf project gets green light

The property market has seen an increase in residential prices of more than 32% since 2007 and luxury developments and conversions are in demand.

BBC: Living in: Cities known for art and culture

Bramah wrapped up the panel by saying investors should favor companies that build mass-market residential housing over luxury developments, as well as ones that focus on the slightly smaller, second-tier cities in the mainland rather than metropolises like Beijing and Shanghai.

FORBES: 'Bless The Mainlanders For Helping Stoke Our Economy'

News of the financial meltdown of Dubai World, a quasi-sovereign global concern that owns 77% of the international port manager DP World and the single largest real estate developer in Dubai known for its palm-tree shaped luxury residential developments, has raced from the business pages to the headlines of the front pages in a matter of days.

CENTERFORSECURITYPOLICY: The double-edged sword

Mitsui's ambition and appetite for risk are reflected in a series of developments in New York, Los Angeles and London, including a 42-story luxury apartment block in midtown Manhattan and the soon-to-be-vacated home of the British Broadcasting Corp. in London.

WSJ: Mitsui Fudosan Has

Area residents pay luxury prices for the prime location, and most live in understated, comfortable homes, often in newly built developments.

FORBES: Magazine Article