If the several Australian islands off the Great Barrier Reef didn't meet your expectations check out the island located in Ras Al Khaimah's Al Hamra Village. Fortunately for those who are interested, the island is up for sale at a price of Dh711 million ($193.5 million). The island which could have earlier fetched Dh1 billion ($272.3 million) is now avalaible at a lower rate thanks to UAE's real estate crash.

As demand for luxury apartments increase, developers are raising the bar. Sun Hung Kai Properties Ltd., the world’s largest developer by market value, raised the price of two penthouses in Hong Kong by 50 percent to a record HK$75,000 ($9,700) a square foot. The units will be offered for HK$300 million ($39 million) each, said Victor Lui, executive director of the company’s real- estate broker. They each have 4,000 square feet (372 square meters) on three floors, an outdoor garden and a swimming pool.

Everyone’s trying their level best to get through this tough time of recession. Condo developers, who are offering free parking spaces to prospective buyers, are now planning to put a shiny new Audi in the empty space.

A new golf club and resort being planned for Highland Perthshire in Scotland will require prospective members to prove a net worth of at least 100 million pounds, or $160 million, in order to gain entry. Developer Malcolm James has submitted plans to transform the Dall Estate (above) into a $2 billion ultra-luxe golf resort with membership fees of $3 million.

A couple shifting to the UK after having spent 18 years in Dubai are offering their four-bedroom apartment for as little as $100 through an online auction site. The couple thought of this unique ides after having difficulties in finding a buyer.

At the height of the real estate’s booming market in 2005, properties in the Disney-sponsored town of Celebration were so heavily in demand that prices soared, investors rushed in, and flipping condos for tidy profits seemed like the thing to do. In a sign of just how far the real estate market has tumbled, a few dozen condominium homes in Celebration, formerly listed at prices ranging from $480,000 to $600,000 will be auctioned off next month. The suggested opened bid: $95,000.

Remember we told you guys about those Australian islands on sale, now there’s a similar offer which you can’t afford to miss. Are you absolutely stressed out and want to run away from the same routine (and a millionaire)? Then here’s something that might just excite you. Broad Key offers 63 acres of private island bliss. The island includes a five-bedroom main house.

Timber Magnate Tim Blixseth will accept $75m for his 5 acre Caribbean island of Emerald Cay, or swap it for a Gulfstream Jet or a luxury New York apartment. Blixseth bought the island half-finished about three years ago, and then completed the construction. He originally planned on using the island as part of his Yellowstone Club World luxury residence club, but the club recently filed for bankruptcy.