P
piglet
Guest
The SINDO biz section is hardly the bastion of nuanced reporting. This is a tabloid remember in a broad sheet format as once described as its own business editor. Articles that are too refined get dumbed down. That many overseas property martkets have topped out is not a surprise and has been well covered all over the place before the SINDO found it!
But property isn't some global integrated asset and there are plenty of markets that aren't as fully priced out as the ones featured. There also is commercial property etc. The latest fad is Asian property featuring in schemes by Merrion and Merril Lynch and large parts of Europe are in different parts of their cycles to places with artificial markets like Bulgaria where you need to be clinically mad to invest.
Germany and Poland are doing fine. There is no price fall in Lithuania where the residential market is steady if unspectacular. Someone mentioned Cape Verde - prices are up 15% this year and the tourist product is aimed at the mass affluent Europe & US market so less exposed to rising oil costs perhaps.
The benefit of the SINDO coverage is, however to call the end of the irrational exuberance period in overseas residential investment. Louise Mc Bride is in fact a very fine journalist, ex Consumer Choice CAI's magazine where she got her grounding as did Charlie Weston and ex-SBP where she learned her trade under Cliff Taylor an excellent editor. Her challenge now is to deal with Shane Ross who has a preference for hype and attention seeking heavily I think its fair to say. Nick Webb is his son-in-law btw. Ross is a director of several investment and hedge funds, none of them in property which is an asset he seems unenamoured with, classic of many equity fanatics. Louise won't stay too long is my guess.
But property isn't some global integrated asset and there are plenty of markets that aren't as fully priced out as the ones featured. There also is commercial property etc. The latest fad is Asian property featuring in schemes by Merrion and Merril Lynch and large parts of Europe are in different parts of their cycles to places with artificial markets like Bulgaria where you need to be clinically mad to invest.
Germany and Poland are doing fine. There is no price fall in Lithuania where the residential market is steady if unspectacular. Someone mentioned Cape Verde - prices are up 15% this year and the tourist product is aimed at the mass affluent Europe & US market so less exposed to rising oil costs perhaps.
The benefit of the SINDO coverage is, however to call the end of the irrational exuberance period in overseas residential investment. Louise Mc Bride is in fact a very fine journalist, ex Consumer Choice CAI's magazine where she got her grounding as did Charlie Weston and ex-SBP where she learned her trade under Cliff Taylor an excellent editor. Her challenge now is to deal with Shane Ross who has a preference for hype and attention seeking heavily I think its fair to say. Nick Webb is his son-in-law btw. Ross is a director of several investment and hedge funds, none of them in property which is an asset he seems unenamoured with, classic of many equity fanatics. Louise won't stay too long is my guess.