I can't say for sure but I understand one of the overseas investors which have been buying Irish commercial and residential property may look to package it into a vehicle suitable for listing onto the Irish Stock Market. We have no REIT on the Irish market and it would be a welcome addition in my view.
I recall listening to a few middle aged guys the other week saying they'd never invest in the stock market again - someone should have told them the US Stock Market doubled in the last five years.
The market is priced to deliver decent high single-digit annual returns over the medium-term from here. We don't know the future but we can judge value and a margin of safety. There are several Irish property funds (not listed) that appear to offer excellent potential.
Yes, Green REIT Plc an Irish property investment company, is apparently seeking a primary listing on the ISE and also a listing in London. I believe this will be the first Irish REIT. It is seeking to raise in excess of €200 million. 18 July shares expected to begin trading.
I believe that Joe Public have suffered such massive losses in relation to Irish Property, there is very little appetite to invest in an Irish Reit. Personally, the amount of casualties in the Irish Property market is so vast and not yet nearly completed, the entire Irish Property Market isn't a story, it's a nightmare.
Small investors can gain access to returns from high-quality investment-grade property assets, which have previously been the preserve of very large investors only.
Perhaps I have an outdated concept of what's a small investor these days?
Just bumping this thread to see if someone can answer my question: how do you buy a REIT? Do you just buy its shares on the stock market like any other share? I gather from Googling elsewhere that the tax treatment is like any other share.
Plus point: you get exposure to a variety of REITs at once; minus point: all the third parties have to be paid.
Apart from the usual brokerage fees & taxes on the acquisition of the ETF holding, what other third party fees are you referring to?
Gee, if it was such a great idea, why do 'the boys' want to pass it on to the general public... Any Irish REIT would be highly concentrated in a minor European economy and as such would not be suitable for most investors seeking to build a broadly diversified portfolio.
If these gentlemen were referring to investing in Irish stocks, then their conclusions are not as far of the mark as you are suggesting! There is a world of a difference between investing in say the S&P 500 and investing in the Irish stock exchange!
Is there a functioning market? I really don't think so. Given the amount of property being held back and the difficulties in funding, I find it hard to see how any conclusions on the Irish market can be anything be but speculative...
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