Ireland & Spain offer opportunities to property investors

  • 12 years ago
  • Uncategorized

Two of the countries most closely associated with the
property crash across Europe now offer superb opportunities.  That’s the view of delegates at the
annual MIPIM property conference in Cannes, France.

CTV News reports that ‘Ireland and Spain have dealt with
their problems to such an extent they are attracting investors over other
debt-laden countries like Greece, Italy and Portugal.’  Keep reading to learn why now is a
great time to invest in property in Spain and Ireland.

Ireland an attractive
place to buy property

Ireland suffered arguably the biggest property crash in
Europe with residential prices now around half of their 2007 peak.  However, many experts believe it is a
great time to buy in the country.

Pierre Cherki, global head of RREEF, the property investment
arm of Deutsche Bank, said: “The Irish economy is at an interesting point in
time to buy good assets after taking tough economic decisions early on.”

Pierre Vaquier, chief executive of Axa Real Estate, agrees:
“Both Spain and Ireland are interesting investors but Ireland is more
attractive as the necessary price drops have taken place.”

Joe Valente, head of research and strategy for the European
real estate group at JP Morgan, said: “We’re looking at doing deals in Ireland
and an awful lot of funds are doing the same.”

CTV News reports that ‘since the crash, government austerity
measures have led to a drop in Ireland’s borrowing costs and seen the country
dodge the recent euro zone downgrades by the Standard & Poor’s and Fitch
rating agencies.’

However, investors should still tread with caution.  That’s the view of Christian Ulbrich,
chief executive officer for the Europe, Middle East Africa region at global
property consultancy Jones Lang LaSalle who believes that Europe’s continued
debt crisis could still lead to further problems.

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