The image of the swashbuckling Irish investor has taken quite a hammering over the last 18 months. Both Irish and non-Irish media publications frequently expressed their admiration at the way the Irish purchased enormous amounts of off plan investment property throughout Europe and the USA.
Unfortunately, many of these same investors are now frantically trying to cut their losses and have retreated back to Dublin, Cork and Galway with their proverbial tails between their legs.
Where are we seeing market activity?
I honestly do think that the types of properties Torcana are promoting (i.e. sourcing high quality finished properties available at large discounts from highly distressed vendors) is the only market niche that has seen an increase rather than a dramatic decrease in activity lately.
The sector was previously dominated by the off plan market for vacation properties, for investment properties, and for a combination of both. In the next post, I have described why demand for these types of properties has fallen off a cliff.
Markets that did well for completed / 2nd hand properties, such as Germany and France are both also suffering quite a lot now.
Anybody out there agree?
Torcana Ltd is a property investment consultancy dealing with investments in foreclosed property, distressed property, and discounted property in USA, Spain, UK, and Panama. For more information please visit: - http://www.torcana.com
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