How much has commercial property fallen? … n-for-e8m/

So, a fall of 68% from 2003 prices?

I have a VERY small portion of my pension assets invested in an irish property fund. The underlying fund invests in “high quality” commercial, retail and industrial property. I recently analysed the performance over the past ten years. I have shown the unit value below at the start of each year, unit price reset to 1 at 1/1/2001. Hope the table comes out ok. This is supposedly the high end retail/commercial stuff, so imagine the muck would be much worse. Inflation not taken into account.

01/01/2001 1.000
01/01/2002 1.081
01/01/2003 1.108
01/01/2004 1.247
01/01/2005 1.369
01/01/2006 1.681
01/01/2007 2.156
01/01/2008 2.386
01/01/2009 1.394
01/01/2010 1.076
01/01/2011 1.040
12/08/2011 1.011

High end in Ireland often depends on who was friendly with the guy managing the fund when they worked in AIB in the 1990s straight out of UCD. Could be that the fund manager bought a shopping centre in Leitrim and another in Tipperary off one of his rugby playing buddies.

Unless you know where all the ‘assets’ are and that they were all purchased according to a clear strategy ‘high quality’ is a meaningless description in this country. :frowning:

Georgian Houses in D2 that were guiding 4 -5 million plus during the boom are now guiding 1M. No 123 on lower Baggot street is up for sale and was in the papers last week quoting €995K but its move to POA online.

Thank you, very illuminating.

no problem. What I find interesting about this is that you are dealing mainly with professional investors, there is no emotional attachment, and the crash is pretty much done and dusted and crystalised in two years flat.

Yeah, there also seems to be trust in the psf rental statistics published by JLL or the other crowd and a sharp reappraisal of what constitutes a good yield.