Definitely an issue is the like for like - and a difficult one to address, but absolutely necessary.

Thanks to those who have mentioned this.

More please!

Anna,

I think you last response misrepresents the comments that have been made. we are not being akward or unappreciative in asking for information that is provided to be correct. PS cannot expect its figures to have any credibility when you are still quoting performance figures that are wrong, despite this having been pointed out months ago.

Eg Pelikan is showing a gain of 121% - on the face of it a great investment. However, this figure is seriously wrong on two counts:

- It compares the initial black finish price with fully finished units

-It uses a price that is way above the price the developer is currently offering 50 units at.

I did look at selling a Pelikan unit and the reality, based upon talking to sales agents, including iproperty, is that I might get a price of 25% more than I paid, ignoring purchase and sale costs.

I also looked at the other Polish developments where I have purchased units and have found similar errors.

Back to your original question, yes of course we want the information to continue but it must be accurate i.e. based upon a like for like comparrison with the current price taking into account any readily available developer discounts.

You are already providing this information (to unit purchasers) via iproperty so there is no excuse for continuing to provide incorrect information on your website.

Hi Alan

We're currently in the process of removing that data we cannot back up with written confirmation. Bear with us while we do this - takes a bit of time.

On the subject of black v white finish prices etc - we'll be clearing that up in the next update and ensuring we get proper like for like.

Cheers

Anna, as I was one who didn't recognise the data you offered for Cyprus I shall try once again to put my suggestions forward in relation to the Options you put to us:-

Option 1: We stop publishing the investment performance data

My Answer: This sounds like you're stamping your feet because your clients questioned your data - but they were experiencing otherwise and it appeared that you hadn't asked them for feedback before releasing the data.


Option 2: We will continue publishing the investment performance data based on the best estimates we can get from the market and continue to provide this to you free of charge. This is based on your understanding and acceptance that we are conducting this research based on estimates.

My Answer: I suggested you get feedback from your clients which you could have done for Cyprus - for free, but you don't offer that option - why? Whilst some Clients don't like divulging their personal business on the forum, you could collect the data in a confidential manner. I didn't have much trouble getting this data from clients who were willing to share and help each other so I wouldn't have thought it would cause you too much problem.

Option3: We will outsource this service to an independent expert in the local market – a valuer to conduct this performance data on our behalf. We will offer this as a paid service through our i-PA business.

It is difficult to find, or be sure when you have found, an independent expert in Cyprus, alot of the Agents, Developers and Solicitors are inter related/connected and very protective of one another's business interests. So personally I wouldn't rely on this source in Cyprus until they clean up their act and wouldn't pay for any more unreliable information.

So an Option 4 would be my suggestion - use your clients' feedback on sales/rentals where possible on completed developments and if you use your partner's data, declare who the partner is so that people can decide for themselves if they want to trust that data. When you say 'Partner' it is not always clear which partner you are referring to. Other PS representatives have put threads on this forum and written articles making it clear the source of data - it helps enormously.

Savvy,

Thank you for your input into the disscussion. Your comments and suggestions have been taken on board.

Anna