Afternoon all Just to let you know that price updates have now been entered into our system for Poland, Czech, Latvia, and Slovakia. Romania and Cyprus are to come, though I don't know when. As soon as we can source all the data, as always! You can find the latest data here: http: / /www .propertysecrets .net /investment _performance .html Please note, again!, these are guides and your unit may be worth less OR more depending on floor, location etc. An article on what all this means is sure to follow, probably after we have the Romanian and Cypriot data. Thanks!

Hello Ben Is there any update on Pallady yet. Regards Alan

Hello Ben Is there any update on Pallady yet. Regards Alan

Hi Alan As I said, I have nothing on Romania as yet and no timeframe for getting it. I know our researchers are working on it though. I'll post up on this very forum as soon as it's available. I'm assuming Pallady will be included as it is now 6 months from launch - but I'm not guaranteeing it!

Sorry I misread your post. NB Cypus shows the update date as Sept 2007 is this a mistake or have the updates crept in. Regards Alan

Hi Ben Exactly how much time and effort goes into evaluating this data and how up to date is it? It strikes me that with the Polish data you appear to have replicated the figures issed on the Rednet website which was posted 2-3 months ago. Mark

Hi Alan I had one update in Cyprus. However, on review I'm not sure it's accurate. Will be checking it. However, it updates the over all date for the country. The individual development ones should still be April.

Hi Mark A lot of time and effort goes into sourcing current prices for all the deals we've done. In some cases, the only data we have comes from our local partners - and in Poland, we rely on RedNet for a good chunk of our deals. What we don't do is publish individual developments, preferring to publish entire countries at once. However, we do ask for the very latest update just before we publish, so if some of the data has already been published on the RedNet site then that IS the most up to date. The ideal way to do this, of course, would be to employ independent valuers to go to every development on our behalf in every country, as they do with every new deal. The cost of this would be astronomical though! Indeed, we spend a fortune on the valuations we do on new deals as it is. As I'm sure you are aware, prices in these markets change so fast it's impossible to keep up. Hence, they are intended as a guide. If you want to know the value of YOUR (generic, I don't mean you per se) units then the only way is to pay for your own valuation.

Hi Ben Just to confirm with these prices that the average growth price is the difference in the original purchase price where PS might have secured discounts and the current market value. Because I'm a confused investor in Warsaw's Galeria Park II Mokotow where we were going to gain an effective 7.4% original market discount because the developer was putting his prices up at the launch of the next phase. In this development, the growth set against purchase price according to the new figures is 5% — i.e below the figure of the next release — and in real terms, zero growth. Do we assume those new release units have gone down in value, or that prices never went up, or it's some statistical thing when averaged out? Cheers

Hi David On Galeria Park II we sold units at an average price psm of 9999PLN. According to the data I have, the deelopers launch list price was 10499PLN. Current price psm is 10500PLN. So according to the data we have, you have seen some growth, but prices have not yet risen from the developers launch price.

Sorry, David, I misread there. It would seem the developer has yet to put his prices up on the next phase - if indeed, he has begun selling that phase yet, which I don't know.