Some form of comment from PS/Neil would be nice and I think expected from the PS community specifically regarding performance of my Eucon investment versus the forecast in the deal brochure 4.5 years ago both on capital growth and rentals.

As you sell so many property investments in CEE I believe this is a real critical issue for PS and warrants a detailed response. It is disappopinting to say the least I'm having to ask a second time.

I look forward to your comments.

Regards
Dom

Hello Dom

Apologies for not replying sooner - but your post has generated much discussion here.

I've been through your customer record and I note that you are just a LITE member - therefore, you are missing out on the Prague and Czech analysis that we are providing to PRO members. You can get this when you join as a PRO member.

Also, as you say, you bought 4.5 years ago. I believe I am correct in saying that you neither took the i-PA service for completion or letting and therefore we have no contractual relationship with you what so ever.

In essence, you are asking for free advice. Which you are free to do so on this forum and other members may be willing to respond - but I hope you understand that we are not able to provide unlimited free advice - especially given that you have also bought units in Prague through other companies and I don't suspect that you are expecting them to provide you with free advice 4 years after you bought a property?

If on the other hand, you are interested in us helping you to sell your property - we can provide that service too at https: / /secure .i -propertyassets .com /resale .html where we will of course, earn a fee.

Also, we are now putting in place a service whereby you (or any other non-PS or lapsed PS client) can ask us to review a single or a mix of investments. This will be charged on an hourly rate.

Nevertheless, for the benefit of the rest of the members I will just add the following

1. Your calculation is incorrect - you have added (ie. summed) the list price discount to the market price discount - but these are simply two different ways to calculating the same discount - therefore, you analysis of growth is incorrect too (ie too low).

2. The location of Eucon is close to the centre of Prague but has not seen as much development as other areas near Prague - this is changing slowly - so, our advice would be to hold this property for the long term.

3. The argument that you made lots of money on the exchange rate and not so much on the price growth and therefore the original PS basis for investment in Prague is false, is debatable.

Our analysis looks at the growth of wages as a key factor in driving property value increases. Clearly, as the CZK has increased strongly against the Euro (and Czech is a strong exporter to the Euro zone and recipient of Euro based FDI) this will dampen wages. Equally, if the Czech currency was to weaken you could expect an increase in wages to off set those changes which would give you higher Czech property prices but not necessarily a better (or worse) result when converted back to sterling.

I hope this helps you and our other customers in some way and that you and our other customers appreciate that we have the skills and ability to analyse and understand and advise on property - but we don't have the ability to do it entirely for free.

This is an attempt to steer a reasonable course in giving you some free advice whilst also making it clear that more analysis is available - but that we have to charge in order to put food on the table, just like everyone else.

Please feel free to call us if you would like to discuss any of the services I have outlined here.

Cheers
Neil