The 42nd International Congress of the UIPI took place in Lisbon, Portugal, on September 19-22, of UIPI - Celebration of the 125th Anniversary of ALP (Portuguese Association of Property Owners) and the 90th Anniversary of the UIPI. The Keynote speaker American economist Professor Nouriel Roubini, on the topic: "Financial Crisis and Real Estate" was rather optimistic on the future of european economies and real estate markets, but called for less austerity, since he is afraid of overtaxation of real estate property and fiscal "fatigue" of taxpayers. See the video and the photos of the Congress at http://lisboncongress2013.alp.pt/ . Read more on the Press Release of UIPI...
42nd Congress of the UIPI:
The Slow recovery in real estate should not be hindered by further austerity
The International Union of Property Owners (UIPI) has held its 42nd Congress in Lisbon, Portugal to discuss the Financial Crisis and Real Estate.
The congress, hosted by the Lisbon Landlords Association (ALP), coincided with the UIPIs 90th anniversary and the 125th anniversary of the ALP. It brought together more than 200 representatives from property owners associations across Europe.
The key note speaker was the world famous economist, Nouriel Roubini, who shared his views on ways out of the crisis and the future of the global and European property markets.
Nouriel Roubini said:
There are some signs of recovery, even if some European real estate markets are still at risk of threadiness. Too much fiscal austerity, too quickly, too soon is a risk for the economy. It is necessary to back out of some of these adjustments in order to avoid damaging the economy.
The UIPI President, Stratos Paradias, added:
Property owners still have challenging times ahead of them: Taxes on property are increasing across Europe in order to reduce national deficits; rental markets remain weak; homeowners have difficulty in paying their mortgages; more and more tenants cannot afford their rent which increases the risk of landlords falling into mortgage arrears; on top of that building norms and requirements as well as tenancy law favoring tenants progress. However, there are indeed signs of a slow recovery and property owners will survive this crisis in the same way that buildings survive their owners. However, it is crucial that this recovery is not hindered by further austerity.