Suddenly it became like other employeesClimatologists from around the world were meeting in Paris next FebruaryThe end of the year is difficult for Richard FuldThis last block refute this interpretationSince a few months the deal however is changingThe problem is that in this case is matter of dosageIt should be so for the sharing of profits000 sales of Mini III as early as 2007 iA first intended travel to boost relations between the France and the MexicoThe use of the Internet is of course freeIn stone paper, during the crisis, the business continues. The civil societies of real estate investment note identical to the other years collection. Several factors explain this stability: yields remain high and individuals are less exposed to the tightening of the conditions of credit from acquisitions in physical real estate. In addition, said Daniel While, analyst at the (Institute of real estate and land saving) IEIF "SCPI shares are defensive placement of long-term less reactive to the ups and downs of the economy than other investments." However, before embarking on this investment, two elements must be distinguished: the share price and performance.
For the time being, the consequences of the crisis reflect particularly on the first aspect. Still necessary to distinguish between SCPI to fixed capital and SCPI variable capital. In the first case, the value is directly related to the holding of the secondary market, the investor could sell only if there are candidates for the purchase. In this case, the trend is rather bearish. "But you need to know that it is a low volume market which represents 2 of the total of shares of SCPI, says Daniel While, recorded actually slightly less buyers and sellers, but it was assumed a situation where there were more buyers than sellers." Therefore, there is no massive withdrawals. "With the SCPI variable capital, are bought and sold when the value of withdrawal usually fixed annually at year-end by the Manager. However one of the main actors in the market, UFG Rem, has recently decided to lower the price of shares in its SCPI 6 variable capital. "It was for project us to the end of the year and anticipating the decline by"gluing"more about the evolution of the real estate market", indicates its General Manager, Marc Bertrand.
Regular income
"In the current context, the decline in values is inevitable, is Patrick Lenoël, Director General of Paref, another important player in the sector. But, says, do not cry wolf because, for the moment, the variations are very low and do not necessarily require a decrease in the price of the shares. This is the case of our SCPI shops. "One thing is certain, as concludes Christian Michaux, initiator of the site PierrePapier.fr (),"investors should not rely on the value of its shares. In contrast, side yields, professionals remain quite confident. "They will continue to oscillate between 5 and 6 net of expenses," prognostic Christian Michaux. In fact, notes Daniel While "rents are well." Performance, which was of the order of 6 on average of the price of shares at December 31, 2007, has no reasons to decline, unless we are entering a major economic crisis. "It is also the opinion of Patrick Lenoël for real estate offices:"It is protected in Ile-de-France by a very diverse market, with variable and acting companies in all sectors."
"A long-term horizon, the SCPI provide regular income and capital finally little exposed to turbulence analysis Christian Michaux, when it was a small capital and sought to capitalise for retirement, it is a very good option, so you can even buy on credit." With 20 of supply and 80 of credit, banks follow and allow to borrow at 5 when the net performance of a SCPI is around 5.5. In addition, real estate in shares is more easily than physical real estate sells. "Whether if the vacancy rate and litigation will not explode with the economic crisis. "In 2009, it will be probably more difficult to re-lease vacant premises, explains Eric Cosserat, President of Périal, but one was not expected the crisis to worry and renegotiate the rental levels when necessary.". The SCPI to Paref, businesses are always more resistant to crises. Still necessary that the purchasing power does not degrade too. However, with a low effort of savings of the order of 10,000 to 20,000 euros minimum can afford without too much risk of stone in shares. Must build on the SCPI that offer the best performance. In this case the SCPI say performance (or income) who invest for the most part, in the real estate (offices, business premises, warehouses,...) and in which different categories of SCPI Lodge: diverse classics, the walls of stores, the regional, the international diversified... "With 20,000 euros, it is difficult to invest in more than a SCPI, is better in this case Christian Michaux preferred a classic SCPI diversified, shows, but if the investor has at least 40,000 euros, it may consider doing half half: 20,000 euros in diversified traditional SCPI and 20,000 euros in walls of stores.".
