Originally Posted by Zenify
All Glenveigh do is build residential properties in the cities around Ireland. I had a look at the share price chart and its fallen off a cliff since the middle of summer. Anyone have any ideas why? Very interesting Andycap8, thanks for sharing.
1) All the Europe stock market is down for ~10% since June, while Irelands Stock Exchange is around 15% down.
2) Expectations on constructions sector. On the negative side regarding construction in Ireland, is the slowdown in price/demands, while increase in costs, in particular shortage of labor, and some materials like timber and steel etc. For this year they plan to reach capacity of 800units. And increasing to 1400 by 2020. Unfortunately this won't happen if the property price won't go up, since the costs would go up anyway.