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Spain and Ireland look to REITs for roads out of real estate

Spain and Ireland, the two eurozone countries worst affected by real estate crises that have damaged their banking systems and plunged their economies into recession, are, despite very different approaches to dealing with their property problems, both implementing new REIT regimes in 2013, the European Public Real Estate Association (EPRA) said. Madrid and Dublin see real estate investment trusts listed on the equities markets as one of the most effective and transparent ways of recapitalising their property sectors.Philip Charls, CEO of EPRA, said: “The Spanish and Irish governments have realised that the best way to attract domestic and international capital into their real estate markets and so underpin banking systems that are l...[…]