High Rise And Fall: The Making of the European Real Estate Industry - a podcast by Richard Swan This Week in Property

In today's show, Richard sits down with Andrea Carpenter, author of new book 'High Rise And Fall: The Making of the European Real Estate Industry'

10 years on from the 2008 financial crash, Andrea reflects on how the European commercial property industry transformed from a local, small-scale business to an international, financially sophisticated, multi-billion-euro industry that was ultimately left devastated.

Drawing on her experience as both former Editor of EuroProperty, and Director at the European Association for Investors in Non-Listed Real Estate Vehicles (INREV), Andrea explains how the mid-1990s saw the arrival of a new style of property investing in the European markets.

Seeking high returns, impervious to risk and with a seeming indifference to the buildings at the heart of the deals, US players such as Morgan Stanley, Goldman Sachs and Lehman Brothers conquered the European property markets with an audacity that both repulsed and intoxicated the locals.

Fuelled by improving economic conditions in the early 2000s, European investors were keen to emulate all or parts of the US investors’ philosophy. Armed with a wall of capital, the industry expanded into the far reaches of Europe in search of returns, and piled on new risks that it did not completely understand...

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• Hear Andrea's journalistic curiosity that helped her to tell the fascinating story to the latest generation of property investors...
• 10 years on from the global financial crash of 2008, Andrea picks over the wreckage...
• How the single European currency in the 1990s saw the arrival of a new style of property investing...
• How the US players such as Morgan Stanley, Goldman Sachs and Lehman Brothers conquered the European property markets with an audacity that both repulsed and intoxicated the locals...
• How the industry expanded into the far reaches of Europe in search of returns, and piled on new risks that it did not completely understand...

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