GARBSEN, Germany, June 5, 2013 /PRNewswire/ --
Lessons for government looking to kick-start construction
As the remarkable rise of Gold turns into an even more remarkable decline, investors are looking increasingly to German property as a viable cash shelter, according to leading German construction and development business Dolphin Capital GmbH. Charles Smethurst, the firm's Garbsen-based CEO, said investor activity in the sector "is growing exponentially," citing the strong tax incentives offered to people who back the refurbishment of German listed buildings. And, he says, there's a "lesson for governments the world over who are seeking to boost economic activity through their construction industries."
Founded in 2008, Dolphin Capital GmbH develops listed buildings in German cities into apartments. It chose to focus on the listed niche in large part due to a tax relief associated with the refurbishment and ownership of listed buildings, and it is this incentive that, Smethurst believes, has helped Germany's construction industry continue to contribute significantly to the economy at a time when its counterparts in other countries have struggled.
"We have a shortage of apartments and a surplus of empty buildings which couldn't be knocked down due to their heritage", Smethurst said. "The government saw an opportunity to solve two problems with one solution - the tax incentive is attractive for property developers and incentives, and so they help create the apartments which in turn fulfil a market requirement."
"In places like the UK there is a constant cry for good quality housing, yet very few incentives for the industry to use what is already in place to best effect. If governments want to re-energise their economies, picking the right incentives for the right industries is key to kick-starting economic growth."
Smethurst also believes that more people will look at German property as the Gold bubble bursts. "We've seen many people looking at the opportunities German property offers as the price of Gold drops, and as it continues to decline I expect us to see enquiries from potential investors increase as they look for alternatives."
Notes to editors
About Dolphin Capital GmbH
Dolphin Capital GmbH is a property development business specializing in renovating listed buildings in Germany and developing them into apartments aimed at German buyers who avail of a unique tax break.
Founded in 2008 by Charles Smethurst, a German national with over 30 years of experience of developing property in Germany, Dolphin Capital GmbH are now the largest developer of listed buildings in Germany.
The company is head quartered in Germany, with offices in the UK, Ireland, Singapore, Japan and Malaysia.
For further information please visit http://www.dolphinig.co.uk/.
SOURCE Dolphin Capital GmbH