Norway Oil Fund to now Buy Prime Foreign Land?
|November 7, 2013||Posted by Staff under Inequality / Concentration|
The Norwegian government has had a sovereign wealth fund, which collects income from their oil, for many years now and it was worth $810 billion at the last official valuation.
While the managers of the Norway sovereign wealth fund have already been looking at the European property market, a revelation today shows that there could be a significant investment in worldwide property by the fund in the short to medium term.
As the price of UK property continues to move higher and higher there are now serious concerns that first-time buyers may become a thing of the past.
European property appears on the surface to be undervalued on a long-term basis although there are concerns that Spanish and Portuguese banks in particular are about to dump an array of unwanted properties on the market.
The UK property market is seen as something of a safe haven in light of problems within Europe and with investors such as the Norway sovereign wealth fund looking towards the UK in the short term and Europe in the medium to longer term.