Our Approach

IPI-Group Portfolio

Cross-Border Investments

Cross-border investments can reduce cyclical risks and thus improve profitability


Profitability is to a large extent dependent on good timing for purchase and sale

Cyclical Market

Cyclical market movements can often be predicted

Clear Strategy

A clear strategy for rental and sale needs to be in place at the start

Good Design

Good design does not cost more than bad solutions

Local Support

Local partners are essential and must be chosen carefully


Eco-friendly design pays in the longer term


Control of all phases in the construction and sales process reduces risk


One should avoid countries with unstable political and legal systems


We aim at entering a market near a bottom and exiting near a top.


Our approach to property investments is to a large extent guided by our in-house views of supply and demand in each area. We aim at entering a market near a bottom and exiting near a top. Easier said than done, predictions are always uncertain. But with close studies and direct investments in many residential markets over the past 30 years, we have been quite accurate in predicting turning points in values, enabling us with our investors to buy relatively cheap and then sell at a profit, once markets improved. Very rarely have we taken a loss caused by a wrong timing.
The past ten years have shown dramatic turns in fortunes. An euphoric optimism peaking in 2006- 07 in most western countries, has been followed by a prolonged slump which has only recently come to an end. Our cyclical indicators show a particularly strong rebound in the Spanish property market. Over the next years, we are therefore focusing on Costa del Sol where we had great success in our developments before the crisis.


Bright future

We believe the hike in European interest rates is reaching a plateau, and even reducing in 2024. Coupled with the above positive supply and demand factors, next few years should see a stable price development with values increasing at the level of inflation -or somewhat higher
The Spanish property market is likely to beat most other residential property markets in Europe in terms of value vs risk.
The only caveat is that transaction costs are exorbitant, reducing the expected net yields in a purchase- and sales strategy.

Land prices will continue to rise 

Well-priced plots in the best areas of Andalucía will become difficult to find as the supply dwindles. Land prices in all categories have already increased and are set to continue its upward trend.

American, European and Middle Eastern demand is increasing

The war in Ukraine has become an incentive for Ukrainians and Russians to move to Spain on vacation, as well as permanently. The war effect has also spilt into neighbouring countries like Poland, Belarus, Finland, Austria and the three Baltic states.
The recent stress on the US democracy has even led to US citizens buying summer holiday homes and permanent houses in Spain. Spain has always attracted Middle Eastern citizens; Iranians, Saudi Arabians, Iraqis etc, and there is no reason to believe that this trend will diminish.

A new era that pushes the limits of architectural design

Amazing, creative new projects will be put on the market, greatly inspired by Scandinavian contemporary design. Any seller with a traditional Andalucian-style house or apartment will find that the value of his property is worth less than if he had owned a modern design unit.

Short Description of Spain, Norway and Germany is found the the boxes below:
The dramatic fall in property prices has leveled out, creating new opportunities both on the mainland and on the islands. Costa del Sol is one of the most favorite vacation areas, and IPI has had great success with its construction of 56 apartments near Malaga. Sold during 2003, the investors made a 100 % return over the three year period and we believe we can repeat the success story. Therefore, we have purchased a 13,000 m2 property to build over 20 villas and townhouses (read more… Eco Mijas Garden).
Working closely with the Miraflores Group, we are acting as advisors on two other residential projects in the Malaga region (read more…  Plaza Miraflores).
Norway has for the past 40 years benefited from a rapidly growing economy, much thanks to the oil adventure in the North Sea. The government- controlled “oil fund” is now one of the largest sovereign investment funds in the world, making the people of Norway as the beneficial shareholders amongst the richest. House prices have been on a near steady increase for the past 20 years, falling only when oil prices softened. However, the de facto devaluation of the Norwegian currency 2012-16 also implies that values in USD or EURO terms are well below the peak, even in Oslo, the capital. We are adopting a cautious approach to investments in this area.
Europe’s strongest economy. The capital grows rapidly, both in population and in financial terms. Berlin house prices are still very affordable, much due to strict rental regulations, implying that rental incomes do not reflect the true state of supply and demand. The relatively strong increase in house prices, particularly in Berlin, can therefore only be explained by the corresponding fall in cost of borrowing. As interest rates are now bottoming, we believe that traditional investment in buy-to-let apartments have limited up-side over the medium term. In 2015 we therefore sold all 1 400 apartments in Berlin which we had managed for Eiendomsfond Tyskland I AS since 2006/07. The two remaining blocks of flats owned by Bolig Berlin AS have also just been sold (at a very healthy profit).
We believe commercial real estate has a brighter future, and we are therefore currently evaluating office premises in Berlin. These will benefit from the economic upturn but will not be affected by rent restrictions.