'Not all the papers warranted conclusions, being more the basisforfurther research,' says Bob Thompson, e-commerce partner at KingSturgeand president of the European Real Estate Society, 'butthediscussion on monetary union brought positive responses from anumber ofBritish analysts. Being part of the Euro will take awaythe cross borderrisk of property investment. It would also lead tomore efficienteconomies which, in turn, would stimulate propertydevelopment.'

'There is, at worst, tacit acceptance that monetary union wouldbebeneficial to the pan European property market,' says Thompson.Fears ofinflationary pressure created by joining the Euro were alsocountered bythe general feeling that modest inflation has,historically, been goodfor the property world, stimulatingincreases in both rental and capitalvalue. Thompson says, 'A littleinflation has often been a positiveinfluence when it comes to realestate.'

Over 300 participants from 37 countries, including Thailand andEstonia,attended the eighth annual ERES conference. The next one isscheduled for Glasgow.

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