Donald Trumpets UK property market's recovery

June 24, 2008 by OPPE News

US property developer Donald Trump has predicted the UK housing market slowdown will not end up as bad as has been seen in America. Mr Trump told The Times the US crisis had been caused by over-building, a problem said to not be so severe in the UK.

Mr Trump is currently in the middle of dealing with an inquiry into his ambitious plans to build a golfing resort by the sea in Aberdeenshire, Scotland. Called Golf Links Scotland, the development is earmarked for a three-mile stretch of coastline near Balmedie.

Mr Trump told the Times:

“The property market will continue to fall until the credit crisis ends. I think that will be in the next 12 months.

“The problem with the US market is nothing to do with supply and demand, it is because people cannot get credit.”

He also told the paper

“a lot of downside has already taken place”

, adding

“now, I tell people to buy real estate. There are real opportunities now“.

Mr Trump has previously told Sky News that the planned two-course development, also featuring a five-star hotel, would make the local area “environmentally better”. Many local people are opposing the plans, while some local businesses are in favour of the project.