Is investing in homebuilders a contrarian move?

As a value investor, you don't have to be a contrarian, but if your focus is on the long term while the market's focus is on the short term, then you will inevitably engage in contrarian investing from time to time.

One of those contrarian investments is my investment in real estate developers. Of course, I am aware of the short-term pain that can be endured, but with a selection of three developers operating in different regions in Europe and with different risk profiles, I believe I can profit when the market turns.

Each of the individual stocks represents only a small percentage of my portfolio, but together they constitute one of the larger positions.

The company below, in my opinion, is the least risky of the three.

I introduce you to: