A research produced by
Recovery well underway in the Dublin office market – Vacancy rates falling, prime rents now rising.
Retail conditions gradually recovering with improvement in the labour market and some pick-up in consumer sentiment. However, trading conditions to remain challenging in secondary and regional markets.
H1 investment turnover = €610m; 77% up on H1 2012 and 5% higher than full-year 2012.
91% of turnover (€555m) concentrated in Dublin market.
48% of investment in office properties.
Irish investors = 52% of investment spend, US investors = 26%.
Irish Institutions particularly active, but new institutional investors also coming into the market.
52% of investment turnover involved lot sizes > €50m.
No shortage of well capitalized buyers. However supply continues to be a constraint.
Yield compression continuing due to competitive bidding.
€200 million turnover in loan sales.
First Irish Real Estate Investment Trust (REIT) successfully launched by Green Property in June. It is rumoured that a second REIT promoted by WK Nowlan and Willett Companies will be launched this autumn.
Demand for prime multi-family opportunities increasing.
Source : Savills
