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Investment Market

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Investment Market

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

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