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07/08/2009
Commercial Property Market 'Increases'
Much-needed 'signs of life' are emerging in the Irish commercial investment property market, according to agents Lisney.
The group said movement has been recorded in the past month, following a lull in activity over the last quarter.
In its mid-year bulletin, Lisney said that despite weakening values in the second quarter, falling rates have decelerated.
"There was almost no transactional activity in the first five months of the year," Managing Director Peter Stapleton said.
"Despite the lower prices there was no real appetite to purchase.
"However, in the past month or so the investment market is finally showing some signs of life again," he added.
Rental values are still under pressure, although there have been increases in yields.
"When rents find a sustainable level, investors will return to the market in greater numbers with the confidence that future incomes are more secure," said Mr Stapleton.
Lisney said it has experienced more overseas investors interested in Ireland, and in particular Dublin, over the last quarter.
(PR/BMcC)
The group said movement has been recorded in the past month, following a lull in activity over the last quarter.
In its mid-year bulletin, Lisney said that despite weakening values in the second quarter, falling rates have decelerated.
"There was almost no transactional activity in the first five months of the year," Managing Director Peter Stapleton said.
"Despite the lower prices there was no real appetite to purchase.
"However, in the past month or so the investment market is finally showing some signs of life again," he added.
Rental values are still under pressure, although there have been increases in yields.
"When rents find a sustainable level, investors will return to the market in greater numbers with the confidence that future incomes are more secure," said Mr Stapleton.
Lisney said it has experienced more overseas investors interested in Ireland, and in particular Dublin, over the last quarter.
(PR/BMcC)
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