Worth a read….
The days of 80 per cent property ownership among the Irish population are gone, real estate agency JLL has said. In its report previewing both the commercial and residential property market in Ireland in 2018, the group said the market of the future will see between 40 and 50 per cent of people renting.
Every house buyer knows the drill: when it comes to choosing a location to buy, and to stand any chance of spending one’s money well, it helps to see what areas will soon be on the up and up. It’s an imprecise science, but there are a few helpful indicators.
Patrizia, which has assets of €20bn under management across 15 countries, entered the Irish market in 2015 with the acquisition for €15m of 63 apartments at the Park Lodge development near the Phoenix Park in Dublin. That purchase was followed up a short time later when the German fund paid €140m for the Oval office development on Shelbourne Road in Ballsbridge.
The “remarkable recovery” in Dublin’s office market is now “largely complete” as rental prices edge towards €65 per sq ft, analysts from Goodbody Stockbrokers said. In a note to clients, analysts Colm Lauder and Eamonn Hughes forecast headline rents of €65 per sq ft, near 2008 levels, to remain this year on the back of continued occupier demand, despite a pick up in supply levels.