As the Irish economy enters what is expected to be it’s third consecutive year of growth, there is a greater sense of renewed confidence than in 2012, which was in itself a turning point. The flexible nature of the Irish economy has allowed for a considerable adjustment in competitiveness which in turn has allowed Ireland to remain a key location for international investment, from US multi-nationals in particular. Exports have and will continue to lead economic activity - with the value of exports exceeding €92 billion in 2012, the highest level in a decade.
Ireland Key Points 2013
- Total investment market turnover in 2012 reached €576m
- €560m (97%) was transacted in the Dublin market
- 5 office transactions made up 48% of the value of turnover
- 75% of turnover by value was in the office sector
- 31% of turnover by value was for lot sizes > €50m
- 40% of spend was by US investors
- 30% was by private Irish investors
- Demand to continue and widen from base seen in 2012
- Irish institutions to return to the market
- Supply of prime assets to increase
- Multi-family sales set to remain a feature of the Irish
- Loan sales to becoming an increasing feature of the market
- REITs, allowed for in the Budget 2013, to improve liquidity
- Dublin office occupier market conditions are positive –
- supported by no completions and consistent demand for
- Grade A and good Grade B space
- Prime retail yields to be tested by larger lot sizes
- Retail occupancy rates remain strong for prime locations
- Dublin’s prime shopping streets – Grafton Street and Henry
- Street remain effectively fully occupied – with a small number
- of units trading but available
- Turnover expected to reach €1 billion in 2013