Irish property market - more independent market information needed
Amid unprecedented turmoil in the Irish property markets, there are still some major barriers to investment – most notably, the lack of finance. Securing debt remains the biggest stumbling block for the property market, according to a new research paper by the College of Estate Management.
But despite this, the Irish love affair with property – though severely tested – has not gone away. The research finds that the Irish commercial property market would really benefit from greater transparency, achieved through producing more independent market reports on commercial real estate in Ireland.
CEM’s study is based on two online surveys on Irish property investors’ attitudes towards investment in commercial property. One survey was carried out in 2008 and the other in 2011 to see how investors’ attitudes had changed amid the global economic crisis.
Secondary research found that market transparency in terms of transactional evidence and research in the Irish home property market is relatively opaque compared with other larger European property markets.
Currently most commercial property investment reports on the Irish market for public consumption, while helpful, cannot be viewed as impartial commentary.
The home market would greatly benefit if more independent research and accurate transactional evidence were available, to give a more complete picture of the market to both domestic and foreign investors. Such information would allow occupiers and owners to operate with greater confidence.
Survey results also indicate that over the next three years, modern, well-let city centre offices will be sought after, whereas modern suburban offices, older city centre offices, Georgian offices and retail properties in the Irish investment market will be most prone to further falls in value.
Meanwhile those Irish investors in a position to acquire international property investments will be extremely cautious, and will only be seeking modern, fully-let properties in prime locations. There is now a clear shift in preference among Irish investors to prime investments in mature Western European markets as opposed to investments in the emerging markets.
The Irish Investor’s Attitude Towards Commercial Property Investments in 2011 And Beyond by David Hourihan is published by the College of Estate Management.
[edit] Related articles on Designing Buildings Wiki
Featured articles and news
A briefing on fall protection systems for designers
A legal requirement and an ethical must.
CIOB Ireland launches manifesto for 2024 General Election
A vision for a sustainable, high-quality built environment that benefits all members of society.
Local leaders gain new powers to support local high streets
High Street Rental Auctions to be introduced from December.
Infrastructure sector posts second gain for October
With a boost for housebuilder and commercial developer contract awards.
Sustainable construction design teams survey
Shaping the Future of Sustainable Design: Your Voice Matters.
COP29; impacts of construction and updates
Amid criticism, open letters and calls for reform.
The properties of conservation rooflights
Things to consider when choosing the right product.
Adapting to meet changing needs.
London Build: A festival of construction
Co-located with the London Build Fire & Security Expo.
Tasked with locating groups of 10,000 homes with opportunity.
Delivering radical reform in the UK energy market
What are the benefits, barriers and underlying principles.
Information Management Initiative IMI
Building sector-transforming capabilities in emerging technologies.
Recent study of UK households reveals chilling home truths
Poor insulation, EPC knowledge and lack of understanding as to what retrofit might offer.
Embodied Carbon in the Built Environment
Overview, regulations, detail calculations and much more.
Why the construction sector must embrace workplace mental health support
Let’s talk; more importantly now, than ever.
Ensuring the trustworthiness of AI systems
A key growth area, including impacts for construction.