Brexit concerns appear to have had minimal impact, indeed there has been increased demand for Irish CRE & an increase in occupier enquiries as a result of the referendum
Almost 90,000m2 of office take-up recorded in HI 2016 & prime office rents remain stable at approx. €619psm (€57.50psf)
Currently more than 378,000m2 of new office stock under construction in the city centre (29 schemes)
Take-up in the industrial sector remains compromised by a shortage of modern accommodation with H1 2016 take-up volume down 35% on H1 2015
Prime industrial rents on target to reach €94psm (€8.75psf) by yr-end & prime industrial yields at 5.5%
Noticeable increase in cross-border shopping in some border towns as a result of Sterling weakness
Considerable increase in retail planning activity & evidence of increased provincial rents
Total returns up more than 3% in Q2 2016 with Investment in Irish CRE now even more compelling as a result of recent 10 yr bond rate declines
Prime yields remain steady although there may be some softening in pricing for secondary assets in due course
More than €400m of hotel transactions due to complete in the coming months
1,000 hotel rooms to be under construction in Dublin by yr-end
13 Dublin pubs totalling almost €18m sold H1 2016
Only 6,642 housing units delivered nationally in H1 2016, of which 1,993 units were delivered in Dublin
Visible increase in development output anticipated from this point forward in particular build-to-rent resi schemes & purpose built student acc.
