Irish Commercial Real Estate Deals Plummet as Buyers Bide Time
- Investment in office space dropped 83% as interest rates rose
- Q4 commercial property spending down 62% from year prior
Offices in the Docklands area in Dublin, Ireland.
Photographer: Patrick Bolger/BloombergThis article is for subscribers only.
Investment in Irish commercial real estate plummeted in the final quarter of 2022, amid uncertainty over rising interest rates and subsequent asset pricing.
Deals for office space slumped 83% in the fourth quarter, while investment in warehouses and other industrial properties evaporated almost entirely, according to unpublished data from real estate firm Jones Lang LaSalle Limited.