Irish Commercial Real Estate Market Set for One of Weakest Years on Record
- Investment is well below the average 3Q spend of €788 million
- The slump in transactions mimics Europe-wide problem
Office and apartment buildings in the 'Silicon Docks' area of central Dublin, Ireland.
Photographer: Paulo Nunes dos Santos/BloombergThis article is for subscribers only.
This year will be one of the weakest on record for the Irish commercial property market, data from a real estate agent suggests after below average transaction levels in the third quarter.
Investment in commercial property in the country totaled €430 million ($454 million) during the three-month period, research by the agent Sherry FitzGerald found. That capital spend is far below the long-term third-quarter average of €788 million.