News Formal

Turmoil in €50bn commercial property market as investors hand office keys back

  • 📰 businessposthq
  • ⏱ Reading Time:
  • 12 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 71%

Business News News

Business Business Latest News,Business Business Headlines

Investment funds move to seize control of offices as borrowers default on loans while analysts forecast that up to €10 billion could be wiped off the value of Ireland’s commercial property market

Investors have started handing back the keys to their office properties as the crisis in Ireland’s €50 billion commercial property market deepens, the Business Post can reveal.

As asset values continue to plunge amid a historic cycle of interest rate hikes, owners have begun surrendering properties to lenders in a sign of acute stresses that have emerged in the market over recent months.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Citigroup's Q3 investment banking fees jumpCitigroup's profit was broadly steady and beat third-quarter estimates as it benefited from rising interest payments and surging investment banking fees, the bank said today.
Source: RTEbusiness - 🏆 16. / 61 Read more »

Permanent TSB to change its name to PTSB as part of €5m rebranding investmentThe Irish lender said the rebrand of its name and logo is the first significant change since the merger of Irish Permanent and TSB Bank back in 2002
Source: businessposthq - 🏆 8. / 71 Read more »