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

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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.

 

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