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Investment in commercial property down so far this year

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Investment in Irish commercial property totalled €430 million between July and September, new figures show.

However, it says capital spend remains well below the long-term average for the third quarter of €788 million.

During the same period, the value of land sold for development purposes reached €226 million, approximately half that recorded for the same period the previous year. The data shows that the volume of transactions in both markets so far this year was down by just over a third compared to the same period last year, with 57 development land sales and 91 investment sales closing during the period.

In the development land market, only 2% of all sales since the beginning of the year were valued at €15 million or greater, while in the investment market only 9% of acquisitions were €50 million or greater.

 

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