CBRE Ireland: Northern Irish Consumers Crossing Border for Shopping
Published on Mar 2 2015 12:18 PM
Commercial property consultants CBRE Ireland has released its first analysis of trends for the Irish commercial property market this year.
Although transactional activity has not reached the levels of 2014, particularly for the fourth quarter, CBRE expects an increase in retail properties becoming available during the year.
The consultancy group has also revealed that there has been an increase in demand for accommodation in the better shopping and high street areas around the country, particularly amongst coffee shops, restaurants and food providers.
Interestingly, the report also details that border towns have been reporting stronger trading performance recently, as a result of Northern Irish consumers travelling south to benefit from the currency rate differential between sterling and euro.
According to the author of the report Marie Hunt, Executive Director and Head of Research at CBRE Ireland, “We are seeing increasing appetite from both local and international institutional investors, particularly in light of the attractive returns being generated from Irish real estate in the current low interest and low inflation environment.”
Hunt added, “The market is transforming from one dominated by opportunistic investors to one that is being targeted by an increasing number of core investors with several new entrants emerging over recent months, which is encouraging”.
© 2015 - Checkout Magazine by Hannah Popham.