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Retail Property Market Set For Growth This Year, CBRE Report Finds

By square1
Retail Property Market Set For Growth This Year, CBRE Report Finds

CBRE is predicting "stronger volumes of activity in the Irish retail property market over the next 12 months", according to its Outlook 2014 report, issued earlier today.

"In addition to existing retailers expanding and relocating, several new retailers are expected to make their Irish debut this year as international retailers increasingly focus attention on Ireland," the report explained.

The property consultants forecast an even busier year in all sectors following a year that "marked a major turning point for the Irish economy", according to Enda Luddy, Managing Director at CBRE Ireland.

With regard to retail, rental growth is expected to re-emerge for the first time in more than six years, "albeit limited to certain prime high streets and shopping centres for the foreseeable future."

According to Marie Hunt, Executive Director and Head of Research at CBRE Ireland, “Technological change and globalisation are the two trends that will dominate the next real estate cycle, affecting each sector of the market in a variety of different ways.

Technological change is shaping the office sector as trends such as remote working and hot-desking gather momentum and occupiers use buildings in a different way. It is affecting the retail sector with an increasing proportion of retailing being done online, which in turn is fuelling demand for more modern logistics and distribution facilities."

© 2013 - Checkout Magazine by Stephen Wynne-Jones

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