At present there is a buying spree taking place within the Irish Commercial Property market. Foreign buyers are keen to snap up the prime assets in Dublin.
Analysts predict that these commercial deals that are taking place will top €1.2 billion in 2013. So who are these buyers? Well, Kennedy Wilson is the main player and is leading the investors’ buying spree of Dublin commercial property. They invested €306 million this week for the Opera/Castle Market Holdings portfolio. This portfolio includes the Bank of Ireland building on Mespil Road in Dublin 4 and it also owns a stake in the bank itself. Other recent purchases include the State Street building on the docklands for €108 million, the Clancy Quay development near Phoenix Park for €40 million and the Gasworks apartment complex in D4 for €84 million.
Dublin has attracted investors from many countries in the past 18 months including America, Britain, Germany, Israel, Canada and beyond.
So why are these investors suddenly interested in Dublin? Are they mad after what happened back in 2008? Apparently not according to consultants the figures from property agencies reflect an increase in sales volumes, and prices are slowly but surely beginning to creep up, yields are beginning to decrease and the supply is now getting tighter.
So what are your views on the Commercial Property Market? If you were an investor would you invest like the others?
That’s all for today! We hope your week is going well!
Tuesday, July 30, 2013 in Blog