Friday 23 June 2017

Rising rents 'may hit Brexit relocations'

(Stock photo)
(Stock photo)
Gavin McLoughlin

Gavin McLoughlin

The head of one of Ireland's top real estate advisory firms has warned about rising rents in the commercial property sector.

Killian O'Higgins, managing director of WK Nowlan Real Estate Advisors, said Dublin risked pricing itself out of the market for Brexit relocations.

"If you look at a chart of rents, you will see Dublin is relatively expensive, compared to Frankfurt, Amsterdam and Brussels," O'Higgins said in an interview with the Sunday Independent.

"It's not all about the price of offices... we just need to be careful that we don't put people off on the basis that the overall package is too expensive."

He said "quite a few" people in the sector are urging caution on the quantity of office building in the capital.

"You've got a volume of construction that's going on at the moment for delivery through 2018, 2019, 2020…that volume of construction is quite significant, there should be people out there to take it up, but how much more would you actually add to that?

"There's quite a few people at the moment looking at that and saying we need to be careful."

Sunday Indo Business

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