Land values down 90pc from peak
Building land values outside Dublin have fallen by as much as 90pc from their peak levels, according to CB Richard Ellis Group.
Development land in Dublin has dropped on average by “at least” 50pc, CB Richard Ellis said in a report today.
“It would be premature to say that the property market is likely to experience a rebound in 2010 but there are certainly signs that sentiment is slowly improving,” said Guy Hollis, the managing director of the company’s Irish unit.
“The reality is that it is going to be 2011 before we see any discernable turnaround in performance.”