Survey: Commercial real estate activity to surge
Property industry professionals expect to see huge flux in the Irish market in the coming months, according to the latest Origin Capital Commercial Real Estate Sentiment Tracker.
The results of the survey completed by 250 respondents shows that, over the next three months,
- 67pc expect commercial rents to increase (30pc predict no change; 3pc expect a decline)
- 52pc expect the number of commercial transactions to increase (30pc predict no change; 18pc predict a decline)
- 61pc expect the price of commercial real estate to increase (33pc predict no change; 6pc expect a decline) - this is up from the previous Origin Capital CRE Sentiment Tracker (48pc in November 2016)
Origin Capital ceo Ross Metcalfe noted that the issue of Brexit continues to dominate the minds of property professionals , with much of their thinking focused on the Government's efforts to prepare Ireland for the UK's exit from the EU.
Over two-thirds (68pc) of respondents to the survey do not believe the Government is doing enough to prepare Ireland for Brexit , while the remaining 32pc believe sufficient measures are being taken.
Brexit was by far the most frequent factor cited by respondents in relation to specific risks to the commercial real estate sector over the coming three months.