Survey shows Irish investment market has turned the corner
A new Europe-wide commercial property sentiment survey indicates the Irish investment market has turned the corner.
The survey shows that challenges remain in Europe outside Germany and Belgium.
The new Occupier Sentiment Index was carried out by the Royal Institution of Chartered Surveyors to measure sentiment in the occupier market.
The index returned negative readings for most of the 15 countries surveyed, with Greece and France occupying the bottom slots of the country rankings. Ireland ranked fourth behind Romania and Germany, with Belgium claiming the top slot.
Eamonn Maguire, chairman of the Society of Chartered Surveyors Ireland, said that Ireland's position was reflective of the increase in demand for prime commercial space from multinational companies seeking to locate here.
"Sentiment in the commercial market has definitely shown signs of improvement, in particular from international companies seeking to locate here.
"The big concern, as recently highlighted by the IDA, is the lack of availability of suitable space for international and high-tech firms seeking to locate here", Mr Mcguire added.
Commenting on the investment market, Mr Maguire said: "As the report shows, investment activity in Ireland has picked up and this is primarily due to some recent high-profile purchases by international investors. The recent launch of two Irish Real Estate Investment Trusts (REITs) also shows investor confidence in this country is improving".
The survey also suggests that the recovery in the UAE is continuing to gain traction. Brazil's property market, however, is rather more downbeat.