Investors have €3bn to spend on Irish properties
Demand for Irish commercial investment property is quite strong and investors may be willing to spend up to €3bn.
This is the view of Duncan Lyster, director of Lisney, who will elaborate on his views at a Lisney property seminar taking place today in Dublin.
He also believes that prices for prime Dublin offices are beginning to edge up and expects that more evidence of this is likely to be seen in coming months.
"Yields for such offices may fall by a half a per cent," he adds. However he feels pricing may come under further pressure in secondary markets. He also expects retail property to attract more activity but the price effect for these will not be as strong as for offices.
About 80pc of the interest in Irish property is coming from overseas investors.
Michael Lindsay, head of corporate finance at Cushman & Wakefield predicts €20-€25bn of loan sales in Europe next year as banks accelerate their deleveraging plans.