Volume of commercial property deals to hit boom time levels of €4bn this year
THE volume of deals in the Irish commercial property sector – direct purchases and loan sales – are set to hit the €4bn mark this year, figures not seen since the boom times.
The €4bn figure is €600m ahead of the 2006 investment level.
And €800m was invested in the sector in the second quarter, a new report from Jones Lang LaSalle shows.
Deals worth hundreds of millions have also been linked to the sale of properties by NAMA and some of the banks.
“There is a large supply pipeline for the second half of 2014, with NAMA, Bank of Ireland and Ulster Bank expected to be the most significant sellers in the next 6 months,” said Hannah Dwyer, head of research, JLL.”The demand for Irish property assets remains strong, with new investors continuing to enter the market. As a result, we expect total volumes for direct and loan sales to hit €4bn this year, which is €600m ahead of the peak in 2006.”