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SALES have doubled in Dublin's industrial property market, figures released by Savills Ireland have revealed.

Savills said the proportion of transactions that resulted in a sale doubled in the last year and that the vast majority of sales were to cash buyers.

Many of them were business people using the opportunity to buy a vacant business unit at all-time-low prices, the property experts added.

Gavin Butler of Savills said: "For the first time since 2008, vacancy rates have fallen for two consecutive quarters as take-up outstrips the supply of space coming to the market."

The main findings outline that sales accounted for 46pc of all Q3 transactions, up from 41pc in the second quarter and 20pc in the first quarter. And south west Dublin continues to dominate with almost 80pc of Q3 take-up occurring in this location.