Total commercial property investment in Ireland is likely to reach €3bn by year-end with increased regional investment.
This is according to a new report by Property Industry Ireland. The report compiles over 30 different property datasets from 20 sources to give an overview of the state of the Irish property market.
The report shows that housing completions are up 11% year-on-year in the third quarter with 12,000 expected in 2015 as a whole, total office transactions in Dublin reached almost 180,000m2 in the first nine months of 2015 (80% of 2015 total).
IT and Financial services dominate take-up in the Dublin office market.
Director of Property Industry Ireland, Dr Peter Stafford said, "Growth in the property sector is not uniform and so it’s hugely important that we monitor the state of the sector from as many different perspectives as possible.
"As investment and take-up in the commercial property sector grow, this places new pressure on public infrastructure. Likewise, while the volume of new housing is increasing, it will need to be monitored to ensure the right properties are coming on stream at the right time."
Source: www.businessworld.ie
