Commercial rents starting to plateau, but apartments providing rich dividends
Tenant resistance and level of office development tempering rents in our cities
As at the end of September, investment in real estate was approximately €2.8 billion – exceeding the €2.3 billion for the entire year in 2017, and I expect the market to deliver a figure over €3 billion for the full year.
Yields on private rented sector (PRS)/multi-family investments have moved significantly lower this year, with Savills and CBRE reporting net yields of 4 per cent, suggesting gross yields of 5 per cent for well-located, good-quality assets.
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