Commercial property prices could fall 23 per cent in the next two years, Bank of Ireland warns

Economic modelling carried out by Bank of Ireland has found that commercial property prices in Ireland could fall by 15 per cent this year and 8 per cent in 2024 in a worst case scenario for the market

Bank of Ireland has warned the commercial property market faces a number of structural headwinds this year. Picture by Fergal Phillips

Commercial real estate prices could fall by as much as 23 per cent over the next two years, according to worst case scenario modelling by Bank of Ireland.

Announcing full year results for 2022 on Wednesday which showed a 15 per cent increase in operating profits to just under €1.35 billion, the bank warned that Ireland’s commercial property sector faced a number of structural headwinds this year that would drag down prices.

In its latest ...