Investment in commercial property down 73% on Q2 last year - BNP Paribas

Irish market suffered third sharpest slowdown in spending across Europe in Q2

Dublin: Slow adjustment of asking prices to the small size of the commercial property market in the capital have fuelled the drop in spending, according to research. Picture: Getty

Commercial property investment almost halved between the first and second quarters of 2023, with market turnover between April and June at its weakest in six years, according to new research.

Investment dropped 47 per cent in the three months to June and was down 73 per cent on the same period in 2022, as the Irish market suffered the third sharpest slowdown in Europe.

€333.4 million was invested in commercial property in Q2, according to ...