Irish commercial property market could lose €10bn in value in 2023
Significant write-downs are expected in response to rising interest rates and reduced demand, while values across retail, industrial, logistics, office and residential units could fall between 10 and 20 per cent this year
Up to €10 billion could be wiped off the value of commercial property in Ireland this year due to rising interest rates and weakening demand, an analysis by the Business Post has shown.
Market analysts are projecting that commercial property values across retail, industrial, logistics, office and residential units will fall between 10 and 20 per cent this year in response to the changing economic environment.
With more than €50 billion-worth of professionally managed investment ...