Property Year In Review

Interest rates and elevated construction costs made greatest impact on market

Delays in the planning system, sustainability and building occupancy have also contributed to challenging environment

Working from home and hybrid working are feeding into the growth in grey space.

With interest rates reaching 22-year highs in the EU and US this year, the investment market continued its process of price discovery.

MSCI data show overall CRE capital values in Ireland fell by 14 per cent in the 12 months to end-September 2023 and by 21 per cent in three years.

Prime yields generally drifted out by 50 to 125 bps in the year with offices and PRS impacted the most and retail and industrial ...