Commercial Property
Planning uncertainty and lack of sites likely to slow development land sales
Higher costs and viability concerns mean lenders will be likely to support smaller housing-led schemes over developments with a significant risk profile
The development land market saw nearly €1 billion in market spend last year, but is getting off to a slower start this year, due to the uncertainty in the planning process as well as the market itself.
According to research from agents CBRE, 107 major deals were made worth a combined €980 million. These included residential development sites as well as several high-profile office, hotel and industrial development deals.
“While the planning system is causing ...
