Record year for Irish investment
According to Knight Frank’s latest Dublin office market outlook, strong institutional demand for commercial property in Dublin has put the Irish investment market on course for a record-breaking year. The firm says that a total of €2.9 billion was invested in Irish commercial property in the first three quarters of 2014 and that, as a result, investment volumes for the year were already comfortably ahead of 2013’s total of €1.9 billion. The market is set to pass the €3.4 billion invested in 2006, the strongest year on record.
The past two years have seen a remarkable turnaround, Knight Frank says, from the sluggish market of the 2008–2012 period. Activity has been driven by demand from an increasingly diverse range of buyers. US investors pursuing value-added and opportunistic strategies played a large role in the revival of the market in 2013, but have since been joined by a growing variety of domestic and international buyers, including Irish REITs and