• Signs of life becoming evident in some sectors of the commercial property market following more than three months of lockdown, although other sectors remain firmly in the ‘eye of the storm’ for now
  • Q2 transactional activity bearing testament to CBRE’s ‘Short-Term Brutal, Medium-Term Positive’ assessment of the likely impact of Covid-19 on Ireland’s property market
  • Continued collaboration between landlords, tenants & financiers remains critical while businesses await detail on measures to be included in the Government’s July Economic Stimulus Plan
  • Considerable ‘dry powder’ building for investment opportunities in the Irish market with particular demand for offices, multifamily, industrial & logistics and healthcare opportunities
  • No discernible deterioration in office, industrial or residential rents or yields anticipated in this cycle
  • Only approximately 140,000m2 of new office stock due to be completed in Dublin this year while almost 70% of the 265,000m2 due for completion in 2021 is already pre-committed
  • Any deterioration in value that is experienced as a direct result of Covid-19 is likely to be moderate by comparison to the severe value declines experienced during the last property market downturn
  • Investment activity expected to kickstart in Q3 but it will be later in the year before there is a meaningful rebound in demand in the occupier or development sectors of the market
  • The experiential nature of shopping has for now been replaced with a functional experience and retailers will have to adapt to the new reality in order to survive
  • With hoteliers and retailers understandably focussed wholly on the survival of their core businesses for now, transactional activity is expected to remain subdued in these sectors for some time yet