The CBRE Ireland Real Estate Market Outlook 2019 report provides insight on the key trends our experts think will affect the Irish property industry over the next 12 months.
Outlook 2019 Event Highlights
Interview with Marie Hunt on Newstalk Breakfast
Review of 2018
Market Outlook 2019
Key Takeaways By Sector
While the long-term sustainability of office demand is never certain, considering the volume of outstanding requirements for office accommodation in Dublin at this juncture, office take-up in the Irish capital is on course for another strong performance this year with supply expected to remain tight.
On the basis that lettings have been secured on several of the industrial buildings that have recently been developed or are in the process of being developed speculatively in the Dublin market, take-up in 2019 is likely to continue to be relatively constrained as a result. We expect this will encourage some developers to proceed with additional phases of development during 2019.
Metrics including footfall, retail sales and consumer sentiment were all relatively positive in 2018. There was also good activity in the retail property market with healthy volumes of transactions recorded despite shortages of stock in some prime locations.
We are expecting investment spend in 2019 to be broadly similar to last year, led for the most part by some large office transactions. We expect investors to be more selective about value-add and opportunistic opportunities and primarily focussed on core and core-plus opportunities, which will lead to growing divergence between prime and secondary as the year progresses.