The first joint CBRE/Allsop Ireland report launched today, has revealed there were 238 commercial investment transactions in the first half of 2016, which amounted to a total of €2.95 billion.
The report found that 82 per cent of commercial properties below €1m were bought by Irish investors, whereas 76% of sales above €1m were to foreign buyers.
More than half (56%) of transactions completed in the first half of the year were in Dublin with a further 15% in Leinster. Just over 18% were located in Munster, 8% in Connacht and only 2% in the Republic’s three Ulster counties.
CBRE and Allsop Ireland have collaborated to publish the Commercial Property Investment Digest H1 2016 which outlines the commercial investment market in Ireland.
The new bi-annual report discusses the value of commercial property deals and details the urban and rural divide.
Over 70% of the buyers of income-producing assets worth over €1 million during the first half of 2016 comprised of institutional funds.
Such a strong showing of international investors is likely to be strengthened amid the ongoing uncertainty in the UK property market post Brexit, leading investors towards the Irish market.
Managing Director, CBRE Ireland Enda Luddy, commenting on the release said:
“The availability of data in any market is hugely important, none more than in the property market.We hope the aggregated data provided in this report brings a measure of clarity on the detailed information now available”.