Commercial property market 'to stabilise' in 2012

The commercial property market is predicted to stabilise this year.

Property consultants CBRE have released their Outlook report outlining their predictions for the next 12 months.

CBRE says it expects to see a notable increase in sales across all sectors of the market in 2012.

But it warns that the road to recovery will be a long one.

And CBRE says the Government's decision not reform the area of upward-only rent review will cause some retailers to re-assess their options.

“With the uncertainty that prevailed for much of last year now alleviated following announcements made in Budget 2012 and the domestic economy showing tentative signs of improvement, the commercial property market should stabilise in 2012 and begin to emerge from the most significant correction it has ever experienced," said Marie Hunt, Executive Director at CBRE Ireland.

"We expect to see a notable increase in transaction volumes in all sectors of the market in 2012," she added.

"The road to recovery will however be a long one and values will only stabilise once there is sufficient transactional evidence available to provide clarity on pricing.

"The real estate sector now has to adapt to a scenario where debt funding is going to remain severely constrained."

More in this Section

Acer unveils the first ever curved screen gaming laptop

Apple tax row: The Irish government should tell the EU to f*** off, says Ryanair boss

Twitter will now share video revenue with individuals

'No Man's Sky' gets a Super Mario makeover you can play


Today's Stories

Advocate urges no change in mortgage rules

Former Clerys staff group oppose development plan

No share bounce for Irish Continental Group despite upbeat outlook

Ryanair warns over outlook

Lifestyle

James Nesbitt and Hermione Norris on why the time is right for the return of Cold Feet

Get a Fair Deal with costs of care homes for elderly

Pablo Escobar’s life on the line in Narcos season two

How to buy the perfect laptop for college

More From The Irish Examiner