Irish investors hit eastern Europe

Irish investors have accounted for up to 25% of all commercial property transactions in central and eastern Europe so far this year.

Colliers Jackson-Stops’ Jonathan Hillyer told a conference yesterday that investors are bullish about the commercial opportunities these markets present, believing that they offer the potential for higher returns as the benefits of joining the EU begin to flow into these economies.

“The average initial yield being achieved in these markets is currently in excess of 8%, which compares very favourably to the prime yields of between 3.5% and 6% being made on commercial investments in the Irish market,” he said.