Commercial property claims denied

THIS week’s warning that the Irish commercial property market could drop by 30% has been denied by director of research at CBRE Marie Hunt.

Ms Hunt has questioned the claims by brokerage firm UBS amid a slump in Irish bank share prices.

Its global equity research department downgraded its ratings on AIB and Anglo Irish Bank on the basis that they were at a “significant risk” to changes in the commercial property market. Bank of Ireland shares were moved from “buy” to neutral.