Retail rents down 50% from peak

RETAIL rents in prime Dublin shopping areas have plunged as much as 50% from peak levels, according to property consultant CB Richard Ellis.

It said this level of decline is “considerably higher” than the peak-to-trough rental declines experienced in other European cities.

Retail rents in the Irish market will remain under pressure for some time yet, the consultant said, in a report published yesterday.