Value of commercial property 'more than halved'

Buyers of commercial property in Ireland have seen their investments more than halve in value in two years according to new figures from consultants Jones Lang LaSalle.

Buyers of commercial property in Ireland have seen their investments more than halve in value in two years according to new figures from consultants Jones Lang LaSalle.

Investment returns, including rents, were down by 19% last year on top of a drop of 36% in 2008.

Commercial property values, meanwhile, were down by a quarter in 2009 alone.

The figures come just a week ahead of the first deadline for loans linked primarily to failed property investments to be transferred from financial institutions to the National Asset Management Agency.

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