Retail rents to grow 10% in next two years

Retail property rents are set to grow by up to 10% over the next two years.

New research by Savills also shows employment is the most important factor in determining retail rents.

The cost of rent in some prime shopping locations has already risen by more than a third over the last three years.

Director of research at Savills Ireland Dr John McCartney said: "Fundamentally, consumer confidence ebbs and flows.

"The real determinant of retail rents is jobs growth, which has continued to be really strong with 2.9% growth in the last 12 months, or 57,000 jobs."