Covid-19: Lisney and Sherry FitzGerald see little to no-hit for property

Estate agency chiefs at Lisney and Sherry FitzGerald said there has been limited to no fallout so far from the coronavirus outbreak on Irish residential and commercial property sales.

Covid-19: Lisney and Sherry FitzGerald see little to no-hit for property

Estate agency chiefs at Lisney and Sherry FitzGerald said there has been limited to no fallout so far from the coronavirus outbreak on Irish residential and commercial property sales.

Lisney chairman James Nugent said that there had been no sign of a fall-off in enquiries as a result of Covid-19 cases for Irish house sales although the restrictions on travel by overseas companies had led to some cancellations by investors flying into Ireland linked to commercial property deals.

And Marian Finnegan, managing director at Sherry FitzGerald, said that viewing levels for residential homes had increased significantly from a year earlier and there was no evidence of any softening in enquiry levels.

Ms Finnegan said that any escalation in the number of cases could see a decline in activity although the industry, she said, was better placed than in the past to deal with public health concerns because of its online facilities.

Elsewhere, Jaguar Land Rover-owner Tata Motors and Samsung have warned of continuing disruption from the coronavirus.

The outbreak, which started in China and is spreading globally, has hurt sales in the world’s biggest car market.

The spread of the virus to South Korea, Japan, and Northern Italy are creating similar issues, India’s Tata Motors, which owns Jaguar, said. It said the reduction in China sales is estimated to reduce Jaguar Land Rover’s full-year earnings by about 1%.

China is also a major hub for vehicle parts production and has affected carmakers in all parts of the world. Jaguar Land Rover has been flying Chinese parts in suitcases as well to Britain to maintain production. Samsung said it would temporarily move some smartphone production to Vietnam from South Korea after another of its Korean staff tested positive for the coronavirus, forcing it to close a factory, Reuters reported.

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