There could be a "significant reduction" in the building of new commercial and private rented sector properties - typically apartment blocks sold to big international investment funds - if the coronavirus outbreak continues to prompt a fall in the value of Irish property-related share prices, Davy has said.

Dalata Hotel Group shares tumbled by more than 6% after it said it saw a drop in like-for-like performance across its Irish hotels during the bulk of this year.

The Government has said it will provide further details of its €300m Brexit loan scheme for SMEs in the coming weeks amid mounting uncertainty among industry groups.