There was a slight upturn in the European commercial property market in the last three-month period, as investors spent €13bn in Europe, bringing total investment spend in the first half of 2009 to €24.5bn, according to findings released today.

IRELAND’S commercial-property market won’t recover until 2010 at the earliest as the economic slump and tight credit conditions deter investors, according to a report by real estate broker CB Richard Ellis Group.

The property consultants firm CB Richard Ellis is predicting a tough year for the Irish property market in 2009.