Market shows pick-up

CORK’S commercial property market may be heading back to equilibrium by 2013, with transaction numbers rising, a recovery in Dublin leading a cyclical trend, and an improvement in both Cork and Dublin’s urban residential markets.

That’s according to Frank Ryan, director of DTZ Sherry FitzGerald’s Cork offices as they publish a quarterly report on Cork Commercial Property.

DTZ acknowledge values still falling against a background of low levels of market activity, but recovery by 2013, while not certain “is a reasonable prospect,” notes Mr Ryan.