Discounted property prices now sought by investors, say Lisney

Agent Lisney's Q3 report shows shift in sentiment, and 'price discovery' ie - hard haggling

Cork Business and Technology Park, space let to HSE in Q3

Global uncertainty and rising interest rates are impacting the Irish investment property market, with a growing disconnect between vendors’ price expectations — and what buyers are prepared to buy, with discounted prices being sought.

That’s according to Edward Hanafin, a director of Lisney as the company’s Q3 market commentary shows a shift in sentiment by mid-year. However, the Q3 outturn at €1.77bn is well above the quarterly average for the past five years, driven in part by a handful of very substantial sales in the Dublin market, such as the sale of Salesforce HQ and adjoining hotel at Spencer Dock, put at c €500m.