Residential housing market outperforms commercial

A mixed bag across the different property sectors will continue in 2021

A hole was left on Cork city's St Patrick's Street after the controversial closure of Debenhams Cork. Lisney’s 'Shutter Count' survey found a vacancy rate of 18.3% at the end of the year, a 7.2 percentage point increase in 12 months.

FUTURE development in Cork city and its enlarged metropolitan area is very positive. There are ambitious plans for the City Docks (north and south), where the City Council and the Land Development Agency recently announced the establishment of the Cork Docklands Delivery Office to facilitate the mixed-use development programme.

In addition, there are longer-term proposals for Tivoli Docks when the Port of Cork moves to Ringaskiddy. Following a high court review the M28 Cork/Ringaskiddy motorway is now likely to proceed, which will further enhance the development of Ringaskiddy into a key trading port with Europe.