Property Investment Spend In First 9 Months Of 2018 Has Exceeded Last Years Annual Total
October 5th, 2018 – Property consultants CBRE Ireland have today released figures for the volume and value of investment spend in the first nine months of 2018, which shows that more than €2.67 billion of commercial property transactions exceeding €1 million in value have completed in the Irish market during the first three quarters of the year - exceeding the volume traded for the year as a whole last year.
The first three quarters of 2018 have seen a healthy volume of investment transactions completed in the Irish market, with more than €2.67 billion of assets having changed hands in the nine-month period. Significantly, this is higher than the volume of transactional activity for the entire year last year and has been boosted by a large number of transactions in excess of €100 million, which between them accounted for almost half of total spend in the period.
According to the CBRE analysis, there were 9 property investment transactions completed in the year to the end of September that exceeded €100 million, 4 of which comprised office buildings and 3 of which comprised residential investments. In total, there were 22 residential investment transactions totalling more than €773 million completed in the year to the end of September, accounting for almost 30% of overall investment spend between them.
Although there were 93 transactions completed in the first nine months of the year that extended to between €1 million and €10 million in value, between them these transactions only accounted for 12% of overall spend.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
CBRE U.C., (CBRE Ireland) registered in Ireland, no. 316570. PSRA Licence No. 001528 is the country’s largest commercial real estate services company with offices in Dublin and Cork. Currently employing over 135 employees, we work with occupiers, investors and developers of office, industrial and logistic, retail, hotel and healthcare property, providing strategic advice and execution for property sales and leasing; tenant representation, corporate services; property and project management; appraisal and valuation; development services; investment management and debt advisory; business rates and compulsory purchase and research and consulting. Please visit our website at www.cbre.ie