2015's hot property; REAL ESTATE MARKET TO FLOURISH, CLAIMS CBRE.
1. 2015's hot property; REAL ESTATE MARKET TO FLOURISH,
CLAIMS CBRE.
THE commercial property market in Northern Ireland will thrive this year, it was claimed yesterday.
And consultants CBRE said it will be a buoyant 12-month period for the hotel and leisure, retail,
investment and office sectors in particular.
Boss Brian Lavery added he expects it to be similar to 2014 when almost PS500million of investment
sales were completed here - a threefold increase on the previous year.
Referring to the firm's outlook report, he said: "We anticipate a similar level of activity in 2015 given
the amount of deleveraging that has yet to occur across the region and the nature of the assets to be
traded.
"The real estate sector has been transformed from a debt-based to an equity-based model with a
larger proportion of institutional activity now evident as well as new entrants emerging."
Mr Lavery added there is reason to be optimistic across the hotel and leisure sector as international
hoteliers seek prospects for growth and look to Northern Ireland for investment opportunities.
He said it was a similar story with the retail and office sectors as firms consider the region as an
area of untapped potential and increased foreign direct investment puts further pressure on supply
and demand within the office market.
Mr Lavery suggested the scarcity of Grade A office space remains an issue but one which ultimately
may have a positive impact on rental values for owners as well as stimulating development
opportunities within the sector.
He added: "With the current level of activity in the real estate market I think we can be confident
about the commercial property sector in Northern Ireland in 2015."
CAPTION(S):
2. REPORT Brian Lavery
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