Houses • Apartments • Office Space • Retail
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Republic of Ireland Finance Bill (No. 2) abolishes stamp duty for first time buyers who occupy their own properties. The exemption applies to new and second hand dwellings - this should result in an increase in residential real estate sector activities. New home registrations is expected to reach 60,000 units this year, therefore supply of new houses is set to fall significantly in 2008. Given a decrease in development land transactions during 2007, there was considerable increase in forward planning for medium and large development schemes within Dublin and other major urban areas of Ireland.
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Dublin office building boom continues unabated - construction is up fivefold compared to 2006. Demand from firms in the legal and financial services areas seeking extra space increased office take-up in Dublin to record levels during 2007. With housing construction expected to slow down, the expansion in commercial building is good news for the construction industry, as well as the Government which depends on the construction sector to provide employment and tax revenue.
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Dublin is currently rated as 6th most expensive office location in the world and the fastest climber, jumping from 12th to 6th position. Demand for retail space has been supported by economic trends in 2007. Public sector rental take-up of Dublin office space increased fourfold during 2007. With restricted supply of office accommodation, vacancy rates have been come down to 10.7% in Dublin overall, and 9.3% in Dublin city centre.
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The year 2007 set new records for Dublin commercial rental. Offices are currently the best performing commercial property sector. Figures published show that Dublin office space renting by the Government alone increased by more than 400%. The supply of office space in Dublin city centre remains limited and there is little sign of this increasing to meet demand. Across the country, the supply of retail space has expanded greatly with many major developments completed in recent months. Currently there is a large supply of retail warehousing, providing excellent buying and rental opportunities.
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Dublin goes down table of most expensive commercial locations. Figures show that the cost of industrial space grew faster elsewhere than in Ireland during 2006. Irish warehouse and factory rents increased by 2.6% in the year, compared to an average international increase of 6.5%. Commercial property rents rose by 12.5% in 2006. Retail rents topped with shop rents growing by 15+ % in the year. Office rents, fell by more than 15% during 2001-2004, continued strong resurgence, increasing by 11+% during 2006.
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ZIC Dublin Real Estate Agents and Auctioneers deal with investment properties in Southern Ireland as well as in Cork and Belfast.They provide financial services and mortgage for property sales in the Irish Republic. These include commercial properties such as offices and land to buy as well as residential houses for sale or country homes for rent and flats or apartments to let. All residential and commercial Dublin real estate in Ireland include properties for sale and rent as well as for letting and investing or for auction; these are provided in the Agencies sales office.
Need flats to buy or apartments for sale, houses to let and homes for rent in Dublin, Cork and Belfast? Also, do you need financial services and mortgage for commercial Irish properties such as offices, shopping centres, land sales, shops or for lettings and renting? There are residential country homes for sale and houses to rent as well as flats and apartments to let. ZIC Auctioneers and Southern Irish Property Agent will provide shopping centre, home for rent as well as flat and apartment for sale or house to let in Dublin Ireland as well as in Cork and Belfast.
Many Southern Irish properties are available for auction as well as for letting and renting. ZIC Auctioneers and Dublin Real Estate Agents of commercial offices and residential property have available flats and apartments for sale as well as houses to let and homes for rent. They provide flat or apartment to let as well as home for rent and house for sale in Dublin Ireland. Also, they can facilitate financial services such as providing investment mortgage.