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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© 2008 Zaray Internet Irish Real Estate Ireland Housing Consultants.
Real Estate Dublin Agents known as ZIC cater for commercial property lettings such as office suites in Ireland. They provide residential properties for buying, including houses for sale in Dublin, apartments as well as homes for rent and flats to buy. They also cater for Southern Irish property for sales, auctions and renting in their office suites.
ZIC Southern Irish Commercial Properties
Property Ireland Lettings Agents : Offices To Rent / Suites To Let / Homes To Buy
Buying Residential Property Ireland + Real Estate Dublin : Houses For Sale In Dublin + Apartments For Sale Dublin + Homes To LetZIC Real Estate Dublin Auctioneers and Southern Irish Property Lettings Agents provide houses to let, apartments for sale Dublin as well as office suites to buy and homes for rent in Ireland. Their Agencies cater for buying investment residential properties such as houses for sale Dublin, apartments as well as homes to let and flats to buy.
Please check the ZIC Property Lettings Dublin Agency Ireland Web site To Get More Company Consultants Information
Real Estate Ireland / Irish Property For Sale + To Let: Ireland Real Estate - Land Site To Buy Dublin + Cork