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 Estate Agents + Cork Auctioneers are renowned Southern Irish Agency who deal in commercial and residential properties auctions within the Republic of Ireland. ZIC are established Retail Property Consultants providing flats to buy or homes for sale in Cork and apartments for rent as well as to houses let in the Republic for many years.
Check ZIC for all your retail properties needs such as a flat and house or an apartment and home.
ZIC are well known Real Estate Agents In Cork + Auctioneers in Ireland. ZIC Southern Irish Property Consultants provide county retail properties for auction such as a flat and house for sale or apartment to let and home for rent in Republic.
Refer to ZIC for your retail properties needs to buy such as houses or apartments and homes or flats in the Republic.
There is ZIC Estate Agents + Cork Auctioneers who provide Southern Ireland Property Auctions service. ZIC are well known Retail Properties Real Estate Agency and Consultants providing apartments and houses as well as homes or flats to buy in the Republic.
Call ZIC at any stage for all your properties needs such as a house and apartment or a home and flat to buy in the Republic.
ZIC Consultants are Real Estate Agents In Cork + Auctioneers of Southern Irish Property. They have been involved in County Retail Property Auctions within the Republic of Ireland for many years providing properties to buy such as homes and houses as well as apartments and cottages.
Contact ZIC at all stages for your flat and house to buy as well as any other apartment and home needs.