Irish investment tops £4.7 bn


Irish commercial property investment in the UK has reached £4.7 billion, half of which is in central London, one agent has said.

The current market situation has been illustrated by figures from CB Richard Ellis, which showed the investment in the capital’s market and warned of less growth in the coming year.

"While economic and property market fundamentals are still basically sound, the big issue in most sectors is the scarcity and cost of debt-funding," says Marie Hunt, director of research.

The group went on to reveal that strong interest remained for properties that were well located and have benefited from recent price cuts.

The study revealed that pre-Christmas there were increased views of show homes, which it felt were prompted by discounts of ten to 20 per cent. However, it did observe that not all builders had to cut prices to generate interest.

For home owners it is important to buy property that will appreciate over time and as with commercial property, a good location often helps property increase in value.