According to global real estate advisory firm JLL, the amount of office space that has been occupied in Dublin in q1 of 2017 has totaled close to 550,000 sq. ft across a total of 40 deals. This is a steady level of take-up, and compared to the same period last year is up 11%.
According to JLL, just over $500 million of Irish property has traded in the first 3 months of 2017. Volumes were boosted by a few large transactions, with one deal greater than $106 million.
The depreciation of the pound, coupled with a slight drop in capital values, has led UK commercial real estate to be discounted by 16% on average by overseas capital.
According to global real estate consultant Knight Frank, fears that London is set to lose swathes of bank jobs now look overblown, but finance has been shrinking in importance for the capital's economy and property market for some time.
According to Knight Frank's latest U.K. Regional Office Market Report, regional office investment was buoyed by overseas buyers in 2016, with international money accounting for 45% of all investment into offices across the ten U.K. cities tracked.
According to JLL, 2016 has been another strong year for office demand in Dublin, with 2.7 million square feet of office space occupied in the last 12 months across 232 deals.
The owners of London's iconic Burlington Arcade, Thor Equities and Meyer Bergman, have announced plans to sell the renowned global luxury retail destination, and have selected global property advisor CBRE to market the property.
According to analysis from Knight Frank, competition for office assets in Madrid Spain is pushing yields to record low levels. Over €1.1 billion ($1.15b USD) has been invested in Madrid in the first nine months of the year, with Knight Frank predicting investment in 2016 could total €2 billion ($2.1b USD)
According to JLL, the vacancy rate in main Moscow high-street corridors dropped by 2.8 pp to 10.2% in Q3 2016. Myasnitskaya Street and Patriarshie Prudy stayed at the top.
According to Knight Frank's Q3 Paris Office Market Outlook Report, office take-up in Paris is expected to exceed the long term average as occupier activity remains strong despite Brexit uncertainty.
Irish real estate firms like JLL broadly welcome the business and property-related measures announced in Ireland's budget this past week.
According to the latest Skyscraper Index from Knight Frank, office rents in London's skyscrapers remain at record levels despite uncertainty caused by the EU Referendum.
Irish Property Index continued to perform steadily, with overall returns of +3.2% in the second quarter of 2016. This is the 19thconsecutive quarter of positive growth.
According to a new report by Transwestern, the impact of Brexit will be long and protracted, which will likely result in increased volatility in the capital markets.
Demand for UK logistics and industrial property remains strong with the long-term outlook positive due to the continued growth of online sales driving occupier demand, despite a downturn in Q2 of 2016.
According to JLL, office take-up in the Moscow City district in Q2 2016 reached 120,000 sq. m, while for H1 2016 the figure totaled a record 207,000 sq. m, which was three times higher.
According to global real estate consultant JLL, €2.3 billion ($2.54b USD) of commercial property has traded in last 3 months in Ireland. Year-to-date total volumes now stand at €2.9 billion ($3.2b USD).
With the Brexit vote is complete, and the divorce proceedings of the UK from the European Union is now afoot, with considerable uncertainty and no real precedent, the future implications for UK's property markets are significant.