Surveyors expect office and retail rents and values to fall –

The office and retail sectors of the Irish commercial property market are expected to see falls in both rents and capital values during the year while both prime and secondary industrial properties are expected to see growth. These are among the findings in the latest Commercial Property Monitor published by RICS in conjunction with the Society of Chartered Surveyors Ireland.

utside the mainstream, capital values are also expected to increase for data centres and to a lesser degree for nursing homes and multi-family investments. At the other end of the spectrum, projections remain negative for hotels and student housing, although not as much as in previous monitors.

Its Occupier Sentiment Index showed net balances for tenant demand of minus 27pc and minus 60pc respectively across offices and retail. As a result respondents foresee office rents declining for prime by 2pc and secondary by 5pc this year. Even sharper 8pc rental

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