Chartered surveyors and commercial agents, O'Neill and Co release report
The Kildare commercial property market is expected to continue in its upward direction given the demand for property across the industrial, office and retail sectors from both tenants and owner occupiers alike, according to Darac O’Neill, Director of O’Neill & Co.
“However, the supply of stock in the market will have a significant impact on this trend,” he added.
The chartered surveyors and commercial agents released their report and spring outlook recently, which examines the current economic climate in Ireland and provides a review and outlook on the Kildare commercial property market.
On the residential development market agents state; “We may see a more fluid residential market as new builds start to come on stream. First-time buyers will contribute significantly to sales thanks to the help-to-buy scheme and looser mortgage lending rules, with other property areas of interest for 2018 include build-to-rent (BTR), design-to-build and co-working spaces.
“On the overall Irish economy, continued growth is expected along with decreases in the number of unemployed, this can only have a positive effect on occupier demand across all sectors of the commercial property market. As a consequence of Brexit, as anticipated the demand from international investors in the banking, insurance and financial sectors, is beginning to gain momentum.”
The recent changes in commercial stamp duty from 2% to 6% and the reduction in the holding period for an exemption for CGT purposes from seven to four years may see an increase in stock making its way onto the market as investors take advantage of improvements in demand and capital values and evidence of this has emerged in the first few months of 2018, say the agents.
A copy of the full report is available on the company website www.oneillandco.ie.
O’Neill & Co provides a range of professional services which include commercial valuations, asset management, rent reviews, compulsory purchase orders and property acquisitions.