It seems strange that despite the obvious hurdles and losses in other sectors, the signs coming out of the first three months of the year are overwhelmingly positive regarding the property market in Ireland.
Most noticeably is the €1.2 billion investment in Commercial property in the first quarter. This is despite commercial and retail being one of the hardest hit by government restrictions over the last 12 months.
The residential market is also enjoying a surge in growth and now as restrictions on in person viewings are lifted, we expect to see an even greater jump in figures for the current quarter. Due to restrictions on construction over the last year, supply has been severely hindered which is by no means good news for buyers, but those currently invested in the market will see continuing yields due to lack of supply over the next decade according to some estimates.
The industrial sector has also seen growth as giants like Amazon mull new distribution hubs to circumvent Brexit and the mess that it has created in dealing with the UK regarding customs and taxes.
All in all, things are looking pretty positive as we head in to the summer months and those of you with investment portfolios can breathe a sigh of relief after a pretty uncertain 12 months.
As always you should seek financial advice from a professional before making any investments. If there is anything we here at KPM can do to help, please don’t hesitate to call and we’ll be glad to assist in any way we can.