Daft Property - Irish Property News

Dublin Property Market Draws Low Marks for European Investment... Feb. 2 (Bloomberg) -- Dublin, capital of the first euro-region country to report an economic recession, offers the worst real estate investment prospects among Europe’s major urban markets, Pricewaterhouse Coopers LLP said. The Irish capital ranked last among 27 European cities judged for their property investment and development opportunities, according to the annual survey of 520 real estate professionals. Dublin also came second to last, after Moscow, as the riskiest market. Irish commercial real estate values declined almost 24 percent in the 12 months ended Sept. 30, according to London- based researcher Investment Property Databank. The collapse of the housing market and restricted lending by banks contributed to Ireland’s slower economic growth, which in turn curtailed demand for commercial space. The Irish “were the longest at the party and now have the biggest hangover,” John Forbes, PwC’s head of real estate, s...