Confidence In Commercial Property Market Remains 'Relatively Robust'

Confidence within Northern Ireland's commercial property market remains relatively robust, despite a clear trend of falling interest from foreign investors, according to a new data.

Occupier demand continued to increase in all sectors in the first quarter, whilst availability of space declined, the latest Royal Institute of Charted Surveyors (RICS) and Ulster Bank commercial market survey has revealed.

However, enquiries from foreign investors declined for the fourth quarter in a row.
News Image
RICS Northern Ireland commercial property spokesperson, Tracy Flannigan said: "In terms of occupier demand and rent expectations, the Northern Ireland commercial property market started 2017 much as it ended 2016, with good demand evident.

"It is also encouraging to see some new office refurbishments starting, but the lack of availability of space, particularly grade A office accommodation, remains a key challenge for the market, as well as some uncertainty on the horizon in relation to Brexit, which can be seen in the figures relating to foreign investment enquiries. However, for now, rental and capital value expectations remain positive."


Related Northern Ireland News Stories
Click here for the latest headlines.

12 March 2020
Budget: Extra £210m For NI Public Services
Business and political leaders have been giving their reactions to the Budget, with an extra £210 million allocated for public services in Northern Ireland. The Chancellor, Rishi Sunak, yesterday pledged a £12 billion package of measures aimed at tackling the spread of coronavirus across the UK.
26 May 2010
Unstable Market Delays Revaluation
Instability in the local commercial property market has prompted a delay in a planned revaluation of business properties.
19 March 2020
Head Teachers Union Welcomes School Closures
The National Association of Head Teachers has welcomed the news that all schools in Northern Ireland will close from Friday.
11 March 2020
Flybe Workers To Rally At Stormont
Flybe workers will today hold a rally at Stormont to demand government intervention to secure their jobs. A trade union has called on the Northern Ireland Executive to defend the long-term connectivity of Belfast, including the now under-threat roles at Belfast City Airport.
23 March 2020
NI Hospice Chief In Call For Vital Supplies
The Northern Ireland Hospice is demanding intervention by the Northern Ireland Executive to ensure provision of vital supplies for palliative care services. Hospice chief Heather Weir said they are facing difficulties accessing protective equipment for both the Adult and Children's Hospice.