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Monday Newspaper Review - Irish Business News and International ...

The Irish Independent reports that over the past five years as punters have followed canny investors into the residential property, much of the smart money moved into commercial property.

The figures speak for themselves. In 2000, Irish investors bought commercial property to the value of 2bn. By last year that had risen to 9bn, and this year it will be surprising if the Irish appetite for commercial property does not exceed 11bn.

With so much money chasing a relatively finite resource, yields in the Irish market plummeted and investors moved first to the UK and then further afield, seeking not only better returns but a more diversified portfolio of assets.

This year it is expected that Irish commercial property investors will pile 3bn into assets in Ireland, but will spend 5bn in the UK market, about 1.5bn in other European countries and around 0.5bn in the US.

posted by Cheap Computer Guide @ 11:15 PM