Despite a high supply of distressed commercial properties on the Irish market, latest findings from Jones Lang LaSalle highlight that commercial property market is stabilising. The research shows an increase of 0.6% in overall returns in the first quarter of 2012, with income up by 1.6% and rental values up by 0.7%.
Rental values across rose for the first time since Q1 in 2008, with office and industrial units up by 1.8% and 0.5% respectively. The Government decision to retain upwards only rent reviews in current lease contracts and the removal of Capital Gains Tax on purchases before the end of 2013 are cited as key reasons for improving market performance.
For those renting out or seeking commercial properties in the Waterford region, SimplyInsure.ie can give advice on getting the most out of your commercial portfolio and finding the best tenant possible. You can speak to a qualified advisor now on 1850 746 759 or send us an e-mail to firstname.lastname@example.org to request a callback.
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