Key regions: United Kingdom, China, Asia, France, Europe
The Commercial Real Estate market in Ireland has experienced significant growth and development in recent years. Customer preferences have shifted towards modern and sustainable office spaces, while the market has been influenced by various trends and local special circumstances. These developments can be attributed to underlying macroeconomic factors that have shaped the real estate landscape in Ireland. Customer preferences in the Commercial Real Estate market in Ireland have evolved to prioritize modern and sustainable office spaces. Tenants are increasingly seeking buildings that offer energy-efficient features, flexible layouts, and advanced technology infrastructure. This shift in preferences is driven by a desire to create a more productive and environmentally-friendly work environment. Additionally, tenants are placing a greater emphasis on amenities and services within office buildings, such as on-site gyms, cafes, and communal spaces, to enhance employee satisfaction and attract top talent. Trends in the market reflect the changing needs of tenants and investors. There has been a rise in the development of mixed-use properties that combine office spaces with retail, residential, and leisure components. This trend is driven by the desire to create vibrant and self-contained communities that offer a range of amenities within walking distance. Furthermore, there has been an increased demand for flexible office spaces, driven by the rise of remote working and the need for short-term lease options. Co-working spaces and serviced offices have become popular choices for startups and freelancers, providing them with a flexible and cost-effective solution. Local special circumstances have also influenced the Commercial Real Estate market in Ireland. The country's strong economic growth, particularly in the technology and finance sectors, has attracted multinational companies and foreign investors. Dublin, in particular, has emerged as a major hub for tech companies, leading to a surge in demand for office spaces. Additionally, the uncertainty surrounding Brexit has prompted some businesses to relocate their operations to Ireland, further driving demand for commercial real estate. Underlying macroeconomic factors have played a crucial role in shaping the Commercial Real Estate market in Ireland. The country's strong economic performance, low corporate tax rates, and skilled workforce have made it an attractive destination for businesses. Foreign direct investment has flowed into the country, driving demand for office spaces and fueling construction activity. Furthermore, low interest rates and favorable lending conditions have facilitated real estate investment and development. In conclusion, the Commercial Real Estate market in Ireland has experienced significant growth and development, driven by evolving customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The shift towards modern and sustainable office spaces, the development of mixed-use properties, and the rise of flexible office spaces reflect the changing needs of tenants and investors. The country's strong economic growth, the influx of multinational companies, and favorable lending conditions have further fueled the market's expansion.
Data coverage:
Figures are based on value of commercial real estate.Modeling approach / Market size:
Market sizes are determined by a bottom-up approach. As a basis for evaluating this market, we use national statistical offices. Next, we use relevant key market indicators and data from country-specific associations such as share of industry, manufacturing, and services of the GPD, price level index, GDP. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the market, for example, exponential trend smoothing.Additional Notes:
The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.
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