Dublin is now in thirteenth place out of 31 European countries for prospects in the real estate market, according to a report from PwC and Urban Land Institute.
In 2021 Ireland's capital is the fifth most active real estate market in Europe for capital invested, with €3 billion in capital inflows, on a par with Paris.
The most active markets are London, Frankfurt, Berlin and Munich.
The 13th place ranking for prospects is also a decline of two places, from 11th place last year.
PwC real estate lead Joanne Kelly commented: “The slippage may reflect that gains from Brexit have now largely been realised. A number of companies have relocated and opened new EU head offices in Dublin. Dublin and Ireland remain a very favourable location for real estate investment. We have a highly skilled English speaking workforce, a pro-business economy and we are part of the EU with access to over 300 million consumers.”
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Among other conclusions in the Emerging Trends in Real Estate Europe report are:
• Business confidence in real estate sector hits highest level since 2014
• Profound changes to the business of real estate are foreseen following changing consumer demands, digitalisation and an ever-stronger ESG agenda, although the real impact is yet to be seen
• London tops overall city rankings, leading over Berlin and Paris
• Logistics and residential top sector prospects rankings alongside alternative asset types – new energy infrastructure, life sciences and data centres
• There’s a lasting increase in time worked remotely, according to 85% of survey respondents.
The report, based on the views of 844 property professionals, records the highest levels of business confidence since 2014 and a doubling in positive outlooks since the same time last year.
The resport states: “This level of confidence is further supported by continuing strong investor demand with both the availability of debt and equity expected to be plentiful, albeit with significant differences between sectors, depending on which performed well during the pandemic and those that suffered significantly.”
The full report is available here.
