Stephen Nolan

Listen back to BNP Paribas Real Estate's Director & Head of Research, John McCartney on RTE Radio 1's Morning Ireland show earlier today. "When weak demand meets strong supply, vacancy has to rise. This has been the story of Dublin’s office market in Q1 2024, with vacancy rising from 13.1% to 14.5% in three months. Tenants are benefiting as increased choice gives them leverage in rent negotiations. However some better news is also starting to emerge for office landlords. Although the proportion of employees working from home has stabilised well above pre-Covid levels, remote workers are increasingly spending more time in the office. It was my pleasure to discuss these dynamics with Gill Stedman on RTE Radio 1 this morning. If it is of interest, you can listen back to our conversation by clicking the link below. If you want further detail the full Q1 Dublin Office Report is available to download at the BNP Paribas Real Estate website https://lnkd.in/eJgpHFfA or you can contact me or any of the team directly." - John McCartney #Commercialproperty #Officemarket #Beyondbuildings • Q1 office completions exceeded the entire amount for 2023 • Supply surge meets weak demand – leasing at 3-year low • Strong pipeline supply means rising vacancy until 2025 • Tenants’ market for now, with rents and lease terms under pressure • Positive signs emerging; Remote workers spending fewer days at home and reserved space rises by 25% in Q1  • Office re-purposing projects emerging – but mostly to hotels, education and medical rather than residential uses

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Housing commencements remain on an upward trend, according to BNP Paribas Real Estate Ireland: Construction activity index posted fractionally below the 50.0 no-change mark in May to signal broadly stable output in the sector midway through Q2

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The European Long-Term Investment Fund (ELTIF) is transforming how investors approach wealth creation by opening doors to infrastructure, real estate, and SME investments. In our Q3 performance webinar, we explored: ✅ The current breakdown of household savings in Ireland and Europe. ✅ Why ELTIFs are a game-changer for retail and institutional investors. ✅ How long-term investment strategies can align with your financial goals. Ready to learn more? Go to greenmanopen.com to discover how ELTIFs can complement traditional savings tools like pensions and deposits while driving sustainable economic growth.

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Are you a potential home buyer waiting for better rates? 🤔 Don't make this common mistake 👇 With talks of ECB rate cuts over the last number of weeks, there has been an increasing expectation that mortgage rates are going to decrease amongst mortgagees in Ireland - but this is not strictly the case. While it may be possible to see a decline in mortgage rates, it is not expected to be significant enough to deter you from taking our your home loan now. Learn more about this latest industry insight here 👉https://lnkd.in/eixty9aB Need advice? Talk to our expert team of mortgage advisors today and let us help you with any and all of your mortgage queries ❓ 📞 0818 183033 📧 [email protected] #Mortgage #MortgageRates #MortgageBroker #MortgageInsights #ECB #Broker #GoBroker

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Dublin’s Apartment Crisis: MMC and Infrastructure Investment Emerge as Potential Game-Changers "It has been a busy week for data ‘dumps’ and industry events (many overlapping), with some interesting, albeit contradictory commentary arising from each. According to data published by the four local authorities in Dublin, there is a critical issue with apartment construction in the city. While planning permission is in place for 82,700 new homes, with almost 84% being apartments, work has only started on 26,492 units. Significantly, 56,208 units have yet to start development, over two-thirds of the total. Of these, 50,180 are apartments, with Dublin City Council area alone accounting for 21,656 of these unbuilt units. The Society of Chartered Surveyors Ireland (SCSI) found that the cost of building a typical apartment in Dublin was €2,363 per square metre, over €300 higher than the average across 10 European cities surveyed, with only Zurich being more expensive..." Read more: https://lnkd.in/eZijb4zk

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We are delighted that Close Brothers Commercial Finance has joined the government-backed Growth and Sustainability Loan Scheme. The increased participation of finance providers in the Irish market for Growth and Sustainability loans will lead to more competition and choices for Irish SMEs and primary producers. The Scheme has been designed to help businesses looking to invest in greener measures and grow profitability by providing low-cost loans of up to €3 million with terms of seven to 10 years. Supporting Irish businesses’ growth and sustainability is a core objective of the SBCI. Department of Enterprise, Trade and Employment Department of Agriculture, Food and the Marine European Investment Fund (EIF) European Investment Bank (EIB) #Sustainability #Growth #greeninvestments #greenfinance

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New Report | European Lender Intentions Survey 2024 Our European lender survey has been released with responses from 130 lenders. Positively for the market, almost two thirds of lenders will increase their activity this year. Notably for the Irish market where non-bank lenders are playing an increasingly important role, 76% of this lender group will lend more this year, with residential and industrial again being the favoured sectors. Other key points: ▪ Debt markets remain resilient, with higher lending activity expected in 2024 relative to last year ▪ This is a sign of robust confidence in the stability and growth prospects of European property markets ▪ Lenders are prioritising sustainability in their underwriting process Please contact Peter Keegan or Christian Judd of the CBRE Irish Corporate Finance team should you wish to discuss further. Read our inaugural European Lender Intentions Survey 2024 for more: https://cbre.co/3xFYY67

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Irish Commercial Lending: Key Trends and Challenges in 2024 An article by Tiarnach Mc Ginnity, Lending Manager, Novellus Finance Ireland. This article examines the evolving Irish real estate market in 2024, covering trends in residential and commercial sectors, sustainability initiatives and foreign investment. Read more below. https://lnkd.in/evnSrX3z Novellus Finance | Novellus Finance Ireland #Finance #IrishRealEstateMarket #RealEstateTrends

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Thinking about a green mortgage? To qualify, your property must meet specific energy efficiency thresholds, such as a Building Energy Rating (BER) of B3 or above. Purchasing a new home with a high BER rating or upgrading an existing property can make a difference environmentally and financially. Wouldn’t it be incredible to see reduced energy costs and long-term savings, all while contributing to national energy efficiency goals? Learn more about the benefits of green mortgages for Irish homebuyers: https://lnkd.in/eTPHcdbM

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ECB rate cuts spark eurozone mortgage lending surge in July. Mortgage lending in the eurozone surged to €71 billion in July, the highest level since August 2022, driven by falling interest rates as the European Central Bank began easing monetary policy. Deutsche Bank and ING Groep report strong growth in home loans, anticipating further increases as the ECB continues to cut rates. https://lnkd.in/g3bxFVdR #mortgagelending European Central Bank Deutsche Bank ING GROEP NV-CVA James von Moltke Tanate Phutrakul #homeloans #eurozone #realestate #housingmarket #interestcuts #loansgrowth MENA Newswire

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🏦 How the Recent ECB Interest Rate Expectation is Set to Impact the Irish Housing Market The European Central Bank (ECB) is expected to cut interest rates by 0.25%, a move that could significantly impact the Irish housing market. Here’s how this anticipated rate change may affect homeowners and prospective buyers: 💰 Decreasing Mortgage Costs: Lower interest rates will reduce monthly repayments for those with variable-rate mortgages and offer lower rates for refinancing fixed-rate mortgages. 📈 Increased Demand: Lower borrowing costs could attract more buyers, potentially driving up housing prices, especially in urban areas like Dublin. 📉 Rental Market Pressure: With more people potentially shifting towards buying homes, rental demand might decrease, impacting rental prices and affordability. 📖 Read more in our latest blog! https://buff.ly/4cyqkKv #ECB #InterestRates #HousingMarket #MortgageRates #HomeBuying #RealEstate #DublinHousing #PropertyMarket #RentalMarket #FinancialNews #IrishRealEstate #HousingDemand #MarketTrends

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Following the release of our Q3 market reports, in this video CBRE Ireland’s Head of Research Colin Richardson summarises some of the key trends from the data and also provides a market outlook for the remainder of the year. Key Highlights: 📉 With interest rates falling, swap rates are now at the lowest point since the onset of interest rate hikes in mid-2022. ✅ 60% of all Dublin office take-up in Q3 involved BER A rated space, and total take-up is on course to reach over 185,000 sq m in 2024. 💶 A bumper Q4 is expected in the investment market. Total spend this year could reach €2.5bn. 🏢 Yields are now trending stable across several of the key sectors, most notably prime offices, some of the retail subsectors, and residential assets. 📢 With the date for the next general election now confirmed, a review of rent cap regulation is required to attract institutional capital back to the residential market. cbre.ie/research

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Mortgage Arrears Hit Lowest Level Since 2009 📉 New figures from the Central Bank show positive progress in tackling mortgage arrears in Ireland. Between April and June, the number of homes in mortgage arrears fell by 4%, bringing the total to 45,843. This marks a continued trend of decline, providing relief for many homeowners. Key highlights: ▫ Long-term arrears (over 1 year) dropped to 20,065 accounts (2.9% of all home mortgages), a 6% annual fall. ▫ Arrears over 90 days decreased to 28,197 accounts, down by 572 from March—the lowest share since Q4 2009. ▫ Early-stage arrears (under 90 days) saw a 7% drop (1,205 fewer accounts). ▫ Non-bank entities now hold 61% of home mortgage arrears, up from 55% in June last year. The outstanding balance on mortgages in arrears for more than 90 days stands at €5.7 billion. On the Buy to Let (BTL) side, there were 8,660 BTL mortgages in arrears at the end of June—a 5% quarterly and 14% annual decline. Restructuring efforts continue to play a pivotal role, with 54,735 mortgage accounts restructured by June, representing 8% of total accounts. Encouragingly, 80% of restructured accounts are not in arrears, and 83% are meeting the terms of their current arrangements. #MortgageArrears #HousingMarket #HomeOwnership #IMA https://lnkd.in/e436cBxN

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Approval in Principle is an essential step in the home-buying process as it; 💰Defines Your Budget: Helps you understand how much you can afford, narrowing down your home search to properties within your financial reach. ✅Boosts Credibility: Shows sellers that you are a serious and qualified buyer which is important in the current competitive market. 🏃‍♂️Speeds Up the Process: Streamlines the mortgage application process once you’ve found your forever home, making it quicker and easier to secure your mortgage. 🔍Identifies Issues Early: Uncovers any potential financial issues that could affect your application, giving you time to address them before making an offer. Need further advise on the mortgage process? Contact Humdinger Mortgages today 👉 https://lnkd.in/eQR8NR8J

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CBRE Ireland today released its Irish Investment & Funding Report for Q3 2024, which confirms that almost €600 million was invested into Irish commercial property in the last quarter. Notably, this is the highest level of quarterly spend in the Irish market since Q1 2023. This rebound in investment is the result of several factors, including a narrowing of the bid-ask spread, ECB base interest rate cuts and an increase in receivership sales.   Among the major deals in Q3 was the sale and leaseback of Primeline Group’s warehousing units in Ashbourne, Co. Meath. Notably the transaction represents Deka’s first logistics acquisition in the Irish market.   According to head of research at CBRE Ireland, Colin Richardson, “There has been a continued uptick in transactional activity in the investment market in the last quarter, driven partly by the downward trajectory of interest rates and thus the wider spread between CRE yields and the cost of debt. There are a number of large-scale transactions ongoing at present which, should they close in the next three months, will push full-year investment volumes to above the level seen in 2023”. Read the report - https://lnkd.in/gwDB3zrn Colin Richardson | Emer Geissel | Niall Little | Kyle Rothwell | Dessie Kilkenny | Shane Cahir | Christian Judd | Peter Keegan | Annabel Sharkey

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