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1.Market Observations, 8.Was Sticky

3 Oct 2018 (AFR) – Dublin real estate highlights booming Irish economy

(3 October 2018, AFR, p37, by Peter Flanagan)

‘Cranes again pepper the city centre. Celebrity restaurant hot spot The Ivy has opened close to parliament, hoping for an influx of bankers fleeing Brexit. In the same complex, Barclays is paying €4000  ($6410) a year apiece for car parking spaces and €2.36 million annual rent at its new offices. Barclays’ rent is 13 per cent more than the most recent estimate for the property, Green Reit, which owns the building, said last week. Stoked by demand from finance, technology and legal firms, rising prices are helping push office construction back to Celtic Tiger levels. Then, the boom collapsed, with devastating consequences. A decade on, the market is being closely watched for signs of overheating, as economic growth hits 9 percent.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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