A few trends that are evident in the current Commercial Real Estate market are being watched closely by market observers. These include inflation, interest rate movements and reduced occupancy levels in the office market especially in the neglected older stock.
Some recent market reports referring to increasing office vacancy rates surging from single digit rates in 2022 to over 14% in 2023 and forecast to reach c 18% in early 2024.
This has led to a shift from a landlord’s market, to a tenants market or from a sellers to a buyer’s market depending on the sector. With this shift in market sentiment the first half of 2023 saw a substantial reduction in activity levels, with many Agents reporting over a 50% reduction in Investment Market volumes compared to the same period in 2022
However some sectors of the market are performing better than others, especially Logistics/Industrial (limited stock) and Prime Retail/Retail Park where market pricing/rental adjustments during 2021/2022 have created more sustainable models for both Landlord’s and Tenants.
Trying to navigate your way through the current trends can be challenging and frustrating to say the least and the problem is further complicated by reduced supply of stock in other sectors like Industrial/ Logistics and Investment stock some of which are trading quietly off market.
We are happy to report that we have adapted our own property listing service this month, moving away from the general property listing model to a targeted bespoke property sourcing model.
More recent experience in the current market has created a demand for our professional property sourcing service. Outsourcing your property requirement with Propertylocator.ie not only helps Companies and Investors understand the current market trends, it also reduces frustrations and time period spent on property searches that can sometimes fail at the last hurdle!
Propertylocator.ie takes the hassle out of your property search and accelerates your chances of finding your next premises.
