A brief overview of the Irish economy with Colliers International’s outlook for each property sector, including insights and forecasts for the future
On the global stage, Ireland has recently had a few privileged appointments to key positions within the EU. With the UK stepping out, the US needs to have a new conduit into the senior levels of the EU to make their positions clear. Ireland is perfectly placed for this particularly in light of Joe Biden’s election success. The US should be a supporter of the Irish tax position (and in that regard a “super sub” with UK leaving the pitch) and hence an ex-EU ally in that ongoing battle. Bottom line, in the absence of the UK, the Irish EU position should be strengthened beyond it perceived size.
The main Irish market sub-sectors are varied, with retail unsurprisingly feeling the brunt. However Capital Markets are solid, with a continuing weight of global capital still attracted to Ireland - key focus on PRS, Social Housing, Logistics and, bucking the “office environment has changed forever” mantra from some quarters, Offices.