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News Release

Dublin

Significant growth in values across all property sectors

The JLL Irish Property Index (attached) performed strongly this quarter, with significant increases in Overall Returns and Capital Values.


​The JLL Irish Property Index performed strongly this quarter, with significant increases in Overall Returns and Capital Values.
Hannah Dwyer, Head of Research at JLL said that “Overall Returns were positive for the tenth consecutive quarter, with an increase of 9.1%. Year-on-year Overall Returns increased by 24.9% which equates to Returns levels in 2005 and 2007.”

Overall Capital Values increased for the fourth consecutive quarter, with growth of 6.8%. Offices had the greatest increase (+7.8%) followed by Retail (6.7%) and Industrial (2.4%). It is the third consecutive quarter that there have been Capital Value increases across all sectors. Office capital values increased by 19.0% in the last 12 months.


Rental Values increased overall by 1.2% in the last 3 months and 7.9% in the last 12 months. Offices had the greatest increase in Rental Values of 18.0% followed by Industrial (4.8%). Disappointingly, retail ERVs remained negative, with a decrease of 0.1% in the quarter and -2.4% in the last 12 months. Although negative, the pace of decrease is slowing. 

Hannah added that “The recovery we are starting to see in occupier markets has positively impacted the Index this quarter. Indicators are positive for the market and show continued signs of improvement.”