The London researcher IPD is expected to confirm later today that capital values in the Irish commercial property market rose in the three months up to last December – the first time they have shown some signs of recovery in four years.
The IPD index is likely to show that values rose by 0.2% in the final quarter because of a drop from 6 to 2% in stamp duty and the Government’s decision not to introduce a retrospective ban on upwards-only rent reviews.
Last week, agent Jones Lang LaSalle estimated that capital values rose by 1.2% in Q4. IPD’s finding will be welcomed by the commercial industry which saw values fall by 4.6% in Q3 and by 64.9 % since 2007.
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