Irish looking to invest in the UK - commercial mortgages

01 November 2007

Investment from Ireland could buoy the UK commercial mortgages market in the coming months, a new report from Jones Lang LaSalle has implied.

The firm''s study has found that Irish investors spent some £5.7 billion on overseas property in the first nine months of the year, a figure well in excess of the £700 million invested in Irish property over the same period.

The retail sector was most popular among investors, the study added, with the UK the most popular area for investment.

"Despite the fact that economic uncertainty coupled with the impact of the credit crunch are resulting in negative sentiment and a slowing down in deal activity generally, savvy Irish investors know that property remains the best performing asset class," said John Moran, director at Jones Lang LaSalle.

"Our prediction for 2008 and beyond is that due to credit crunch uncertainty and volatility in both the domestic and European markets, the UK in particular will deliver some very worthwhile buying opportunities at reduced price levels," Mr Moran added.

The London office market is among the most buoyant parts of the UK commercial property sector, according to recent research.