Europe

German and French funds target Dublin as investors recalibrate

Brexit will make Ireland the only native English-speaking member of the EU

The Irish investment market could benefit from the UK’s impending withdrawal from the European Union.

Brexit will make Ireland the only native English-speaking member of the EU and its more beneficial corporate tax rate could attract international capital.

John Moran, chief executive of JLL Ireland, said: “We are starting to see quite a significant upsurge of German and French funds. Even in the 48 business hours after the result of the vote, enquiries rose significantly.”

Despite these enquiries, a decline is expected in Ireland’s  growth rate and its stock exchange was the worst-performing in Europe on Monday, falling by 10% because of its reliance on trade with the UK.

Marie Hunt, head of research at CBRE Ireland, said the unexpected vote could dent investor confidence and delay transactions, but she added that even before Brexit concerns, total capital returns were forecast to be lower in 2016. Volumes are expected to be €3bn (£2.5bn) this year – down by one quarter on 2015, when deleveraging by Nama was at its highest.

Hunt said: “Some investors may put their decision on hold, but others may see it as an opportunity. There was huge opportunity after the crash. That has rebounded to buying into a core market as opposed to an opportunistic market.”

Other News

Greater London’s planning application hotspots

EG has picked out the top eight London postcodes that have seen increases in planning applications. The hotspots, located mainly across outer London, averaged just three… Read more »

E Europe

Blockade means uncertainty for future of Qatari investment

There can be absolutely no doubt about the extent of Qatar’s heavy investment abroad in recent years. Since 2004 the gas-rich Gulf state has invested… Read more »

E Europe

UK owners still dominate London office ownership

Cash from around the world has poured into the capital’s business districts in recent years, but domestic owners still rule the roost. Looking at office… Read more »

E Europe