International investors providing boost to Northern Ireland property market
According to CBRE, over the past 12 months the Northern Ireland property market has experienced a lot of first time international investors including Marcol, Rockspring, Stargime and NewRiver Retail. "The most attractive element for investors at present is the notable gap between the yields on offer in Northern Ireland and those prevailing in other competing regional cities in the UK," said Brain Lavery, CBRE Managing Director. He went on to add that the introduction of a reduced corporation tax in Northern Ireland could be a "real game changer" for the market and the economy. 

Ireland Property Matthew Ord

The Northern Ireland property market is benefitting from a strong appetite courtesy of a variety of investors, according to CBRE.

Speaking at an investment conference at its London headquarters, the property consultancy highlighted the significant competitive advantages the country offers compared to other UK regional markets at present.

Over the last 12 months in particular, Northern Ireland has experienced a significant number of international investors entering the market for the first time including Marcol, Rockspring, Stargime and NewRiver Retail.

Brian Lavery (pictured), managing director at CBRE in Belfast, said: "There is strong appetite from a range of different investor types for opportunities in the Northern Ireland market at the moment.

"Belfast offers a compelling value proposition compared to regional UK cities and this is being recognised by occupiers and investors alike. We are anticipating an uplift in rental values in all sectors over the next 12 months, particularly in the office sector.

"However, the most attractive element for investors at present is the notable gap between the yields on offer in Northern Ireland and those prevailing in other competing regional cities in the UK."

He added that there is "every reason to remain confident" regarding the introduction of a reduced rate of corporation tax in Northern Ireland which he believes will be the "real game changer" in relation to both the property market and the economy.

Roberty Ditty, director investment team at CBRE, said: "With so little grade A office space available and demand continuing to increase at pace, there are significant requirements for new build and refurbished office space.

"There is also scope for a number of major hotel developments to attract global branded hotel operators in order to satisfy future demand expected from the new exhibition centre at the Waterfront Hall.

"We have also just had the good news recently of the Open golf championship coming to Royal Portrush in 2019, which will undoubtedly help to put Northern Ireland on the map to more international tourists."