What next for the Commercial Real Estate Sector in 2024

Roisin Bennett, Head of Property, in Reddy Charlton, joined James Nugent of Lisney and John Moore of RBK earlier this month in delivering a presentation entitled “What next for the Commercial Real Estate Sector in 2024”

2023 was a difficult year for the Irish real estate market, with multiple challenges including inflationary pressures, the ever increasing cycle of interest rate increases and the focus on environmental, social and governance (ESG) issues which brings with it additional regulatory compliance.

In addition, the fall-out from the pandemic continues to over-hang the property market with the seismic shift in working practice continuing with hybrid and remote working models becoming established. Recent reports suggest a significant disconnect between what employees increasingly want (hybrid/remote) and what employers may prefer (return to the office).

All of the above create an exceptionally challenging landscape for employers and for property investors. But is there light at the end of the tunnel? Certainly inflationary pressures are slowing down and there are rumblings of potential reductions in interest rates. What impact will this have? Do the ESG regulations provide opportunities for investors as to where they should put their money and to employers as to how they can attract talent back to the office?

The above issues were discussed and debated as part of the presentation and a link to the recording can be found here: Link to recording