Almost 800 million euros were invested in the Irish real estate market in the third quarter with a total volume of € 3.5 billion in the first nine months of the year.
Charlie Taylor reports that this represents the highest volumes in the January to September period, double the number in the first three quarters of 2020, recording billion and 5.25 billion euros. According to CBRE Ireland, there has been a “very notable increase” in investor activity in the industrial and logistics sectors of the market, with more than € 442 million invested in industrial investment properties in Ireland in the first nine months of the year.
Charlie sticks to the real estate market and also reports on DNG numbers showing the cost of Buying a used house in Dublin rose in the three months to the end of September by 2.1 percent, the average price paid in capital is now 492,531 euros, new figures show. This represents a slowdown in price growth compared to the first two quarters of the year, which saw a 3 percent increase.
Finance Minister Paschal Donohoe meets today with EU Competition Commissioner Margrethe Vestager to get over “Tax issues”, according to a statement from the Ministry of Finance. The meeting takes place as the OECD corporate tax reform program enters an important week. Cliff Taylor has the details.
Dominic Coyle reports that the small business lobby, Isme and Brokers Ireland, which represents financial advisors, has urged the government to increase financial support for private retirement provision. The groups have written to ministers outlining measures that, it is said, would eliminate “pension discrimination against self-employed and private sector workers”.
In your column this week Pilita Clark Money is not all in the big re-evaluation that is currently taking place as many workers consider what their life should be like after Covid. In a recent meeting with multiple executives, Clark said that they described more autonomy, more recognition, more flexible hours, better vacations, and anything that makes work life generally more enjoyable than the elements that attract and retain employees.
The service company EY Ireland has confirmed plans to start a new law firm. The decision follows similar steps taken elsewhere, with EY Law currently available to clients in 92 countries. According to EY, the law firm will initially specialize in digital, tech and commercial, corporate M&A, employment law and real estate.
Charlie reports that Irish consulting giant Mercer. for staff and social benefits Almost 53 million euros in dividends paid out to the parent company last year after seeing an increase in revenue and profits. Newly filed accounts show it nearly doubled the dividend it paid to its parent company at the end of the year, after paying out € 27.2 million a year earlier.
Cider Ireland Chairman Daniel Emerson writes that the state can help Craft cider brewer emulate the beer boom and that a cut in excise duties and the introduction of a minimum unit price would help level the playing field in the beverage industry.
A defensive UK Treasury Department can’t convince things to get better, writes Martin Wolf. While Brexit allowed Britain to temporarily transfer anger and disappointment to a nationalist cause, politicians must now consider radical alternatives to tackling an awkward normal.
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