Belfast’s commercial property market is buzzing according to an independent report from Ulster University, with investors enjoying some of the highest annual returns in 32 years.
Produced in partnership with Investment Property Databank (IPD), the report bencmarks Belfast’s performance against 15 gateway European cities and ranks Belfast second only to Dublin in terms of income return, outperforming the major commercial property hubs of London, Paris and Copenhagen.
It reveals that Northern Ireland’s commercial property income returns grew by 8.9 per cent in 2013 and records rental values as appreciating by 2.8 per cent year on year, the first significant growth since 2006.
“This independent research points to a strengthening of the market in Northern Ireland,” said Dr Martin Haran, lead researcher from Ulster University.
“To be able to benchmark Belfast relative to other cities across Europe on a like-for-like basis is critical in the modern investment climate.
“The research provides clear evidence of the investment potential of the Northern Ireland property market to the international investment community, providing key performance indicators which serve as the basis for investment decision-making.”