Rents continue to fall
Tuesday the 16th of December 2008
The IMF has once again revised their projections for world output growth downwards to 3.7% in 2008 and 2.2% in 2009. The slowdown is most pronounced in advanced economies where output is projected to shrink by 0.3% in 2009.
In Ireland commercial rents fell 10.85% during 2008.
The retail rental index shows a drop of 11.51% in 2008. The greatest fall occurred on Grafton Street, which experienced a 22.73% drop in 2008 as a correction from unsustainably high rental levels took place.
The latest CSO figures for industrial production indicate a fall of 10.3% in the year to October 2008.