Another report on the property market says it will continue to perform strongly this year.
The report - from solicitors Eugene F Collins - says that continued growth in commercial retail property developments nationwide, a recovery in the Dublin office market and increased land sales for development will underpin growth in the commercial property market this year.
In residential property, the ongoing shortage of second hand homes for those looking to trade up will sustain high prices, it adds.
The report says that retail was the best performing commercial property sector last year and it expects this trend to continue this year. 2005 will see the opening of a number of major retail developments nationwide after the recent openings of Mahon Point in Cork and Dundum Town Centre in Dublin.
Eugene F Collins says there are plans to redevelop Stillorgan and Rathfarnham shopping centres - both in Dublin - and new market entrants Aldi and Lidl are actively seeking sits to redevelop.
Looking at the potential impact of the removal of the Retail Guidelines to Planning Authorities, the solicitors say it remains to be seen how this will affect the market in the long run.
'We anticipate that the Ikea factor bought about by the removal of these guidelines will encourage applications for further large sale developments by retailers to capitalise on the new regime into the coming year,' they added.
