From Europe-re.com: More than a quarter of Irish commercial property income is over-rented, research by IPD shows. Sweeping declines in rental values has led to widespread over-renting across all sectors, reaching 26.3% by Q2 2010, according to the SCS/IPD Irish Quarterly Index.
IPD research analyst James Scott, said: “Significant falls in net income growth have not followed on from the deep rental re-pricing, as would be typical. Instead income streams have remained robust due to the nature of long Irish leases and the still operating upwards-only rent review structure.”.............................................Full Article: Source
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