If you have read a newspaper of late, you’d be forgiven for thinking that Brexit is the only issue in town
But even if that is the case for politicians, it is certainly not true for property developers on the Emerald Isle. They are pushing ahead with a veritable smorgasbord of multi-million-euro investments in schemes across the island.
Take, for instance, IPUT chief executive Niall Gaffney’s ambitious punt on Wilton Park in Dublin and his plans to renovate the firm’s expansive office portfolio. Or look north to Osborne+Co’s £400m Waterside regeneration scheme in Belfast. Even Bunratty Castle and Folk Park, a 15th-century historical attraction in County Clare, is subject to a five-year plan that aims to double visitor numbers compared with 2016.
Then there’s Northern Ireland’s retirement living market. A swathe of wealthy baby boomers looking for somewhere to retire has led to the development of multi-acre retirement villages, something that would have been unheard of just a few years ago.
Will all these schemes deliver on their promises? Maybe. Maybe not. But Ireland’s property market is not dependent on the success or failure of a few schemes. It depends on the will of developers, the confidence of their investors and their ability to look past Brexit. And at the moment, that seems to be exactly what they are doing.
Mitchell Labiak is Property Week’s market reports editor
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