Belfast office investments are outperforming UK and EU averages

Returns on investments made in office property in Belfast are far outperforming the UK and EU averages according to a new report by MSCI and Ulster University.

The Northern Ireland Commercial Property Investment Review report for 2018 has been released, and things are looking good for investment in the region. Belfast was singled out for its high investment performance in the office market, with returns of 12.4% beating the UK average of around 6% and the European average of 8%.

The total commercial property market in Northern Ireland underperformed other UK regions with only 1.7% returns for investors, which the report attributed to the fact that 72% of Northern Ireland's commercial property is retail space. Northern Ireland also came up highest in income return of investments at 7%, with Scotland at 5.5%, Wales at 5.8%, England (excluding London) at 5%, and London at 3.5%.

Professor Alastair Adair, Deputy Vice Chancellor at Ulster University, commented: "The welcomed growth in the office market reflects the new investment dynamic in the city region. The modern breed of IT and professional services occupiers are highlighting Belfast as a progressive, go-to and contemporary location offering investment opportunities comparable with and exceeding other European locations."

Source: Written based on press release