Commercial property investment fell 42% in 2023

Commercial property investment fell 42% in 2023, to €1.75 billion, reflecting the rise in interest rates, according to consultancy Cushman & Wakefield (C&W), which anticipates a recovery in 2024. Of the €1.75 billion, the hotel and retail sectors accounted for 42% (€750 million) and 35% (€600 million) respectively of the total amount invested, while the office and logistics markets accounted for 9% and 4% respectively. C&W managing director Eric van Leuven admitted the dip in the volume of investment had “a lot to do with the rise in interest rates”.