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Daily Market Update

Latest Economic & Market Update 2nd October 2020

Good afternoon, it is October 2nd 2020 and here is your economic and market update from BlackBee. 

Today’s focus:

  • Graph of the Week: Commercial Property Investment has 59% uplift in Q3 from Q2; Quoting rents unchanged with Tech Companies driving the rental uptake
  • US President Trump and First Lady test positive for Covid-19 

Graph of the Week: Commercial Property Investment has 59% uplift in Q3 from Q2
Quoting rents unchanged with Tech Companies driving the rental uptake

Source: CBRE October 2020


Figures released by property consultants CBRE show an uptick in commercial property investment activity in Q3 in comparison to Q2 2020. Total spend for the first 9 months of 2020 reached a value of nearly €2.4 billion, €680 million of which was in Q3, compromising 14 transactions. 29% of spending in Q3 was on office buildings while 69% was spent on multifamily assets. Head of Capital Markets at CBRE, Kyle Rothwell, said that the transactional activity in Q3 was considerably less than what would have been had the country not entered lockdown, however, it is a decent result considering the underlying backdrop and inability of investors to travel to inspect buildings. Following Q2, which was considered a lost quarter for the market, Q3 had a 59% uplift in volume. Mr. Rothwell also stated that “The continued low interest rate environment coupled with unallocated capital positions means that there is now considerable investor liquidity built up and looking to deploy into Irish real estate, and there has been good underlying demand for assets that have been formally launched for sale since the Autumn season commenced”. These Q3 figures, along with technology companies driving the rental take up in Dublin, demonstrate the resilience of the Commercial Property Market in Ireland and are aligned with BlackBee’s investment opportunities and strategy in Commercial Property.

Best & Worst Performers of Large Cap US Stocks on Thursday
Click image to enlarge

Global Market Update
(as at close of markets 01/10/2020)