Property consultants CB Richard Ellis said on Tuesday that it expects 2008 to be a challenging year for some property sectors in Ireland. In its Outlook report for the Irish property market, the property consultant is relatively upbeat about prospects for the commercial property sector, but added that activity in the residential sector in Ireland will remain relatively stagnant this year and particularly in the first half of 2008. CBRE believes that house completions could realistically fall by another 30% during the next 12 months.
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