Ireland's commercial property sector has deteriorated drastically in recent months against a backdrop of weakening economic indicators and financial market turmoil, according to a new report from CB Richard Ellis. The lack of bank funding is having a very significant impact on levels of transactional activity in the development and investment sectors. Indeed, only EUR 465mln of investment transactions were concluded in the Irish market in the first nine months of 2008, reflecting a 70.1% drop on last year's figure of EUR 1.6bn.
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