Second and final year students explore the Irish property markets
Sunday 21 September 2014
Our second and final year BSc Real Estate students investigated the Irish property markets in their recent four day international real estate investment themed field trip. The trip explored the political, economic and social factors at play in Belfast and Dublin, and included on-site briefings at the Northern Ireland Assembly, Dublin City Council and 10 other key stakeholder organisations.
In Dublin we saw the physical legacy of the Republic's 'Celtic Tiger' boom and bust, visited ghost estates of part-build housing and heard from the National Asset Management Agency how the real estate assets caught up in the Republic's toxic loans are being addressed.
In Belfast we saw the aftermath of the closure of the ship yards, considered the influence of sectarian 'peace walls' upon the residential markets, and heard of Belfast's own recent housing price bubble. Touring the Stormont parliament we also heard how politics shaped the very design of that iconic building.
The trip was anchored around a comparison of the Belfast and Dublin dockland regeneration schemes and their very different offices markets, exploring with the help of local property agents, developers, occupiers and planners and fellow academics from Ulster University and Dublin Institute, the significance of differences in taxes, investor appetite and occupier demand between the two cities.
Our tour ended with a briefing from Dublin Airport Authority on how they manage and exploit their airport as a property asset. Our students also carried out their own extensive investigation of the night time leisure economy in both cities.