Prime pubs in cities and large towns saw their value decline by 8 per cent last year, with secondary and rural pubs suffering greater declines, the Irish Auctioneers and Valuers Institute (IAVI) said.

It found that prices for prime rural "road houses" fell by up to 25 per cent, with random breath testing blamed in part for the drop. Prime village pub prices fell by 20 per cent, according to the survey. Pub sales were slow last year, particularly in the second half, with no IAVI member reporting a "landmark" sale after May.

Office rents rose across all types of accommodation in Dublin last year, with Georgian offices among the best performers. Rental yields were steady outside Georgian properties, which saw rental yields grow from 4.5 to 4.7 per cent last year.

Rents also rose in the shopping centre and industrial segments of the market although the increases in 2007 were fractional, especially outside Dublin.

Separately, estate agent Jones Lang LaSalle said yesterday that 11 per cent of Dublin offices were vacant at the end of 2007. The agent said an increasing number of firms are seeking to relocate from Dublin city centre.