Managing Director Gunne Commercial

According to the "chief executive survey" compiled by Gunne, the fundamental factors which have driven the Irish property market in the past remain in situ for 2000. More than 70 per cent of respondents believe the economy will achieve a 6 per cent growth rate; interest rates will remain low, and both positive net inward migration and foreign investment will prevail at current levels.

As a result, the supply and demand curves for each of the occupational markets (office, industrial, retail) remain encouraging, taking into account the planning and construction process, together with the anticipated demand.

On the investment front, there will be continued demand from the private and institutional markets. Lack of product will be a major issue,

thereby driving down yields. Also, investors will continue to explore pre-funding opportunities, in search of higher initial returns.

Overall, property will continue to hit the headlines as a favoured investment medium.