Dáil Éireann Debate, Tuesday - 6 October 2009
351 Deputy Joan Burton asked the Minister for Finance his views on the most recent evidence of trends in yields on commercial property here; his further views on the refusal of some property owners to leave properties vacant rather than negotiating rent downwards, thus undermining their yield; and if he will make a statement on the matter. [33916/09]
View answerAs Minister for Finance, I have no function in relation to rental contracts on private commercial property. However, as I said during the Second Stage debate on the National Asset Management Agency Bill 2009, yields are now above their long term average, which suggests that values are bottoming out. I also provided statistical tables in the published supplementary documentation which demonstrates that the gap between yields and interest rates is much higher than at any time since the mid 1990s.
