Joe Higgins (Dublin West, Socialist Party) | Oireachtas source

On page 6, Mr. Moran said, "Irish yields tightened significantly between 2003 and 2006, compressing from 6.00% to 3.70% for prime offices for example. At these levels, international purchasers were priced out of the market, with more competitive yields available in other European countries". Do I understand that European capitalists became wary of what was going on because they felt that prices were far too high in Ireland and they went elsewhere? Is that how to read this? If that is the case should alarm bells have sounded?