Oireachtas Joint and Select Committees

Thursday, 2 April 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

The UBS investment report was the report that led to a 30% share price fall in some Irish banks overnight. The newspaper reports from that time indicated that the report issued warnings in regard to Ireland's commercial property sector. It states:

We believe that the risk to the value of retail shopping centre space in Ireland is on the down side in the near to medium term due to three factors. Firstly, rents are already the second highest in Europe. Secondly, available shopping centre space is the third highest in Europe and is forecast by the Bank of Ireland to increase by another 60% in the next five years. Finally, retail spend is likely to be falling due to commercial confidence.

Is Ms Hunt familiar with that report?

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