A new survey has revealed a rise in the number of queries from UK commercial property agents seeking to relocate to Ireland following Brexit.

In its Q3 Ireland Commercial Property Monitor, the Society of Chartered Surveyors Ireland (SCSI) stated 29% more respondents have already had UK agents enquire about moving to the country following the UK's decision to leave the EU.

In addition, 73% of participants are forecasting an increase in firms looking to move from the UK over the next two years.

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Claire Solon, the President of the SCSI, said: "The increase in enquires to agents here from firms looking to relocate from the UK is significant but it's important to note that agents in Germany and Poland also recorded a similar increase while other countries such as Holland, Spain and France also saw a rise in queries. It's clear that while Brexit may generate opportunities it will also generate stiff competition from fellow EU members.

"Investment enquiries in Ireland continued to pick up across all sectors, with the retail segment seeing a resurgence in activity. However, foreign investment demand only increased fractionally for the second quarter in succession with the indicator softening considerably relative to twelve months ago. So there is an element of uncertainty out there."

(LM/MH)