Retail
The opening half of 2024 has seen a growing number of highprofile retail occupiers take up floor space across Dublin, continuing a trend seen in the latter half of 2023. Grafton Street and its surrounding areas have witnessed some notable additions with sportswear brand Castore opening a new flagship concept store, fashion group Icicle moving into the former Royal Bank building, and Danish lifestyle brand Rains opening its first Irish store on Wicklow Street.
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Investment
Irish investment volumes recovered in the second quarter of the year, reaching a total of €514 million across 29 deals. After a very quiet start to 2024, volumes reached their highest levels since Q1 2023 in the second quarter with deal flow well spread across all the major sectors.
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Development Land
Check out our most recent Ireland H2 2023 Land Development Marketbeat and get up to date information on the sector. Irish development land activity decreases in 2023 but residential sites remain popular. Activity levels in the development land market recorded just under €246 million of transactions in the second half of 2023, spread across 52 deals, down from over €456 million recorded for the same period in 2022. This brings total investment for the year to approximately €355 million, significantly down from the €852 million recorded in 2022. Read the full H2 2023 Development Land marketbeat today.
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Hospitality
Our latest Ireland Hospitality Marketbeat shows that from an economic perspective the outlook for the hotel sector remains positive – the latest Irish labour market data show all-time high employment of 2.66 million across the economy while average weekly earnings grew by 4.6% compared to the same period in 2022, both of which supports the leisure spending outlook. In terms of Ireland tourism trends, we estimate that on a twelve-month rolling basis inbound arrivals surpassed pre-COVID levels in the final quarter of 2023. Furthermore, Oxford Economics’ latest forecasts for international visits into Ireland continue to point to sustained growth with increases of 5% and 7% respectively expected for 2024 and 2025 respectively. Get the full Ireland Hospitality commercial property marketbeat today
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