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Ireland MarketBeats

Tom McCabe • 09/04/2024

Retail

Throughout 2023 improving market fundamentals surrounding the retail sector and its asset types have contributed to increased investment volumes, which saw over €402 million invested in retail assets throughout Ireland over 36 transactions. This represents an 8% increase when compared with 2022 overall and was the highest annual total recorded in both volume and number of transactions since 2019. The most sizeable transaction of the year was the sale of a portfolio of six shopping centres in the third quarter to Davy for €74 million. Other deals of note in 2023 included the sale of a regional retail park portfolio to Realty Income for €45.9m and the acquisition of Marshes Shopping Centre Dundalk for €29 million by Davy. Retail assets accounted for close to 19% of overall investment turnover in Ireland in 2023, up significantly from just over 8% in 2022.

Download Retail Marketbeat to get the full picture.

Investment

Irish investment volumes collapsed to only €161 million across 20 deals in the first quarter of 2024, marking the lowest levels seen since 2013. Although the first quarter of the year tends to be a slower one for transactions from a seasonality point of view, Q1 was particularly disappointing with transaction volumes approximately 80% below first quarter five- and ten-year averages. The Q1 volumes were hurt in particular by a distinct lack of deals in the office and industrial sectors with only approximately €20 million of transactions occurring across the two sectors combined. On the opposite end of the scale, the residential and retail sectors accounted for over 70% of the first quarter investment total.  

Download Investment Marketbeat to get the full picture.

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.

Download Development Land Marketbeat to get the full picture.

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

Download Hospitality Marketbeat to get the full picture.

Current Marketbeats

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Office marketbeat

Office Marketbeat is a summary of the Ireland office property sector in key cities, providing comment on recent trends as well as market data and analysis.

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Industrial Marketbeat

Industrial Marketbeat is a summary of the Ireland industrial and logistics property sector in key locations, providing comment on recent trends as well as market data and analysis.

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Retail Marketbeat

Retail Marketbeat is a summary of the Ireland retail property sector providing comment on recent trends as well as market data and analysis.

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Investment MarketBeat

Access the latest quarter commercial real estate results for Ireland's Investment sector. Marketbeat analyzes quarterly market activity including supply, demand and pricing trends.

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Development Land Marketbeat

The Land Development Marketbeat is a summary of the sector in key cities throughout Ireland, providing comment on recent trends as well as market data and analysis.

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St Stephens Green Shopping Centre, Dublin, Ireland
Hospitality Marketbeat

Hospitality Marketbeat is a summary of the Ireland hospitality property sector in key locations, providing comment on recent trends as well as market data and analysis.

Download

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