- A significant increase in activity was recorded in H1 2024 with €238m worth of development land transacting, more than double the €117m that was sold during the same period last year.
- Larger transactions (€20m-€50m and >€50m) returned to the market in H1 accounting for 41% of activity. There was a broader profile of buyers active in H1, including the large housebuilders and the State, which contrasts sharply with the same period last year when cash buyers dominated.
- Demand remained robust for residential development land which accounted for 70% of activity in H1 with sites capable of supporting schemes for first time buyers, social housing and student accommodation being particularly sought-after.
- Commercial development land accounted for 24% of activity in H1. Sites capable of delivering logistics schemes were particularly sought-after as were opportunities to repurpose older offices. Mixed-use development land comprised the remaining 6% of activity.
- There is a strong pipeline of deals which are in the process of closing and which will contribute significantly to activity in H2. Knight Frank anticipates that volumes in 2024 will comfortably exceed the €500 million that transacted in 2023.
Robert O’Connor, Associate Director, Research,
Knight Frank Ireland
