- €702m worth of development land traded in H2 2024, nearly double the €386m that transacted in H2 2023.
- This brought the total spend for 2024 to €939m, up from €503m in 2023. The spend for 2024 was almost in line with the market’s 10-year average.
- Much of the uplift can be attributed to an increase in the trading of larger lot sizes in the €20m-€50m and €50m+ segments. In H2 2024, these segments comprised 70% of spend, up from 56% in H2 2023.
- Knight Frank advised TPG Real Estate in their acquisition of Quintain’s lands at Adamstown, Clonburris and Portmarnock, which are capable of delivering 7,700 units, for in excess of €200m in what was the largest transaction of 2024.
- Glenveagh’s purchase of the Gannon Homes portfolio was the second largest transaction in 2024*. The portfolio consisted of lands in Dublin and Wicklow, capable of delivering 5,000 units.
- Falling interest rates, stabilising build costs and continued strong end-user demand will underpin developer sentiment this year for sites of scale. However, the supply of opportunities will pose a significant challenge for the market. We are likely to see a growing cohort of buyers target longer-term lands.
- Knight Frank outline ten recommendations that would help unlock development activity and assist the current housing crisis.
*Knight Frank were involved in this transaction.
Joan Henry, Chief Economist & Director of Research, Knight Frank Ireland
