Construction BUSINESS

€3.6 Billion of Investment in Irish Property Transacted in 2018

 Breaking News
  • National Construction Summit -Thursday 14th March 2019 – Citywest Exhibition Centre, Dublin The fifth National Construction Summit will be held on Thursday, 14th March 2019 at the Citywest Exhibition Centre in Dublin. Incorporating a number of complementary events and an extensive array of seminars, workshops and exhibition stands, showcasing the latest products, services and technology for the construction, engineering, sustainable building, maintenance and architectural sectors, the 2019 National [...]...
  • Komatsu WA100M Loader Hits Ireland Komatsu’s latest version of the WA100M Dash 8 compact wheel loader has gone on sale in Ireland. Described by distributor McHale Plant Sales director, John O’Brien as “one of the most reliable and versatile machines out there,” the WA100M is being pitched at construction, farm contractors, bulk materials and waste processors. The 94hp EU Stage IV unit [...]...
  • Planning Approval For North South Interconnector EirGrid has welcomed the decision by the Supreme Court to uphold planning approval for the southern section of the North South Interconnector. Planning approval for the project was granted by An Bord Pleanála in December 2016. This was subsequently made the subject of judicial review proceedings in the High Court. The proceedings were dismissed by the High [...]...
  • McAleer & Rushe Commences Construction on London Development Northern Ireland-based developer and contractor McAleer & Rushe has announced that construction is to commence on a new 620 room hotel and hybrid aparthotel development in Paddington, London with a contract value worth c.£82 million. Led by developer Concierge 3, a consortium of BSW Land & Property, Staycity and The Pickstock Group, the scheme is the final stage of the [...]...
  • ESB and Coillte in Discussions to Deliver Renewable Energy Projects ESB is engaged in bilateral discussions with Coillte which, if successful, would lead to the establishment of a new joint venture development company to deliver 1,000 MW of renewable energy by 2030. It is proposed that a new joint venture will build on a successful track record of the two companies working together at Raheenleagh [...]...

€3.6 Billion of Investment in Irish Property Transacted in 2018

€3.6 Billion of Investment in Irish Property Transacted in 2018
January 16
08:54 2019

€3.6 billion of Irish property traded during the year 2018 across nearly 200 deals. This level is significantly higher than 2017, when €2.2 billion traded. This is a 58% increase year-on-year. Total volumes were boosted by a significant increase in larger-sized transactions, with 21 deals greater than €50 million, of which 11 were greater than €100 million. This compares to 6 deals greater than €50 million in 2017.

The largest transaction of the year was the sale of Heuston South Quarter for €175 million. The office development was sold by Northwood and purchased by an overseas investor. The second largest transaction of the year was another office building, Number 2, Dublin Landings, which sold for €164 million and was purchased by Triuva from joint owners Ballymore and Oxley.

In terms of location, the market remained Dublin-centric, accounting for 85% of volumes. Across sectors, offices and residential were the strongest performing sectors, representing 39% and 31% of total year end investment volumes respectively.

Hannah Dwyer, Director of Research at JLL.

, said: “It has been another strong year for investment in Ireland with €3.6 billion trading. Interest in the Irish market has remained high, with greatest demand for prime office and residential opportunities. Investor demand is greatest from overseas buyers at the moment, with continued new entrants to the market. Looking ahead to 2019, we are forecasting continued stability, with volumes likely to achieve similar levels to last year at €3 billion. Supply is expected to come from some loan sale workouts, some recycling of assets, and also investors who are looking to avail of the CGT exemption period. In terms of demand, interest and pricing for PRS is likely to remain strong, and we are also expecting to see continued interest across the offices and logistics sectors, where solid occupier market fundamentals are reinforcing investor appetite.”

Hannah Dwyer added: “A caveat to all of the above is that predictions are based on a stable economic and political backdrop. Any major shocks will undoubtedly have an impact on the Irish property market. Brexit will continue to cast an air of caution on all property sectors, by stalling decision making. Implementation of any new legislative changes will create periods of instability as everyone comes to terms with the reality of what is implemented. Interest rates and global capital markets also need to be factored into decision making. The current benign interest rate favours investors, and any changes will ultimately impact on end-values and pricing.”

About Author



Related Articles

Constrcution Summit

PROMO – Construction Summit 2016 – Sustaining the Momentum

Lean Construction Ireland – Enhancing Ireland’s Competitive Advantage

The Magazine – Construction Business

The Magazine – Construction Summit 2016

The Magazine – Construction Summit

Upcoming Events

  • No upcoming events
AEC v1.0.4

New Subscriber

Subscribe Here