Almost €6Billion of Land Sales Recorded in Irish Market Over Decade - Construction Network Ireland - Construction Network Ireland

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Published in Reports on 18/12/2019

Almost €6Billion of Land Sales Recorded in Irish Market Over Decade

CNI Editor reports

Property consultants CBRE Ireland have today released figures for the volume and value of development land traded (both on and off-market) in the Irish market during 2019, which shows that 73 land sales were completed in Ireland during 2019, totalling more than €1.2 billion between them.  While down on last year’s record result (almost €1.5 billion in 125 transactions), this nevertheless represents a strong result, particularly considering the fact that land prices have stabilised during the last 12-month period. In total, according to CBRE’s research, almost €6 billion of land sales have been completed in the Irish market in the last decade of which 45% occurred in the last two-year period alone.

Irish Development Land Sales 2009 – 2019

 

Source: CBRE Research

Peter Garrigan, Director in the Development Land team at CBRE said, Activity in the Irish development land market during 2019 has been steady with a number of large sales having completed in the last quarter bringing total spend during the year to more than €1.2 billion. In addition, a number of land sales will now not complete until the New Year, meaning there will be a carryover into 2020. We continue to witness strong demand for well-located sites although there have been clear signs of stabilisation emerging in terms of land prices during the last year”.