CBRE Ireland has released figures for the volume and value of investment properties traded in the Irish market in the first nine months of 2019, which shows that 109 investment transactions extending to more than €1 million in value traded in the first nine months of the year.
In total, investment spend amounted to €1.235 billion in Q3 2019, bringing total investment spend in the first three quarters of 2019 to almost €3.3 billion. With the Green Reit sale expected to complete in Q4 2019, the Irish market is on target to exceed €5 billion in investment spend for the first time.
Irish Investment Spend 2007 to Q3 2019
Source: CBRE Researh
According to Marie Hunt, Executive Director & Head of Research at CBRE Ireland, recent guidance on interest rate movements bodes well considering the very substantial differential between 10-year bonds and real estate yields, which combined with economic, demographic and occupational factors makes a very compelling investment case for Irish real estate.
On the back of this, there has been an encouraging volume of activity recorded in the Irish investment market over recent months (both on and off market) with strong demand continuing to prevail for prime assets. In keeping with trends noticed earlier in the year, the volume of capital being deployed in the Build-to-Rent sector continues to increase with three of the five largest transactions signed in Q3 comprising residential assets.