Land sales across Ireland topped €900m last year
Land sales worth just over €900m were completed across the country last year, new figures show.
This is nearly three times the total spend recorded in 2023, but still slightly below the ten-year annual average.
The figures from CBRE Ireland show that over €415 million of transactions were recorded between October and December 2024.
This was in stark contrast to the first quarter of the year when just €50 million of land sales were completed.
CBRE Ireland said the impact of higher interest rates, rising build costs and uncertainty in valuations came through in the first quarter market performance.
The top five land sales of 2024 accounted for 50% of the total spend in the year.
The sale of the former Jury’s Inn site to the US Embassy and the sale of 103 acres of residential zoned land with planning permission for 1,020 units in Donabate, Co. Dublin to Cairn Homes were two of the largest transactions of the year.
According to CBRE, ongoing conversations with developers indicate that there is a strong level of demand for sites, particularly for those with residential planning permission in place.
However, it said there’s a clear lack of zoned and serviced land coming to market for sale in Ireland, particular in the Eastern and Midlands Region.
Darragh Deasy, Director on the Development Land team at CBRE Ireland said there are a number of catalysts that should support the continued improvement of land sales this year.
“The introduction of the Planning and Development Act 2024 and the ambitious targets set by the draft National Development Plan should streamline the planning process and support housing and infrastructure development whilst potentially addressing the current issues of land availability,” he said.
“All factors that could stimulate an increase in intent from both sellers and buyers this year,” he added.
Article Source – Land sales across Ireland topped €900m last year – RTE
