Investment activity in Irish property market hits new low

Higher interest rates by the European Central Bank have dampened transaction activity over the last few years

Just €1.6bn being spent on investment properties in the year to the end of March, compared to the €4.5bn spent in the prior 12 month period.

Investment activity in the Irish property market reached a new low of €163m during the first three months of the year as the office market continues to see high vacancy rates, a new report from property group Sherry Fitzgerald has found.

The report said that between January and March, the investment market remained “very subdued” with only 20 investment sales closing during that time representing a decrease of 35% compared to the same period in 2023.