€25.5bn flowed into property market in 2023

Cork and Galway both witnessed an influx of capital into commercial property during the year. Picture: Tom Coakley

Financial capital worth €25.5bn flowed into the Irish residential property market last year, according to estate agents Sherry FitzGerald.

The figure was 6% below the €27.2bn recorded in 2022. The drop came despite the significant rise in borrowing costs throughout much of the year. SherryFitz said its reflects the resilience of demand in the residential market.