Development deals worth €197.7m completed in Q1, with 9% of spend in Cork 

Highest deal worth €90m

Development land deals worth €197.7m were completed in the first quarter of 2026, a 55% increase in volumes compared with the same period a year ago and the best first quarter performance since 2019, according to a market report. Picture: Gareth Fuller/PA Wire

Development land deals worth €197.7m were completed in the first quarter of 2026, a 55% increase in volumes compared with the same period a year ago and the best first quarter performance since 2019, according to a market report.

Some 22 deals made up the €197.7m transactions, according to the latest report from Savills Ireland. In terms of location, Dublin made up 55% of all deals, while activity in the rest of the Greater Dublin Area, encompassing Kildare, Meath and Wicklow, accounted for a further 14% of transactions. Cork and Westmeath each made up a further 9% of deals, with the remaining share taking place across the rest of the country.

The residential sector accounted for half of all transactions, which was below the five-year average of 66%. Savills believes this slowdown likely reflects the lack of available zoned land.

John Swarbrigg, Savills Ireland head of development agency said the strong Q1 pointed to sustained confidence in the land market, "albeit activity was underpinned by a number of large-scale transactions. Underlying supply constraints – particularly around zoned and serviced land – continue to shape both the pace and composition of deals. Geopolitical uncertainty has heightened the likelihood of further cost inflation, meaning certain projects may be reviewed prior to commencement, and therefore this could impact on anticipated completion timelines."

The report noted inflation on ready mixed mortar and concrete has reached 7.7%, while price growth on copper pipes and fittings has hit 7.2%.

Savills said activity was underpinned by the receivership sale of 3.6 acres at Camden Yard in Dublin 8 to Dublin City Council, a deal advised by Savills, which was purchased for €90m. The mixed-use site will comprise 407,300 sq ft of office space, as well as 299 residential units.

In terms of lot size, the highest number of deals took place in the €1m-€5m range at 55%, slightly above the five-year average. The second highest number of deals occurred below €1m at 18%. Transactions in the €5-€10m range accounted for a further 14% of sales, while those in the €20-€50m bracket made up 9%. There was just one deal above €50m and none in the €10 to €20m lot size.