"Investment volumes in Northern Ireland totalled £118.0 million in 2024, representing the weakest performance since 2012 and well below the 10-year average of £271.0 million. This low level of activity was underpinned by the high interest rate environment, with the bank rate standing at 5.25% for much of the year. Activity was also constrained by a lack of available stock, but it is believed the market has now reached its trough. Retail was the strongest investment sector of the year, accounting for 55% of total volumes, followed by offices at 19%. The largest transaction of the year took place in Q1 with the sale of Bloomfield Shopping Centre & Retail Park to Mussenden Properties for £22.7 million. Elsewhere, lettings activity in the Belfast office market rose by 33% last year, reaching 348,000 sq ft and marking the strongest performance since 2019."

"Development land deals totalled €749m in 2024 across 84 deals, resulting in an average deal size of €9m and marking the best annual performance in five years. This represented an increase of 45% on 2023 and was 15% higher than the five-year average of €654m. Dublin accounted for 79% of transaction volumes, which was in line with the five-year average. The Greater Dublin Area, which includes Kildare, Meath and Wicklow, took that share to 88%, highlighting the sustaineded attraction of the capital to both residential and commercial developers. Notably, Louth experienced its strongest year in the series with over €25m in transactions. Other counties featuring throughout the year were Cork, Galway, Laois, Monaghan, Offaly and Westmeath. Planning permission continues to demand a premium in the market; the average price for a site with planning was €11m, compared to just €7m for sites without."

"Full-year take-up in 2024 amounted to 2.1 million sq ft across 172 deals, with the average deal size increasing by 57% y/y to 12,000 sq ft – indicating a gradual return to larger requirements among occupiers; a trend we expect to continue. The largest transaction was the HSE’s acquisition of 183,000 sq ft at the Seamark Building, Dublin 4, followed by the assignment of 156,000 sq ft at One Wilton Park, Dublin 2, to the Irish-American fintech firm, Stripe. "

"2024 saw yield benchmarks stabilise, with limited outward adjustments made following the steep declines in values witnessed between the second half of 2022 and the end of 2023. €1.2 billion worth of investments transacted in Q4 2024, accounting for nearly 50% of the full-year volumes of €2.5 billion."

"There was 1.3 million sq ft taken across the Dublin industrial and logistics market in 2024. This represented a 58% decline compared to 2023 and less than half the five-year average of 2.7 million sq ft."

"Prime country home sales reached €275 million across 168 deals last year, according to Savills analysis of the Property Price Register. Total sales were worth almost twice the 10-year average of €139 million, with the average deal size standing at €1.6 million. "