Property

Value of land deals falls by nearly €240 million in 2023, report shows

Over €751 million of land deals were transacted in 2022 while the figure for 2023 was €515m

Residential lands constituted over half of the property sales volumes in 2023

There was a major drop in the value of land transacted last year, according to a new report from Savills Ireland.

In 2023 €515 million worth of land transacted, of which, 62 per cent was traded in the final quarter of the year, according to the report.

This is down from over €751 million of land deals transacted in 2022.

One of the biggest deals last year involved the disposal of the former Jury’s Hotel in Ballsbridge to the US State Department for €152 million, representing the price paid for a cleared site, Savills said.