Average price paid for Irish development land rises by 29% despite viability concerns

Savills said investors may be moving away from building large apartment schemes

The report indicated that companies may be worried about the cost of building housing. Picture: Getty

There was an 11 per cent rise in the value of Irish land sales last year, a new study has found.

There were €751 million worth of land deals in 2022, up from the previous year’s total of €677 million, according to a new report from Savills Ireland.

This is despite the company saying that viability is the main concern for investors, with many builders saying projects have become unviable due to rising costs.

Although ...