Property

Investment property market sank almost 70% in ‘dismal’ 2023

Trading in the fourth quarter of 2023 was down 59 per cent compared to 2022

John McCartney, director and head of research at BNP Paribas Real Estate Ireland. He said last year ‘faded-out meekly’ as only €434.6 million of assets were traded. Picture: Fergal Phillips

Ireland’s property investment market recorded its slowest fourth quarter in more than a decade at the end of last year, a new report by BNP Paribas has said.

The agency’s latest investment market report has shown that trading in the fourth quarter of 2023 was down 59 per cent year on year.

During a typical year, the final three months would often account for about 37 per cent of investment property spending due to an ...