Commercial Property

Institutional investors adopt cautious approach to buying Irish property

Continuing uncertainty due to interest rate rises means investors are reviewing their business plans, but some agents expect transactions to pick up

In February this year, M&G’s European Living Fund purchased Eglinton Place, Donnybrook, Dublin 4, for €99.5 million

While a number of new apartment developments are expected to be completed in the next 18 months, agents expect a slowdown in purchases by international institutional investors.

Joan Henry of agents Knight Frank attributes this to ongoing uncertainty as a result of interest rate increases.

She estimated that €1.85 billion was spent on residential investment in Ireland in 2022 and that it was the second most sought-after asset class after offices. In the fourth quarter ...