The Irish development land market witnessed a sharp slowdown in activity in 2020 due to COVID-19 related market disruption. During the height of market uncertainty, quarter two recorded just €44m worth of development land sites sold. The lowest level of quarterly turnover recorded since Cushman & Wakefield’s detailed series began in 2015.
The fourth quarter recorded a marginal uptick in quarterly activity, generating turnover of approximately €109m across 30 development sites. This concludes total transaction activity in 2020 to approximately €345m across the GDA, Cork, Limerick and Galway. Representing a sizable reduction from the €1.18bn recorded in 2019.