Industrial
Supply demand balance should help cushion against a more volatile trade environment. The US government’s announcement of reciprocal tariffs against countries in early April was a key development for the industrial sector in Q2. In recent weeks risks have risen that EU countries will face a tariff rate of around 30% although we are conscious that the background to negotiations is an extremely fluid one.
Office
The Dublin office market saw a robust start to 2025, with take-up of 42,800 sq m across 48 deals. Demand was well-distributed across sectors, led by technology (26%), financial services, professional services, and medical/health services. Major transactions included EY (5,100 sq m at Wilton Plaza), Apple (3,500 sq m at 4/5 Park Place), and Blackrock (2,000 sq m at Glencar House). 75% of activity was concentrated in the CBD.
Retail
The second quarter saw the retail sector outperform all others with a total of €159 million invested across a total of 8 deals, representing 42% of the total invested in Q2, an increase of 11% on last year’s figures, with a continued focus on both high street and retail park assets.
Development Land
The first half of 2025 saw a total of 52 deals completed nationwide for a grand total of €304 million. This equated to an average deal size of €5.8 million, with 24 deals completed in Q1 and a further 28 in Q2, reflecting an evenly-paced six months. H1 2025 is down 28% year on year compared to H1 2024 although the number of deals were roughly in line with the same period last year.
Hospitality
The Irish hotel investment market remained strong in the first half of 2025, with transactions totaling around €375 million. Major Dublin deals dominated activity including the €86 million sale of the Ruby Molly hotel by ESR Group to German investor Deka Immobilien. Leased to Ruby Hotels Group.
