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.
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.
Investment
Irish investment spending reached a total of approximately €699 million, up compared to Q2 and 18% stronger than the total twelve months previously. In fact, the third quarter total by value was the best Q3 performance since 2022.
