Industrial
The agreement of a 15% tariff ceiling on EU exports to the US over the course of the summer was a key sector development in Q3 that could be either seen as glass half empty or half full. Overall, although it’s disappointing to see the imposition of any tariffs on transatlantic trade we’re inclined to see it as more glass half full to the extent that it at least removes any further uncertainty for those in the industrial sector.
Office
Dublin office take-up in the first quarter of 2026 came in at approximately 37,200 square metres, a solid performance albeit one slightly below Q1 2025 and the most recent five-year Q1 average. Dublin take-up was again driven by the CBD which accounted for around 70% of the Dublin Q1 total.
Retail
Coming into the second half of the year, the retail sector maintained a strong investment story with just over €94 million transacted across a total of 9 deals, resulting in an average deal size of just over €10.4 million. This was a drop of 41% on last quarter and 65% on last year, two particularly strong quarters.
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.
