Despite COVID-19 challenges and travel restrictions, total capital inflow reached approximately €1.45bn across 43 deals in the second quarter of 2021, of which €641.5m were income generating at the point of sale and €805m were forward commit style arrangements. The majority of these forward transactions were PRS assets, with one hotel forward fund and of significance an industrial forward fund.
This brings total capital spend in the Irish commercial property market to just shy of €2.3bn across 79 deals in the first half of 2021. This represents a sizable increase from the €981.7m recorded in H1 2020 across 55 deals. The outturn of January to June end has already surpassed the long run average of €1.9bn for the eighth consecutive year since 2014.