There were 15 transactions during the quarter, putting the average deal size at €8.1 million, which was slightly above the five-year average of €7.2 million. The top five deals accounted for approx. €100 million, with residential transactions making up three of these. In all, the residential sector accounted for 64% of total volumes traded. The majority of deals took place in Dublin, with one notable residential land sale in each of Kildare, Meath, Louth and Galway.

Two of the more significant assets to transact in this quarter were approx. 90.3 acres at Balseskin in Finglas, of which 29.5 acres was sold to the Central Bank for €14 million for the development of a new cash centre, and the sale of a significant development site at Baldoyle in North Dublin, which was sold to LDA. This site has an existing grant of planning permission for over 1,900 homes. Both of these sales were handled by Savills.

Ebba Mowat, Director of Development Agency & Consultancy, said:

“The development land market has begun 2025 on a strong footing, marking the best first-quarter performance in six years. That being said, we are still witnessing an acute shortage of land, both with and without planning, meaning sites suitable for development will continue to demand a strong premium. Government policy will be an important tool for ensuring more land is opened up for development in the short-term, but also key to attracting institutional investors back into the market and strengthening housing delivery in the years ahead.”