This report provides an overview of the key developments in the Irish development land market during 2023, with an outlook for 2024.
Elevated building and construction cost inflation, rising borrowing costs and continued planning delays all culminated in below average transaction activity in the Irish development land market throughout 2023. That said, there was a notable uplift in the value of land transacted during the final three months of the year to reach €126 million for the quarter. For the year as a whole, the total value of development land turnover for the Greater Dublin Area (GDA including Dublin, Kildare, Meath and Wicklow), and the regional centres of Cork, Galway and Limerick stood at €372 million, the lowest level seen since records began in 2015.
