Irish commercial real estate investment grows to 2.4bn [Video]

Total investment in commercial real estate in Ireland reached €2.4bn in 2024, representing annual growth of 30% while remaining 42.7% below the 10-year annual average, according to research from real estate professional services firm JLL Ireland.

The retail sector emerged as the year’s stand-out performer, making up almost half the market (43.5%) in volume terms amid continued challenges for offices and the private rental sector.

Retail accounted for activity worth €1.05bn across 31 deals in 2023, up 142% from 2023 and 42.9% above the 10-year annual average, while office sector investments totalled €508m across 37 deals, 62.7% below the ten-year annual average, reflecting the challenges the post-pandemic environment has created.

Investment in the private rental sector slowed to €461m, up 6.1% year-on-year, but 55.3% below the 10-year annual average, and the industrial sector recorded investment of €267m across 19 deals, a decline of 48.4% year-on-year.

Overall, there were 108 deals completed in 2024 compared to …