“This is particularly apparent in the size of transactions during the period with 58 per cent in the €1 million to €10 million cohort. Only 11 per cent of transactions exceeded €50 million, well below levels seen in recent years. Notably almost all of these took place in quarter one.”
Similar to previous years, Dublin continued to attract the largest share of investment turnover during the first half of the year at 69 per cent. The regional centres of Galway and Cork each accounted for 4 per cent and 3 per cent of total investment turnover respectively. “Given the increase in overall costs of funds, investor’s ability to utilise debt and remain competitive in a bidding process has become more constrained, which will likely result in a higher proportion of transactions completing on an all-equity basis,” said Sherry FitzGerald director of commercial and head of residential investment Ross Harris.
Retail assets are also expected to attract strong investor interest buoyed by the strength of consumer expenditure and the historically high rate of employment.