2017 saw a sustained ascent in residential property prices in Ireland. Nationally, second-hand house prices grew by 8.4% during 2017, up from 5.2% in 2016. Price inflation took place at a marginally quicker rate in Dublin compared with the rest of the country, with prices in the capital increasing by 8.8%, in comparison to 7.9% outside of Dublin.
Transaction activity in the Irish hotel market in 2017 returned to more a normalised level. While finishing on a strong note, both transaction volumes and values were down when compared to the bumper levels witnessed in recent years. The market was characterised by smaller, single asset transactions and off-market deals.
Irish commercial property saw another positive year in 2017, with moderate growth in rental levels combined with slight yield compression. Irish commercial property continues to look attractive, with continued robust demand in the office, industrial and retail markets.