This report provides an overview of the key developments in the development land market in the Greater Dublin Area and the regional centres of Cork, Galway and Limerick during the first half of 2023.
The first half of 2023 saw a marked decline in transaction activity in the development land market with the total value of land sold for development purposes falling to a record H1 low of €134 million. The volume of transactions was equally low highlighting the impact of higher borrowing costs and the strength of construction cost inflation over the period, which are further exacerbated by ongoing delays in the planning system.
