This report provides an overview of the key developments in the Irish development land market during 2024, with an outlook for 2025.
Turnover in the development land market, encompassing the Greater Dublin Area and the three regional centres of Cork, Galway and Limerick, surged during 2024 to reach €762 million. This is almost double the level seen in 2023 and falls just below the long-term average of €774 million. The volume of activity remained relatively stable with 88 transactions recorded during the year. Looking to the year ahead, the development land market will benefit from further cuts in interest rates coupled with a renewed focus from the new Government to urgently address the key issues impacting the supply of new homes.
