26 Land Sales Completed In Ireland In Q1 2017
Dublin, 4th April 2017 – Commercial property consultants CBRE Ireland today released statistics on the volume and value of development land sales completed in the Irish market in the first three months of 2017, showing that a total of 26 development land sales, totalling almost €92 million between them sold in Ireland during Q1 2017.
Demand continues to outstrip supply in the development land sector. Although several infill sites continue to sell (some of which are trading off-market), there are very few sizable land parcels being formally marketed. This is at a time when there are severe supply shortages in many sectors of the market, most notably in the residential sector. Where land is coming available, there is strong demand, particularly for well-located sites that have viable planning permissions. We are seeing particularly strong demand for residential sites in Dublin’s commuter belt, with developers encouraged by an increase in mortgage applications and the volume of sales being recorded at various new home scheme launches over recent months. Specialist operators in the PRS and student accommodation sectors are particularly active at present. We are also seeing good demand for well-located industrial land along major road networks.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
In Ireland, with offices in Dublin and Belfast, CBRE is the country’s largest commercial real estate services company, now employing over 165 employees and offering a full range of property services including property sales and acquisitions, leasing and management, investment, corporate services, debt advisory, project management, consultancy, business rates and compulsory purchase, valuations and research. Please visit our website at www.cbre.ie or www.cbre.ie/ni.