Strong performance in the industrial & logistics sector continued in Q2 with low availability driving further rental growth.

Dublin’s office market continued its recovery in Q2 with take-up reaching 501,397 sq. ft. across 59 transactions.

Total investment turnover reached over €1.2 billion in Q2 2022, bringing turnover for the first six months of the year to €2 billion. In addition to this, the €1.1 billion sale of Hibernia REIT to Brookfield Asset Management closed in Q2. Like the sale of Yew Grove REIT in Q1, this transaction was completed by way of share purchase so is not considered an investment asset sale as such. Nevertheless, between standard transactions and REIT sales, the total spend on commercial property-related deals was over €3.2 billion in H1 2022, exceeding the €2.7 billion invested during the same period in 2021.

2020 was forecast to be another year of steady growth for Irish tourism, the country’s largest indigenous industry and biggest regional employer. In 2019, a record 10.8 million overseas or out-of-state visitors came to Ireland, while domestic trips surpassed 11.6 million, with combined revenues from both foreign and domestic tourists reaching more than €9.5 billion according to Fáilte Ireland figures.