Ireland Residential Investment Market Q3 2022

Residential investment volumes accounted for 37% of the overall investment spend in the Irish market, the strongest sector in the quarter. Multifamily continues to be the most dominant sub sector.

Investor sentiment has recently shown considerable interest in the Purpose-Built Student Accommodation (PBSA) sector, which is undersupplied.

The countercyclical nature of sector makes it attractive to investors. In Dublin there are five PBSA developments on site and due for completion between Q4 2022 and Q3 2024, which will add 2,800 bed spaces.

Given current global economic and geopolitical conditions which are impacting investor sentiment and pricing, we expect the remainder of 2022 to be subdued by comparison to investment activity year to date.

These challenging global conditions come at a time when demand continues to significantly outstrip supply across all categories of housing and when employment is set to remain underpinned by growth sectors.

Joan Henry, Chief Economist & Head of Research