More than €1.2 billion ($1.4 billion) of commercial property transactions with a value of more than €1 million ($1.2 million) traded in Ireland in first quarter 2021 in 32 individual transactions, according to CBRE Ireland. This volume of investment activity in the quarter is higher than the entire years of 2009, 2010, 2011 and 2012 combined.
According to CBRE, this is a very strong result considering the fact the market has been in full lockdown for the entire quarter and much of 2020. The result is considerably higher than the long-term average investment during the first quarter of approximately €800 million ($940 million) and on par with the volume of trades in what was a bumper quarter in first quarter 2020. The largest transactions to sign in the quarter were a large residential forward fund transaction that extended to more than €450 million ($529 million) and the Project Tolka office investment sale for approximately €290 million ($341 million).
The
