Irish Investment Volumes Hit €1.5B In H1 After Strongest Q2 Since 2022
Ireland's commercial property investment market gathered momentum in the second quarter, with more than €1B of assets changing hands and taking total investment to €1.5B for 2026.
The €1B traded in Q2 makes it the strongest second quarter since 2022, CBRE Ireland data showed, more than two and a half times the €381M recorded in the same period last year. Total investment for the first half of 2026 was almost 70% higher than H1 2025.
The headline figure was boosted by the €500M sale of Horizon Logistics Park by GIC and Valor from Henderson Park, one of the largest single property transactions ever completed in Ireland
That deal meant industrial and logistics accounted for around 36% of first-half investment volumes, but activity was broad-based across every major sector, CBRE said.
The office market also showed renewed signs of life after a prolonged slowdown. The €110M sale of One Molesworth Street in Dublin 2 by Henderson Park to MEAG, the investment management arm of Munich Re, marked the largest single Dublin office transaction since the sale of Salesforce Tower in the third quarter of 2022.
Office investment exceeded €180M during the quarter, representing about 18% of total investment activity, and the sector was also boosted by the €27.1M acquisition of One Haddington Buildings in Dublin 4 by Manova Partners, acting on behalf of Spanish insurer Mapfre, from Deutsche Bank.
Residential investment also rebounded strongly, accounting for approximately 23% of Q2 volumes and €233M of transactions. Among the largest deals was the €84M sale of Project Lime, a large social housing portfolio acquired by a domestic investor. Greystar also expanded its Irish student housing portfolio with the €40M acquisition of LIV Dublin in Dublin 7.
CBRE said easier access to financing and improved regulatory clarity have encouraged institutional investors back into the housing market, while continued supply shortages are underpinning occupier demand.
Retail also featured in the recovery, led by the €45M sale of the ILAC Shopping Centre from Irish Life to Hammerson.
Another notable trend during the quarter was the growing influence of European insurance capital, and CBRE said it expects that trend to continue through the second half of the year.
"What is particularly encouraging is the breadth of buyer profiles — European insurance capital, tier one institutional capital, REITs and domestic money all transacting in the same quarter," CBRE Ireland Head of Capital Markets Kyle Rothwell said in a statement.
"The sale of One Molesworth Street demonstrates appetite for prime office in Dublin at the right price, and the residential sector was very active. The market feels meaningfully more liquid than it has over the past couple of years, and the H2 pipeline reflects that confidence," he added.
While the €500M Horizon Logistics Park transaction accounted for roughly half of all Q2 investment, CBRE said underlying activity across offices, residential and retail demonstrates that investor confidence is returning more broadly rather than relying on a single blockbuster deal.
CBRE Ireland Director and Head of Research Colin Richardson said the market's resilience was particularly notable given the wider economic backdrop.
"Despite an increase in interest rates and ongoing geopolitical uncertainty, investors have continued to price and deploy capital, the breadth of activity across office, residential and retail reflects underlying momentum. That investors are willing to transact at scale despite a rise in debt costs is an encouraging signal for the market,” Richardson added.
