Investment volumes in Ireland for 2016 reached €4.5 bn, the second highest annual total ever achieved, according to new data from JLL.
Top transactions included the sale of Blanchardstown Town Centre for €950 mln, Liffey Valley for €630 mln, and One Spencer Dock for €240 mln. investment volumes benefitted from five deals exceeding €100 mln apiece, which together amounted for 50% of total deal flow.
'It is positive to see that the investment market showed some resilience, despite the political and economic disruptions we saw in the last 12 months,' commented Hannah Dwyer, associate director and head of research at JLL. 'To date there has been no direct impact on the investment market as a result of Brexit or the election of Trump, although the change in tax legislation for previously tax exempt investment funds has already had some negative impact on demand from overseas investors.'
Interest in the Irish investment market was steady, and balanced throughout 2016 between domestic and overseas buyers. New entrants to the market included DEKA, Patrizia, Tristan and Meyer Bergman.
'Looking ahead, we are going to be closely monitoring these economic and political situations as they directly impact the property sector,' added Dwyer. 'Hopefully Ireland has positioned itself in a strong enough position economically to respond to any future changes.'
