New research from JLL shows that the year-to-date investment volumes for 2016 totaled €4.5 billion, which is the second highest annual total ever achieved. The top 3 largest deals this year included Blanchardstown Town Centre for €950 million, Liffey Valley for €630 million and One Spencer Dock for €240 million.
Investment volumes were boosted by 5 deals greater than €100 million. These deals accounted for close to 50% of all investment volumes for the year.
According to JLL, interest in the Irish investment market was steady and balanced throughout 2016 between domestic and overseas buyers with a continuing number of new entrants to the market for this cycle including DEKA, Patrizia, Tristan and Meyer Bergman.
Associate Director and Head of Research at JLL, Hannah Dwyer said, "It has been another strong year for the investment market, with total volumes close to €4.5 billion. This is the second highest total ever achieved, following a total of €4.6 billion in 2014."
She added, "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. Looking ahead, we are going to be closely monitoring these economic and political situations as they directly impact the property sector, but hopefully Ireland has positioned itself in a strong enough position economically to respond to any future changes.”