Office investments fared much worse, seeing their poorest volumes since the first quarter of 2012. Less than €42 million was invested in three transactions, with a Harcourt Street property accounting for the bulk of that at €34 million.
“It has been a difficult first half of the year, particularly for the office sector. Ireland is by no means unique in that regard, with declining transaction volumes in the sector across the globe,” said John Moran, chief executive and head of capital markets at JLL Ireland. “Encouragingly, PRS [the private rented sector] is remaining resilient albeit for smaller lot sizes, and retail has enjoyed its most buoyant period for a number of years.
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