This is the largest first half total on record, 17% higher than 2021 and 11% higher than the previous record in the first half of 2016.
According to Savills Ireland, transactions are increasingly becoming harder to underwrite, with volatility in the debt markets particularly elevated at the end of the first half which has led to increased borrowing costs. The quarter’s largest transaction was the sale of Hibernia REIT to one of the world’s largest alternative investors, Brookfield Asset Management.Rounding off the top five largest transactions in the quarter were three PRS transactions and one CBD office deal.
"Investor sentiment has been impacted by the volatility and uncertainty of the global macroeconomic environment," said Brendan Delaney, Divisional Director, Investments at Savills Ireland.