New figures published by Jones Lang LaSalle (JLL) report that a total of €1.55bn was invested in Irish real estate in the fourth quarter of 2014 - making it the busiest period on record.
The total year-end volumes were €4.54bn - which is a 25 percent increase on the previous peak in 2006.
There were 15 transactions that were greater than €100m last year - this is compared to three in 213. Seven of these deals closed during the final quarter.
It reports that Dublin dominated the market, with 72 percent of the activity happening in the capital.
The largest transaction was the sale of Project Sapphire, it comprised of two office blocks, George’s Quay and George’s Court - and the Westend Retail Park. Cosgraves sold the portfolio to Green REIT for €375m.
JLL predicts that this will be another busy year in the Irish property market but that sales will not reach the record levels that were seen in 2014. It says that volumes are likely to reach €3bn, which is significantly above the 10-year average of €1.4bn - with retail being the strongest performing asset class.
