Why Q3’s Commercial Property Surge Could Be the Game-Changer Savvy Investors Can’t Afford to Ignore
You ever notice how Ireland’s commercial property market can be a bit like a rollercoaster that’s just climbed out of the dark tunnel? Well, Q3 of 2025 brought a fresh burst of energy, with transactions hitting €693.6m — that’s a neat 16% jump from last year and even surpassing 2023’s tally. Pretty impressive, right? But here’s the kicker: despite this upswing, deal activity still trails 21% behind the five-year Q3 average. So, while we’re seeing solid growth, the market hasn’t quite bounced back to the dizzying heights of 2021 and 2022. Year-to-date volumes are already at €1.6bn, racing ahead of 2024’s pace, and with a promising pipeline in sight, it looks like 2025 might just outpace last year’s €2.5bn benchmark. What’s really catching my eye is residential snapping up 37% of the market, especially the private rented sector driving the two biggest deals — a clear nod to renewed investor faith in multi-family homes. Curious to see where this momentum takes us as the year wraps up? LEARN MORE
Ireland’s commercial property investment market showed stronger momentum in the third quarter of 2025, with total transactions reaching €693.6m.
This marks a 16% increase on the same period last year and a performance that also outpaced 2023.
Despite this improvement, deal activity remains 21% below the five-year Q3 average, highlighting that the market has not yet returned to the exceptional highs recorded in 2021 and 2022.
Year-to-date investment volumes now total €1.6bn, running 21% ahead of the same stage in 2024. With a solid pipeline of transactions expected before year-end, the outlook suggests the market is on track to exceed the €2.5bn transacted last year.
Residential assets returned to prominence in the quarter, securing a 37% market share across three deals.
The two largest transactions in Q3 were both in the private rented sector, underlining renewed investor confidence in multi-family housing.
Kevin McMahon, Director of Investments at Savills Ireland, said: “The increase in investment volumes in Q3 signals an improvement in Ireland’s commercial property market.
“We anticipate this positive sentiment to be sustained into Q4, with the remainder of the year set to be strong.
“Overall, 2025 is likely to outperform 2024 in terms of deal volumes, which will mark a second year of improving transactional activity.”
By sector, residential led the market with its 37% share, while offices followed closely at 35%, spread across twelve deals.
Industrial assets accounted for 13% of activity, while retail – which had played a significant role in earlier quarters – fell to just 10%.
On a year-to-date basis, retail and office remain tied for the largest market share at 31% each. Should retail volumes continue to decline, offices could emerge as the dominant asset class in 2025.
At the same time, the industrial sector could yet strengthen, with three substantial logistics portfolios currently being marketed.

Institutional and REIT buyers were the most active in Q3, representing 67% of acquisitions.
Irish investors accounted for 47% of total volumes, with European buyers close behind on 35%.
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