Close to €800m was invested in the Irish property market in the third quarter of this year, representing a 25% jump in a typical third quarter, according to the latest data from property advisor, Savills.
Year-to-date investment volumes in Irish real estate now stands at €3.5 billion, standing as the highest volumes for the period on record and double the volumes seen in the first three quarters of 2020.
Brendan Delaney, Divisional Director of Investments at Savills, said, "We are now seeing a resumption of the strong levels of activity present before the pandemic with several large deals that are close to signing set to drive a strong fourth quarter.
"Based on our analysis we expect to see year-end totals of between €4.75 billion and €5.25 billion in 2021, the second strongest year this cycle," said Mr Delaney.
He said investor appetite was strong across the board, but the multi-family sector (housing estates and apartments) continues to out-perform the rest of the market with €414m worth of multi-family assets trading which accounted for 52% of investment volumes in the quarter
"In total, multi-family assets with a value of €1.9 billion have traded this year giving the sector a 54% market share," Mr Delaney said.
The analysis shows that the sector has accounted for a growing share of the investment market in recent years driven by strong growth in the Private Rented Sector market.
A Longford county councillor told a meeting last week how he has been left frustrated at the increasing absence of road traffic signs in the county town as he prepares to take his driving test.
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