Land sales across Ireland reached €121 million between January and March this year, the strongest three month period since 2019.
The data from property advisor Savills Ireland shows there were 15 transactions during the quarter, putting the average deal size at €8.1 million.
This was slightly above the five-year average of €7.2 million.
The top five deals accounted for around €100 million, with residential transactions making up three of these.
In total, the residential sector accounted for 64% of the deals.
The majority of transactions took place in Dublin, with one notable residential land sale in each of Kildare, Meath, Louth and Galway.
Some of the more significant land sales in the quarter included 90.3 acres at Balseskin in Finglas, of which 29.5 acres was sold to the Central Bank for €14 million for the development of a new cash centre, and the sale of a development site at Baldoyle in North Dublin, which was sold to the LDA.
“The development land market has begun 2025 on a strong footing, marking the best first-quarter performance in six years,” said Ebba Mowat, Director of Development Agency & Consultancy at Savills Ireland.
“That being said, we are still witnessing an acute shortage of land, both with and without planning, meaning sites suitable for development will continue to demand a strong premium.
“Government policy will be an important tool for ensuring more land is opened up for development in the short-term, but also key to attracting institutional investors back into the market and strengthening housing delivery in the years ahead,” he added.
