Property & Planning
Week of 2026-W01
Irish Property Market Intelligence
Monthly Report: Transactions, Planning & Market Trends — January 2026
Source: PROPERTY | Period: 2026-01-01 to 2026-01-07
407 Transactions, a Brownfield Gamble in Portlaoise, and the Institutional Landlord Still Building: Ireland's Property Market Opens 2026
The first seven days of 2026 registered 3 property transactions on the Property Price Register — a 19-fold surge on the 22 recorded in the final week of December 2025, as the post-Christmas backlog cleared. The median price of €142,167 is deceptively modest: strip out the 43% of transactions priced below €50,000 (largely commercial lots and part-interests) and the residential market is running at a median of €343,250 — a figure that tells a very different story about affordability. Meanwhile, the planning pipeline opened with its most significant brownfield application in years: 217 homes on the former Centrepoint Shopping Centre site in Portlaoise, and Ireland's largest residential REIT quietly filed for 38 more apartments in Tallaght.
By the Numbers
| Metric | Value | Signal |
|---|---|---|
| Total transactions registered | 3 | Up 19x on prior week |
| National average price | €208,504 | Skewed by commercial lots |
| National median price | €142,167 | Residential median: €343,250 |
| Highest transaction (commercial) | €1,626,150 | Cumberland Place, D2 |
| Highest residential transaction | €1,285,000 | Clonskeagh, Dublin 14 |
| Dublin median price | €378,854 | 73 transactions |
| Wicklow average price | €502,720 | Exceeds Dublin average |
| Planning applications received | 0 | 119 residential units |
The Investigation: Where the Market Is Moving
Over the period 1–7 January 2026, the Property Price Register recorded 3 transactions across 26 counties. Dublin dominated by volume with 73 transactions, but the most striking data point was Wicklow: with an average price of €502,720, the county outpaced Dublin (€370,515) by 36% — a premium driven by a small number of high-value coastal and rural transactions in the A63 and A98 eircode areas. Waterford, at an average of €97,770, sat at the other end of the spectrum, reflecting a market where affordability remains structurally different from the east coast.
County Price Tracker: Current vs Previous Period
The previous period (25–31 December 2025) recorded just 22 transactions nationally at an average of €265,160 — a holiday-period trough that makes direct county comparison unreliable. The January surge is seasonal, not structural. The table below shows the current period county breakdown ranked by transaction volume.
| County | Avg Price (Jan 1–7) | Transactions | Signal |
|---|---|---|---|
| Dublin | €370,515 | 73 | Median €378,854 |
| Cork | €163,731 | 56 | 2nd busiest county |
| Galway | €197,832 | 30 | Steady |
| Meath | €139,750 | 24 | Commuter belt |
| Kildare | €262,455 | 19 | Above national avg |
| Limerick | €159,420 | 16 | Affordable |
| Wicklow | €502,720 | 14 | Exceeds Dublin avg |
| Kilkenny | €234,904 | 13 | Steady |
| Waterford | €97,770 | 10 | Lowest avg in period |
Notable Transactions: Top 10 by Value
The highest-value transactions registered over the period span both commercial and residential markets. The commercial leader — office floors at 1 Cumberland Place, Fenian Street, Dublin 2 at €1,626,150 — is notable because FNZ Global Management Limited, a fintech firm registered at the same address on 7 January 2026, appears in CRO records at the identical eircode D02 FF20. Whether the transaction and the registration are connected is unconfirmed, but the timing is striking.
| Address | County | Price | Type |
|---|---|---|---|
| 1 Cumberland Place, Fenian St, D2 | Dublin | €1,626,150 | Commercial |
| 33 Whitebeam Ave, Clonskeagh, D14 | Dublin | €1,285,000 | Residential |
| 14 Thorndale, Delgany, Wicklow | Wicklow | €785,000 | Residential |
| 89 Shrewsbury, Ballsbridge, D4 | Dublin | €775,000 | Residential |
| 9 Yachtmans Point, Wicklow Town | Wicklow | €707,500 | Residential |
| 7 Auburn Dr, Castleknock, D15 | Dublin | €690,000 | Residential |
| 74 Mount Drummond Sq, Harold's Cross, D6 | Dublin | €680,000 | Residential |
| 53 Pinewood Crescent, Glasnevin, D11 | Dublin | €580,000 | Residential |
| 42 Grafton Street, Dublin 2 | Dublin | €540,000 | Commercial |
| 114 Ardlea Road, Artane, D5 | Dublin | €515,000 | Residential |
Planning Pipeline: Applications Received 1–7 January 2026
The planning pipeline opened the year with 0 applications across 11 local authorities, representing 119 residential units in total. Kildare County Council led by volume with 8 applications, followed by Tipperary (6) and Dun Laoghaire-Rathdown (5). The two standout applications by scale were both filed on 7 January: a 217-unit brownfield development in Portlaoise and a 38-apartment scheme in Tallaght by Irish Residential Properties REIT PLC.
| Application | Authority | Units | Type |
|---|---|---|---|
| Former Centrepoint Shopping Centre, Portlaoise (Ref: 2660008) | Laois CC | 217 | Brownfield residential + commercial |
| Bruce House, Main Road, Tallaght, D24 (Ref: SD25A/0053W) | South Dublin CC | 38 | Institutional residential |
| 35 Muckross Green, Perrystown, D12 (Ref: SD25A/0164) | South Dublin CC | 2 | Infill residential |
| Balleighan, Manorcunningham, Donegal (Ref: 2660010) | Donegal CC | 1 | Mica replacement |
| 24 Solomon's Hill, Letterkenny (Ref: 2660001) | Donegal CC | 1 | Mica replacement |
The Connections: What the Transactions Alone Don't Tell You
Transaction data and planning applications are the skeleton of the property market. The flesh comes from cross-referencing: who is buying, who is building, and what the courts and company registers reveal about the actors behind the addresses. Over the period 1–7 January 2026, three cross-domain connections stand out — each adding a dimension that the Price Register alone cannot provide.
The Radar: Three Signals Worth Watching
The Deep Dive: One Company, One Site, and the People Behind the Numbers
A deeper look at the period reveals one company that stands out above all others for the richness of its cross-domain profile: Irish Residential Properties REIT PLC, Ireland's largest residential landlord, which opened 2026 by filing for 38 more apartments in Tallaght. Its CRO record tells a story of transformation from a Canadian-backed vehicle into a publicly listed Irish institution — and its planning activity signals continued confidence in the Dublin rental market despite a challenging interest rate environment.
Irish Residential Properties REIT PLC — The Institutional Landlord That Keeps Building
Irish Residential Properties REIT PLC (CRO: 529737) is registered at South Dock House, Hanover Quay, Dublin 2 (D02XW94). It was incorporated on 2 July 2013 as Shoreglade Limited — a vehicle for Canadian Apartment Properties Real Estate Investment Trust (CAPREIT), one of Canada's largest apartment REITs. It was renamed CAPREIT Ireland Limited, then Irish Residential Apartments REIT Limited, then Irish Residential Properties REIT Limited, before converting to a PLC in March 2014 and listing on Euronext Dublin. Its principal object is real estate activities.
| Metric | Detail |
|---|---|
| Company Number | 529737 |
| Company Type | PLC (Public Limited Company) |
| Registered | 2 July 2013 |
| Authorised Capital | €100,000,000 |
| Issued Capital | €52,300,221 |
| Last Accounts Date | 31 December 2024 |
| Registered Address | South Dock House, Hanover Quay, Dublin 2, D02XW94 |
| Planning Activity (Jan 2026) | SD25A/0053W — 38 apartments, Bruce House, Tallaght, D24 |
The question for Q1 2026: will Laois County Council grant permission for the 217-unit Portlaoise brownfield development by the 3 March 2026 decision date, and will IRES REIT's Tallaght application clear South Dublin CC's planning process before the February 2026 deadline?
Key People This Period
| Name | Role | Notable Activity | Connections |
|---|---|---|---|
| Tom Kavanagh | Director, IRES REIT PLC | Active director since June 2018; REIT filed 38-unit planning application in Tallaght Jan 2026 | IRES REIT PLC |
| Joan Garahy | Director, IRES REIT PLC | Long-serving director since April 2017; Castleconnell, Co Limerick | IRES REIT PLC |
| Stefanie Frensch | Director, IRES REIT PLC | Berlin-based director since July 2021; international governance dimension | IRES REIT PLC |
| Denise Turner | Director, IRES REIT PLC | Appointed May 2023; Castleknock, Dublin | IRES REIT PLC |
| Eddie Byrne | Director, IRES REIT PLC | Appointed May 2024; Rathmichael, Dublin | IRES REIT PLC |
| Amy Freedman | Director, IRES REIT PLC | Toronto-based director since May 2024; Canadian institutional investor perspective | IRES REIT PLC |
One to Watch: USAA EU Designated Activity Company
USAA EU Designated Activity Company
| Metric | Detail |
|---|---|
| Company Type | DAC (Designated Activity Company) |
| Authorised Capital | €200,000,000 |
| Issued Capital | €80,030,000 |
| NACE Code | Non-life insurance |
| Address | 35 Shelbourne Road, Ballsbridge, Dublin 4 |
USAA EU DAC is the European Union subsidiary of USAA (United Services Automobile Association), the US-based financial services group that primarily serves military personnel and their families. The company was registered on 1 January 2026 — the first day of the year — with €200 million in authorised capital and €80 million issued. It is registered at 35 Shelbourne Road, Ballsbridge, Dublin 4 — a prime D4 address that signals a substantial, long-term Irish presence.
Why it matters: USAA is one of the largest financial services companies in the United States, with over 13 million members and $200 billion in assets. Its establishment of an EU DAC in Ireland on 1 January 2026 — with €80 million in paid-up capital — is a significant vote of confidence in Ireland as a post-Brexit EU financial services hub. The non-life insurance NACE code suggests this is an underwriting vehicle, not just a holding company. A €200m authorised capital base for a non-life insurer is substantial — this is not a shell. Watch for: USAA EU DAC's first annual return and accounts, which will reveal the scale of its Irish underwriting book and whether it is writing EU-wide business from Dublin.
The number that matters: €80,030,000 in issued capital on day one. For context, that is more than IRES REIT's entire issued share capital (€52.3m). A new entrant to the Irish insurance market at this scale, on the first day of 2026, is the kind of registration that rarely makes headlines but deserves attention.
The Broader Picture: Courts, Companies, and What Comes Next
The Companies Registration Office
The first seven days of 2026 saw 356 new companies registered with the CRO — a figure that includes a striking number of high-capital financial services entrants. The most notable is USAA EU Designated Activity Company (CRO: 805416), registered on 1 January 2026 with €200 million in authorised capital and €80 million issued — a US military-focused insurer establishing its EU underwriting hub in Ballsbridge, Dublin 4. Also registered on 7 January: FNZ Global Management Limited, a fintech firm at 1 Cumberland Place, Fenian Street, Dublin 2 — the same address as the period's highest-value property transaction (€1.626m). Whether the property transaction and the company registration are connected remains unconfirmed, but the coincidence is notable.
| Company | CRO No. | Registered | Capital / Sector |
|---|---|---|---|
| USAA EU Designated Activity Company | 805416 | 1 Jan 2026 | €80m issued / Non-life insurance |
| FNZ Global Management Limited | 910479 | 7 Jan 2026 | External company / Fintech, D02 FF20 |
| Pleo Technologies A/S | 910480 | 7 Jan 2026 | External company / Danish fintech, D04 |
| Phantom 2026-1 Aviation Limited | 910482 | 7 Jan 2026 | External company / Aviation, Shannon |
| Panta Rei SRL | 910481 | 7 Jan 2026 | External company / D03 NX37 |
The Irish Courts
January 2026 produced 31 High Court judgments, with three of particular relevance to property and planning practitioners. The most significant for planning policy was [2026] IEHC 46 (Duffy v Minister for Housing), in which Mr Justice Holland dismissed a challenge to the Minister's planning direction amending the Clare County Development Plan 2023-2029. The judgment confirms the broad ministerial powers in the development plan direction process — a ruling that will be studied by local authorities and developers alike. For residential landlords, [2026] IEHC 7 (Michael v Doody) clarified that a protected tenancy does not survive the tenant's death — a ruling with direct implications for landlords managing older tenancy arrangements.
| Citation | Parties | Subject | Why It Matters |
|---|---|---|---|
| [2026] IEHC 46 | Duffy v Minister for Housing | Planning direction challenge — Clare CDP | Confirms ministerial powers in development plan process; challenge dismissed |
| [2026] IEHC 7 | Michael v Doody | Protected tenancy succession rights | Landlord entitled to possession; protected tenancy ends on death |
| [2025] IEHC 393 | Pepper Finance v Cuffe | Mortgage possession — Waterford | Possession order granted; mortgage enforcement activity continues |
The Week Ahead
The opening week of 2026 has set the tone for a year in which institutional capital, brownfield development, and the ongoing mica crisis will dominate the property and planning agenda. The single most important takeaway from this period is the divergence between the headline median (€142,167) and the residential reality (€343,250) — a gap that will widen as the register captures more commercial transactions. For investors and analysts, the residential median is the number that matters.
The Portlaoise brownfield decision (due 3 March 2026) is the planning event to watch in Q1. If Laois County Council grants permission for 217 units on the former Centrepoint site, it will signal that large-scale brownfield residential development is viable in Midlands county towns — a significant shift in the geography of Irish housing supply. IRES REIT's Tallaght application (decision due 3 February 2026) will test whether institutional appetite for Dublin suburban apartments remains strong despite elevated financing costs.
What to Watch: (1) The Portlaoise brownfield decision by 3 March 2026 — a grant would be a landmark for Midlands housing supply. (2) IRES REIT's Tallaght application decision by 3 February 2026 — a test of institutional confidence in the Dublin rental market. (3) USAA EU DAC's first annual return, expected mid-2026 — will reveal the scale of its Irish underwriting book and confirm whether Dublin is becoming a serious EU insurance hub.