Property & Planning
Week of 2026-W11
Irish Property Market Intelligence
Monthly Report: Transactions, Planning & Market Trends — March 2026
Source: PROPERTY | Period: 2026-03-12 to 2026-03-16
February's Register Tells the Real Story: Dublin Median Hits €460,000 as Institutional Investors Signal an €800m Year Ahead
The Property Price Register for transactions registered in early 2026 — reflecting deals completed in late 2025 and early 2026 — shows 3 transactions logged nationally since January, with a national median of €331,504 and an average of €364,000. Dublin's median of €460,000 sits 39% above the national figure, a gap that has widened since December. Meanwhile, the planning pipeline for March 1–16 logged 0 applications covering 70 residential units — the largest a 29-home social and affordable scheme in Knocklyon, Dublin 16. The biggest story of the period, however, sits outside the register: German asset manager DWS is seeking €220 million for two Dún Laoghaire apartment schemes, a move that CBRE Ireland says signals a doubling of institutional residential investment in 2026.
By the Numbers
| Metric | Value | Signal |
|---|---|---|
| National average price (2026 YTD) | €364,000 | Up from Jan avg €342,600 |
| February transaction volume | 1,877 | +13% vs January (1,659) |
| Dublin median vs national median | +39% | Widening gap |
| Largest single transaction (Galway bulk) | €11.6m | 32-unit new build, VAT-excl. |
| Largest commercial transaction | €5.95m | Hotel, Fumbally Lane, D8 |
| Planning applications received (Mar 1–16) | 231 | 70 residential units total |
| Largest planning scheme (units) | 29 homes | Social/affordable, Knocklyon D16 |
| DWS Dún Laoghaire premium on 2020 cost | +12.8% | €195m → €220m ask |
The Investigation: Where the Money Is Moving
A deeper look at the 2026 year-to-date register reveals a market in two distinct phases. January was cautious — 1,659 transactions at a €342,600 average — while February accelerated sharply to 1,877 transactions at €382,914. The data lag inherent in the Property Price Register means these figures reflect contracts exchanged in late 2025 and early 2026, not the current week. What they show is a market that entered 2026 with momentum. The high-value end is particularly active: 54 transactions above €1 million were registered in Dublin alone over the period, led by a €2.27 million sale on Castle Avenue, Clontarf (D03) and a €5.95 million hotel development on Fumbally Lane, Dublin 8.
Notable Transactions Registered — 2026 YTD (Selected)
| Address | County | Price | Type | Signal |
|---|---|---|---|---|
| 1–32 Goirtín Murrough, Dublin Road, Galway | Galway | €11,596,998 | Residential (bulk) | 32 units, new build, VAT-excl. |
| Hotel Development, Fumbally Lane, Dublin 8 | Dublin | €5,950,379 | Commercial | D08 regeneration zone |
| 150 Castle Ave, Clontarf, Dublin 3 | Dublin | €2,270,000 | Residential | D03 premium — 4.9x national median |
| 1 Whitethorn, Balure Lane, Church Rd | Dublin | €2,020,000 | Residential | A96 Killiney/Shankill area |
| Hall Floor, 34 Synge St, Dublin 8 | Dublin | €1,795,000 | Residential | D08 — inner city premium |
| 4 Leinster Road West, Rathmines, Dublin 6 | Dublin | €1,650,000 | Residential | D06 — Rathmines premium |
| 27 Kincora Rd, Clontarf, Dublin 3 | Dublin | €1,525,000 | Residential | D03 — same street cluster |
| 40 Merlyn Rd, Ballsbridge, Dublin 4 | Dublin | €1,500,000 | Residential | D04 — Ballsbridge |
| 54 Hainault Road, Foxrock, Dublin 18 | Dublin | €1,390,000 | Residential | D18 — Foxrock |
| 27 Pavilions Shopping Centre, Swords | Dublin | €165,000 | Commercial | Retail unit, K67 eircode |
County Price Tracker — 2026 YTD vs December 2025
The county-level comparison below contrasts 2026 year-to-date averages (January–mid-March) against December 2025 averages. Note that December 2025 had a full month of data and higher volumes; the 2026 YTD figures reflect a partial period. Price direction is the more meaningful signal than volume change across these different time windows.
| County | Avg (2026 YTD) | Avg (Dec 2025) | Price Change | Txns (2026 YTD) | Txns (Dec 2025) |
|---|---|---|---|---|---|
| Dublin | €557,966 | €791,471 | -29.5% avg (mix effect) | 1,014 | 2,242 |
| Cork | €323,988 | €361,073 | -10.3% | 437 | 877 |
| Kildare | €393,202 | €432,771 | -9.1% | 177 | 448 |
| Galway | €376,420 | €487,327 | -22.8% avg (mix effect) | 192 | 360 |
| Meath | €349,507 | €455,680 | -23.3% avg (mix effect) | 147 | 337 |
| Limerick | €235,988 | €442,617 | -46.7% avg (mix effect) | 119 | 217 |
| Waterford | €197,719 | €373,586 | -47.1% avg (mix effect) | 91 | 188 |
| Kilkenny | €235,780 | €334,251 | -29.5% avg (mix effect) | 64 | 119 |
Planning Applications — March 1–16, 2026
The planning pipeline for the first half of March shows 231 applications received across local authorities, with 70 residential units proposed in total. The dominant application type is standard Permission (187 of 231), with 34 Retention applications — a persistent feature of the Irish planning system. Donegal County Council leads with 36 applications, reflecting the county's active rural one-off housing activity. The standout application is South Dublin County Council's Part 8 scheme at Castlefield Avenue, Knocklyon — 29 social and affordable homes on council-owned land.
| Application No. | Authority | Development | Units | Type |
|---|---|---|---|---|
| PT8SD359 | South Dublin CC | Castlefield Ave, Old Knocklyon Rd, Dublin 16 — Social & Affordable Mixed Tenure | 29 | Part 8 Social/Affordable |
| 2660335 | Galway County Council | Mount Carmel Road, Loughrea — renovation & extension of 3 dwellings | 2 | Permission |
| 2660065 | Galway City Council | 83 Lios an Uisce, Murrough, Galway — single-storey rear extension | 1 | Permission |
| 2650030 | Donegal County Council | No.15 Drumbaran Park, Ardara — completion with minor elevation changes | 1 | Extension of Duration |
| 2660095 | Cavan County Council | Aghnaglogh, Kill, Co. Cavan — single-storey dwelling | 1 | Permission |
The Connections: What the Data Alone Cannot Tell You
The register and the planning portal each tell part of the story. The register shows where money has already moved; the planning portal shows where it intends to go. But the most revealing signals emerge when you connect the two — and when you add the institutional investment layer, the court record, and the Business Post's own reporting. A deeper look this month reveals three converging themes: institutional capital re-entering the Irish residential market at scale, a planning system under sustained legal pressure, and a two-speed market that is becoming structurally entrenched.
The Radar: Three Signals Worth Watching
The Deep Dive: Two Stories Behind the Numbers
This month, two entities stand out for deeper investigation: the Galway bulk transaction that represents the largest single deal in the period, and the South Dublin County Council social housing scheme that represents the most significant planning application. Together, they illustrate the two parallel housing markets operating in Ireland in 2026 — the institutional/bulk market and the state-delivered social housing pipeline.
Goirtín Murrough, Galway — Ireland's Largest Registered Transaction This Period
The 32-unit residential development at Goirtín Murrough, Dublin Road, Galway — registered on 5 February 2026 for €11,596,998 VAT-exclusive — is the single largest transaction in the 2026 year-to-date register. The development is described as "New Dwelling house/Apartment" and the VAT-exclusive treatment confirms it is a new build. The Murrough area of Galway city sits on the eastern approach along the Dublin Road, an area that has seen significant residential development over the past decade as Galway's housing market has expanded outward from the city centre.
| Metric | Value | Context |
|---|---|---|
| Transaction price (VAT-excl.) | €11,596,998 | Largest single transaction in period |
| Units in transaction | 32 | Addresses 1–32 Goirtín Murrough |
| Implied per-unit price (ex-VAT) | ~€362,000 | Galway county avg: €376,420 |
| Transaction date | 5 Feb 2026 | Registered March 2026 (4-6 week lag) |
| Property type | Residential | New build — VAT-exclusive |
| Comparable Galway range | €315k–€415k | Individual units, same period |
| Bulk discount implied | ~3–4% | vs individual market value |
The question for 2026: will the Galway bulk market see further transactions of this scale? The county's 192 transactions YTD at an average of €376,420 suggest healthy demand, and Galway City Council's planning pipeline includes multiple apartment schemes. If institutional buyers are returning to the market — as the DWS story suggests nationally — Galway's new-build pipeline could see further bulk sales before year-end.
Castlefield Avenue, Knocklyon, Dublin 16 — The State Builds
South Dublin County Council's Part 8 application for 29 social and affordable homes at Castlefield Avenue, Old Knocklyon Road, Dublin 16 (application PT8SD359) is the most significant planning application in the March 1–16 period. The scheme — on SDCC-owned land — proposes a mixed tenure development of 8 three-bedroom houses, 4 two-bedroom apartments, and 17 apartments (including 1 studio, 8 one-bed, 4 two-bed, and 4 three-bed) across a site of 8,034 square metres. The D16 X7R8 eircode places it in the established Knocklyon suburb, adjacent to existing residential estates.
| Metric | Value | Context |
|---|---|---|
| Application number | PT8SD359 | South Dublin County Council |
| Total homes proposed | 29 | Mixed tenure social & affordable |
| Site area | 8,034 sq m | SDCC-owned land |
| Application type | Part 8 | Local authority own-land mechanism |
| Received date | 5 Mar 2026 | Public consultation to 21 Apr 2026 |
| Location | D16 X7R8 | Knocklyon, established suburb |
| Unit mix | 8 houses + 21 apts | Studios to 3-bed |
The question for Q2 2026: will the council vote approve the scheme, and will any objections during the public consultation period delay the timeline? The scheme has undergone Appropriate Assessment screening and EIA screening — both concluded no significant effects — which removes two common grounds for legal challenge.
Key People This Period
| Name | Role | Notable Activity | Connections |
|---|---|---|---|
| Stefan Hoops | CEO, DWS | Overseeing €220m Dún Laoghaire apartment sale — DWS's largest Irish residential exit | Deutsche Bank subsidiary; €1 trillion AUM globally |
| Colin Richardson | CBRE Ireland | Forecasting €800m+ residential investment transactions in 2026 — double 2025 levels | CBRE Ireland; key institutional market intelligence |
| Humphreys J. | High Court Judge | Dismissed data centre planning challenge [2026] IEHC 156 — upheld An Coimisiún Pleanála | Also delivered [2026] IEHC 137 planning JR |
| Nolan J. | High Court Judge | Delivered first written judgment on covenant discharge under 2009 Act — [2026] IEHC 153 | GUIA Properties v Paddocks Killeline; landmark for property development |
| GUIA Properties Limited | Property Developer | Secured discharge of freehold covenant to enable 10-house development in Newcastle West, Limerick | [2026] IEHC 153; Nautic Building Company (in liquidation) |
One to Watch: The Fumbally Lane Hotel Development
Hotel Development, Fumbally Lane, Dublin 8
| Metric | Value |
|---|---|
| Transaction price | €5,950,379 |
| Property type | Commercial |
| Description | Hotel Development |
| Location | Fumbally Lane, Dublin 8 |
| VAT-exclusive | No |
| Full market price | Yes |
What they do: Fumbally Lane is a short street in the Liberties/Newmarket area of Dublin 8, adjacent to the Coombe and the emerging creative/hospitality quarter around Newmarket Square. The transaction at €5.95 million for a hotel development site represents a significant commercial bet on Dublin 8's continued transformation from a traditional working-class inner-city area to a mixed-use destination quarter.
Why it matters: Dublin 8 has been one of the most actively regenerating parts of the capital over the past decade. The Fumbally area — home to the well-known Fumbally Café and a cluster of creative businesses — has attracted hospitality investment at a pace that would have been unthinkable a decade ago. A hotel development at this price point implies a developer with strong conviction about Dublin 8's trajectory as a visitor destination. The D08 eircode area also includes the Liberties, Kilmainham, and Rialto — all of which are seeing residential price appreciation (34 Synge Street sold for €1.795 million in the same period). The commercial and residential markets in D08 are moving in the same direction.
The number that matters: €5.95 million for a hotel development site in Dublin 8 — equivalent to approximately 30 times the median Dublin residential transaction price. That multiple tells you this is not a speculative punt; it is a calculated development play by someone who has done the numbers on hotel room rates, occupancy, and construction costs in this specific micro-location. Watch for a planning application for this site within 12–18 months.
The Broader Picture: Courts, Companies & The Week Ahead
The Irish Courts
The High Court delivered 24 judgments in the first half of March 2026, with a notable concentration of planning and property-related cases. The most significant for the development sector is the dismissal of a challenge to a data centre planning permission in Clare — a ruling that clears the legal path for a development type that has faced sustained opposition. Separately, the first written judgment on the discharge of a freehold covenant under the 2009 Land and Conveyancing Law Reform Act provides a practical new tool for developers holding land encumbered by historic restrictions.
| Citation | Parties | Subject | Why It Matters |
|---|---|---|---|
| [2026] IEHC 156 | Doyle & Ors v An Coimisiún Pleanála [No.3] | Data centre planning permission — climate/EIA challenge | Challenge dismissed; planning commission upheld; clears data centre pipeline |
| [2026] IEHC 153 | GUIA Properties v Paddocks Killeline Management | Freehold covenant discharge — 10-house development, Newcastle West, Limerick | First written judgment under Section 50 LCLRA 2009; landmark for developers |
| [2026] IEHC 137 | Condon v An Coimisiún Pleanála [No.2] | Planning judicial review — ongoing challenge | Continued pressure on planning commission from judicial review applicants |
| [2026] IEHC 135 | Rural Residents Wind Aware v An Coimisiún Pleanála [I] [No.2] | Wind energy planning challenge | Challenge dismissed; supports renewable energy planning pipeline |
| [2026] IEHC 140 | Charles Kelly Limited v Companies Act 2014 | Companies Act application — High Court | Corporate governance matter; Charleton J. presiding |
Property Markets & Plans
The commercial property market showed selective activity in the period, with the €5.95 million Fumbally Lane hotel development the standout transaction. On the planning side, 231 applications were received in the first 16 days of March, with the planning pipeline dominated by rural one-off housing (particularly in Donegal) and the SDCC social housing scheme in Knocklyon. The residential investment market is being shaped by the DWS Dún Laoghaire sale process, which CBRE Ireland says is a harbinger of a much more active institutional market in 2026.
| Location | Type | Detail | Signal |
|---|---|---|---|
| Fumbally Lane, Dublin 8 | Commercial transaction | Hotel development site — €5.95m registered Feb 2026 | D08 regeneration momentum |
| Castlefield Ave, Knocklyon, D16 | Planning application | 29 social/affordable homes on SDCC land — Part 8 application PT8SD359 | State delivery pipeline active |
| Dún Laoghaire, Dublin | Investment sale process | DWS seeking €220m for two apartment schemes — CBRE Ireland advising | Institutional re-entry signal |
| Donegal (multiple) | Planning applications | 36 applications in 16 days — highest volume of any authority nationally | Rural housing demand strong |
| Galway (Murrough) | Bulk residential transaction | 32 units, €11.6m VAT-excl. — largest single transaction in period | New build supply reaching market |
The Week Ahead
The dominant theme of this month's report is the return of institutional capital to the Irish residential market — and the question of whether the planning and legal system can keep pace with the demand it is generating. The DWS €220m Dún Laoghaire sale process will be the most closely watched transaction in the Irish property market for the remainder of Q1 2026. The buyer, when identified, will tell us whether the institutional re-entry is led by domestic or international capital, and whether the appetite is for existing stock or new development. Meanwhile, the February acceleration in transaction volumes — 1,877 deals at an average of €382,914 — suggests the market entered spring 2026 with genuine momentum, not just seasonal noise.
What to Watch:
- The DWS Dún Laoghaire sale process: who bids, at what price, and what it signals for the €800m institutional residential market CBRE is forecasting for 2026.
- The South Dublin County Council vote on the Castlefield Avenue Part 8 scheme — expected Q2 2026 — and whether any objections during the April consultation period delay the timeline.
- March 2026 transaction data when it registers in April/May: will the February acceleration continue, or was it a one-month surge driven by year-end contract completions?