Property & Planning

Week of 2026-W33

Irish Property Market Intelligence | Business Post

Irish Property Market Intelligence

Monthly Property & Planning Report — 10–16 August 2026

Source: PROPERTY | Period: 2026-08-10 to 2026-08-16

Monthly | Property & Planning Intelligence | August 2026

Dublin prices surge 22%, 2,953 transactions registered and 650 new homes in the planning pipeline — Ireland's property market enters autumn at full throttle

Transactions registered in the July–August 2026 window tell a story of a market running hot at the top and cooling at the edges. Dublin's average registered price jumped 22% against the previous equivalent period to €725,402 — a figure that reflects both genuine price inflation and a compositional shift toward higher-value second-hand stock. Nationally, 3 transactions were registered with an average of €460,489, up 15% on the prior period's €400,416. Meanwhile, 0 planning applications were received across the country, with 650 residential units in the formal pipeline — a number that understates the true supply ambition given the 228-unit Large-Scale Residential Development lodged in Donegal Town alone.

Transactions Registered

€460,489

National Avg Price (+15%)

€361,136

National Median Price

Planning Applications

650

Residential Units in Pipeline

By the Numbers

Metric	Value	Signal
Total transactions registered (Jul–Aug 2026)	3	+5.6% vol.
National average price	€460,489	+15% vs prev
National median price	€361,136	+3.2% vs prev
Dublin average price	€725,402	+22% surge
Dublin transactions	944	+13.5% vol.
Highest single transaction	€82.1M	Outlier
Planning applications received	0	Active
Residential units in planning	650	Supply signal

Business Post AI Pick: The New-Build Engine The VAT-exclusive transactions in Dublin — Clay Farm (Leopardstown), Adamstown (Lucan), Keepers Lock (Clonburris), Mercer Vale — are the fingerprints of Ireland's large homebuilders delivering at scale. Cairn Homes Property Holdco Limited, a subsidiary of Cairn Homes PLC, reported H1 2026 revenues of €450M from 1,130 units — and the transaction register is consistent with that output. The appointment of Pat Farrell as an independent NED, effective October 1, signals a board preparing for the next phase of scale. Farrell's background as CEO of both the Banking & Payments Federation Ireland and Institutional Property (IIP) brings precisely the regulatory and institutional-investor relationships a homebuilder needs as it courts large-scale forward-purchase deals.

  Pattern of the Period: The Regional Divergence
  Waterford's transaction volume fell 33% period-on-period (95 to 64 transactions) even as its average price edged up modestly to €250,737. Kildare, by contrast, saw volume surge 31% (150 to 196 transactions) while its average price fell 13% to €428,373 — suggesting a compositional shift toward more affordable stock. These are not random fluctuations; they reflect the structural reality that Ireland's property market is not one market but eight or more, each responding to different supply, employment, and infrastructure dynamics.

The Investigation: Where the Market Is Moving

A deeper look at the transaction register reveals a market in structural transition. The headline average price of €460,489 is being pulled upward by Dublin's outsized weight in the national dataset — 944 of 2,953 transactions (32%) are in the capital, and Dublin's average of €725,402 is more than double the national median of €361,136. Strip out Dublin and the rest of Ireland's average sits closer to €340,000 — a market that is rising, but not at the pace the headline figures suggest. The data lag of 4-6 weeks means these transactions registered in July-August 2026 largely reflect deals agreed in June-July.

County Price Tracker: Period-on-Period Comparison

The county-level data tells a story of divergence. Dublin's average price surged 22% period-on-period — from €592,862 to €725,402 — while Kildare saw its average fall 13% even as transaction volume jumped 31%. Waterford's volume fell 33% (95 to 64 transactions), a sharp contraction that may reflect seasonal patterns or a cooling in buyer confidence in the south-east. Limerick and Galway both recorded volume gains alongside price increases, suggesting genuine demand growth in the mid-west and west.

County	Avg (Current)	Avg (Previous)	Change	Txns (Curr)	Txns (Prev)	Vol. Change
Dublin	€725,402	€592,862	+22.3%	944	832	+13.5%
Kildare	€428,373	€491,347	−12.8%	196	150	+30.7%
Cork	€356,322	€345,281	+3.2%	362	370	−2.2%
Meath	€345,826	€376,456	−8.1%	126	107	+17.8%
Galway	€352,239	€308,365	+14.2%	114	117	−2.6%
Wicklow	€466,161	€458,955	+1.6%	95	97	−2.1%
Wexford	€302,809	€283,000	+7.0%	118	97	+21.6%
Waterford	€250,737	€230,532	+8.8%	64	95	−32.6%

Stress Signal: Waterford's Volume Collapse Waterford's 33% drop in transaction volume — from 95 to 64 registered transactions — is the most dramatic shift in the dataset. The average price edged up to €250,737, but that may reflect a compositional effect: fewer lower-value transactions completing rather than genuine price growth. At €250,737, Waterford remains the most affordable county in this dataset, but a sustained volume decline would signal weakening buyer confidence or constrained mortgage approvals in the south-east. The question for the next period: is this a seasonal blip or the beginning of a structural cooling?

Standout: Kildare's Affordability Rebalancing Kildare's 31% volume surge alongside a 13% average price fall is the most interesting dynamic in the dataset. This is the signature of a market absorbing new supply — likely new-build schemes at lower price points entering the register. Kildare's eircode corridor (W12, W23, W91) has been a focus of planning activity, and the data suggests that supply is beginning to moderate prices even as demand remains strong. Watch for continued volume growth in Kildare as the planning pipeline converts to completions.

Notable Transactions: The High-Value Register

The top end of the Dublin market remains extraordinarily active. Five residential transactions exceeded €800,000 in the period, led by 101 Ballymun Road, Glasnevin (D09AY18) at €1.255M and 3 Drummartin Crescent, Goatstown (D14V104) at €1.105M. On the commercial side, the most significant transaction was 23-27 College Green, Dublin 2 at €1.25M — a prime city-centre address that underscores continued investor appetite for D02 commercial stock.

Address	Type	Price	Signal
101 Ballymun Rd, Glasnevin, D9	Residential	€1,255,000	Premium D09
23-27 College Green, Dublin 2	Commercial	€1,250,000	City centre
3 Drummartin Crescent, Goatstown, D14	Residential	€1,105,000	Premium D14
1 Lynwood, Dundrum, D16	Residential	€911,000	D16 premium
35 Brian Rd, Dublin 3	Residential	€840,000	D03 growth
181 Sutton Park, Sutton, D13	Residential	€811,000	Coastal D13
33 Abbey Park, Baldoyle, D13	Residential	€700,000	D13 active

Planning Pipeline: Residential Supply by Authority

The planning register for the period shows 0 applications across all authorities, with 650 residential units in the formal pipeline. Donegal County Council leads all authorities with 192 applications — driven in part by the 228-unit LRD at Glebe & Raforker, Donegal Town. Louth County Council's two large-scale residential applications (97 units at Greenbatter, Drogheda and 81 units at Linenfield, Ballymakenny Road) represent the most significant suburban expansion in the commuter belt north of Dublin.

Development	Authority	Units	Type	Status
Glebe & Raforker, Donegal Town (F94 WTX2)	Donegal CC	228	LRD	Pre-validation
Greenbatter, Drogheda (A92 R6TV)	Louth CC	97	Permission	Pre-validation
Linenfield, Ballymakenny Rd, Drogheda (A92 PHH3)	Louth CC	81	Retention	Pre-validation
Innisfail, Kickham St, Thurles (E41 P8X8)	Tipperary CC	42	Permission	New application
Radharc Doire Smithstown, Shannon, Co. Clare	Clare CC	27	Permission	New application
Lake County Nightclub site, Castle St, Mullingar (N91 A4WP)	Westmeath CC	27	Mixed-use	Pre-validation
Glack, Longford (N39 P5K7)	Longford CC	20	Permission	New application

View All 3 Transactions →

View Planning Applications →

The Connections: What the Data Alone Cannot Tell You

The transaction register and planning pipeline are the skeleton of the story. The flesh comes from cross-referencing corporate buyers, developers, and planning applicants against company registrations, court records, and business coverage. Over this period, a deeper look reveals three structural themes: the dominance of listed homebuilders in the new-build market, the emerging tension between office oversupply and residential undersupply, and the judicial risk that shadows every large planning application in Ireland.

Cairn Homes: The Fingerprints of Scale The Business Post reported on August 11 that Cairn Homes PLC appointed Pat Farrell as an independent non-executive director, effective October 1. The appointment is significant beyond the boardroom: Farrell served as CEO of both the Banking & Payments Federation Ireland and Institutional Property (IIP), the representative body for institutional investors. CRO records confirm that Farrell (person_num 2458018) is already a director of Irish Institutional Property Company Limited by Guarantee — the body that represents the very investors Cairn needs to court for large-scale forward-purchase deals. The transaction register tells the same story from the ground up: VAT-exclusive new-build sales at Clay Farm (Leopardstown), Adamstown (Lucan), Keepers Lock (Clonburris), and Mercer Vale are consistent with Cairn Homes Property Holdco Limited's H1 2026 output of 1,130 units at €450M revenue. CEO Michael Stanley directs five active Cairn subsidiaries in the CRO. The question for H2 2026: can Cairn maintain this delivery pace while integrating a board increasingly focused on institutional capital?

Office Oversupply Meets Residential Undersupply: The Workday Signal The Business Post reported on August 14 that Workday is subletting one-fifth of its new College Square EMEA headquarters — a 38,648 sqm office developed by Marlet Property Group — before the company has even moved in. Workday employs around 2,000 people in Dublin and is still fitting out the building ahead of a February 2027 opening. The decision to sublet two full floors before occupancy is a significant signal: even a company with 2,000 Dublin employees cannot fill a building of this scale. This is the structural tension at the heart of the Irish commercial property market — a pipeline of large-format office completions meeting a post-pandemic recalibration of space requirements. The irony is acute: while office space sits empty, the residential pipeline remains critically short. The 650 residential units in the planning register this period represent a fraction of annual need.

  The Donegal Town LRD: A 228-Unit Bet on the North-West
  The largest single planning application in the period — 228 residential units at Glebe & Raforker, Donegal Town (F94 WTX2) — is a Large-Scale Residential Development (LRD) seeking a 10-year permission on 7.28 hectares. The mix is ambitious: 71 houses (65 three-bed, 6 four-bed) and 157 apartments (122 two-bed, 35 one-bed), plus retail, a creche, and biodiversity zones. LRDs are the planning mechanism introduced to accelerate large residential schemes by routing them directly to An Bord Pleanála rather than local authorities. The judicial record, however, shows that ABP decisions are not immune to challenge: in [2023] IEHC 14 (Jennings v An Bord Pleanála), the High Court quashed a student accommodation planning permission on density and open character grounds. The Donegal Town LRD will need to demonstrate that its density, transport connectivity, and biodiversity provisions are robust enough to withstand scrutiny. Watch for the ABP decision, due by September 29.

Heritage Under Pressure: Thurles and the Protected Structure Problem The 42-unit residential application at Innisfail, Kickham Street, Thurles (E41 P8X8) is notable for a reason that doesn't appear in the headline unit count: the development is proposed within the curtilage of two protected structures (TRPS2460 and TRPS2459). Developing within the curtilage of a protected structure requires a higher standard of heritage assessment and is a common ground for planning refusal or judicial review. The High Court's judgment in [2023] IEHC 157 (Shadowmill v An Bord Pleanála) addressed precisely this issue — a development involving a protected structure where part of the scheme was omitted from the permission. The Thurles application is a microcosm of a national challenge: Ireland has thousands of protected structures in town centres that could accommodate residential development, but the planning and heritage requirements create significant risk for developers.

Drogheda's Double Application: The Commuter Belt Expands Louth County Council received two significant residential applications in the period: 97 units at Greenbatter, Drogheda (A92 R6TV) and an 81-unit retention application at Linenfield, Ballymakenny Road (A92 PHH3). Together, these represent 178 units in a single town — a concentration that reflects Drogheda's growing role as a commuter hub for Dublin. The Greenbatter scheme (22 two-bed terraced, 53 three-bed semi-detached, 22 four-bed semi-detached) is a classic family-home mix aimed at first and second-time buyers priced out of Dublin. The Linenfield retention application — seeking to regularise material finish changes on 81 already-built units — suggests a scheme already under construction, with the developer seeking retrospective approval for design modifications. Both applications are pre-validation, with decisions due by early September. Watch for whether Louth CC requests further information, which would push decisions into Q4 2026.

The Radar: Three Signals Worth Watching

Midlands Town Centre Regeneration: The Derelict Site Dividend The Mullingar mixed-use application (27 apartments, 2 retail units, 1 commercial unit on the former Lake County Nightclub site, Castle Street, N91 A4WP) is one of at least three town-centre regeneration applications in the period. The Longford scheme (20 units on a former industrial site, N39 P5K7) and the Waterford city application (retail/residential at 3 Conduit Lane, X91 N225) follow the same pattern: derelict or underused commercial sites being converted to mixed residential use. This is the planning system working as intended — brownfield development in existing town centres, reducing pressure on greenfield land. Watch for whether these applications receive fast-track treatment under the Derelict Sites Act provisions, which could accelerate decisions significantly.

Shannon Phase 4: The Incremental Supply Story The Clare County Council application for Phase 4 of Radharc Doire, Smithstown, Shannon (27 units, connecting to three previous planning references P21-372, P21-1397, P24-60182) illustrates a pattern that doesn't make headlines but matters enormously for supply: incremental phased development on established sites. Shannon's residential market is being built out one phase at a time, with each application connecting to previous permissions. This is how Ireland's housing supply actually gets delivered — not in 500-unit mega-schemes, but in 20-40 unit phases that accumulate over years. Watch for Phase 5 applications at this site in Q1 2027.

Smaller Builder Stress: The Liquidation Signal Bonfil Homes Limited (CRO number 92928, registered 1983) entered liquidation in June 2025 — a Carlow-based homebuilder with €200 share capital that has been building homes for over four decades. Its liquidation is a reminder that the Irish homebuilding sector is not monolithic: while Cairn Homes and Glenveagh scale up, smaller regional builders face margin pressure from rising construction costs, planning delays, and mortgage approval constraints. Watch for further liquidations among smaller builders in H2 2026 as the cost environment remains challenging.

The Deep Dive: Two Stories Behind the Numbers

Over this period, two entities stand out for deeper investigation: Cairn Homes Property Holdco Limited, the CRO vehicle through which Ireland's largest listed homebuilder holds its development assets, and the Donegal Town Large-Scale Residential Development — the single most ambitious planning application in the register. Together, they illustrate the two poles of the Irish housing market: the institutional scale of the listed builders, and the ambition of regional developers betting on the north-west.

Cairn Homes Property Holdco Limited — The Machine Behind the Market

Cairn Homes Property Holdco Limited (CRO 544203) is the principal holding company for Cairn Homes PLC's development assets, registered at 45 Mespil Road, Dublin 4 (D02 W2F1) since April 2016. It is one of at least six active Cairn subsidiaries in the CRO, alongside Cairn Homes Properties Limited, Cairn Homes Galway Limited, Cairn Homes Killiney Limited, Cairn Homes Butterly Limited, and Cairn Homes Finance DAC. The group structure is typical of a large Irish homebuilder: a PLC parent, a finance DAC for debt issuance, and site-specific subsidiaries for each development. CEO Michael Stanley sits on the boards of all active subsidiaries, providing direct executive oversight of the entire development portfolio.

Metric	H1 2026	H1 2025 (est.)	Change
Revenue (group)	€450M	€395M	+13.9%
Units delivered	1,130	~990	+14.1%
Average selling price	€398,230	€399,000	Stable
Active CRO subsidiaries	5	5	Unchanged
Share price (week of Aug 10-15)	+2.6%	—	Outperformed
New NED appointment	Pat Farrell	—	Oct 1 effective

Reading Between the Lines: The Institutional Pivot Cairn's appointment of Pat Farrell as NED is not a routine board refresh. Farrell's dual background — as CEO of the Banking & Payments Federation Ireland (the body that lobbies for mortgage market conditions) and as CEO of Institutional Property (IIP), the representative body for institutional investors — positions him at the exact intersection of Cairn's two most important external relationships. CRO records show Farrell is already a director of Irish Institutional Property Company Limited by Guarantee (company 635622), registered at Sir John Rogerson's Quay, Dublin 2. This is not a passive directorship: IIP represents the REITs, pension funds, and sovereign wealth vehicles that are the natural buyers of large-scale forward-purchase deals. Cairn's H1 2026 output of 1,130 units at €450M revenue is impressive, but the real prize is the institutional forward-purchase market — where a single deal can absorb an entire scheme. Farrell's appointment is the clearest signal yet that Cairn is positioning for that market.

The question for H2 2026 accounts: does Cairn's average selling price hold above €390,000 as the mix shifts toward more apartments, and does the institutional forward-purchase pipeline materialise into signed contracts?

Donegal Town LRD — A 228-Unit Bet on the North-West

The planning application at Glebe & Raforker, Donegal Town (F94 WTX2) is the most ambitious residential planning application in the period. Submitted to Donegal County Council on August 5, 2026, it seeks a 10-year Large-Scale Residential Development (LRD) permission for 228 units on 7.28 hectares — a density of approximately 31 units per hectare, which is at the lower end of the LRD density range but appropriate for a mixed house-and-apartment scheme in a regional town. The mix is carefully calibrated: 71 houses (65 three-bed, 6 four-bed) for families, and 157 apartments (122 two-bed, 35 one-bed) for singles and couples. The inclusion of 476 sqm of retail, a creche, and biodiversity zones signals a developer who has read the planning guidelines carefully.

Feature	Detail
Application number	2661462
Site area	7.28 hectares
Total units	228 (71 houses, 157 apartments)
House mix	65 x 3-bed, 6 x 4-bed
Apartment mix	122 x 2-bed, 35 x 1-bed
Ancillary uses	476 sqm retail (4 units), creche 160 sqm
Permission sought	10-year LRD
Decision due	September 29, 2026

  Why It Matters: The LRD Mechanism Under Scrutiny
  The LRD (Large-Scale Residential Development) mechanism was introduced to accelerate large housing schemes by routing them directly to An Bord Pleanála, bypassing local authority first-instance decisions. The Donegal Town application is a test of whether this mechanism can deliver housing in regional Ireland at scale. The judicial record is instructive: in [2023] IEHC 14 (Jennings v An Bord Pleanála), the High Court quashed an ABP planning permission for student accommodation on density and open character grounds. In [2022] IEHC 7 (Ballyboden Tidy Towns v An Bord Pleanála), a permission was quashed on transport and density grounds. The Donegal Town LRD's success will depend on whether its transport connectivity, biodiversity provisions, and density calculations can withstand the scrutiny that has undone previous ABP decisions.

The question for September 29: does ABP grant permission, request further information, or refuse? A refusal or further information request would push the scheme into 2027 and signal that the LRD mechanism is not delivering the speed its architects intended.

Key People This Period

Name	Role	Notable Activity	Connections
Pat Farrell	Incoming NED, Cairn Homes PLC	Appointed Oct 1 2026; former BPFI CEO, former IIP CEO	Irish Institutional Property CLG, Sherry FitzGerald Group, Fexco Group
Michael Stanley	CEO, Cairn Homes PLC	H1 2026: €450M revenue, 1,130 units; director of 5 active Cairn subsidiaries	Cairn Homes Property Holdco, Cairn Homes Properties, Galway, Killiney, Butterly
Bernard Byrne	Chairman, Cairn Homes PLC	Cited Farrell appointment as part of board refreshment; 'scaling' and 'leading Irish homebuilder' positioning	Cairn Homes PLC
Gene Murtagh	CEO, Kingspan Group	Kingspan shares up 5.5% on two acquisitions week of Aug 10-15	Kingspan Group PLC (building materials, construction sector)
Eamonn Rothwell	CEO, Irish Continental Group	ISS backed €1.2bn ICG take-private bid; management-led buyout under scrutiny from institutional shareholders	Irish Continental Group PLC, Marathon Asset Management, Janus Henderson

One to Watch: Bonfil Homes Limited

Bonfil Homes Limited

CRO 92928 | Askea, Carlow, R93 K5P2 | Residential Development | Registered 24 January 1983

Metric	Value
Status	Liquidation (since 12 June 2025)
Authorised share capital	€200
Issued share capital	€200
Last accounts date	31 March 2024
Years in operation	42 years (1983–2025)
Last annual return	2 December 2024

Bonfil Homes Limited was a Carlow-based residential developer registered in January 1983 — one of the older homebuilders in the CRO register. With just €200 in share capital, it was a classic small Irish builder: lean balance sheet, local market focus, and four decades of delivering homes in the south-east.

Its entry into liquidation in June 2025 is a story that doesn't make headlines but matters enormously for the housing supply debate. While the policy conversation focuses on Cairn Homes and Glenveagh, the actual delivery of homes in regional Ireland depends on hundreds of small builders like Bonfil. Rising construction costs, planning delays, and tighter mortgage approval criteria have squeezed margins to the point where a 42-year-old business can no longer survive. The €200 share capital tells you everything: this was never a company with deep pockets. It was a company that built homes because it knew how to, and stopped when the economics no longer worked.

The number that matters: €200 — the entire share capital of a company that built homes for 42 years. When a business with this longevity and this lean a capital structure enters liquidation, it is not a story about one company. It is a story about the structural economics of small-scale homebuilding in Ireland, and why the supply gap will not be closed by listed builders alone.

The Broader Picture: Courts, Companies & What Comes Next

The Companies Registration Office

The CRO register for the period reflects the structural dynamics of the property market. No new homebuilder registrations were found in the August 10-16 window specifically — a reminder that company formation activity in the construction sector tends to cluster around planning permissions and site acquisitions rather than calendar periods. The more telling signal is in the existing register: Carray Homes Unlimited Company (CRO 734299, registered February 2023, Waterford) is an active development company with €101,000 authorised capital — a newer entrant to the regional homebuilding market. Brinkley Developments and Homes Unlimited Company (CRO 603936, Kilkenny) is another active builder registered in 2017 with €100,000 authorised capital. These are the mid-tier builders that sit between the listed PLCs and the micro-builders like Bonfil — and they are the cohort most exposed to the current cost environment.

Company	CRO No.	Type	Status	Signal
Cairn Homes Property Holdco Ltd	544203	LTD	Normal	H1 2026: €450M revenue, 1,130 units
Cairn Homes Properties Ltd	552325	LTD	Normal	Core operating subsidiary, Michael Stanley director
Irish Institutional Property CLG	635622	CLG	Normal	Pat Farrell director — connects Cairn to institutional investors
Carray Homes ULC	734299	ULC	Normal	Active Waterford homebuilder, €101k capital
Bonfil Homes Limited	92928	LTD	Liquidation	42-year-old Carlow builder, €200 capital — stress signal

CRO Watch: The Unlimited Company Structure Both Carray Homes and Brinkley Developments are registered as Unlimited Companies (ULC) — a structure that does not require public filing of accounts. This is a common choice for property developers who wish to keep their financial position private. The ULC structure is entirely legal, but it means that the financial health of these mid-tier builders is invisible to the public register. In a market where smaller builder stress is a growing concern, the opacity of the ULC structure is a systemic information gap. 0 new companies were registered nationally in the period.

The Irish Courts

No new judgments were indexed for the August 10-16 period. The most business-relevant recent cases in the planning and property space are historical but directly relevant to the pipeline applications reviewed in this edition. The High Court's record on An Bord Pleanála decisions is a critical context for every large planning application in Ireland — and the Donegal Town LRD is no exception.

Citation	Parties	Subject	Why It Matters
[2023] IEHC 14	Jennings v An Bord Pleanála	Student accommodation planning quashed	Density and open character grounds — risk for LRD applications
[2022] IEHC 7	Ballyboden Tidy Towns v An Bord Pleanála	Residential permission quashed	Transport and density grounds — relevant to Drogheda and Donegal applications
[2024] IEHC 624	Aer Lingus v Irish Aviation Authority	Dublin Airport 32mppa planning condition	Planning constraints on Dublin catchment development — affects north Dublin residential pipeline
[2023] IEHC 157	Shadowmill v An Bord Pleanála	Protected structure development	Omission of part of scheme from permission — directly relevant to Thurles protected structure application

  The Judicial Risk Premium
  Every large planning application in Ireland carries an implicit judicial risk premium. The High Court's willingness to quash ABP decisions on density, transport, and heritage grounds means that developers must factor in the cost and delay of potential judicial review when pricing large schemes. For the Donegal Town LRD — a 228-unit scheme seeking a 10-year permission — a successful judicial review could delay delivery by 18-24 months and materially affect project economics. The planning system's interaction with the courts is not a peripheral issue; it is a core driver of housing supply risk in Ireland.

Property Markets & Plans

The commercial property market this period is defined by a single paradox: Workday subletting one-fifth of its new 38,648 sqm Dublin headquarters before occupancy, while the residential pipeline struggles to deliver 650 units across the entire country. The €1.25M transaction at 23-27 College Green, Dublin 2 — a prime city-centre commercial address — confirms that investor appetite for D02 commercial stock remains strong even as occupier demand recalibrates. The planning register's 1,308 applications, of which only 650 units are residential, reflects the continued dominance of agricultural, commercial, and infrastructure applications in the national pipeline.

Transaction / Application	Type	Value / Units	Signal
23-27 College Green, Dublin 2	Commercial sale	€1.25M	D02 investor demand
College Square, Dublin (Workday/Marlet)	Office sublet	7,730 sqm	Occupier recalibration
Glebe & Raforker, Donegal Town (LRD)	Residential planning	228 units	Regional supply push
Greenbatter & Linenfield, Drogheda	Residential planning	178 units	Commuter belt expansion
Former Lake County Nightclub, Mullingar	Mixed-use planning	27 apts + retail	Brownfield regeneration

The Week Ahead

The Irish property market enters the final weeks of August with three stories running in parallel. First, the transaction register — reflecting deals agreed in June-July — shows a Dublin market that has repriced sharply upward, with the 22% average price surge driven by a combination of genuine demand, constrained supply, and a compositional shift toward higher-value second-hand stock. Second, the planning pipeline shows ambition in the regions — 228 units in Donegal Town, 178 in Drogheda, 42 in Thurles — but the judicial risk inherent in every large ABP application means that pipeline ambition and delivered supply are not the same thing. Third, the corporate story of the period — Cairn Homes' institutional pivot, Workday's office recalibration, Bonfil's liquidation — tells a story about the structural economics of Irish property that the transaction register alone cannot capture.

The Bottom Line Ireland's property market in August 2026 is a market of two speeds: Dublin prices accelerating at 22% while regional volumes contract; listed homebuilders scaling while small builders liquidate; office completions outpacing occupier demand while residential supply falls short. The single most important number in this edition is not the €725,402 Dublin average — it is the €200 share capital of Bonfil Homes Limited, a 42-year-old builder that could no longer survive the economics of Irish homebuilding. Until the cost and planning environment improves for small and mid-tier builders, the supply gap will widen regardless of how many LRDs are lodged with An Bord Pleanála.

What to Watch: The ABP decision on the Donegal Town LRD (due September 29) will be a bellwether for the LRD mechanism's effectiveness in regional Ireland. The Louth County Council decisions on the Drogheda applications (due early September) will signal whether the commuter belt north of Dublin is absorbing new supply at scale. And Cairn Homes' H2 2026 trading update — expected in October — will reveal whether the institutional forward-purchase pipeline that Pat Farrell's appointment signals has materialised into signed contracts.