Development Land Market Update H1 2023
The development land market in the greater Dublin area (GDA) remained challenging in H1 2023 amid global economic uncertainties, leading to a slowdown in sales volumes. Demand primarily focused on sites with full planning permission, but it was hampered by elevated construction and finance costs. While market activity levels are expected to improve in late 2023 or early into 2024, caution from funders may continue to impact debt-funded purchases. The outlook for the market remains uncertain due to delays and other issues in the planning system.