Over €920m (£669m) of Irish investment property was sold in the first quarter of 2015, according to research from JLL.
Overall, 95% of transactions were for Dublin assets and 93% of total volumes were for the offices sector, followed by 4% retail and 2% mixed use.
Overseas investor activity dominated the market in the first quarter, accounting for 80% of total volumes. The top three deals were made by overseas purchasers, totalling €675m.
Total volumes were boosted by two large portfolio sales of more than €200m, including the sale of a Dublin office portfolio to Starwood for €350m, first revealed by Estates Gazette.
The second-largest transaction was the sale of trophy NAMA assets Block 4 and 5 Grand Canal Square, Dublin, which sold for €233m.
Hannah Dwyer, head of research at JLL, said: “Whereas 2014 was the year of the portfolio sale, Q1 has only seen two large portfolio transactions, with the rest of activity dominated by single asset sales.
“We do, however, expect this to change in the next three quarters with a number of portfolios due for release.”
