Ireland Property Market Weekly Review: Cooling Residential Demand, Apartment Delivery and a Selective Dublin Office Recovery

Market window: 2–9 November 2026. Ireland’s property market is sending a more nuanced message than a simple “prices up” or “prices down” headline. Residential price growth is moderating, second-hand sales have softened under higher borrowing costs, and energy efficiency is commanding a meaningful premium. At the same time, the State is backing new Grade A office development in Dublin, while the supply debate is increasingly focused on apartments, vacant buildings and the future of short-term letting.

This weekly review brings together the most significant Irish residential, rental, policy and commercial-property developments identified during the period. It is written from the perspective of Casey Kennedy Estate Agents, with practical implications for homeowners, sellers, landlords, investors and commercial property owners across Dublin and the commuter belt.

The week in one view

Residential market: prices are still rising, but the pace is easing

The latest official CSO data available before this week showed national residential prices rising by 5.1% in the year to August 2026. Dublin recorded lower annual growth of 3.9%, while prices outside Dublin increased by 6.2%. The median price paid nationally over the preceding twelve months was €400,000; the median was €500,000 in Dublin and €685,000 in Dún Laoghaire-Rathdown. CSO price data

The direction is important for sellers. This is not a market in which every property automatically attracts multiple strong bids regardless of condition or pricing. The broad numbers remain positive, but the gap between a correctly positioned home and an over-priced or poorly presented home is likely to widen as affordability becomes more binding.

For buyers, the figures confirm that waiting for a dramatic national correction is not a complete strategy. Dublin’s growth is slower than the national figure, but the city remains expensive, with the CSO reporting a median Dublin price of €500,000 and a median of €685,000 in Dún Laoghaire-Rathdown. Purchasers need to distinguish between headline market growth and the price of the particular home, street and school catchment they are targeting.

Second-hand homes: the most important signal for local agents

A report from property technology firm Geowox, covered by The Irish Times, found that sales of existing homes fell 2.2% in the third quarter of 2026. New-home sales rose 9.4%, leaving total sales 0.3% higher than in the same quarter of 2025.

The report recorded 14,787 home sales between July and September, including 3,432 new homes. The national median price was €406,000, up 5.2% year on year. Dublin’s median was €550,000, while the median outside Dublin was €360,000. The combination of falling second-hand volumes and continued price growth points to constrained supply meeting cautious demand, rather than a straightforward collapse in buyer interest.

For vendors, the practical lesson is clear: a home should be launched with a defensible asking price, professional preparation and a plan for managing early interest. In a slower market, the first two weeks can be more consequential than they were during the most competitive phase of the cycle.

Energy efficiency is becoming a value issue, not just a compliance issue

One of the strongest findings in the Geowox report was the premium associated with energy performance. Excluding new homes, properties with an A or B BER achieved a median sale price of €466,000, compared with €370,000 for homes rated C–G. That is a difference of €96,000, or approximately 25.9%. The figure is a market-wide comparison and should not be treated as a guaranteed valuation uplift for every individual property.

Nevertheless, the direction is commercially significant. Buyers are increasingly assessing mortgage affordability alongside heating costs, retrofit risk, insulation, windows and future energy requirements. Owners preparing to sell should gather BER documentation early, identify credible retrofit improvements and make running-cost advantages easy for buyers to understand.

For landlords and investors, energy performance also affects tenant appeal, future capital expenditure and the resilience of rental demand. A property that is cheaper to heat and easier to finance may compete more effectively even where its headline rent is not the lowest.

Housing supply: the apartment question has moved to centre stage

On 3 November, Cairn Homes chief executive Michael Stanley told the Oireachtas housing committee that Ireland has “little chance” of reaching 50,000–60,000 annual completions unless apartments account for approximately half of new homes. The Irish Times report said Cairn expects close to 40,000 new homes to be completed in 2026, with output in 2027 likely to exceed that level.

The challenge is not simply land availability. The report highlighted apartment construction costs, planning constraints and the difficulty of achieving a viable exit through sales to individual owners or investors. Cairn said that approximately 25,000–30,000 apartments a year may be needed if total output is to rise to 50,000–60,000 homes.

This matters to Dublin and the commuter belt because apartment supply influences more than first-time buyers. It affects rental availability, investor demand, urban density, transport use and the ability of older homeowners to downsize locally. If apartment delivery remains constrained, family houses may continue to carry disproportionate pressure from households who would otherwise choose an apartment.

Short-term letting: a compliance deadline is approaching

The Government’s short-term letting framework remains one of the most relevant policy developments for landlords and property investors. The Department of Enterprise, Tourism and Employment says the national register will open on 1 December 2026. Hosts offering accommodation for stays of up to 21 nights must register with Fáilte Ireland by 31 December 2026 and display a registration number on advertisements and listings. Department guidance

Additional planning requirements apply in larger towns and cities. The Government’s guidance states that short-term accommodation providers in towns with populations above 20,000 will need to confirm planning compliance when registering, while providers in smaller towns have a two-year period from 23 October 2026 to meet national planning requirements. Planning guidance

The policy debate intensified this week. An Irish Times editorial argued that the proposed system may return fewer homes to long-term use than originally anticipated, citing differing estimates from housing bodies and the effect of exemptions for smaller towns. That is an opinion rather than an official forecast, but it illustrates the uncertainty facing owners whose properties sit between tourism and residential use.

Landlords should not assume that registration alone resolves planning, fire-safety or tenancy questions. Owners considering a move from short-term to long-term letting should review yield, taxation, furnishing, compliance, insurance and management requirements before making the change.

Commercial property: capital is returning, but quality and location are decisive

The week’s clearest commercial-property announcement was the commitment of €100 million by the Ireland Strategic Investment Fund to IPUT’s development of 29 Earlsfort Terrace in Dublin 2. The project forms part of IPUT’s planned €500 million premium-office pipeline. IPUT said it had raised more than €400 million in new equity during 2026 and secured €300 million in new revolving credit facilities. Commercial property coverage

The proposed scheme is expected to add Grade A office space at a central Dublin location. IPUT’s reported commercial portfolio is valued at €2.7 billion and includes more than two million square feet of office space across 30 city-centre assets.

This is a positive signal for institutional confidence, but it should not be confused with a broad recovery across every office category. Earlier analysis in The Irish Times noted that Dublin office vacancy estimates varied materially and that remote working and changing employment patterns were affecting demand. The implication for owners is that sustainable, well-located, flexible and amenity-rich buildings are likely to outperform secondary stock.

For commercial landlords, investment decisions should therefore focus on tenant quality, lease expiry, building specification, energy performance, refurbishment requirements and adaptability. For investors, income security and realistic exit assumptions matter more than relying on a general “Dublin office recovery” narrative.

What this means for sellers, landlords and investors

• Home sellers: use current comparable evidence rather than relying solely on last year’s headlines. A sharper launch price, strong photography, clear documentation and early feedback can protect momentum.
• Owners of older homes: review BER, heating systems and likely retrofit questions before going to market. Energy information is increasingly part of the value conversation.
• Landlords: test long-term rental economics against short-term income after allowing for vacancy, management, furnishing, compliance and regulatory risk.
• Investors: prioritise assets with durable demand, credible tenants, strong locations and manageable capital expenditure. The office market is becoming more selective, not uniformly stronger.
• Apartment owners and OMCs: maintain clear records on service charges, sinking funds, fire-safety works and building management. Buyers and lenders are paying close attention to the quality of apartment governance.
• Commuter-belt buyers: compare the full cost of ownership, including transport and energy, rather than focusing only on the purchase price.

Our Casey Kennedy view

Ireland’s market is moving into a more analytical phase. Prices remain elevated and generally higher than a year ago, but affordability, finance and property quality are exerting greater influence on outcomes. Residential sellers need accurate local advice; landlords need to understand the changing regulatory and operating environment; and investors need to separate prime, adaptable assets from properties that require optimistic assumptions.

At Casey Kennedy Estate Agents, we have been advising clients since 1985 from our original base in Stillorgan, with coverage now extending across Dublin and the commuter belt. Our services include residential sales, lettings, property management, block and OMC management, commercial and residential rent reviews, and Bluebook valuations.

Whether you are considering a sale, reviewing a rental strategy or assessing an investment, our residential sales team can help with pricing, presentation, targeted marketing, negotiation and local market evidence.

Speak with Casey Kennedy Estate Agents about your property, landlord or investment plans.

Sources and methodology

This article reviews property-related reporting and official material published or updated during the week of 2–9 November 2026, together with the latest official datasets available during that period. Key sources include the Central Statistics Office, The Irish Times’ Geowox report, Cairn Homes coverage, the Department of Enterprise, Tourism and Employment, the Government’s planning guidance, the Irish Times editorial on short-term letting, and reporting on the IPUT–ISIF office investment. Figures are presented as reported by those sources and may be revised as additional official data becomes available.