Q3 2025 Market Update
As Q3 2025 closes, our transactional data paints a mixed picture of Dublin’s prime residential market. Prices continued to rise, with our selling prices averaging nearly 10% above asking prices. However, a sharp rise in fall-throughs was experienced and a slowdown in rental agreements all point to shifting market dynamics as we head towards the end of the year.
Sales Market: A Seller’s Market but A Rise in Fall-Throughs
92% of our listings were agreed above asking, with an average sale price of €626,271—9.9% above our asking prices (€568,333) and up slightly from + 9.7% in Q2. Sellers continued to benefit from tight supply and strong demand, particularly from first-time buyers and for turn-key family homes. However, the fall-through rate rose to 28%, up from just 5% a year ago—reflecting increased buyer caution and, in some cases, buyer remorse after intense bidding in Q2. Encouragingly, half of these deals have since been re-agreed.
Who’s Buying—and Who’s Selling
Owner-occupiers dominated again, making up 92% of our buyers, led by first-time in the sub-€500k bracket, where homes sold in just 3.8 weeks on average. Our typical buyer is Irish, 36 years old, and mortgage-backed, though cash buyers still accounted for nearly a third of our transactions.
Investor activity picked up slightly from Q2 but remained low overall at just 8% of buyers. On the selling side, landlords continued to lead at 69%, extending the ongoing trend of investor exits. This structural shift highlights the continued pressure on the rental sector, as RPZ regulation changes dampen investor confidence. We have noticed a big increase in enquiries from American buyers relocating to Dublin. We expect them to have an influence on the prime Dublin market going forward.
Lettings: Reduction in transactions as supply tightens
Our average rent held steady at €2,755 in Q3 2025, virtually unchanged from €2,730 a year ago. However, agreed lets fell by 28% year-on-year, reflecting tighter supply and more selective demand.
Tech professionals accounted for 35% of tenants, with an average age of 36 and typical salary around €70,000. Notably, Irish tenants made up nearly half of our tenants—the highest proportion we’ve seen.
Looking Ahead
As we enter the final months of 2025, the sales market remains favourable for sellers, but accurate pricing will be key, especially at the upper end of the market and for properties requiring renovation. Houses in turn-key condition in established neighbourhoods will continue to sell very well. In the rental market more landlords are selling than investing, construction of new ‘build to rent’ developments stopped more than two years ago. Expect the crisis to get worse before it gets better! Government policy and broader economic trends will play a pivotal role in shaping the outlook for 2026.
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