Q3 2025 Market Update: A Market of Contrasts
As Q3 2025 draws to a close, Owen Reilly’s latest transactional data reveals a market of contrasts. While sales prices continue to outperform expectations, we’re also seeing a rise in fall-throughs and buyer caution. The rental market remains constrained by tight supply and shifting tenant demographics as we move into the final quarter of the year.
Sales Market: Prices Still Rising, But More Deals Falling Through
Our average selling price in Q3 reached €626,271, which is 9.9% above the average asking price of €568,333—slightly higher than the +9.7% achieved in Q2. This continues to highlight the competitive nature of Dublin’s prime residential market, especially for turn-key homes and well-located apartments.
However, beneath the headline growth lies a new reality: the fall-through rate rose to 28%, up from just 5% a year ago. In many cases, this reflects buyer fatigue and remorse following intense bidding earlier in the year. Encouragingly, around half of those sales have since been re-agreed, showing that demand remains resilient despite greater caution.
Who’s Buying—and Who’s Selling
Owner-occupiers dominated once again, making up 92% of buyers, driven largely by first-time purchasers in the sub-€500,000 bracket. Homes at this level sold in just 3.8 weeks on average, underlining the strength of demand for accessible, quality housing.
Our typical buyer this quarter was 36 years old, Irish, and mortgage-backed, though cash buyers still accounted for nearly a third of all transactions.
Investor activity picked up slightly from Q2 but remained subdued at just 8% of buyers, while landlords made up 69% of sellers—a continuation of the trend of investor exits. The effects of RPZ regulation changes and limited rental yield growth are still pushing small landlords out of the market.
We also noted a sharp rise in enquiries from American buyers relocating to Dublin, particularly within the tech and finance sectors. This emerging cohort is expected to influence the upper end of the Dublin market in 2026.
Lettings: Lower Volumes, Steady Rents
The average rent across our portfolio in Q3 was €2,755, virtually unchanged from €2,730 a year ago. However, agreed lets fell by 28% year-on-year, reflecting tighter supply and more selective tenant demand.
Tech professionals continued to represent the largest tenant segment, making up 35% of our tenants, with an average age of 36 and average salary of around €70,000. Notably, Irish tenants now account for nearly half of all leases agreed—the highest proportion we have recorded in recent years.
This points to a subtle shift in rental demographics as more Irish professionals choose to rent longer-term, citing affordability pressures and a lack of suitable homes to buy.
Looking Ahead
As we move into the final quarter of 2025, Dublin’s property market remains resilient but increasingly complex.
For sellers, accurate pricing and presentation will be essential to maintain momentum, especially for homes requiring renovation or in less-established locations. Turn-key family homes and high-quality apartments in desirable neighbourhoods will continue to attract multiple bidders.
For landlords, the environment remains challenging. With more investors selling than buying and no new ‘build-to-rent’ schemes commencing in over two years, supply is expected to tighten further. The imbalance between demand and available stock will likely worsen before improving.
In Summary
Q3 2025 underscores a Dublin market defined by high demand, limited supply, and cautious confidence. Sellers still hold the advantage, but success increasingly depends on strategic pricing and expert negotiation. The rental crisis remains acute, with structural issues continuing to drive the narrative into 2026.
At Owen Reilly, we combine data-driven insights with deep market expertise to help our clients make confident property decisions. Our team continues to lead the Dublin market in innovative marketing, negotiation, and client service.
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