Ireland's development land market generated €105.1 million in sales during the third quarter, with 17 sites changing hands, according to a new report by property advisor Savills Ireland.

The largest transaction of the quarter was the €25.6 million sale of 8.4 acres at Dairygold’s former Cork Milk Producers (CMP) site on the Kinsale Road in Cork, acquired by Cairn Homes. It marked the first time since Q2 2023 that the highest-value quarterly land sale occurred outside Dublin, and the second time in that period it has taken place in Cork.

The site, which has full planning permission for 606 residential units and several commercial spaces, is expected to commence development in Q4 2025. The completed scheme will be delivered to approved housing body Respond, to operate under a social and cost-rental model.

Market activity remained robust nationwide, with the average deal size reaching €6.2 million. The average price per acre also rose 17% year-on-year to €410,800.

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Notably, 41% of all sites sold during the quarter came with planning permission — a sharp increase from 12% in Q2 — signalling improving market confidence and a return to longer-term norms.

Residential land dominated transactions, accounting for 77% of sales, well above the five-year average of 66%. Mixed-use sites made up 14% of sales. While Dublin retained the greatest share of overall spend at €54.4 million (67% of the market), Cork’s standout performance highlighted its increasing prominence.

Peter O'Meara, Director of Savills Cork, said the Dairygold sale represented a significant moment for the region:

"The Dairygold site sale represents a milestone for Cork’s development land market and demonstrates the city's increasing draw for major residential investment. The scale and location of the CMP site make it one of Cork’s most significant housing-led regeneration opportunities in recent years."

Savills said interest in Cork continues to grow, with increasing participation from Dublin-based developers. Larger sites with full planning permission (FPP) are particularly sought-after, with scale now a core priority for buyers.

Although deal volumes have slowed compared to recent years, the total value of transactions has risen, reflecting a shift towards higher-quality, strategically important assets.

Savills also noted a rise in conditional deals and joint venture (JV) partnerships, driven by a more cautious funding landscape. The firm expects this trend to continue into 2026, with multiple conditional agreements currently under negotiation.

Future supply could increase further as Cork City and County Councils assess re-zoning submissions under the Section 28 planning guidelines introduced in July 2025. If adopted, the changes could unlock significant new development land across both the city and county.