The Key Trends Shaping Ireland's Property Market in 2026
Michael Gavin
The Irish property market has remained resilient throughout 2026. While global economic uncertainty, inflationary pressures and geopolitical events have created a cautious investment environment, the fundamentals of the Irish market remain strong. A persistent shortage of housing, strong employment levels and continued inward investment have underpinned demand across both residential and commercial property.
At Onate, we continue to work closely with borrowers, brokers and developers across Ireland and have seen first-hand how the market is adapting. While the challenges facing the sector have evolved, so too have the opportunities. Investors are increasingly focused on securing flexible funding and moving quickly when opportunities arise.
Reflecting improving market conditions, Onate has reduced rates across both its bridging and term lending products several times during 2026.Bridging finance is now available from a fixed rate of 0.75% per month, while our five-year term lending product is priced at less than 5% over Euribor.
Several clear themes have emerged across the market this year. Greater certainty around interest rates is helping to restore confidence, refurbishment and office-to-residential conversions are creating new opportunities, alternative lenders continue to play an increasingly significant role in funding projects, and bridging finance is being used in a wider range of transactions than ever before. Together, these trends are shaping how investors, developers and borrowers are approaching the market in 2026.
Interest Rates
Interest rates have remained one of the defining themes for the property market over the past two years.
Following the significant tightening cycle experienced across Europe, the market is now operating in a more stable interest rate environment. While borrowing costs remain above the exceptionally low levels seen during the previous decade, increased certainty around future monetary policy has helped improve confidence among investors and developers.
Rather than focusing solely on the headline cost of debt, borrowers are increasingly prioritising certainty of funding, flexibility and speed of execution.
Transactions that may have previously relied solely on traditional bank finance are now frequently incorporating specialist lenders who can provide tailored solutions for more complex scenarios or tighter acquisition timelines.
Refurbishment Activity & Office-to-Residential Conversions (S.I. No. 75)
One of the most encouraging trends we continue to see is the growing emphasis on refurbishment and asset repositioning.
With development land becoming increasingly scarce and planning processes remaining lengthy, investors are placing greater focus on extracting value from existing buildings.
Recent planning reforms, including the introduction of S.I. No. 75, have provided further momentum for office-to-residential conversions. By streamlining certain planning exemptions, these changes have the potential to unlock underutilised office stock and contribute to much-needed housing supply.
Whilst not every office building is suitable for residential conversion, many well-located assets present compelling opportunities where thoughtful refurbishment can deliver attractive returns while simultaneously increasing housing availability.
We expect refurbishment-led investment strategies to remain a key feature of the Irish property market over the coming years.
Alternative Lenders Continue to Fill Funding Gaps
Although Ireland's pillar banks remain an important source of funding, many transactions fall outside conventional lending criteria due to timing, asset type or transaction complexity.
Alternative lenders have become an increasingly important part of the property finance ecosystem, offering borrowers greater flexibility and providing funding solutions where traditional lenders may be unable to assist.
Whether funding acquisitions, refinancing existing facilities, financing refurbishment works or supporting planning-led opportunities, specialist lenders are helping to ensure that viable projects continue to progress.
Importantly, alternative finance is no longer viewed as a lender of last resort. Increasingly, experienced investors are deliberately incorporating specialist lenders into their capital strategy because of the certainty, responsiveness and flexibility they provide.
Bridge Finance Trends
Bridge finance has continued to play an increasingly important role within the Irish property market.
Historically associated primarily with auction purchases and short-term acquisitions, bridging facilities are now supporting a much broader range of transactions.
Some of the most common uses we continue to see include:
Property acquisitions requiring rapid completion
Refinance of existing debt ahead of long-term funding
Refurbishment and value-add projects
Planning gain strategies
Office-to-residential conversion projects
Development exit finance.
As opportunities increasingly require speed and certainty, borrowers are recognising the value of having funding partners capable of making commercial decisions efficiently while understanding the underlying property strategy.
Bridging finance has become an essential component of many investors' funding structures, allowing them to move quickly when opportunities arise while retaining the flexibility to refinance onto longer-term facilities once projects have stabilised.
Outlook for the Remainder of 2026
While market conditions continue to evolve, the underlying drivers of the Irish property market remain positive. Investors who are well prepared, have access to flexible finance and can move quickly are likely to be best positioned to capitalise on emerging opportunities.
At Onate, we're committed to supporting borrowers, brokers and developers with funding solutions that provide the speed, certainty and flexibility needed to help projects move forward with confidence.
To find out more about our bridging and equity release solutions, get in touch with our team - (01) 697 2588 / hello@onate.com