In 2022, the total of 63,544 dwelling purchases at market prices were filed with the Revenue Commissioners, with a value of €22.5 billion. Of these, 13,519 purchases were made by non-household entities, an increase of 15.1% on the 11,749 purchases made by them in 2021. The total value of the purchases by non-household entities in 2022 was €4.6 billion, an increase of 31.8% on the 2021 value.
In contrast, the non-household entities sold 20,668 dwellings at market prices in 2022, an increase of 19.7% on the 17,268 dwellings sold by them in 2021. The total value of sales by non-household entities in 2022 amounted to €7.6 billion, an increase of 32.6% on the 2021 value of €5.8 billion. See Figure 4.1.
Non-household entities belonging to NACE sector K: Financial & Insurance (banks, trusts, funds, holding companies etc.) purchased residential dwellings with a total value of €1,562.6 million in 2022, more than in any other NACE sector. Purchases of dwellings by entities in the NACE section O,P,Q: Public/Education/Human Health/Social Work were the second largest, with a value of €1334.3 million*. See Table 4.2A
*It should be noted that the aggregate of NACE sections O, P, Q is a broad grouping. It includes transactions involving state or semi-state agencies, such as those made by local authorities and Approved Housing Bodies. However, it also covers all other transactions of residential properties made by public institutions, as well as purchases and sales made by private companies within the education and health sectors.
Non-household entities in the NACE section F: Construction were the most active vendors in 2022, selling residential properties with a value of €4.7 billion. Sales of dwellings by entities in the NACE section K: Financial and Insurance were the second largest, with a value of €1.2 billion. See Table 4.2B.
In 2022 Irish registered companies and institutions accounted for €4.3 billion (92.3%) of the €4.6 billion spent on dwellings by the non-household sector. Purchases by companies with a Northern Ireland address accounted for €7.2 million, €20.6 million was spent by the companies with a Great Britain address and €12.4 million by companies with a British Crown Dependency address, while €316.7 million was spent by companies with addresses in other parts of the world. See Table 4.3A.
Companies and institutions with registered address outside of Ireland spent €356.9 million on purchases of residential dwellings, a decrease of 36.8% on the €564.3 million spent in 2021. Of these, entities with addresses in Northern Ireland, Great Britain and British Crown dependencies accounted for 2%, 5.8% and 3.5% of the expenditure, respectively, while the bulk of purchases (88.7%) were made by the companies with addresses in other parts of the world. See Figure 4.3.
| % | |
| Northern Ireland | 2 |
| Great Britain | 5.8 |
| British Crown Dependencies | 3.5 |
| Other Europe | 83.7 |
| North America | 4.4 |
| Other | 0.6 |
In 2022, Irish registered companies and institutions accounted for just under €7.4 billion (97.6%) of the value of all dwellings sold by the non-household sector. Europe (excluding Ireland, the United Kingdom and British Crown Dependencies) accounted for just €14.8 million (0.2%) and companies and institutions registered outside of Europe accounted for €6 million (0.1%) of sales. See Table 4.3B.
The Household and Non-Household sectors of the residential property market interact and overlap to a significant degree. Each dwelling transaction involves two parties, the buyer and the seller. A household may sell to another household or to the Non-Household Sector. Conversely, a non-household company or institution may sell to the Household Sector or to another company or institution. Net inter-sectoral flows can be established to show the overall direction of the flow of dwellings (in volume or value terms). For example, the net value flow represents the overall transfer of money from the Household to the Non-Household sector in the residential property market.
In 2022 non-household entities sold dwellings valued at €4.3 billion to the households, whereas sales within its own sector amounted to just €3.3 billion. In contrast, households sold predominately to other households, with the intra-household market accounting for €13.6 billion of dwelling sales, and sales to the non-household sector accounting for just €1.3 billion. On balance, this represented a net monetary flow of €3 billion to the non-household sector. See Table 4.4.
| Table 4.4: Value of market residential dwelling sales filed with Revenue by Sectoral Flow, 2016-2022 | (€ million) | |||||||||
| Year | Sales by Households | Sales by Non-Households | All Sales (A+B+C+D) | Net Non-Household Sales (C-B) | ||||||
| Sales to Households (A) | Sales to Non-Households (B) | Total (A+B) | Sales to Households (C) | Sales to Non-Households (D) | Total (C+D) | |||||
| 2016 | 7,655.9 | 735.3 | 8,391.2 | 2,277.7 | 625.2 | 2,902.9 | 11,294.2 | 1,542.4 | ||
| 2017 | 8,751.4 | 804.6 | 9,556.0 | 3,041.3 | 1,274.1 | 4,315.4 | 13,871.4 | 2,236.7 | ||
| 2018 | 9,316.7 | 1,100.7 | 10,417.4 | 3,629.2 | 1,296.0 | 4,925.3 | 15,342.7 | 2,528.5 | ||
| 2019 | 9,806.5 | 1,129.2 | 10,935.7 | 3,582.2 | 2,345.8 | 5,928.1 | 16,863.8 | 2,453.0 | ||
| 2020 | 8,230.4 | 1,055.7 | 9,286.1 | 3,059.9 | 2,440.6 | 5,500.6 | 14,786.7 | 2,004.2 | ||
| 2021 | 11,684.5 | 1,220.7 | 12,905.3 | 3,469.3 | 2,281.2 | 5,750.5 | 18,655.7 | 2,248.5 | ||
| 2022 | 13,558.0 | 1,288.2 | 14,846.2 | 4,298.8 | 3,327.4 | 7,626.2 | 22,472.3 | 3,010.6 | ||
In each year represented in the table a net flow of money was directed to the non-household sector, with the value of the flow being at its lowest in 2016 at just €1.5 billion.
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