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The SCSI has released its Commercial Property Market Monitor Mid-Year Review and Outlook, providing a detailed snapshot of occupier and investor sentiment across Ireland’s office, industrial, and retail sectors. The findings point to a market in early recovery, with industrial assets continuing to lead, prime offices showing steady improvement, and retail stabilising in prime locations despite ongoing challenges in secondary assets.

Key Findings

• Occupier demand:
  • Overall occupier demand index: +13% net balance (down slightly from +17% in Q4 2024 but well above 2023 levels)
  • Industrial: sustained growth at +15%
  • Offices: steady recovery at +15%
  • Retail: softened to +10% but remains in growth phase
• Investor sentiment:
  • Flat at 0% net balance in Q2 2025 (down from +5% in Q4 2024), highlighting ongoing caution
  • Industrial remains the strongest performer; office and retail investment subdued
• Capital & rental values (12-month outlook):
  • Prime Industrial: +2.5% capital, +2.5% rental
  • Prime Office: +2.1% capital, +2.6% rental
  • Prime Retail: +1.0% capital, +1.8% rental
• Valuations & credit conditions:
  • 57% of surveyors now view the market as “fair value” (up from just 11% in 2023)
  • Credit conditions have eased since 2023, supporting cautious recovery
• Occupier trends:
  • 86% of surveyors say tenants increasingly demand health, well-being and sustainability features
  • 68% believe occupiers are willing to pay a premium for such facilities
  • Many businesses are expected to reduce office footprints but consolidate into prime, well-located offices

The SCSI Monitor is based on responses from Chartered Surveyors nationwide and provides an independent barometer of market sentiment. It highlights a commercial property sector at a turning point, with selective growth, ongoing polarisation between prime and secondary assets, and sustainability priorities driving future demand.

The Society of Chartered Surveyors Ireland Mid-Year Commercial Property Review and Outlook Report 2025

Report indicates market is entering a transitional phase, characterised by signs of recovery alongside persistent structural challenges.

The key findings: 

• Overall capital value and rental expectations for all prime commercial property asset types show positive outlook for the next 12 months 
• Chartered Commercial Surveyors expect prime industrial values and rents to rise by an average of 2.5% nationally
• Prime office capital values and rents are expected to increase by 2.1% and 2.6% respectively
• Prime retail capital values are expected to rise by 1.0% and rents by 1.8% on average
• 51% of survey participants believe the market to be in some stage of recovery while 57% believe current valuations represent fair value  
• Almost two thirds of agents believe businesses plan to optimise their office footprint
• A similar number believe occupiers are prepared to pay for enhanced health and well-being features

Thursday, August 28th 2025: Occupier sentiment in commercial property has continued to improve over the first half of 2025, with chartered commercial and valuation surveyors predicting a rise in rents and capital values across prime commercial property asset types over the next 12 months.  

As has been the case in recent years, both prime and secondary industrial properties continue to be the standout performers, driven by high demand for logistics and distribution spaces. 

The Society of Chartered Surveyors Ireland Mid-Year Commercial Property Review and Outlook Report 2025 predicts that national average capital values and rents for prime industrial will rise by 2.5% over the next 12 months. 

Chartered commercial and valuation surveyors expect prime office capital values and rents to increase by 2.1% and 2.6% respectively, while they believe prime retail capital values will increase by 1.0% and rental values by 1.8% on average. 

The President of the SCSI, Gerard O’Toole, said that while the market is continuing to face structural headwinds, it is showing tentative signs of stabilisation and improvement. 

“We are seeing resilience in key areas particularly in the industrial segment, where demand remains robust, and in prime office and retail assets where quality and location are driving selective growth.” 

“Of course, challenges remain. These include subdued investor activity due to ongoing global uncertainty, changing work patterns and evolving consumer behaviour. However, the overall sentiment is one of measured confidence.” 

Two years ago in the corresponding survey, a majority of respondents, 61%, viewed the market as expensive or very expensive. In this survey, that figure dropped to 31% while the proportion viewing valuations as fair value increased to 57%. 

In addition, 51% of respondents perceive the market to be in some stage of recovery or upswing, with 33% identifying early recovery and 18% mid-upturn. 

Mr O’Toole said these findings suggest that sentiment has shifted towards cautious optimism with most participants anticipating further recovery rather than renewed decline. 

“Combined with previous sentiments of more stable credit conditions and valuations being viewed as closer to fair value, the market appears to be in an early recovery phase, with potential for continued capital appreciation alongside moderate rental growth.” 

“While the recently finalised US/EU trade deal has removed a significant source of international uncertainty, questions remain over the long-term implementation and impact of the agreement.” 

Sectoral Analysis

For prime industrial properties, 50% of surveyors expect the capital value to increase and 51% anticipate an increase in rental values while the number forecasting, they will remain the same are 40% and 44% respectively. 

In contrast, for secondary industrial properties, only 34% expect capital values to increase, and 42% expect rental prices to rise. However, a significant portion, 57% for capital and 44% for rental, respectively, expect prices to remain the same. 

Fifty-four percent of surveyors expect that the capital value of prime offices will increase, while 33% expect it to remain the same. In terms of rent for the prime office, 56% of surveyors anticipate an increase, whereas 34% expect the rent to stay the same.  

Regarding secondary offices, only 14% of surveyors expect the capital value to rise, while the number forecasting a rise in rent is just 21%, with 81% anticipating that rental prices will stay the same or decrease. While 47% expect capital values to remain the same, 39% believe they will fall. The respective figures for rent are 42% and 37%. 

For prime retail spaces, 34% of surveyors expect capital values to increase over the next 12 months, while 48% anticipate an increase in rental values. However, a majority, 59% for capital and 45% for rental, believe these values will remain the same.  

In contrast, for secondary retail spaces, just 16% of surveyors expect capital values to increase, 52% believe they will remain unchanged and 32% believe they will decrease. The corresponding figures for rents are 18%, 57% and 25%. 

Commentary

Bernadine Hogan, chair of the Commercial Agency Committee, said the findings underscore the industrial sector’s dominance in current market dynamics, steady but cautious progress in offices and continued stabilisation in retail. 

“Industrial continues to lead the way, although the sentiment towards secondary industrial assets is more restrained. The office sector also exhibits overall growth reflecting ongoing recovery in prime office markets despite challenges in secondary spaces where sentiment is notably weaker.” 

“By contrast, according to the survey, retail continues to show a varied performance. While prime retail locations remain relatively stable and are experiencing modest growth as they adapt to evolving consumer habits and demand, secondary more regional assets are facing ongoing challenges.  

Ms Hogan noted that chartered surveyors identified strong growth prospects in sectors focused on essential services and residential development, while the hospitality sector was described as comparatively subdued.

“Student housing stands out with the highest projections, anticipating rental growth of 4.5% and capital value appreciation of 4.9%, driven by strong demand and constrained supply.”

“Aged care facilities also exhibit strong fundamentals, with rental growth projected at 4% and capital values rising by 4.4%, reflecting demographic trends and the need for specialised care assets.”

“Hotels are forecasted to have the most modest growth, with rental increases of just 1.9% and capital values slightly lower at 2.1%, indicating a cautious recovery in the hospitality sector.” 

Future Trends

The survey findings indicate that a substantial proportion of businesses are likely to optimise their office real estate footprint over the next two years. Almost two-thirds of agents believe businesses’ may scale back their office footprint slightly while 36% do not anticipate any reduction. 

Ms Hogan believes these findings reflect a move towards modern, higher quality and more sustainable offices. 

“Occupiers seeking to reduce space are likely to consolidate into higher-quality, well-located offices, thereby exerting additional pressure on secondary properties facing weaker demand. “ 

A substantial majority (86%) of chartered surveyors believe that tenants will increasingly demand enhanced health and well-being features in the real estate they occupy going forward, with 68% expecting that occupiers will be prepared to pay a premium for such facilities.  

Ms Hogan said it’s clear the emphasis going forward will be on enhanced facilities and sustainability. 

“In a market characterised by a national commercial vacancy rate of 14.5%, tenants are in a strong negotiating position. As such, assets offering amenities such as fitness and outdoor spaces, strong sustainability credentials, and adaptable layouts are likely to command a more competitive position.” 

 For media queries please call the SCSI at (01) 6445500 and ask for Patrick King.

Note to Editor 

The SCSI Mid-Year Commercial Property Review and Outlook Report 2025 is informed by surveys completed in June/July 2025 by Chartered Commercial and Valuation Surveyors. The report provides net balance index charts illustrating surveyor sentiment on market trends. Net balance is calculated by taking the total number of “increase” responses from “decrease” responses and displaying the result. The index charts provided are unweighted composite measures capturing overall market momentum, encompassing variables on supply, demand, and expectations. A total of 100 responses informed the latest figures within this report.

The SCSI has published its latest Tender Price Index (TPI), reporting a 1.5% increase in commercial construction tender prices in the first half of 2025. This marks the third consecutive period of modest growth at the same rate, following similar increases in both halves of 2024.

While overall inflationary pressures have moderated, rising labour costs and continuing skills shortages remain the key drivers of tender price movements. Geopolitical uncertainty and potential supply chain disruptions also continue to influence market sentiment.

Key Findings

• National trend: +1.5% in 1H 2025 (same as 2H 2024 and 1H 2024)
• Regional changes:
  • Dublin: +1.0%
  • Leinster excl. Dublin: +0.5%
  • Munster: +2.0%
  • Connacht/Ulster: +2.0%
• Surveyor insights:
  • Two-thirds of respondents reported tender price increases in 1H 2025
  • Half believe building material costs are at mid-upswing or peak levels
• Market pressures: Labour shortages and cost inflation remain the most significant factors impacting prices

The SCSI TPI provides the only independent assessment of commercial construction tender prices in Ireland, based on survey data from Chartered Quantity Surveyors nationwide. It applies to commercial new-build projects valued above €1m and should be used as a guide only.

• Commercial construction tender prices increased by 1.5% in the first half of 2025

• National rate of commercial construction inflation is now running at 3% per annum

• SCSI urges Government to avail of stable rates and to accelerate investment in key economic infrastructure under the National Development Plan

Thursday 21^st August 2025: A new report by the Society of Chartered Surveyors Ireland (SCSI) shows that while commercial construction costs are continuing to rise, the rate of increase has remained relatively stable over the past two years.

The latest Tender Price Index (TPI) published by the SCSI shows the median rate of commercial construction inflation increased nationally by 1.5% in the first half of 2025, the same rate as the three preceding six-month periods.

According to the SCSI’s Tender Price Index, (TPI) which is the only independent assessment of commercial construction tender prices in Ireland, the annual median national rate of inflation for the past 12 months was 3%.

The report indicates some variation across the regions over the last six months with the highest median rate of inflation of 2% recorded in Munster and Connacht / Ulster. In Dublin the figure was 1% while Leinster (Excl Dublin) had the lowest rate of increase at 0.5%.

Fig 1. Construction Tender Prices 1998 – 2025 Research for the latest edition of this sentiment survey, which is based on responses from Chartered Quantity Surveyors from all around the country, working on commercial projects, was conducted in July and August 2025.

Analysis

The Vice President of the SCSI, Tomás Kelly described the continuing moderation in the rate of increase over the past two years as a welcome development.

“The reduction in the rate of increase which we’ve seen over the last couple of years is due in the main to reduced supply chain disruption and price volatility for construction materials. The relative stability we’ve seen over the last couple of years is in marked contrast to the 2021 / 2022 period when tender price inflation increased significantly. However, while overall inflationary pressures have moderated, ongoing geopolitical uncertainty, over conflicts and the potential introduction of reciprocal tariffs between the US and the European Union have the capacity to cause fresh supply chain disruption.”

“While we believe tender prices will continue to edge higher in the second half of 2025, given global uncertainty it is very difficult to predict if the moderate rates we have seen over the past two / two and a half years will continue. While it’s true that fears of a tariff war may be receding at the moment, that may change.”

Impact of Labour Shortages

Among other challenges identified were access to labour, with surveyors highlighting continuing labour shortages and constraints, as well as the inflation of labour prices. While overall inflationary pressures have moderated, feedback from quantity surveyors indicates that labour-related costs continue to influence tender pricing across certain projects.

National Development Plan

Mr Kelly reiterated the SCSI’s call on the Government to invest in key economic infrastructure while price inflation remains at more sustainable levels.

“We welcome the recently published update of the National Development Plan as a long-term strategic infrastructure plan of €275 billion up to 2035. The current period of tender price stability provides a great opportunity for Government to push forward with the much-needed infrastructure investment across a range of sectors.

“For example, with regard to utilities urgent investment is required in the water supply network, in wastewater treatment and in the electricity grid. Critical investment is also required across the transportation, residential and healthcare sectors.”

“We would also urge the Government to publish the sectoral investment plans in order to provide specific details of the projects and pipeline up to 2030.”

 For media queries please call the SCSI at (01) 6445500 and ask for Patrick King.

Note to Editor  

Methodology and Use of Data Notes     

The statistics extracted from our member survey were utilised in outlining the findings of this report, which is intended to give a general overview of median commercial tender price trends within Ireland’s construction sector. The Index is the only independent assessment of construction tender prices in Ireland. It is compiled by Chartered Quantity Surveyor members of the SCSI.

The TPI 1H2025 is based on sentiment returns only. The TPI is for commercial projects during the period in question. It is based predominately on new-build projects with values in excess of €1m and covers all regions of Ireland. The Index relates to median* price increases across differing project types and locations. It should be regarded as a guide only when looking at any specific project, as the pricing of individual projects will vary depending on such factors as their complexity, location and timescales. It is important that the TPI report is used appropriately and not for all construction projects, including those in the residential sector and those below €1m.

The TPI 1H2025 provides median reported figures across all project tiers; breakdowns by tier may vary. Project-specific advice should be sought from a Chartered Quantity Surveyor before deciding an appropriate TPI provision for individual construction projects. The data outlined within this report was provided by SCSI Chartered Quantity Surveyors with direct expertise and knowledge on the market conditions in the construction sectors across the country. The statistics extracted from our member survey were utilised in outlining the findings of this report, which is intended to give a general overview of median commercial tender price trends within Ireland’s construction sector.

*From 1H 2021 onwards, the median value is used as the statistical methodology.

The August 2025 Digital Special Edition of the Surveyors Journal highlights innovation and transformation in the surveying profession, with features on digitalisation, AI, data-driven decision making, and the future skills needed to support a more sustainable and tech-enabled built environment.

• President’s Message – Gerard O’Toole
• Editorial – Tom Dunne
• Unlocking the Future of Digital Construction – Emma Hayes
• Digitalisation in Action: Irish Case Studies – Various Contributors
• Harnessing AI for Smarter Surveying – Dr. Marcella Grehan
• Data-Driven Decision Making in Property & Construction – David O’Brien
• The Digital Skills Survey 2025: Key Findings – SCSI Research & Policy Team
• Shaping the Next Generation of Surveyors – Education & Lifelong Learning Committee

The June 2025 issue of the Surveyors Journal explores sustainability, market trends, and leadership in surveying, with a focus on material reuse, urban planning, agriculture, and commercial retrofitting.

This edition includes:

• President’s Message – Gerard O’Toole
• Editorial – Tom Dunne
• On the Roadmap – Colm Quinn
• Making Material Reuse a Reality – Rachel Hoolahan
• Irish Agriculture: Land Market Trends, Regional Insights, and Future Outlook – Edward McAuley
• Irish Cities in Crisis – The Irish Cities 2070 Group
• The Challenge of Commercial Retrofit – Enda McGuane
• Copenhagen in Quantity – Ross Griffin

Gerard O’Toole says state backed investment scheme could also play key role in addressing housing crisis

“Uncertainty is the word we are hearing all the time… But now is the time to focus on what we can control and take decisive action to address our housing and infrastructural deficit”

SCSI calls for greater emphasis on sustainable clustered housing in rural areas

Monday, June 9th, 2025:  The new President of the Society of Chartered Surveyors Ireland (SCSI), Gerard O’Toole, has said that the Housing Activation Office needs to commence its work urgently on clearing the many blockages which are impeding the delivery of new housing. Mr O’Toole said a central concern for the SCSI on the housing issue was the need for greater coordination across all levels of government, state agencies and stakeholders. These issues are stalling progress at a time when housing demand is critically high.

“We need to breakdown the silos which appears to exist across Government departments and agencies if we are to ensure the efficient and timely delivery of new housing and the retrofitting of existing housing, including vacant and derelict property. Hold-ups with the implementation of critical infrastructure continue to hinder progress, and a more joined-up, cross-agency approach is badly needed.”

“For example, we can see this in the rising costs, specification increases and delays associated with water and power connections. The SCSI is calling for reform of the utility connection processes and earlier engagement by Uisce Éireann and the ESB with home builders to reduce delays and prioritise essential connections for housing ready for occupation.”

“That is why we believe the terms of reference for the Housing Activation Office (HAO) must facilitate greater collaboration and transparency. Regular and effective engagement with key industry stakeholders will be key to the success of this office. But so also will be accountability and ongoing measurement of activity. If the HAO can accelerate planning and procurement processes, improve access to finance for home builders and increase the supply of serviced development land, it will be deemed a success”

State backed investment scheme

The SCSI believes the establishment of a state backed housing investment vehicle could also play a key role in addressing the housing crisis. Mr O’Toole pointed out that the state is by far the largest investor in Ireland’s housing delivery – it allocated over €5bn to housing in 2024 – but says this level of public investment is not sustainable in the long term and the state needs to explore alternative and diversified funding streams.

The SCSI believes the establishment of a specific private savings fund devoted to housing – which was initially proposed by the Housing Commission – could enable the Government to put long term multi-annual housing plans in place while also facilitating investment in much needed infrastructural projects. Mr O’Toole says the Government needs to show more urgency and act decisively.

“Uncertainty is the word we are hearing all the time, largely due to ongoing geopolitical issues which show no sign of abating anytime soon. We believe it’s now time to focus on what we can control and take decisive action to address our housing and infrastructural deficit. A savings fund of this nature would underpin long-term planning by providing the multi-annual funding commitments housing projects require. It could also support longer-term budgets for several state housing schemes, including Help to Buy, Vacant Property Grant, etc, which are often subject to annual funding reviews and decisions.”

“Irish households’ bank deposits amount to nearly €160 billion, mostly in low-interest current accounts. At the same time, access to finance remains a major barrier, especially for small and medium-sized developers. If the Government was to establish such a state backed investment vehicle – similar to the one they have in France, it would enable citizens to invest securely in future housing while also expanding access to development finance for small and medium-sized home builders.”

Proposals on the terms of reference on the HAO and the setting up of the state backed investment schemes were among several proposals made by the SCSI in a recent detailed submission on the Government’s new National Housing Plan 2025 -2030.

Clustered Development

In its submission, the SCSI said that with regard to rural housing the new housing plan should put a greater emphasis on clustered housing. It said rural housing planning guidelines in the new National Housing Plan should transition away from ribbon development towards a more ‘clustered’ rural housing delivery in the interest of proper planning and sustainability.

It said one-off development should be evidenced with a strong housing need, such as strong ties with agriculture, if seeking to build a new single home outside of ‘clusters’. The SCSI is proposing that planning authorities should compile data to identify the number of planning permissions granted for single houses in each category such as ribbon or cluster development and Government should consider implementing a maximum threshold of ribbon development permissions for each county to manage the levels of one-off houses being built in this manner.

Mr O’Toole, who was born in London but moved back to Westport when he was eleven, is founder and director of O’Toole & Co, a full service residential and commercial estate agency. Mr O’Toole, who is a fully qualified chartered surveyor and registered valuer, has held several positions within the SCSI, including Chair of the Northwest Region. He has been an SCSI board member since 2023 and became a Council member last year. He is married with four children and lives in Westport.

SCSI Annual Report 2024–2025 – Overview

At the Society of Chartered Surveyors Ireland (SCSI), we are proud to share the highlights from a year of progress, collaboration, and impact, as outlined in our 2024–2025 Annual Report. Guided by our Roadmap 2027 strategy, we’ve continued to support our members, advocate in the public interest, and futureproof the surveying profession.

Our Year in Numbers and Achievements:

• Stronger Member Support:
  • We delivered over 111 CPD, training and networking events to nearly 10,000 attendees.
  • Our membership grew to over 7,200, including students and trainees.
  • More than 27,000 online CPD lessons were accessed through our digital library.
• Advocating for Change:
  • We published major reports on apartment maintenance costs, retrofitting, and European construction benchmarks.
  • Our engagement with government was stronger than ever — including meetings with the Taoiseach and Minister for Housing — with 11 formal policy submissions and 41 mentions in Oireachtas debates.
• Raising Public Awareness:
  • Our website received over 1.2 million visits, with 407,000 users accessing our House Rebuild Calculator.
  • We launched new consumer guides and appeared in 1,300+ media features to highlight the value of chartered surveyors.
• Investing in the Future:
  • We introduced the ADR Pupillage Scheme to develop dispute resolution expertise.
  • Sustainability, digital transformation, and diversity remained core to our agenda.
  • We continued to strengthen our strategic partnerships with organisations like RICS, CEEC, and Teagasc.

This year, we’ve deepened our impact, expanded our reach, and grown as a trusted voice for construction, land, and property professionals. We thank our members, volunteers, and partners for your continued support.

Together, we are building a resilient and future-ready profession.

Commercial construction tender prices increased by 1.5% in the second half of 2023, down from 2.4% in previous six months

Chartered Surveyors say national annual rate of commercial construction inflation is now running at 3.9% down from 11.5% in 2022

Reduction in rate due to stabilising material prices, reductions in energy costs and greater competitiveness within the market

Shortages of skilled labour now the main cost driver

Thursday 1st February 2024: A new report by the Society of Chartered Surveyors Ireland (SCSI) shows that while construction costs are continuing to rise, the rate of increase eased significantly in the second half of 2023.

The latest Tender Price Index (TPI) published by the SCSI shows the rate of commercial construction inflation increased nationally by 1.5% in the second half of 2023, down from 2.4% in the first half of last year.

According to the SCSI’s Tender Price Index, (TPI) which is the only independent assessment of commercial construction tender prices in Ireland, the annual median national rate of inflation for the calendar year 2023 was 3.9%, down from the 11.5% recorded for 2022.

The TPI is recorded every six months and the fall for the preceding 12 months – July ’22 to June ’23 – was 6.2%, which shows the inflation rate has been on a downward trajectory for the last 18 months.

The report indicates some variation across the regions with a higher median rate of inflation of 2.2% recorded in Leinster (excluding Dublin) and 1.5% recorded for Dublin. Connacht / Ulster recorded a 2% increase while Munster recorded inflation of 1%, down from 3% in the first half of the year.

Fig 1. Construction Tender Prices 1998 – 2023 Research for the latest edition of this sentiment survey, which is based on responses from Chartered Quantity Surveyors from all around the country, working on commercial projects, was conducted in January 2024.

Kevin Brady, a member of the SCSI’s Quantity Surveying Professional Group said that while persistent market challenges remain, the fact the rate of increase had moderated significantly was a positive development.

“Two years ago, in the first half of 2022, the TPI recorded its highest ever 6-month inflation rate of 7.5%. So, we are clearly in a much better place now. The softening of the rate of increase is due in the main to the stabilisation of the price of building materials, reductions in energy and fuel costs along with greater competitiveness within the market. Reduced demand in some commercial sectors will help increase capacity within the industry for new projects.”

“However, in the second half of last year the market experienced continual challenges with frequent increases in financing costs, shortages of skilled labour and rising labour costs, all of which remain key issues today. Surveyors are consistently reporting the latter as the main driver behind the latest cost increases and the main challenge facing the industry at present. They say labour inflation is being driven by a combination of a shortage of skilled tradespeople and pressure from the cost-of-living crisis which is leading to increasing wage demands. The Sectoral Employment Order* increase of approximately 5% last year is also having an impact on tender levels.”

“Looking further afield SCSI members believe there is potential for geo-political issues, particularly the war in Gaza, to spread more widely and impact key supply routes, leading to additional transport costs.”

The President of the SCSI, Enda McGuane, said the latest report showed that concerted action was needed to address the skills shortage right across the construction sector.

“Given that the Housing for All targets should undergo significant upward revision in the near future, it’s also likely that the number of construction workers required to deliver the higher targets will also have to be revised upwards. We will clearly need more surveyors, electricians, engineers, plumbers, architects, and carpenters to name but a few. We need to attract more people into these roles and to develop alternative pathways to them.”

“While this will be a challenge, it also brings opportunities. Opportunities to work in new and exciting areas such as modular construction, operational data analysis or sustainability

consultancy. Opportunities also to address the gender imbalance across the built environment sector and the ongoing lack of diversity in the industry.”

Mr McGuane, who is the Asset Management Lead for the Land Development Agency, was speaking ahead of the SCSI’s annual dinner which takes place at the Clayton Burlington Hotel this evening (Thursday) and is due to be attended by over 1,300 chartered surveyors and guests.

The full Tender Price Index report is available at https://scsi.ie

*Sectoral Employment Orders (SEO) covering rates of pay, sick pay, and pensions in the construction sector were signed into legislation following acceptance by the Minister of State at the Department of Enterprise, Trade and Employment, of recommendations from the Labour Court.

For more information 

Contact Kieran Garry 

GPR Communications 

087/2368366 

  [email protected]  

Methodology and Use of Data Notes  

The data outlined within this report was provided by SCSI Chartered Quantity Surveyors with direct expertise and knowledge on the market conditions in the construction sectors across the country. The statistics extracted from our member survey were utilised in outlining the findings of this report, which is intended to give a general overview of median commercial tender price trends within Ireland’s construction sector.

The Index is the only independent assessment of construction tender prices in Ireland. It is compiled by Chartered Quantity Surveying members of the SCSI. The Tender Price Index (TPI) 2H 2023 is based on sentiment returns only. The TPI is for commercial projects during the period in question. It is based predominately on new build projects with values in excess of € 0.5m and covers all regions of Ireland. The Index relates to median** price increases across differing project types and locations. It should be regarded as a guide only when looking at any specific project, as the pricing of individual projects will vary depending on such factors as their complexity, location, and timescales.

It is important that the Tender Price Indices report is used appropriately and not for all construction projects, including those in the residential sector and those below €0.5 million. The Tender Price Index 2H 2023 provides median reported figures across all project tiers, breakdowns by tier may vary. Project specific advice should be sought from a Chartered Quantity Surveyor before deciding an appropriate TPI provision for individual construction projects.

**From 1H 2021 onwards, the median value is used as the statistical methodology.

The post Tender Price Index 2024 – Press Release appeared first on Society of Chartered Surveyors Ireland.

The latest SCSI Tender Price Index *TPI) shows that while construction costs are continuing to rise, the rate of increase eased significantly in the second half of 2023.

The TPI shows the rate of commercial construction inflation increased nationally by 1.5% in the second half of 2023, down from 2.4% in the first half of last year.

The post Tender Price Index – February 2024 appeared first on Society of Chartered Surveyors Ireland.