The Tender Price Index (TPI) acts as an independent measure of market sentiment for commercial construction projects with a value exceeding €1 million, including offices and retail developments. The findings relate solely to commercial new-build projects and should not be applied to residential construction or smaller-scale works.
Key Findings:
- The SCSI Tender Price Index Report indicates a stabilisation in commercial tender prices during the second half of 2025. Tender prices increased by 2.5% over the full year, representing the lowest annual increase since 2020 and a moderation from the 3% rise recorded in 2024.
- Regional data for the latter half of 2025 shows flat pricing in Dublin and Leinster, while modest increases were recorded in Munster (1.5%) and Connacht/Ulster (1.8%). These regional variations reflect differing levels of construction activity and resource availability.
- Looking ahead, 69% of surveyors expect tender prices to continue rising in the first half of 2026, although overall sentiment points towards a return to a more stable, business-as-usual market. Geopolitical uncertainty remains a concern, particularly in relation to its potential impact on US foreign direct investment. However, a strong public capital programme continues to support a positive outlook for future activity.