The housing market in Ireland is experiencing a significant crisis, with demand surpassing supply to alarming levels. According to the Banking and Payments Federation Ireland, approximately 17% of consumers are actively looking to rent or purchase homes, marking Ireland as having the second highest housing demand in Europe after the Netherlands. Despite this, housing supply is low, with only one in ten homeowners likely to sell and new housing commencements at about 40% of 2023 levels. This situation suggests it may take years to resolve the ongoing housing crisis.
We know that Ireland's population increased by around 735,000 people between 2014 and 2024, while in the same period employment in the country has also surged.
Demand for housing in this country is now the second highest in Europe, after the Netherlands, with 17% of consumers actively seeking to rent or buy.
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