The Central Bank of Ireland has sounded the alarm on the alarming threat posed by investment funds to struggling homeowners. In the final quarter of last year, a staggering 47,700 individuals found themselves unable to meet their mortgage repayments, marking a concerning trend. Most concerning, however, is that these mortgages have fallen into the hands … Read more
House prices in Ireland continue to climb as the nation grapples with a severe housing shortage. The latest REA Average House Price Index reveals a 1.3% increase in the first quarter of 2024, with the average three-bedroom, semi-detached house now commanding €308,235. Rural areas are feeling the pressure as urban dwellers seek more affordable housing … Read more
AIB, in collaboration with Activate Capital through the Irish Apartment Development Fund (IADF), is set to launch a groundbreaking €500 million initiative. This ambitious project aims to deliver 1,000 new apartments every year, catering to various housing needs across Ireland. The initiative will encompass mixed-tenure homes, including options for owner-occupiers, private sector rentals, cost rentals, … Read more
Last year’s budget’s promise to alleviate the impact of rising interest rates has fallen short, according to the Central Bank’s recent report. The scheme, costing €120 million annually, primarily benefits older homeowners with tracker mortgages, neglecting those facing steep interest rates exceeding 6%. The bank urges a revision, limiting assistance to those with rates above … Read more
Dublin, Ireland – House prices in Ireland persist in their upward trajectory, leaving potential homebuyers disappointed. The latest data reveals a 4.4% increase in house prices last year, with Dublin experiencing a 2.7% rise and suburban areas witnessing a substantial 5.7% surge. This expansion into the outskirts is creating hurdles for first-time buyers. December’s Residential … Read more
In a stark revelation, Feargal O’Rourke, the new chairman of Ireland’s Industrial Development Agency (IDA), addressed the Joint Enterprise Parliamentary Committee, emphasizing the critical need for an annual construction of 50,000 new homes to combat the nation’s housing crisis. O’Rourke pointed out that the current annual construction of 30,000 homes falls significantly short of the … Read more
Despite surging mortgage interest rates and an escalating cost of living, Ireland’s housing market remains robust. In 2023, house prices witnessed a 4.4% increase compared to the previous year, defying the economic challenges. Dublin experienced a 2.7% rise, while areas outside the capital saw a more significant uptick at 5.7%. According to a report from … Read more
In a remarkable trend, Ireland’s average mortgage interest rates have fallen for the third consecutive month, settling at 4.19%, as reported by the Central Bank’s December figures. This 0.06% decrease from November has positioned Ireland in 10th place among Eurozone countries. Economists express surprise at this unexpected shift, attributing it to the anticipation of a … Read more
In a bid to curb widespread non-compliance with tenant registration requirements, the Residential Tenancies Board in Ireland has announced the reinstatement of fines for landlords who fail to register tenants’ details on time. The penalty, removed a year ago, will be reintroduced effective March 1, imposing a monthly fine of 10 euros for non-compliance. The … Read more
Ardstone is set to submit plans for a new €300 million apartment scheme near Milltown in Dublin months after An Bord Pleanála conceded a High Court challenge against a previous permitted scheme for the site. A Large Scale Residential Scheme (LRD) application for a 636 unit scheme will be submitted to Dublin City Council in … Read more
Under Dublin’s affordable housing programme, more than 50 brand-new homes are available for less than €300,000. The homes in Hayestown, Rush, range in size from two to three bedrooms. A 2-bedroom mid-terrace property with qualified applicants starts at €228,000; a 3-bedroom mid-terrace house starts at €284,500; and a 3-bedroom semi-detached house starts at €299,500. The … Read more
House with four bedrooms for sale in Liffey Hall, Newbridge, County Kildare: 12 The Crescent. Three bathrooms are included in this 135 square metre home, which is owned by a Malaysian. Two reception rooms, a sizable kitchen, a dining space, and a corner site garden are all included. Wooden floors and built-in wardrobes are features … Read more
Data from the Central Statistics Office show that in the 12 months leading up to March 2023, the national Residential Property Price Index climbed by 3.9%. This is down from a 5.1% increase in the year to February and the high value of 15.1% in the 12 months to February and March 2022. Prices in … Read more
According to a survey from real estate website Daft, market rents increased by an average of 1% in the first quarter of 2023 compared to the final three months of 2022, which is the smallest increase since 2020. Between January and March, the average market rent countrywide was €1,750 per month, up from €1,387 in … Read more
The Minister for Housing, Darragh O’brien, will present plans to Cabinet on Tuesday that call for increasing grants for renovating unoccupied homes. This action, which will be paid for from the current housing budget, aims to address the growing cost of construction supplies. Property owners are currently eligible for a subsidy of €30,000 to renovate … Read more