A staggering 4,608 applications were submitted for just 195 cost-rental apartments in a new development at Shanganagh Castle in Dublin’s Shankill. The Land Development Agency (LDA) opened applications for the apartments last week, and demand far exceeded availability. Of the total applications, just over 2,200 met the eligibility criteria for the scheme. A lottery will … Read more
The average mortgage value for first-time buyers has reached a record level of just under €290,000, according to new figures from Banking and Payments Federation Ireland (BPFI). This marks the highest value recorded since BPFI began tracking this data in 2003, underscoring the rising financial challenges for those entering the property market. Similarly, home mover … Read more
Irish property prices are currently overvalued by 8 to 10 percent, the Economic and Social Research Institute (ESRI) said in its latest Quarterly Economic Commentary. The institute’s analysis considered various factors, including housing prices, disposable incomes, interest rates, housing supply, and the proportion of the population aged 25 to 44—the key demographic for homebuyers. The … Read more
The number of homes built in Ireland so far this year is slightly below last year’s figures, according to the Central Statistics Office (CSO). Between January and September 2024, a total of 21,634 houses and apartments were completed, compared to 22,325 during the same period in 2023. These figures align with forecasts from the Economic … Read more
ICS Mortgages has introduced its new Housing Bridge Loan product, a flexible short-term financing solution aimed at homebuyers and investors looking to purchase property in Ireland. This product is designed to provide temporary financial support, making it easier for individuals to navigate property transactions in a competitive market. The mortgage provider stated that its Housing … Read more
As many as 62,000 homes will be required each year to address the housing demand in Ireland in the short term, according to a new analysis. This figure is significantly higher than previous estimates and highlights the urgent need for increased housing supply. According to estate agents Sherry Fitzgerald, average housing demand will hover around … Read more
A new report reveals that national housing asking prices have risen by 7.5% over the past year, marking the highest annual inflation rate in two years. The latest house price survey, conducted by MyHome.ie in partnership with Bank of Ireland, highlights growing pressure on Ireland’s housing market. The report found that 14% of homes listed … Read more
Cork city renters are facing a harsh reality as average monthly rents have surpassed €2,000 for the first time. This 11.9% jump from last year has left many struggling to keep up with rising costs. The latest report from daft.ie paints a grim picture across Ireland. While Dublin’s rent increases have slowed slightly, the rest … Read more
Cork County Sees Significant Uptick in Vacant Property Refurbishment Grants Cork County is witnessing a remarkable increase in the approval of Vacant Property Refurbishment Grants. To date, 478 applications have been approved, with 76 of those approvals occurring in the second quarter of 2024 alone. According to Irishindependent, the grant, provided by the Department of … Read more
Residential property prices across Ireland increased by 8.2 per cent in the 12 months to May this year, according to figures from the Central Statistics Office. CSO data found that property prices in Dublin rose by 8.6 per cent, while rates outside the capital city went up by 7.8 per cent. This was the ninth … Read more
Dublin, Ireland – A new report from the Economic and Social Research Institute (ESRI) reveals that Ireland needs an average of 44,000 new housing units each year to keep up with population growth. This study, funded by the Department of Housing, bases its findings on projected population growth and demographic changes at the local level. … Read more
AIB and Bank of Ireland have started offering low-cost loans to homeowners as part of the government-backed Home Energy Upgrade Loan Scheme. Under the scheme, homeowners, including small, non-corporate landlords, can borrow between €5,000 and €75,000 for up to 10 years with interest rates as low as 3 per cent for carrying out home energy … Read more
AIB has made a significant move to incentivize eco-friendly home construction by introducing discounted green mortgages for builders in Ireland. This initiative aims to promote energy-efficient housing, with lower interest rates offered to those adhering to specific standards, including Nearly Zero Energy Building (nZEB) criteria. Under the new scheme, individuals constructing their own homes or … Read more
Ireland is witnessing a notable surge in farm sales, particularly in the western region, according to recent reports from the Central Statistics Office (CSO). In 2022, approximately 60,000 acres of agricultural land changed hands, marking a slight increase compared to the previous year. Notably, immigrants, particularly those from China, are increasingly among the buyers. The … Read more
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