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
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