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Rebound of Residential Construction in Ireland

Following the end of lockdown restrictions on the building sector in Ireland back in April, home construction has been on a strong rebound. According to the most recent GeoView Residential Buildings Report, almost 19,000 houses were under construction throughout June. This figure is a 38.4 percent increase from the previous year.  The CEO of GeoDirectory, …

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Respond Delivers Social Homes in Cork

Amid the height of the pandemic in 2020, Respond was successful in providing 132 new affordable homes in Cork. According to statements found on Respond’s website, it is an Irish non-for-profit housing association that seeks to create homes for social investment instead of financial gain. Another of its goals is to supply homes to those …

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How to Fix Ireland’s Housing Crisis?

According to the Central Statistics Office of Ireland, residential home prices have gone up a whopping 74.5 percent from 2013 to 2019. This is a striking figure because average income has only gone up by 12 percent.  Rent prices have also increased significantly in this same period. A lease increase of 55.1 percent from 2013 …

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Chambers Ireland’s Opinion for the 2022 Budget

Ireland’s 2022 Budget is set to be released on October 12th, 2021. Chambers Ireland, the country’s largest business network, has requested for the government to widen and reform Ireland’s Living City Initiative in the 2022 Budget.  Chambers Ireland is composed of local company representatives from regions across Ireland and has forty member chambers. There is …

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Rebuilding Ireland Home Loan Program Set to Increase Income Cap

The Rebuilding Ireland Home Loan program will be increasing the income limits for those that qualify. Rebuilding Ireland Home Loan is a government-backed mortgage for first-time homebuyers. The program was established in 2018 so these first-time homebuyers could get a mortgage after being denied from private lenders and banks. These loans can go towards new, …

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What Effect Are Cuckoo Funds Having of Ireland’s Housing Market?

Since 2018, cuckoo funds have bought greater than €6.2 billion worth of homes in Ireland according to JLL. Cuckoo funds are more officially titled Private Rented Sector (PRS) funds, which are supported by institutional investors such as pension funds. Cuckoo funds occur when these investors buy up a whole section of apartments, immediately from the …

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What is Sustaining Construction Activity in Ireland?

Savills, a property seller, has stated that the fundamental factor sustaining residential construction is institutional investment funds coming into the Irish property market. Throughout 2021, nearly €2.7 billion were recorded as investments in the Irish property market. This figure encompasses elements of the market ranging from residential to industrial property.  When looking more specifically at …

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New Affordable Housing Model That Can Make the State Money

Adopting a system of affordable housing can be a strategic plan that will benefit both the state and local citizens. New affordable housing models have actually been predicted to make Ireland money over time and even increase the income of local communities by a few million euros each year. These ideas were proposed at a …

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5 Strategies to Solve Ireland’s Housing Crisis

1. ‘Tenure Blind’ Homes The idea of developing ‘tenure blind’ homes has been proposed by Fiona Cormican, the Business Director at Clúid. Cormican calls for a system of definitive mixed housing that is accompanied by an income-based rent model to create a sustainable housing sector. In order to attain this system, Cormican proposes that we …

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