Why Ireland?

After the worldwide financial crisis of 2008, the number of home’s being built in Ireland fell dramatically. This depressed level of housing delivery persisted for over a decade and even as recent as 2019, there were only 21,133 homes being completed per year.

Since 2009 Ireland’s population increased by 16.5% (748,200 people). In 2023 the irish Taoiseach (Prime minister) Leo Varadkar stated in Dáil Éireann (Irish parliament) that Ireland currently has a shortfall of between 250,000 to 300,000 home’s.

The government’s current housing targets are to deliver 30,000 home’s per year, however both the Housing Commission and the IMF (International Monetary Fund) estimate Ireland needs to be delivering 60,000 homes a year just to meet the current demand

The government have responded by stating they will increase housing output to 40,000 homes a year by 2030, which is still nowhere near enough to meet demand and this lack of output will only add to the current deficit of 250,000.

What is compounding the housing crisis and making the situation even more challenging is Ireland’s population which is growing on 2 fronts. A natural population growth rate of (insert details here) and near record levels of inward immigration coming to people moving to work in various sectors across the economy.

This chronic under supply of housing, coupled with record levels of immigration, natural population growth and low government housing targets, means the current situation will persist for the foreseeable future and will underpin current rental rates well into the future.

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