Ireland Housing Crisis Continues
Ireland Housing Crisis Continues

Ireland Housing Crisis Continues

Ireland Housing Crisis Continues

Ten years after Ireland’s property bubble burst, the economy is recovering from the ravages of a deep recession but a housing crisis remains, due to a supply shortage and spiraling prices, AFP reported. Sales prices have increased by 47% since 2013, when they hit rock bottom, while rents are going up by double digits each year. “Prices were inflated in 2007, they were too high, but they fell by such an amount that they probably fell by too much,” said Kieran McQuinn, research professor at the Dublin-based Economic and Social Research Institute. “On the one hand they’re coming back to some long-run level, but equally that long-run level is increasing itself because the underlying economy and demand are so strong.” As the global financial crisis hit, house prices halved, unemployment soared and Ireland was forced to seek emergency funding from the European Union and International Monetary Fund. Today, the housing market is a victim of Ireland’s return to economic growth—the shortage is particularly evident in urban areas, which fuel a national average rent of €1,159 ($1,370) a month.


Short URL : https://goo.gl/6ScvJa
  1. https://goo.gl/CqvPrj
  • https://goo.gl/G9mLe5
  • https://goo.gl/JqDKaN
  • https://goo.gl/n85nZ6
  • https://goo.gl/jizcQC

You can also read ...

Shares in German and other European car manufacturers fell on Friday after Trump threatened  to impose a 20% tariff on cars imported from the bloc.
An industrial powerhouse built on massive exports and a...
Ireland Facing Agri-Food Crisis
The latest dry spell has threatened another fodder emergency...
Companies like Toyota need AI talent to develop self-driving technologies, but the competition is intense with an estimated shortfall of 700,000 engineers.
China and the US are scrambling to secure one of the world's...
Airbnb Exodus Spawns Business Boom in Japan
As Airbnb home-sharers in Japan quit the market in droves,...
Duterte Says Economy in Doldrums
Philippine economic activity is stagnating in the provinces...
Thai SMEs Can Cash In on China’s Vast Online Market
China offers great opportunities to Thai small and medium-...
Escalation of protectionist measures could trigger a fresh global economic downturn.
Policymakers can maintain the current economic upswing beyond...
The symposium emphasized the importance of capacity building and skills development as an integral component of the digital agenda.
The 2018 International Telecommunication Union’s Global ICT...

Add new comment

Read our comment policy before posting your viewpoints