Key regions: Europe, Asia, Australia, United States, Germany
The Residential Real Estate market in Ireland has been experiencing significant growth and development in recent years.
Customer preferences: Customers in Ireland are increasingly looking for modern and energy-efficient homes. There is a growing demand for properties with sustainable features such as solar panels, energy-efficient appliances, and smart home technology. Additionally, customers are seeking properties with open floor plans, ample storage space, and high-quality finishes. Location is also a key consideration for many buyers, with proximity to amenities such as schools, shops, and public transportation being important factors.
Trends in the market: One major trend in the Irish Residential Real Estate market is the increasing popularity of urban living. Many people are choosing to live in cities and towns, attracted by the convenience and amenities they offer. This has led to a rise in the construction of apartment buildings and townhouses in urban areas. Additionally, there has been a shift towards smaller, more compact homes, as people seek to downsize and simplify their lifestyles. Another trend in the market is the growing demand for rental properties. The high cost of buying a home, coupled with changing attitudes towards homeownership, has led to an increase in the number of people renting. This has created opportunities for investors in the buy-to-let market, as rental yields remain strong.
Local special circumstances: One unique aspect of the Irish Residential Real Estate market is the influence of the diaspora. Many Irish people who emigrated during the economic downturn are now returning to Ireland, either permanently or for extended periods of time. This has created a demand for housing, particularly in urban areas where job opportunities are more abundant. Additionally, foreign investors, particularly from the United States and the United Kingdom, have been attracted to the Irish market due to its stability and potential for growth.
Underlying macroeconomic factors: The growth and development of the Irish Residential Real Estate market can be attributed to several underlying macroeconomic factors. The strong performance of the Irish economy in recent years, with low unemployment and rising incomes, has increased consumer confidence and purchasing power. Additionally, low interest rates have made borrowing more affordable, encouraging more people to enter the property market. Furthermore, government policies and initiatives have played a role in supporting the growth of the market. The introduction of the Help to Buy scheme, which provides financial assistance to first-time buyers, has made homeownership more accessible for many. The government has also implemented measures to increase housing supply, such as relaxing planning regulations and providing incentives for developers. In conclusion, the Residential Real Estate market in Ireland is experiencing growth and development due to changing customer preferences, such as a desire for modern and energy-efficient homes, as well as the increasing popularity of urban living and the growing demand for rental properties. Special circumstances, including the return of the diaspora and foreign investment, are also contributing to the market's growth. Underlying macroeconomic factors, such as a strong economy and government support, are further driving the market's expansion.
Data coverage:
Figures are based on total and average value of residential real estate, residential estate transactions and leases.Modeling approach:
Market size is determined by a combined top-down and bottom-up approach. We use national statistics, international organizations, and industry associations to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country specific industry associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita.Forecasts:
We use a variety of forecasting techniques, depending on the behavior of the market, for instance, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.Additional Notes:
Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
