Market Insights Financial Real Estate Residential Real Estate

Residential Real Estate Transactions - Ireland

Ireland

In Ireland, the market segment of Residential Real Estate Transactions market is anticipated to witness a significant increase in transaction value, with a projected amount of US$14.14bn by the year 2024.
Furthermore, this market is expected to display a steady annual growth rate (CAGR 2024-2028) of 4.88%, leading to a market volume of US$17.11bn by 2028.
Ireland's residential real estate market is experiencing a surge in demand due to attractive tax incentives for foreign investors.

Key regions: Asia, Japan, China, Europe, Germany

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Analyst Opinion

The Residential Real Estate Transactions market in Ireland has been experiencing significant growth in recent years.

Customer preferences: One of the key customer preferences driving the growth in the Residential Real Estate Transactions market in Ireland is the desire for homeownership. Many individuals and families in Ireland aspire to own their own homes, and this has created a strong demand for residential properties. Additionally, there is a growing trend towards urbanization, with more people seeking to live in cities and towns rather than rural areas. This has led to increased demand for residential properties in urban areas, driving up transaction volumes.

Trends in the market: One of the major trends in the Residential Real Estate Transactions market in Ireland is the increase in property prices. The demand for residential properties has outpaced supply, leading to a shortage of available homes and pushing up prices. This trend has been particularly pronounced in urban areas such as Dublin, where property prices have been rising at a rapid pace. As a result, buyers are facing higher prices and increased competition for properties. Another trend in the market is the rise of online property portals and digital platforms. These platforms have made it easier for buyers and sellers to connect and transact, reducing the need for traditional real estate agents. This has increased transparency in the market and made it more accessible to a wider range of buyers.

Local special circumstances: One of the unique factors shaping the Residential Real Estate Transactions market in Ireland is the impact of Brexit. The uncertainty surrounding Brexit has led to increased demand for residential properties in Ireland, particularly from individuals and businesses looking to relocate from the UK. This has contributed to the growth in transaction volumes and property prices in certain areas.

Underlying macroeconomic factors: Several underlying macroeconomic factors have contributed to the development of the Residential Real Estate Transactions market in Ireland. One of the key factors is the strong economic growth that Ireland has experienced in recent years. This has led to increased consumer confidence and spending power, driving demand for residential properties. Additionally, low interest rates have made it more affordable for individuals to borrow and purchase homes. This has further fueled demand in the market, as buyers are able to secure favorable financing terms. In conclusion, the Residential Real Estate Transactions market in Ireland is experiencing growth due to customer preferences for homeownership and urban living, as well as trends such as rising property prices and the rise of online platforms. Local special circumstances, such as the impact of Brexit, are also influencing the market. Underlying macroeconomic factors, including strong economic growth and low interest rates, are driving demand for residential properties in Ireland.

Methodology

Data coverage:

Figures are based on total and average revenue of residential real estate transactions (sales).

Modeling approach:

Market size is determined by a 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 considered at a country-specific level.