Top 4 Irish Real Estate Trends

Ireland has witnessed a significant shift in its real estate market over the past few years. Despite the global economic slowdown, the Irish property market has remained resilient, with the number of transactions and property prices consistently on the rise. In this article, we will discuss some of the Irish real estate trends that are worth keeping an eye on.

Table of Contents

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1. Rising Property Prices
2. Foreign Investment
3. The Rise of Co-Living Spaces
4. Sustainability and Energy Efficiency

1. Rising Property Prices

Across the country, the price of residential properties has been increasing at a steady rate. The average national house price increased by 4.6% in 2020 despite the challenges posed by the pandemic. In Dublin alone, the average house price increased by 2.2% during the same year.

Top 4 Irish Real Estate Trends

However, this Irish real estate trend has not been uniform across the country, and some regions have experienced lower rates of growth than others.

2. Foreign Investment

One of the biggest Irish real estate trends has been the increase in foreign investment. International investors are keenly interested in purchasing property in Ireland, thanks to its growing economy, political stability, and the availability of attractive investment opportunities. Many foreign investors are also attracted to the Irish visa programme, which offers residency status to property investors who meet certain criteria.

3. The Rise of Co-Living Spaces

In recent years, co-living spaces have become increasingly popular in Ireland, particularly among younger people. Co-living spaces offer communal living areas as well as private bedrooms, and often come with a range of amenities such as gyms, communal kitchens, and shared workspaces. While some argue that co-living spaces offer a more affordable and sociable living option, others are concerned about the potential impact on established communities.

4. Sustainability and Energy Efficiency

Sustainability and energy efficiency have become increasingly important considerations for those investing in Irish real estate. Developers are now required to meet strict energy efficiency and sustainability standards in new builds. Many existing buildings have also undergone upgrades to reduce their carbon footprint and improve energy efficiency ratings.

Top 4 Irish Real Estate Trends

This Irish real estate trend has not only led to lower energy costs for investors but has also contributed to Ireland's commitment to reducing its carbon footprint and slowing climate change.

The Irish real estate market has undergone significant changes in recent years, with rising property prices, foreign investment, the rise of co-living spaces, and a focus on sustainability and energy efficiency. These Irish real estate trends are likely to continue in the foreseeable future, further shaping the Irish property market.