If you are looking to but a home, then Ireland may not be the place for you. The homes prices have skyrocketed and affording a home may be hard to come by. The news will be great for investors as they will see there property value jump and make a nice return on investment. As with anything there are winners and losers and in this case it looks to be a win for investors that purchased before the Property increase.
Key Takeaways:
- There is no evidence supporting the huge raise in market prices.
- Theres no competition and low supply. this is causing markets to raise prices unreasonably.
- The mayor is attempting to add more residential areas to create more workers that supply goods and services.
“In the year to the end of February the market in Dublin was up just over 8% but in parts of the west, which includes Galway, Roscommon and Mayo, the prices increased almost 20%”