Irish House Prices Set for New Records on High Rents, Tight Supply
- Rents in Ireland rose almost five times EU average in 12 years
- New homes have failed to keep pace with population growth
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House prices in Ireland are set to continue to rise from current record levels as surging rental costs and population growth buoy demand amid inadequate supply.
Average rents rose more than 82% between 2010 and the second quarter of 2022, compared to an EU average increase of just 18%, Ireland’s Banking & Payments Federation said in a report Tuesday. The increases could push more people into buying, with house prices in the country rising a less dramatic 55% over the same period.