DECRYPTION – Some young Irish people, discouraged, come to emigrate because they cannot find accommodation.
The housing crisis is one of the main social and economic issues facing the Irish government. To the point of threatening the attractiveness of the island for foreign investment, and its growth model. Some multinationals are beginning to worry about the difficulty of their employees finding accommodation before considering new developments in the country.
So far, prices show little sign of easing. Over the whole of 2022, the number of transactions jumped by 7.5%, according to the MyHome.ie site. At the end of October, prices were up almost 10% year on year, according to the Central Statistics Office. The median price of housing in Ireland, 330,000 euros, represents more than seven times the average income, a record for ten years. Rising interest rates barely cooled the market. The Central Bank has relaxed rules for home loans, allowing banks to lend up to four times a buyer’s income.
Read the file Ireland: the Figaro travel guide