While the property market was dominated by Covid-19 in 2020, residential property prices proved surprisingly resilient throughout the year and are set to increase by an average of 4% in 2021 according to the Society of Chartered Surveyors Ireland.
Chartered estate agents believe property prices in Dublin - which has the highest prices - are set to rise by 3%, while Connacht and Ulster which has some of the lowest prices, will see an increase of 6%.
An increase of 4% is predicted for Leinster while prices are forecast to increase by 5% in Munster.
This year s SCSI annual Residential and Outlook report - which has been running since 1983 - is based on four surveys of almost 800 members conducted during the four quarters of 2020.
Generation of Irish workers locked out of home ownership due to Ireland s broken housing system
Sinn Fein s Pearse Doherty said a report from the Society of Chartered Surveyors Ireland on the cost of delivering apartments in Dublin made for grim reading
Mortgaged house in padlock and chains (Image: Peter Dazeley)
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A generation of workers has been locked out of home ownership because of Ireland’s broken housing system, a Sinn Fein TD has said.
Pearse Doherty said the report from the Society of Chartered Surveyors Ireland (SCSI) on the cost of delivering apartments in Dublin made for “grim reading”.
The report, released earlier this week, revealed the cost of delivering a two-bed apartment costs around 359,000 euro for a low-rise in the suburbs, rising to 619,000 euro for a high-rise unit in the city centre.
Mr Doherty said that a working couple would need a deposit of 36,000 euro and have a gross income of over 90,000 euro, to buy the cheapest apartment in the report.