Ireland Property Market Overview

The Irish property market has been another stellar performer over the last few years (if not the last 20 years).

The country as a whole has seen a huge transformation since joining the EU. Low taxes, English speaking and on the door step of Europe attracted large amounts of foreign investment, unemployment fell and the cities grew in population. Demand for housing became stronger by the year and the Irish economic landscape has been changed forever.

In the last couple of years Irish property prices seemed to defy all logic, even when yields dropped to around the 2-3% mark, they just seemed to keep on rising.

This of course had to stop at some stage.

In 2008 property prices began to fall, credit became much more restricted and the short term outlook in 2009 looks bleak.

In the medium term once the market has settled and refound its level we expect the market to do well again. In the meantime many of the Irish are buying up Central and Eastern Europe.