Ireland Real Estate Prices’ Dynamics 2019

Ireland Real Estate Prices’ Dynamics 2019

The data of the Central Statistical Office show that the rise in housing prices in Dublin slowed to 1.9% on an annualized basis, although the situation varied from a rise of 4% in South Dublin to 2.6% in Fingal. In general, in the city houses went up by 2.3%, and apartments by 1.6%. In the rest of Ireland, prices rose by 9.5% over the year: by 8.5% for homes and by 18.6% for apartments. The North-West (+ 16.5%) was the leader in this respect, and the Middle East (+ 5.1%) was in the last place, PropertyWire reports.

Overall, the national figure is 18.4% below the highest level of 2007. Prices in Dublin are 22.4% lower than in February 2007, and in the rest of Ireland – 21.7% which is lower than in May of the same year. Real estate in the country has risen by 82.1% of the lowest value in early 2013. In Dublin, growth was 92.3% compared with the February minimum of 2012, in the rest of Ireland – 80.1%, compared to May 2013.

Prices & construction 2019

The average price by January 2019 was € 250,000 for the whole country. The highest rate is in Dublin it is €368,000. The most expensive house and apartment costs are in the Dublin region Dun-Leare-Rathdown – € 537,370. The cheapest one is in Fingal – € 330,000. The highest average prices outside Dublin were at Wicklow – € 317,500 and Kildare – € 295,000. The lowest ones at Longford – € 98,370 and Leitrim – € 100,000.

The number of permits for the construction of new housing increased by 41% in 2018 compared with the previous year: + 30% for houses – up to 20,020 and + 73% for apartments – up to 9,220. The total number of permits was 26,580 compared to 25,080 in 2017, which is 6% more.

Taxes & rules

Ireland is a country where the tax rate is one of the lowest in Europe – 12.5%. Such tax policy as a magnet attracts investors to the country. In Ireland, when buying a property, it is customary to use mortgage schemes. Mortgage rates are the same as in neighboring Great Britain and range from 3 to 5% per annum.

Without any restrictions, only citizens of the country or citizens of the European Union can buy property in Ireland. For all other customers, there are restrictions. A non-resident may acquire in his property no more than 2 hectares of land. Foreigners can freely dispose of their property in Ireland, that is, mortgage, alienate, and lease foreigners, provided that they have lived in the country for at least seven years without a break.

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