Ireland is facing growing criticism over its deepening housing crisis, as both renters and homebuyers struggle with soaring costs, dwindling availability and controversial property market practices.
The average rent across the country has now reached €2,053 per month – the highest on record – according to property website Daft.ie. In Dublin, tenants are paying an average of €2,540.
Housing supply remains critically low. As of early May, there were just over 2,300 homes available to rent nationwide – a 14% drop on last year and one of the lowest figures in two decades.
The crisis is fuelling chaotic scenes at new home launches. In Dublin last weekend, hundreds queued overnight – some in cars, others in sleeping bags – for a chance to purchase one of 40 three-bedroom houses priced from €480,000. All units sold out in less than two hours.
Homebuyers are also hitting out at bidding practices. Properties are often advertised at a set asking price, only for bidding wars to begin immediately, pushing up final sale prices by tens of thousands of euros.
One buyer told Sky News-style reporters: “It feels like a trap. You see the price online, but once you show interest, you’re told someone has already bid higher. Then the race begins.”
The Property Services Regulatory Authority, which oversees estate agents, requires transparency and fairness in property transactions. However, enforcement remains a concern and the bidding process is not formally regulated.
The government has pledged to increase housing supply, with a target of 50,000 new homes per year between 2025 and 2030. But progress is slow. In 2024, just over 30,000 homes were completed – well short of the target.
Banks have warned of a slowdown in housing development. Bank of Ireland and AIB say there’s a lack of viable projects due to planning delays and land issues.
Local councils have called for stronger measures. Mayo County Council has suggested a tax on empty holiday homes to push more properties into the long-term rental market.
As demand continues to outstrip supply, pressure is mounting on the Irish government to overhaul the housing system and protect both renters and first-time buyers from being priced out.
M10news
