Demand, supply and purchasing power: Why the outlook for Irish residential and commercial property is bleak

Changing working and consumption patterns will hit commercial property badly, while the lack of purchasing power for first time buyers will dampen the residential market. I have picked my way through the data, and the leading indicators are not good.

23rd Jul, 2020 - 9 min read

Covid-19 is likely to have some lingering effects on all aspects of socio-economic activities in Ireland, from our ability to compete for foreign direct investment to our perceptions on personal insolvency and from our attitudes to education to workplace preferences. Name any aspect of our lives, no matter how profound or trivial it may be, and the scars of the Covid-19 pandemic are already changing what we consider to be the norm.

Not surprisingly, the Irish property market is unlikely to be untouched by the events that have transpired since the start of March. Although we are yet to see much of the official statistics on the shape of property markets,...

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