The Republic needs 93,000 new homes a year up to 2031 to tackle its chronic housing crisis, analysts say.
Dublin stockbrokers Davy calculate that demand for new homes has hit 230,000 following a “disappointing” 2024 for residential building.
Analysts at the firm estimate that the Republic will need 93,000 new dwellings a-year up to 2031, when they predict the population will hit six million.
“Ireland’s housing crisis has arrived at a critical juncture,” warns the firm’s report, Reforms needed for housing delivery.
“With each passing year and the fundamental problems remaining unresolved, both pent-up demand for housing and the scale of the challenge have grown larger.”
Kevin Timoney, chief economist, with analysts Colin Sheridan, Diarmaid Sheridan and Thomas Ryan, urge the new Government to axe rent caps, cut building costs and streamline planning.
They forecast that the cost of solving the crisis could hit €40 billion by 2031.
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The report highlights the potential for Davy clients, housebuilders Cairn Homes and Glenveagh Properties, and banks AIB, Bank of Ireland and Permanent TSB, to cash in on the crisis.
It notes that the builders could provide social housing while the banks could boost mortgage lending.
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