Sunday 23 April 2017

Property prices will increase sharply again in 2017

Some policy changes made last year will create a two-tier market, increasing property demand - and prices

'There is an excessive focus on the 'starter home', however. In fact, when you look at Ireland's demographic structure, there are close to enough family homes in the country to cater for our families. What Ireland lacks - more than any other high-income country - is apartments' (Stock picture)
'There is an excessive focus on the 'starter home', however. In fact, when you look at Ireland's demographic structure, there are close to enough family homes in the country to cater for our families. What Ireland lacks - more than any other high-income country - is apartments' (Stock picture)

Ronan Lyons

In 2016, there were a number of important policy shifts in relation to property in Ireland, particularly in the final few months of the year.

The first was the creation of a Cabinet-level Minister for Housing, a sign that - with the change of government - the severe shortage of housing was finally being taken seriously by those in power.

The second substantive change was the long announcement, from about mid-summer until the Budget, of "help" for first-time buyers of newly built homes in the form of a tax rebate.

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