Speaking at the National Construction Conference in Dublin Lorcan Sirr,lecturer in the school of real estate and construction economics at Dublin Institute of Technology.gave a presentation of research which shows how the Irish property sector has fundamentally changed in a short space of time. House ownership has dropped dramatically to below 70% with the number of people renting now above 30% which is an increase of 50% since the end of the Celtic Tiger.
While house prices in Dublin are slowing rising the overall trend is still downwards.
Not taken into account by the CSO is that a whopping 40% of Dublin based house purchases are CASH purchases.
IMHO based on this report some people out there have money for these things are are creaming off and raking it in on the rents.
House ownership at 1950s levels, study shows | Irish Examiner