The housing crisis in Dublin has become increasingly severe over the years. With rising prices and a limited supply of homes, finding a place to buy or rent has become a daunting task. People looking to buy a home face three main challenges:
Saving for the Deposit: In Ireland, the deposit required to purchase a home is usually between 10% and 20% of the property’s value. Given the rising prices in Dublin, saving such a large amount can be extremely difficult, especially for those with other financial obligations. High demand has driven property prices up, making it even harder to save enough for a deposit.
Getting a Mortgage: Securing a mortgage can be tough, as banks conduct thorough checks on applicants’ financial histories. This process is even stricter for individuals with unstable incomes or less-than-perfect credit scores. The recent rise in interest rates has made loan repayments more expensive, creating another hurdle for potential buyers.
Housing Shortage: Dublin faces a severe housing shortage due to the growing population and lack of new construction. Many homes on the market are old and require significant renovations, making affordable options scarce. Public housing has not kept pace with demand, leading to long waiting lists and forcing many to rent instead of buy.
As a result, the cost of renting has also skyrocketed, contributing to the rise in homelessness and prompting protests across the city.
If you’re ready to search for a house, the internet offers convenient tools to get started. Some of the top-rated websites for finding homes to buy in Ireland include:
Daft.ie
MyHome.ie
Rent.ie
Property.ie
Let.ie
These platforms make it easier to explore available options and find a property that fits your budget and preferences.
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