Consider buying a property abroad
As a result of the recent economic boom, housing stock in Ireland is in no short supply. However, it is being rapidly snapped up from an unusual quarter as research shows that 40% of first-time buyers in Ireland last year actually hailed from Asia!
Not unlike the UK, new houses in Ireland are small and have been ranked 10th in size among EU member countries. But despite their size and limited floor space, the increased supply of housing has created some market stability, although it is also causing problems higher up the property ladder. As first-time buyers seek to trade up their property in order to gain more space, a dwindling supply of housing at the top end of the market is causing house prices to spiral upwards; so many families are now unable to find larger, higher-quality homes at realistic price levels. In fact, recent research on worldwide urban property markets Dublin as one of many areas deemed to be severely unaffordable.
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