According to recent analysis by real estate adviser Savills, the arrival of new dwellings in Ireland was outpaced by the country’s population growth between 2015 and 2023 by a ratio of over four to one, reports RTE.
Although Savills noted that Ireland is an exception in terms of the severity of the housing supply problem, shortages of homes exist around the world.
It stated that between 2015 and 2023, the ratio of population increase to housing delivery was roughly four to one, with an additional 3.8 persons being added to the population for every new housing unit provided, reports RTE.
This is by far the worst of all the nations examined, according to Savills, and 14% worse than Spain, which had 3.4 new residents for every new unit supplied, and Canada, which had a ratio of 2.9.
Ireland’s ratio was double that of Australia (1.9 ratio) and 80% worse than that of the UK (2.1 ratio).
Furthermore, compared to Germany, which had a ratio of fewer than one person (0.9) for every new housing unit provided, and the United States (1.5), it was noticeably worse, reports RTE.
Therefore, even if housing shortages are a recurring story in developed western countries, Ireland’s situation truly stands out due to its extreme severity.
Australia is doing somewhat better than Canada, which, like Ireland, is having difficulty keeping up with population growth (2.9 population increase per new family), with a ratio of 1.9 for population to new housing growth, reports RTE.
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