As another busy year draws to a close, we have taken the time to reflect upon and review the local residential property markets for the first nine months of the 2021.
Sales continue to rise
Total sales for Jan – Sept 2021, of just under 1,100 sales. This represented an increase in excess of 280 transactions when compared to the first nine months of 2020.
There were minor variances in the price brackets. Most notably we saw a 2.5% drop in the number of transactions between 0 and €100,000, when compared to the same period in 2020 and a 2% increase in transactions at over €400,000.
Properties in the €100,000 - €200,000 price bracket accounted for just over 40% of all transactions.
Demand outstripping demand
As many of our buyers will have experienced, supply remains a serious problem within the marketplace, and it is unlikely there will be a sufficient increase in 2022 to meet with the current level of demand. We predict assume continued appreciation in values throughout 2022.
However, there is some good news with the construction of at least four new home developments commencing throughout next year across several different locations in the city, ranging in price from circa €285,000.
Conor Purcell, Director at Purcell Properties, says “Overall, the residential property sales market remains buoyant, and we anticipate an equally busy, if not busier 2022.”