Most of the real estate is traditional houses and townhouses with three bedrooms and a plot, and now more and more young people living alone or as a couple want to live near the center in a modern apartment and they don’t need a plot and extra bedrooms at all.
In Ireland there is no tax on properties that no one lives in, so about 15% of buildings in the country are empty. If you compare this with the number of homeless people, it turns out that for each of them there are approximately 35 empty houses. There is even a term for ghost houses – a large number of empty properties that were built during the Celtic Tiger era.
The 2008 crisis hit Ireland at a time when construction in Dublin was in full swing, and money had just reached other cities. And now, more than ten years later, construction in Cork, which suffered the most from the crisis and stood in a half-finished state, resumed.
Landlords began to remove advertisements for the rental and sale of real estate in anticipation of better times.