DUBLIN: A study found that Ireland’s housing crisis can only be solved if 40,000 new homes are built each year over the next few years. As per Initiative Ireland’s annual housing report, the situation must be created in order to maintain the status quo and not exacerbate the existing supply shortage.
If the current national housing target of delivering 33,000 houses every year by 2030 is met, the current annual shortfall in housing construction will be 49,000, and the target will need to be increased.
Despite a 40% increase in new homes and apartments completed last year, the analysis concludes that the country has fallen short of its housing needs, with a total of 28,000 homes built last year.
Initiative Ireland is advocating for a complete overhaul of the planning process, which could result in a 300% increase in planning approvals over the next five years.
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