According to a new study by the Economic and Social Research Institute (ESRI), Ireland will need 28,000 new homes each year for the next 20 years at current population growth rates. Research predicts an increase of 9,26,000 (0.7%) per year in population. By 2040, the population will reach 5.67 million.
In the highs and lows of the year of international migration, the number of households that need housing will vary from year to year. As a result of immigration, the total population of Ireland will increase to 6 million.
The author of the report, Abian Garcia-Rodriguez, added that research shows that the economic situation in Ireland determines how the population moves.
It is expected that only 17,000 homes will be built in Ireland this year as the epidemic affects the construction sector.
Research finds that life expectancy increases
Research was also done on issues including longevity. Research shows that life expectancy increases regardless of gender. Research shows that the life expectancy of men will increase from 79.3 years to 83.3 years and that of women from 84.3 to 87.1 years.
Research also shows that the fertility rate will decrease from 1.8 to 1.6 by 2031.
Dublin Midland regions will have the fastest population growth in the next two decades (0.8% per year). Immigration to Ireland may be the main reason for this. Population growth is mainly expected through new arrivals.
Dublin’s population will increase by 28.4%. The Middle East region around the capital will also see an increase of 1% in annual population.
Compared to the population, Danley-Rathdown, Cork City, Meath and Kildare have the highest housing demand. Research shows that there is a relatively low demand for Mayo and Fingal.