Despite high property prices and rents, Eurostat finds Ireland faring much better when it comes to affordability
As the new government takes shape, addressing challenges, particularly housing, will soon be firmly back on the agenda.
Housing costs, which according to Eurostat include the cost of water, electricity, gas and other fuels, were also higher in Ireland than in other non-EU countries such as Iceland and Norway – both known for their high cost of living. Only one country considered by Eurostat has higher housing costs than Ireland, Switzerland, which is outside of the EU. But even there, the gap is narrowing.
That is the third-highest figure across the Eurostat dataset behind Estonia and Lithuania. It is also far higher than the EU average of just 22 per cent. This compares favourably with other high-cost economies. In Denmark, the overburden cost is 23 per cent in cities, while in Luxembourg it is 22 per cent. And in Switzerland, it’s 20 per cent.
Significantly however, this is a figure in flux. Just one year earlier, the figure for ownership was closer to 71 per cent while back in the early days of the Celtic Tiger in 2004, the figure reached a peak of 81.8 per cent, according to Eurostat. Irish city dwellers also have the highest proportion of people living in a house at 81 per cent. This compares with just 33 per cent in France and 21 per cent in Germany.
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