Increasing Irish population may affect property prices and rents

The population of Ireland could reach 5m by 2031. Dublin’s population alone could reach over 1.5m, according to CSO figures released.

This projected Dublin population could see an increase of over 400,000, and an overall country increase of over 613,000. Surprisingly, the largest increase is expected in the mid-east – up to 27% in areas such as Kildare and Meath.

The CSO report represents evolution assumptions based on migration patterns and fertility. It is this population growth that may be putting upward pressure on property prices and rents in Dublin at the moment.

The regional population projections were last published in 2008 and the Dublin population was projected to be 1.659 million in 2026, compared to 1.519 million by 2031 in yesterday’s report.

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Knight Frank

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