Market Overview

Cairn remains uniquely positioned to meet the growing demand for new homes across a broad and widening customer base and deliver on our growth agenda.

Our investment in the markets we serve

The Irish economy was one of the fastest growing economies in the EU in 2021 and this strong expansionary momentum has continued into the early months of 2022. With record exchequer returns in 2021, consumer spending has rebounded and is leading this economic growth.

Our investment <span>in the markets we serve</span>

Demand drivers
Demand drivers

The housing market in Ireland has been chronically undersupplied for the past decade with strong demand underpinned by a number of factors.


Number of people in employment at December 2021, representing Ireland’s highest ever labour market participation.


Household savings between April 2020 and December 2021.


collected by the exchequer in 2021.


value in 2021.


EU average mortgage interest rate on new mortgages is 1.29%.


value in 2021.

2021 Annual Report Market Overview

Owning Vs Renting

Cairn 3 Bed Starter Home Private Sales in 2021

Average selling price (including VAT) across Cairn developments in Dublin for first time buyers (“FTB”):

  • Shackleton Park (Lucan);
  • Gandon Park (Lucan);
  • Graydon (Newcastle); and 
  • Parkside (Malahide Road).



FTB Monthly Mortgage Cost Monthly Rental Cost
Purchase price




Mortgage – 90% LTV




Mortgage interest rate




  Malahide Road


Monthly Mortgage Repayment (30 year C&I)




Cheaper to own


More Expensive to Rent



Housing for All

Government’s “Housing for All” strategy to deliver 300,000 new homes by 2030. The Minister for Housing, Darragh O’Brien TD, launched the Government’s signature housing policy, “Housing for All” in September 2021. The plan commits to a €4 billion annual investment in housing and sets yearly targets across social, affordable and cost rental housing. 

Read More in our Annual Report 2021

Housing for All
The Multifamily Market

With eleven apartment developments completed or under construction comprising 2,000 units, Cairn is the self-build developer counterparty of choice for institutional investors.

We bring our experience and learnings to each new apartment scheme, including off-site manufacturing and modern methods of construction, and will continue to leverage these efficiencies on future projects.

Strong 2021 Multifamily Transactional Activity

Our Investment in Sustainable Homes

2021 Annual Report

Find more detail on the Irish Housing Market in our 2021 Annual Report

Download PDF

2021 Annual Report