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.
The housing market in Ireland has been chronically undersupplied for the past decade with strong demand underpinned by a number of factors.
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).
€378,000
| FTB Monthly Mortgage Cost | Monthly Rental Cost |
Purchase price
€378,000 |
Lucan
€2,250 |
Mortgage – 90% LTV
€340,200 |
Citywest
€2,375 |
Mortgage interest rate
2.30% |
Newcastle
€2,000 |
Malahide Road
€2,250 |
|
|
Monthly Mortgage Repayment (30 year C&I) €1,309 |
Average
€2,350 |
Cheaper to own
€1,041 |
More Expensive to Rent
+80% |
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.
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
2021 Annual Report
