The Dublin housing crisis does not seem to end. In January, we showed a garage being sold for €59,000. In the past few weeks, a small house in Glasthule, on the south coast of Dublin, has been advertised for €475,000 (about 2.8 million reais). The announcement resonated with the Irish Reddit community, with many users making jokes about the situation.
The 65m2 property, which was recently renovated, has two bedrooms, a bathroom and a garden in the back. Despite the location – Glasthule is an upscale neighborhood with many attractions – the price is too high for such a small house. For the same price, it is possible to buy a 5-hectare farm with a 7-bedroom house in Leitrim, inland Ireland.
Despite the crisis, the housing market is showing resilience, registering a drop of just 2.6% in prices in Dublin in the second quarter of 2020, according to a study by the website MyHome.ie. The average price of a property in the capital is € 320,000.
The small variation in prices can be explained by the reduction in the number of properties advertised in recent months. There was a 64% drop in the number of ads compared to the same period last year. According to Conal MacCoille, author of the study, the effects of the pandemic may take time to appear.