According to the SCSI, the average cost of constructing a two-bedroom apartment ranges from €480,000 in suburban medium-rise schemes to €650,000 in an urban development. Photograph: Getty ImagesThe latest report from the Society of Chartered Surveyors of Ireland (SCSI) on apartment costs here perfectly encapsulates the circular nature of Ireland’s housing problem. The only way we’ll get housing supply up to the 50,000 units-a-year mark, the Government’s target rate, is to build higher-density housing, including apartments. But it remains to be seen if building high-cost apartments will do anything to square the affordability circle at the heart of the country’s housing challenge. The declining rate of home ownership has created an oversubscribed rental market, which these new apartments will presumably feed, with rents seemingly on an inexorable path upwards.

Source: The Irish Times December 11, 2025 18:03 UTC