The mortgage market is seeing unprecedented levels, with first-time buyers borrowing an average of €290,000. This reflects a broader trend of rising costs amid property shortages.
Current price hikes mean the average home costs approximately eight times a person's annual salary, squeezing average-income earners out of the market.
Property prices have risen for 14 consecutive months, with a near 10pc increase year-on-year, significantly impacting the affordability for many potential homeowners.
The acute shortage of properties on the market is intensifying competition among buyers, particularly first-time buyers who are forced to bid against existing homeowners.
Collection
[
|
...
]