Only a Small Share of New Homes in Ireland Reach the Market
Only a limited proportion of newly built homes in Ireland’s largest cities are reaching the open market for sale, according to data from the Central Statistics Office. The gap between construction and completed sales is most pronounced in Dublin and Cork, highlighting the growing dominance of rental-focused developments.
Dublin Sees Just 4% of New Builds Sold
Within the Dublin City Council area, 4,521 new houses and apartments were completed last year. However, only 208 were sold on the private market, representing just 4% of total completions.
Apartment developments illustrate the trend clearly. Of 4,325 apartments completed, only 150 have so far appeared on the open market. The CSO notes that many dwellings are not intended for sale, reflecting the strong expansion of the build-to-rent sector and acquisitions by Approved Housing Bodies for social housing.
Over the past decade, the proportion of newly built homes coming to market has steadily declined as Ireland increasingly delivers housing for rent rather than ownership.
Cork Records Even Lower Sales Ratio
Cork presents an even sharper imbalance. Of 1,499 newly built homes and apartments completed last year, only 30 were sold on the open market, equivalent to roughly 2%.
In contrast, neighbouring Fingal County Council, covering north Dublin and Blanchardstown, recorded a significantly higher share of market sales, with 38% of more than 3,500 new homes sold to private buyers.
Regional and Commuter Belt Markets Show Higher Availability
The picture is more balanced in smaller cities. In Galway City, nearly 30% of new builds reached the market, amounting to 121 sales from 415 completions. In Waterford, approximately one in four new homes were sold.
Dublin’s commuter belt shows some of the strongest figures for private market sales. Wicklow and Kildare both exceeded the 50% mark, while County Louth recorded 43% open market sales from 1,541 newly built homes.
Build-to-Rent Expansion Reshapes Supply
Apartment construction has surged over the past decade, but the expansion of build-to-rent projects means fewer units are available for individual buyers. A substantial share of new developments is acquired by institutional investors or Approved Housing Bodies rather than entering the open sales market.
The Department of Housing states that the government is committed to maintaining a level playing field for traditional family home buyers while facilitating investment in high-density apartment developments to support rental demand. First-time buyers purchased 7,544 new homes in the year to December 2025, marking an increase of almost 24% year on year.
Officials emphasise that institutional investment is a standard feature of housing markets across Europe and is considered essential to sustaining supply. Without such investment, overall housing activity would be lower and pressure on renters and prospective homeowners could intensify.
As experts from International Investment report, Ireland’s housing supply structure is increasingly shaped by rental-oriented and institutional models, limiting the number of new homes available for private ownership in major cities and reinforcing structural imbalances in the property market.