Fiona Reddan, in the Irish Times, reports:
“First-time buyers are struggling to get on the first step of the property ladder as a result of a significant increase in the down payment required to fund the property transaction.”
“According to figures from the Banking & Payments Federation Ireland (BPFI), the average deposit needed to buy a property in Dublin has more than doubled to €51,000 as of the end of 2015, a level of savings which may be out of the reach of many.”
“…The new regulations mainly affect those looking to buy property in the larger metropolitan parts of the country, where a deposit of 80 per cent is needed for property purchases for first time buyers on the portion in excess of €220,000.”
Soaring deposits puts houses out of first-time buyers’ reach (The Irish Times)
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