The Irish Times reports:
“First-time buyers need to be earning nearly €100,000 a year to secure a mortgage for a new home in Dublin, a report by KBC Bank has indicated.
“The study found that the price of new homes purchased by first-time buyers has “virtually doubled” from about €200,000 to €380,000 since 2012. This has eroded affordability for first-time buyers, it said.
“A first-time buyer or a dual-income first-buyer household availing of a 90 per cent loan-to-mortgage would typically need an income of €98,000 to qualify, the report noted.”