Limerick’s housing market is booming, attracting buyers from across Ireland. With rising property values, a strong job market, and an excellent quality of life, the city is becoming an increasingly desirable place to live. In this article, we’ll explore why Limerick’s real estate market is on the rise and what buyers can expect in terms of prices and availability.
Rising Property Prices in Limerick
In 2024, Limerick City recorded the highest increase in property prices among Irish cities. The average home price reached €292,253, marking a 12.5% rise from the previous year. According to market projections, house prices will continue climbing in 2025:
- Limerick City: Expected to increase by 10%, bringing the average price of a second-hand three-bedroom semi-detached home to approximately €320,000.
- Limerick County: Anticipated to rise by 8%, reaching an average price of €260,000.
Why Are Prices Rising?
- Limited Supply: The number of second-hand homes available for sale in Ireland dropped by 18% year-on-year. In June 2024, only 11,350 homes were on the market, less than half the 2015-2019 average of 25,000.
- High Demand: More people are looking to buy in Limerick due to its affordability compared to Dublin, Cork, and Galway.
- Bidding Wars: Due to the housing shortage, buyers are competing aggressively for properties, pushing prices higher.
What’s Driving Limerick’s Property Boom?
Several factors are making Limerick a property hotspot:
1. Strong Employment Opportunities
Limerick’s job market is thriving, with multinational companies expanding their operations. The city is home to a growing number of tech, finance, and pharmaceutical firms, attracting professionals from across Ireland.
2. Top-Tier Education and Research
The University of Limerick (UL) and other higher education institutions make the city attractive to students, academics, and families.
3. Affordable Lifestyle & Quality of Life
Compared to Dublin, Limerick offers lower living costs, a vibrant cultural scene, and stunning natural landscapes along the River Shannon. With excellent schools, restaurants, and entertainment options, the city provides an outstanding quality of life.
4. Excellent Transport and Connectivity
Limerick benefits from strong transport links, including:
- Easy access to the M7 motorway for travel to Dublin.
- Well-connected public transport options.
- Shannon Airport, which offers international travel options just 20 minutes away.
Final Thoughts
Limerick’s housing market is on an upward trajectory, with rising prices and increased demand making it one of Ireland’s most attractive property markets. Whether you’re a first-time buyer, an investor, or looking to relocate, now is a great time to explore the opportunities in Limerick’s real estate market.
Looking to buy a property in Limerick? Keep an eye on the market trends and act fast – demand is only growing!
