Apartment completions surged 41% in early 2023

Wed, 26 Apr, 2023 - 12:34

Cillian Sherlock, PA

More than a third of homes built in the first three months of 2023 were apartments, according to new figures from the Central Statistics Office (CSO).

The CSO examined new dwelling completions, which are described as recently constructed self-contained units of living accommodation.

There were 6,716 new dwelling completions during January, February and March – representing a 19.1 per cent increase over the same period in 2022.

There was a 41 per cent rise in apartment completions compared with the same three months last year, to 2,427.

Over a third of new dwelling completions were apartments in Q1 2023https://t.co/vpKdqQ583h #CSOIreland #Ireland #Housing #HousingConstruction #HouseBuilding #NewDwellings #IrishBusiness #BusinessStatistics #BusinessNews pic.twitter.com/NYMIdm0rYC

— Central Statistics Office Ireland (@CSOIreland) April 26, 2023

This means apartment completions in the quarter were more than double what they were three years ago and more than five times higher than five years ago.

More than a third of all completions in the first quarter of 2023 were in Dublin, including more than three-quarters of all apartment completions.

The highest number of completions by local electoral area was 332 in Rathfarnham-Templeogue.

CSO statistician Justin Anderson said: “Six of the eight regions of Ireland saw an increase in completions from Q1 2022 to Q1 2023, with small drops just in the Midlands (Laois, Longford, Offaly, and Westmeath) and South East (Carlow, Kilkenny, Waterford, and Wexford) regions.

“The relative increase was greatest in the South West (Cork City and County, and Kerry) at 37.3 per cent and the West (Galway City and County, Mayo, and Roscommon) at 30.7 per cent.”