02 Feb Market Growth – Property Development Loans in Dublin
The devastation that the 2008 crash brought upon the Irish property development market is no secret. In fact, there were conversations about whether it would ever recover.
Of course, there are half glass full and glass half empty people. The dire impact on the Irish economy did, to some extent, feed the pessimism of the glass half empty folk. The availability of property development loans in Dublin are now emerging as new growth is stimulated in the recovery.
Irish Recovery from the 2008 Crash
The Irish government nevertheless displayed a spectacular courage and strategy to resolve the economic crisis of the time. In fact, the admirable recovery is often cited by economists worldwide about to do something right.
The one very evident consequence was the stagnation of property development in the immediate aftermath of the 2008 crash. This lead, in subsequent years, to a high demand for property simply to accommodate population growth and movement.
Together with the progressive recovery, the Irish government empowered the property development loan as a phoenix rising from the ashes. Although there are slight fluctuations in growth, the Irish property market remains promising. Property development has again become a favourable investment.
UK Political Activity
It could be argued that political activity across the Irish Sea, such as the UK referendum on Brexit, has influenced this growth even further. Together with Ireland’s apparent political stability, the capacity of her government to lift the country out of economic crisis and ongoing growth, Ireland is becoming a favourite investment location once again. The demand for property development loans has resurfaced in the Irish Republic.
Demand for Property Development Loans in Dublin
Mainstream banks continue to have stringent criteria that will sometimes exclude property developers that need more flexible lending. Irish property developers continue to look for funding outside the high street and private funding has become available again.
Funding for commercial and residential property development loans in Dublin is reaching new levels in terms of demand. This could be because the proximity to the UK makes Ireland an attractive investment without all the speculation surrounding the Brexit process.
Ireland desperately needs an increase in available property. As developments increase, the demand for property will grow, fuelling the development market. There are those that argue that the uncertainty in the UK will have a negative impact on Ireland. Thus far it seems that the opposite effect has taken place.
Property Demand and Price Increases
Ireland needs more homes than it has available. There is substantial government sourced funding available for social housing. There is also a clear demand for private investment in property development loans.
The rise in house prices is indicative of this growth and the expected continued growth over the forthcoming years. If anything, Ireland is set to boom. Those looking for a way around the UK departure from Europe will look to their closest neighbour for resources and business growth.
Get a Good Broker
Experienced brokers are once again able to source some of the best Irish Property development loans in Dublin for investors seeking to develop and make a sound profit on property development. It’s a win-win situation for both the borrowers and the lenders. Even while mainstream banks are avoiding being drawn into the demand.
Belgravia Property Finance can source funding for developers and refer excellent development prospects to private financiers. With exceptional experience and a sterling reputation, they are a really good choice for advice and support.