Irish property and banking trends move towards a more European model, says legal expert – Irish Examiner

IRISH property trends are moving towards central European models, with a rising openness to rental accommodation and new alternative financing options.

While largely driven by market forces, these are broadly welcome shifts for Irish business and society, says Libby Garvey, head of banking at law firm Eugene F Collins.

“We are seeing more families renting their homes rather than home ownership necessarily being a primary goal for life,” said Libby Garvey. “We all know that Ireland has a traditional culture when it comes to land ownership, but we are seeing societal change.

“We are seeing more co-living, people living in individual apartments and sharing recreational spaces. We are seeing a lot more shared recreational spaces in the private rental sector (PRS). It’s more of a central European model, or perhaps like the US, which I think is a welcome change.”

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