Ireland’s Housing Crisis is Adding Stress to Recruitment Abroad

Ireland’s acute housing shortage is causing serious stress for larger firms as they attempt to attract talent from abroad. The head of the country’s state agency for business, Enterprise Ireland CEO Leo Clancy, has declared it a “big pinch point” in recruitment efforts. On average, 40% of house sale instructions in the final quarter of 2022 came from landlords selling investment properties; meanwhile, house prices have risen 9.8% in the past 12 months alone.

The housing crisis has been fueled by a variety of factors including population growth and increased demand due to foreign investment. The government’s response to the crisis has been limited; while there are some measures being taken to increase affordability and availability, such as rent caps and new construction projects, these efforts are not enough.

In addition to making it more difficult for businesses to recruit talent from overseas, the housing crisis is also having an effect on local workers. Renters are being hit particularly hard; rents have skyrocketed resulting in many people spending too much of their income on housing costs and not enough on other essential items such as food and clothing. This is especially true in Dublin where rent prices have reached unprecedented levels compared with other cities across Europe.

As if this weren’t enough, the lack of available housing is also having an effect on employee retention rates. With so few affordable homes available, workers who decide to move elsewhere often find themselves unable to relocate due to a lack of suitable options nearby; this can lead them feeling stuck at their current job or feeling compelled to take whatever accommodation they can find regardless of its quality or cost.

The Irish housing crisis is creating serious stress for larger firms trying to recruit talent from abroad and for local workers trying to find adequate accommodation. Despite some measures being taken by the government in order to increase affordability and availability of housing, it is clear that more needs to be done in order for people living in Ireland—both those already here and those looking to move here—to have access to adequate and affordable homes. Until then, the housing crisis will continue adding further stress onto businesses attempting recruitment from abroad as well as locals seeking a place they can call home.