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The return of the Celtic Tiger: Ireland’s residential market has momentum
- June 1, 2024: Vol. 18, Number 6

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The return of the Celtic Tiger: Ireland’s residential market has momentum

by Philipp Langbehn

Some may remember the term “Celtic Tiger” — referring to an era of rapid economic expansion in Ireland from the mid-1990s to the late 2000s. Fuelled by foreign direct investment, the country experienced exceptional growth during that period, transforming it from one of Western Europe’s poorer countries into one of its wealthiest.

Now, a similar scenario is driving growth in the Irish economy. Ireland has seen the strongest gross domestic product (GDP) growth in the euro zone in recent years. Despite economic headwinds, economic growth is expected to be 1.2 percent in 2024 and 3.2 percent in 2025 — significantly higher than the euro zone averages of 0.8 percent and 1.7 percent, respectively — according to the latest estimates by the European Commission.

Ireland’s economy is highly diversified and supports employment in knowledge-intensive and high-technology sectors. For years, Ireland has positioned itself as a destination for multinationals with its stab

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