ESRI Lowers Housing and Economic Growth Forecast for 2025

Ireland: The Economic and Social Research Institute (ESRI) has revised its forecast for housing construction and domestic economic growth for the year. This marks the second downward adjustment by a major organisation, following a similar revision by the Central Bank the previous week.

The ESRI now expects 33,000 homes to be completed in 2025, a reduction of 1,000 units from its earlier estimate. This figure falls significantly below the Irish Government's current target of 41,000 new homes for the year.

Speaking on RTÉ's Morning Ireland, Minister for Finance Paschal Donohoe said he believes a pledge to build 300,000 homes during the lifetime of the Government "is doable" but will be demanding.

Source: RTE