Construction starts in Ireland continue an upward trend, driven in the most part by a strong residential sector and by a strong Irish economy, bucking trends in the wider European market. In 2023 new project starts rose by 18% from the previous year and further double-digit growth is expected in 2024 (16%) and 2025 (11%) before levelling off in 2026.

As the shocks from the pandemic and global unrest wane, Ireland finds itself in a strong position, where the strong economic performance in 2022 has continued with growth of 2% predicted out to 2026. Headline inflation is decreasing faster than previously anticipated driven by an easing of global energy prices.

The Irish labour market remains strong with unemployment close to historical lows, a strong factor influencing consumer confidence and spending. This year, pay increases outpaced inflation for the first time since 2022. Ireland however remains vulnerable to external global threats and uncertainty persists around corporation tax revenues

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