Demand for apartments 'higher' than for houses, says head of building firm

On average, Cairn Homes sold each apartment for €380,000 - up from €377,000 year-on-year - while the average home sold for €417,000 - down from €427,000

Michael Stanley, chief executive of Cairn Homes, said the delivery of apartments is not meeting the demand that is out there. 

The chief executive of one of the country’s largest homebuilders has said the demand for apartments is as high as it is for three-bedroom semi-detached homes as the company posts an operating profit of €150m for the 2024 financial year.

The company said that 66% of the 2,241 units it sold last year were apartments - compared to 41% during 2023 - while the proportion of units sold that were homes dropped to 21% from 43%. The remaining 13% of units sold last year were duplexes.