Couple must earn up to €125k to afford city apartment

A working couple who are first-time buyers would need to earn between €100,000 and €125,000 to afford a new two-bed apartment in a city, with the affordability gap, and housing shortage, threatening economic and employment growth.

A working couple who are first-time buyers would need to earn between €100,000 and €125,000 to afford a new two-bed apartment in an Irish city, with the affordability gap, and housing shortage, threatening economic and employment growth.

That’s according to a report released today by economic consultants EY-DKM, which found the current cost to build a two-bed apartment in locations like Cork City, docklands, or suburbs is between €389,000 and €486,000.