Irish Estate Agents Industry Review 2006

This report outlines the key issues and the subsequent technology responses currently present in the Estate Agents industry. The main issues and challenges relate to socio-economic factors such as interest rates, inflation, inward migration and urban sprawl. The economic development that has transformed the Irish economy over the last 20 years has brought about an array of economic and social concerns which include the rising cost of business operations and rental properties particularly in the retail business sector. Other such concerns relate to the upward inflationary pressures which are directly attributed to governmental regulation and consumer demand. Favourable tax incentives have further encouraged Irish investors to opt for property investment instead of equity investment and this remains to be a growing phenomenon. There are concerns about this over reliance on investment in the Irish property market due to the potential ramifications of a collapsing economy. Given the dynamics of the overall estate agent industry in Ireland, we have chosen some main areas which are greatly affecting the property market in order to outline some of the key issues facing estate agents in the Irish industry.