Buy Now, or Never? The Reality of Dublin’s Property Market

Buy Now, or Never?

Every time a new property listing hits the market in Dublin, the same complaints flood the conversation. "Absolute rip-off," "No way that's worth it," "I'll wait until prices drop." And yet, as people moan and refuse to engage, someone else comes along and snaps it up, further fueling the cycle that has defined Dublin's property market for years.

The reality is harsh but simple: Dublin's property market is expensive because demand vastly outstrips supply. And while it's understandable that many feel priced out or even cheated, the cold truth remains—this is the market we live in. Wishing it were different doesn't change the fact that as long as people are willing to pay these prices, they will remain high. The only question is, do you accept that and make a move, or do you sit on the sidelines and hope for a crash that may never come?

It's easy to see why frustration is at an all-time high. The average house price in Dublin is now well above €400,000, with prime areas pushing well into seven figures. Rents have skyrocketed alongside it, making saving for a deposit nearly impossible for many. And yet, despite all of this, people are still buying. Why? Because Dublin isn't just expensive—it's overcrowded, and with that comes an unrelenting demand for housing.

Take a simple comparison: try booking a restaurant in Dublin on a Friday night. The city was designed to accommodate a population of around one million. Today, we're closing in on 1.5 million. The result? Overbooked restaurants, packed transport systems, and most crucially, an extreme shortage of homes. There simply isn't enough space to go around, and those who can afford it will always outbid those who can't.

For those feeling locked out of the market, the anger is completely justified. It's an unfair system. Wages haven't kept up with property inflation, and many hardworking people now find themselves unable to buy a home in their own city. But anger alone won't change the landscape. The government's slow approach to housing policy, excessive red tape around development, and a complete failure to regulate estate agents have all contributed to this crisis. And yet, people continue to underestimate the role of one fundamental issue—overpopulation.

The argument that "I'll just wait for prices to come down" ignores the most basic economic principle: supply and demand. Prices won't drop unless demand eases significantly, and that simply isn't happening. If anything, as more international buyers enter the market and rental yields continue to increase, demand is intensifying. Large investment funds have also identified Ireland as a profitable market, snapping up entire developments before they even hit the open market. This isn't a temporary bubble—it's a structural shift in how property is bought and sold in this country.

And let's not forget about estate agents. A quick glance at EasyOffer.ie will show you just how much they stand to gain from all of this. Many are pocketing staggering commissions, thriving in an environment where every sale means an even fatter paycheck. Yet, there is virtually no meaningful regulation over how they operate, and many are incentivized to keep prices high, playing on buyer desperation and fueling bidding wars. If the public really wants change, they should be demanding transparency and stricter oversight over these agents rather than complaining about a market that isn't going to bend to their wishes.

None of this is to say that people should be forced into making reckless financial decisions. If you genuinely cannot afford to buy, then of course, you shouldn't. The system is fundamentally broken for many, and the government has done little to offer real solutions beyond ineffective schemes that mostly serve to push prices even higher. But for those who can afford it and are simply waiting for "the right time"—when exactly do you think that will be? Dublin's property market has been "overpriced" for years, and yet prices continue to climb. If you're serious about buying, the harsh truth is that the longer you wait, the harder it will get.

This is not an easy reality to accept, but it is reality. You can shout about how unfair the system is—and you'd be right—but unless something radical changes, complaining will get you nowhere. The best thing prospective buyers can do is arm themselves with information, compare estate agents, and take advantage of valuation tools like EasyOffer.ie to make the most informed decision possible. Because while the market isn't fair, it also isn't waiting for anyone.