IDEAS home Printed from https://ideas.repec.org/a/taf/rurpxx/v9y2016i2p204-218.html
   My bibliography  Save this article

The real estate bubble in Ireland. Policy context and responses

Author

Listed:
  • Brendan Williams
  • Zorica Nedovic-Budic

Abstract

The impact of surges and corrections in residential property prices has been a feature of many international economies in the past two decades and was pronounced as the global financial crisis evolved from 2007 to 2015. Many European states such as Spain and Ireland were severely affected by market corrections, having experienced major property-development surges in the decade to 2007. Factors associated with such surges include a rapid growth in housing demand both for occupation and for investment purposes, often supported by relaxed credit and monetary policy stances. Many jurisdictions, including Ireland, also experienced supportive fiscal regimes, which artificially boosted investment in property acquisition and development, and ineffective planning and zoning regulatory systems for major growth centres leading to sprawl-type patterns of development. Irish residential property prices were at the top range of such international price increases and corrections, with major consequences for the general economy and the property market. This article explores the policy context which shaped the boom and bust and the policy response in place for market recovery.

Suggested Citation

  • Brendan Williams & Zorica Nedovic-Budic, 2016. "The real estate bubble in Ireland. Policy context and responses," Urban Research & Practice, Taylor & Francis Journals, vol. 9(2), pages 204-218, July.
    • Handle: RePEc:taf:rurpxx:v:9:y:2016:i:2:p:204-218
    DOI: 10.1080/17535069.2016.1174401
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/17535069.2016.1174401
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/17535069.2016.1174401?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Eda Ustaoglu & Brendan Williams & Laura Petrov, 2017. "Scenario Analysis of Alternative Land Development Patterns for the Leipzig-Halle Region: Implications for Transport-Land-Use Sustainability," Urban Planning, Cogitatio Press, vol. 2(1), pages 108-129.
    2. Eda Ustaoglu & Brendan Williams & Laura O. Petrov & Harutyun Shahumyan & Hedwig Van Delden, 2017. "Developing and Assessing Alternative Land-Use Scenarios from the MOLAND Model: A Scenario-Based Impact Analysis Approach for the Evaluation of Rapid Rail Provisions and Urban Development in the Greate," Sustainability, MDPI, vol. 10(1), pages 1-34, December.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:rurpxx:v:9:y:2016:i:2:p:204-218. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/rurp20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.