Explosive report claims it will take 43yrs to fill empty homes

Camelot, in partnership with VB&T Group invest in new joint venture: Corporate Housing Factory, providing corporate housing solutions in The Netherlands.

AN explosive report has claimed that Ireland has so many empty houses that it would take up to 43 years to fill them all.

Deutsche Bank figures suggest that there are 289,451 empty houses in Ireland, including almost 60,000 vacant holiday homes, representing a vacancy rate of 15 per cent.

"Demand for housing is the key factor as to how long it will take for this oversupply to be reduced, and aside from demand for second homes the key driver should be population growth," Deutsche Bank notes. Based on 2011 figures which showed population growth of just 13,000, and the average number of residents per house, the bank estimates that it could take until 2055 for the glut of houses to be worked through.

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