Planning permissions for flats in Ireland have jumped 80% in the past year, according to the country’s Central Statistics Office.
The rise in permissions follows amendments to the apartment planning guidelines in March 2018, which made it cheaper for developers to build by allowing them to increase the number of units.
The CSO said planning permissions were granted for 10,590 homes in the third quarter of 2019. Of these, 5,656 were apartments and 4,934 were houses.
Overall, this marks a 32% increase on the same period last year, including an 80% hike in apartment permissions and a 1.1% increase in house permissions.
The news comes amid a rise in interest in Dublin’s rental market. Last week, Hammerson, on behalf of the Dundrum Partnership, received planning approval for 107 flats in Dundrum, South County Dublin.
The building will mark Hammerson’s first move into residential development in Ireland.
Others closing in on the city’s residential market include Patrizia and Greystar.
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