The construction sector has come through a particularly turbulent time over the last decade. However, it remains central to the strength of the Irish economy.
In recent years the sector has been transformed, with a range of new entrants such as international funds, listed property vehicles and private equity funds challenging the dominance of the traditional property developer within the market.
With the announcement of the National Development Plan Project Ireland 2040 and the influx of new multinational players into the country, there are significant opportunities for companies looking to invest in property and construction projects.
The following table outlines the estimated demand against forecasted completions of residential units through to 2021. The data highlights the large shortfall in supply which creates opportunities for property companies in the market.
As with many other industries, the construction sector is not without its challenges:
- A shortage of skilled workers
- Limited access to suitable finance
- A lack of development opportunities
- Increased competition
- Rising land and construction costs
- Increasingly tight project margins
At Crowe, we understand the issues facing the industry. Our team of specialist property and construction experts work closely with a wide range of businesses across the sector, including developers, construction firms, investors, funders, professional firms and the public sector to overcome the challenges and maximise the opportunities they face. We specialise in providing integrated solutions with a responsive service that is centred around you and your needs.
Find out more by downloading our brochure or by contacting a member of our property and construction team.
