World, As Seen from the most beautiful islands: Ireland and Cyprus

Ryanair considers buying apartments to accommodate the staff


The housing shortage in Ireland is severe, making it very difficult for Ryanair staff in Dublin to find accommodation. Therefore, the Irish budget airline is considering buying apartments to house its employees.

Many large companies in the Irish capital rent hotel rooms for new staff. Recently, Ryanair, which employs over 3,000 people in Dublin at its major flight base and headquarters, had to rent student rooms to accommodate new colleagues.

Now, the company is contemplating taking a step further and purchasing apartments. CFO Neil Sorahan stated this on Monday during the presentation of the quarterly results to the Reuters news agency.

“Actually buying real estate is something new. I think it might be the right thing to do; it’s a good long-term investment,” said the financial director.

Many multinational companies, particularly in the tech sector, have expanded significantly in Dublin in the last decade. The Irish capital is an attractive location due to the relatively low tax burden in Ireland, good flight connections, and the fact that the population speaks English.

As a result, many expats have come to Dublin, but the housing construction has not been able to keep up with the demand. Strict spatial planning rules limit construction to only a few places, and changing zoning plans is a complicated and lengthy process.

Moreover, the previously low interest rates significantly inflated property prices. They have slightly decreased since then but still remain high. Obtaining a mortgage is challenging in Ireland; buyers are required to finance at least 10 percent of the purchase price themselves.

Therefore, in addition to Ryanair, other major employers in Dublin are now exploring the possibility of buying homes. Some have already done so.

Written by: Grace Kennedy

Grace Kennedy is a leading journalist, columnist of events in Ireland and beyond. 8 years in journalism, since she dropped out of university and ran away from home.

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World, As Seen from the most beautiful islands: Ireland and Cyprus

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