A study by IIB Bank's mortgage division has said that migration is boosting demand for housing in Ireland by far more than is usually thought to be the case.
Economist Austin Hughes said booming immigration might require as many as 25,000 extra homes a year. Citing travel statistics, he said there may be far more 'guest workers' that migration statistics indicate.
Hughes also said SSIAs could boost demand for housing by around 16,000 in the next couple of years, as many people appeared to view SSIAs as property savings accounts.
He added that interest rates could remain at current levels until at least September next year. The study was prepared by IIB Homeloans for its mortgage brokers.
