City living could soon equate a lot more to apartment living.
New figures from Goodbody show that the number of apartments completed in Dublin is up 64% year-on-year.
Meanwhile, the number of housing schemes completed in the first three months of 2019 grew at its slowest pace in six years.
Despite the growth in apartments, they still represent less than one in five of the total completions of new homes.
Just 12% of our housing stock is apartments while the European average for cities is about 50%.
The build-to-rent sector will be the biggest driver of the growth in apartments, according to the report.
“Without this investment, it is likely that the output in the sector would be much lower in the coming period due to viability and funding constraints,” said Goodbody chief economist Dermot O’Leary.
A total of 4,255 residential units were completed in Ireland in the first quarter of 2019. This represents growth of 22pc year-on-year.