The total number of new buildings completed during the first six months of 2008 is down 57 per cent compared to the same period a year ago.
According to new figures released today by GeoDirectory, a company jointly established by An Post and Ordnance Survey Ireland, the number of residential and commercial buildings completed across the country totalled 26,289. This compares with 60,781 buildings finished during the first six months of 2007.
"The slow down in new additions is reflective of a more cautious approach by developers who seem to be meeting demand rather than anticipating future need," said Dara Keogh, general manager at GeoDirectory.
The highest increase in completed new buildings was recorded in Cork city and county where 2,893 residential and 135 commercial properties were finished this year.
Monaghan recorded the lowest number of additions with just 299 residential and just 12 commercial properties completed in the first six months of 2008.
GeoDirectory predicts that approximately 40,000 residential and commercial buildings will be completed across the country this year, compared to 80,000 in 2007.
The new additions for the first six months bring the total number of buildings in Ireland to 1,846,896.
