A recent report from the Economic and Social Research Institute (ESRI) has raised alarms about the possibility that Ireland’s property market may be overvalued by up to 10%. After a significant increase in housing prices since 2013, the ESRI warns that households are reaching elevated borrowing levels that could leave them vulnerable. Despite the Central Bank’s measures to regulate lending, the ongoing housing shortage and government initiatives are seen as driving forces behind persistently high prices, leading to fears of an unsustainable market and a potential correction similar to the past collapse.