Empty homes – Ireland V London

I read an article this morning in the economist that London a city of 8 million people has just 24,000 long term empty homes. The

article is available here 

This reminded me of a similar article I had read relating to Ireland on Bloomberg. The article stated that  Ireland a country of 4.6m inhabitants has an estimated 294,000 empty homes

If you gave a child studying junior cert business studies the numbers relating to the Irish  and London property markets 7 years ago simple supply and demand would have suggested investing in London over building housing estates in rural Ireland.

Unfortunately a lot of Irish property developers didn’t agree.