The Irish economy has climbed significantly over the last 15 years and has legitimately earned a title "Celtic Tiger". In the light of this boom the construction industry has played a main role especially for the last 5 years. This paper presents the main economic indexes and indicates the mid-term outlook of the construction industry. Special focus is devoted on GNP, employment, number of completed residential units and inflation vs. building cost rise. Chapter 2.5 deals with the National Development Plan in which the government aims to invest 183 billion EUR into the Irish Economy. The last part is devoted to construction outlook for next two years.