Property Prices - Economy Impact

I am going to make deposit tomorrow for a 3BHK apartment in Malahide for 600K.

Having last moment jitters about:

1. Trump tariffs on Pharma are around the corner
2. Global economic outlook is uncertain
3. Ireland (read politicians) are providing a grim outlook

However, also understand that:

1. Structural demand far exceeds the supply helping maintain house prices
2. Ireland as a country shall be navigate the economy inspite of the potential impact on Pharma

While I understand house is to be bought with a long-term outlook; fear being in a negative equity situation in immediate fear after buying the property.

Am a first time buyer and have only read about 2008 horrors but have been made feel confident it's not going to be a repeat.

However can you guys advice of what's the potential downside with housing based on previous downturns. Is it 10%/20% or even more.

I understand no one has a crystal ball, but some of your experience and thoughts would help.

Have spoken to my family and friends and keep getting conflicted advice to either:

1. Buy in when you have the opportunity as there is no right time.
2. Wait for until end of the year; to start seeing the real impact on housing. Lots of properties are coming in the market and there should not be an issue in getting property in the range of 600K-650K.

I and my wife work in consulting and have a young toddler.