However, Mr Martin warned that it was far too early to predict precisely what Coalition partners might be involved as he paid tribute to the Green Party, who are facing serious electoral losses, for their contribution to the three-party Coalition in the 33rd Dáil.
The Tánaiste refused to comment on whether the Social Democrats, who are set to make major Dáil gains, will be the obvious Coalition partners for Fianna Fáil and Fine Gael.
Mr Martin was speaking as he arrived at the Nemo Rangers GAA complex in Cork where the South Central and North Central counts are being handled.
The former Taoiseach will be elected on the first count after securing a whopping 14,000-plus first preference votes.
He secured almost one-in-four first preference votes in Cork South Central.
“There is a very clear route back to Government, although it is not fully determined,” he said.
“Because a lot will depend on those final seats I have spoken about.”
“We know very little at the moment – just tallies. In the majority of cases these will be reasonably accurate but then you have to work out geography, work out eliminations, work out distribution of surpluses.
“It will be many, many counts before we really are in a position to look at the destination of the final two seats in five seaters and, in cases, the final two seats in four seaters.
“Geography will be particularly important on the transfer area. What I am basically saying is that it is too early to call the exact type of Government that will be formed, the composition of the next Government.
“But I think there will be a sufficiency of seats that aligns with the core principles that I outlined at the beginning of the campaign around the pro-enterprise economy, around positively pro-European Union position and a Government that will strongly push for home ownership – around parties that are transparently democratic in their affairs.”
Mr Martin has repeatedly ruled out Sinn Féin as a Coalition partner because of their economic policies.
He said the incoming Government will have challenges most especially in tackling Ireland’s housing issue.
“Also I acknowledge that there are many people out there who are suffering, who are under pressure notwithstanding the optics of the economy in terms of statistics (that it is) doing quite well.
“Many people are feeling the pressure because of the cost of living issues – we still have unfinished business with housing, to be frank, we have a lot more houses to build.
“That was a challenge in this election.”
Mr Martin warned against “racing too far ahead” in terms of speculating about the formation of the next Government before even a substantial number of TDs have even been returned.
“I genuinely would have to caution that the final seats cannot be determined. I remember in 2020, late on the evening of the count we looked to be in a very good position for closing the deal on eight seats – but we didn’t close any of them by the following day.”
Mr Martin admitted he was “very pleased” with Fianna Fáil’s overall general election campaign – and repeated that he believed the party had fielded arguably its greatest selection of candidates ever.
“You will understand my wariness of the final predictions as to the final destination of the seats.”
The Tánaiste said he had no idea how long it would take after the final counts to hammer out a Coalition deal.
“It remains to be seen (formation of Government). There will have to be negotiating teams and I would like to think that the Dáil can do it (a Government agreement) than it did the last time.”
“This is not easy – whatever parties engage in the discussions…very detailed work will have to be done in terms of a Programme for Government.”
Mr Martin said opinion polls consistently underestimated Fianna Fail support.
“There is an issue. I could’ve had a better evening last night if the polls had been a bit more accurate. The polls give Fianna Fáil heart attacks all the time. We should respect the process.
“Believe me, there will be a lot of twists and turns before this is over. I’m going through the permutations myself at home in different constituencies.
“I’m ringing a few candidates and you pick up the local knowledge.
“Geography will play a part in this as well transfers. We will win new seats. New TDs will be elected.
“And that is always positive for a political party, that there is new blood coming in as well and a fresh injection of young blood coming into the party.
“And that is very positive.
“With a few balances of the ball we could do quite well here, but I am very conscious here that a lot will depend on the transfers.
“It is a very different environment now but it is has been a very strong effort on behalf of the volunteers across the length and breadth of the country.
“I have been sustained by some great people around the country from 2011 onwards and there is a great belief in many of those whose families belong to the party historically, they didn’t give up and they believed in the founding fathers of the party, the values of the party.
“Mary always says I’m at glass half full person but part of me feels we are only another 2% away from even better results. But it is very competitive.”
Mr Martin added that he wanted to specifically mention the Green Party.
“I want to pay tribute to all those who served in the last Dail, and who may lose seats.
“I think the Green Party made a very positive contribution to Government. I think some good constructive positive policies emerged from the last government.
“I think the last government had to weather very significant external shocks from Covid. I think the long shadow of Covid is over this election too.
“I will always remember Angela Merkel at the commencement of Covid saying she equated Covid to world war in terms of its long-term impact on politics and society and so on.
“That probably hasn’t been analysed to the degree it should. But if you look at the cost-of-living crisis, it has its genesis within Covid.
“If you look at healthcare where a lot of waiting lists dramatically because of the emergency that Covid was. And there were a lot of impacts on society from it. And we weathered it and we came through us and then we had the war in Ukraine. So the Greens to their credit, didn’t buckle over the 4.5 years.
“Being in government can be difficult for any political party. It is to the credit of the Greens that they went into government. We had challenges, we had different priorities, but this government went full term and I think Ireland was for the better for it.”
