Tuesday, May 17, 2011
Ireland down 40% from peak
Residential property prices in Ireland have fallen by 11.9% in the year to the end of March, according to the new national real estate index from the Central Statistics Office. In Dublin residential property prices fell by 1.8% in March and were 13% lower than a year ago. House prices in Dublin are now some 45% lower than at their highest level in early 2007. Apartments in Dublin are 52% lower than they were in February 2007. The fall in the price of residential properties in the rest of Ireland is somewhat lower at just over 35%. Overall, the national index is almost 40% lower than its highest level in 2007.