Home prices in Ireland increased by 0.9 percent in 2019, down by 5.4 percentage points when compared with the 2018 growth figure of 6.3 percent, according to data released by the country’s Central Statistics Office (CSO) on Thursday.
In Dublin, the residential prices decreased by 0.9 percent in 2019, said the CSO, adding that the house prices in the city slipped by 0.6 percent while apartment prices dropped by 1.8 percent in the year.
Home prices in Ireland have kept rising since the country’s property market crashed to its lowest point in early 2013 in the wake of the international financial crisis.
The CSO figures showed that the property prices in Ireland have increased by 84.2 percent from their trough in March 2013 while home prices in Dublin have risen nearly 93 percent from their February 2012 low.
Nevertheless, the country’s home prices are now still nearly 18 percent lower than their highest level in 2007 while Dublin home prices are still 22.1 percent lower than their February 2007 peak, said the CSO.