Home prices in Irish capital Dublin almost double since 2012

Source: Xinhua | 2020-04-19

Home prices in the Irish capital Dublin have almost doubled since February 2012 when the city's property market crashed to its lowest point following the international financial crisis, according to the latest figures released by the country's Central Statistics Office (CSO).

The February 2020 residential property price index for Dublin stood at 124.7, up 93.03 percent compared with the index figure of 64.6 percent in February 2012, showed the CSO figures.

Despite the sharp increase over the last eight years or so, Dublin's home prices are still 22 percent lower than the highest level recorded in February 2007, said the CSO.

In February 2020, Dublin's home prices inched down 0.1 percent compared with the same month last year while the average home prices in Ireland witnessed a year-on-year increase of 1.1 percent, said the CSO.

The CSO figures also showed that the average home prices in Ireland have bounced back by 83 percent after touching a record low in March 2013 in the wake of the financial crisis.

The current level of the home prices in Ireland is still about 18 percent lower than their apex recorded in 2007, said the CSO.