Ireland registers second highest property price increase globally
The highest rate of increase globally was in Hong Kong, where property prices surged by 16.43% during the year to Q2 2015, a sharp turnaround from a drop of 0.66% for the same period in 2014.
Of the five strongest housing markets covered by the study, three are in Europe – with Estonia (+8.99%) and Iceland (+6.19%) showing considerable growth alongside Ireland.
At the other end of the scale, the biggest annual house-price declines were seen in the United Arab Emirates (-11.72%), Russia (-11.13%), and Ukraine (-10.64%).
For the year to the end of June 2015 house prices rose in 24 of the 39 world's housing markets that have so far published housing statistics, using inflation-adjusted figures.
In Ireland, figures from the Central Statistics Office show that although property prices here continue to rise, the rate of increase has slowed somewhat. ■