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Ireland registers second highest property price increase globally

Staff writer |
The rate of increase of property prices in Ireland is the second highest in the world. Residential property prices in Ireland rose by 10.81% year-on-year through to the end of June, according to a study by Global Property Guide.

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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.

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