The Irish real estate market is undergoing a boom and bust cycle.
But there is a silver lining for those of us who have been looking to buy and sell in the country’s capital, with the latest data suggesting that sales of new homes and apartments in the last three months rose by 16.3%.
In a report released this morning, The Irish Real Estate Association (Ria), an industry body representing more than 4,000 agents, said that the average price of new houses and apartments sold in the capital in the three months to the end of March was €1.3 million.
It said that, as of March 31, sales of detached homes rose by 5.5%.
The report said the price of an average detached house in Dublin fell by 4.3% over the same period.
The Ria also said that a record 3,000 apartments were listed for sale in Dublin in the previous three months.
The report noted that the value of new residential buildings in Dublin is at an all-time high of €1,065 billion ($1,859 billion).