Dublin property prices halve

Country:  Ireland

8 May 2009

Property prices in the Irish capital of Dublin have fallen by 52% over the past couple of years, with 20% of all purchasers now paying in cash only, according to a report in the Irish Times.

The publication’s data was calculated from the sale of 192 homes in the city during the first four months of this year, most of which had been on the market since last year, and were unsurprisingly sold for less than the asking price.

The property market slowdown has caused a significant reduction in the number of property auctions taking place in the country.

There were just 127 auctions last year, down from 1,500 in 2006.

See Also:   Ireland