Record price falls recorded in Ireland

Country:  Ireland

5 June 2009

Residential property prices in Ireland depreciated at a record pace in April, falling back to an average level last recorded in 2004, according to Irish Life and Permanent Plc.

The average price of a property in Ireland in April stood at €248,640 (£219,740) compared with €311,078 at their peak in February 2007. This represents a price drop of 1.9% month-on-month and 10.7% on an annual basis.

Ireland’s property market and economy has suffered in light of the current recession and global financial turmoil, following years of strong growth.

See Also:   Ireland