The real estate market in Ireland has seen a significant increase in prices. According to experts, this trend is associated, among other things, with an expected inflation.

During the second quarter of this year, from March to June, housing prices in Ireland rose by 3.8%. Such a three-month rate has not been seen in almost 2 years. Such data is provided in the latest sales report Daft.ie.

If you look at the changes over a one-year period, the cost of housing compared to 2021 «rocketed» by 9.5%. The average price of apartments in the country now — €311,874. This, incidentally, is only 16% lower than the peak of the «Celtic Tiger».

As a side note. «Tigers» refers to states that demonstrate super results in the economy — more than 5% a year. In the 1990s, Ireland became the first «tiger» in Europe. Thanks to smart reforms, it overcame poverty in a decade and became a global cluster of high-tech industry. It is also commonly described as Ireland’s economic miracle. 

Among the major Irish cities, the leaders in the growth of housing prices are Galway and Waterford. In Galway, the average cost of apartments is €352,605, an increase of 13% compared to last year. In Waterford, the average price tag is €226,635, an annual increase of 13.5%. 

As for housing in the capital, Dublin, it rose in price by 6.6%. For comparison, at the end of 2021 it was 3.4%. At this point, the average price of apartments on the market is €429,384. 

The greatest progress is seen outside the cities: prices in the countryside increased by 11.4% year-on-year.