Property prices in Ireland are too low, and its real value is 12-26% higher than last year, say officials of countries Central Bank.
According to the survey "Why Are Irish House Prices Still Falling?", prepared by economists of the Central Bank, the main reason for the continuing fall in house prices in Ireland - a lack of confidence among investors, as well as difficulties in obtaining a mortgage loan. Last year in Ireland was granted 11 000 new loans for the purchase of real estate, which is 30% less than in 2010. For comparison, in 2006 banks issued 10 times more mortgages.
Source: http://www.russianireland.com/index.php?option=com_content&view=article&id=6059:2012-05-04-15-19-05&catid=112:2010-12-10-12-26-35&Itemid=53