Property prices in Ireland fell to a level that purchasing a house or apartment is affordable to thousands of people with average salaries, according to the American research "Demographia International Housing Affordability Survey".
Within survey researchers compared prices on real estate and average wages in 325 cities located in English-speaking countries such as USA, Canada, Australia and Ireland. According to results the best ratio of house prices and wages today is in Ireland.
Average price of a house or apartment in Ireland is approximately equal to three - four average annual salaries (30 000 euros), excluding first mortgage loan (20% of the cost). In other countries, the ratio was less favorable. For example, the average house or apartment in Ireland costs 165 000 euros, while in Dublin - 198 260 euros. For comparison, in February 2007, prices were 311 078 and 431 000 euros respectively. Nevertheless, many analysts believe that the real estate market has not yet reached the "bottom" and prices will continue to fall.
Источник: http://polpred.com/?ns=1&ns_id=486030