Dublin showed the highest recovery rates in Ireland

Dublin showed the highest recovery rates in Ireland

The real estate market in Ireland began to show signs of recovery, and the outlook for investment in the Irish housing have become more defined. Analysts describe the situation as "relative stability", informs ee24.ru.

Marian Finnegan, chief economist of the agency Sherry Fitzgerald, believes that the market is regaining a strong position. Especially clearly it's demonstrated Dublin and surrounding areas. For the first half 2013 accommodation in Ireland has risen in price by an average of 3.6%, prices in Dublin rose by 6.1% during the same period.

According to invezz.com, the capital has become a leader in the rate of recovery of real estate market in Ireland in July 2013. Prices rose by 3.3% on a monthly basis and by 8% in annualized.

The data of the Central Statistical Office of Ireland (CSO) confirm the optimistic forecasts. According to calculations, restoration began only in the last few months, and real estate prices still have time to return to pre-crisis positions. National House Price Index is now 49% below the peak recorded in February 2007, when the prices of apartments in the Irish capital was 59% higher than today.

Analysts predict a further rise in house prices in 2013: for Ireland figure should reach 7%, while in Dublin prices could rise by 10%.

Photo: duq.edu