In April, a property in Dublin has risen in prices by 3.1% on a monthly basis and by 18% compared to April of the last year. The housing market in Ireland outside the capital is more stable: during the year prices rose by only 1.3%, according to ee24.com citing bloomberg.com.
Demand is growing because the economy is overcoming the crisis, but the supply in Dublin remains at an extremely low level. In recent decades, 30 thousand homes were built each year, and in the first nine months of 2013 only 6 thousand were built.
In this situation, economists predict that prices will continue to go up. According to Conall Mac Coille, chief economist at Davy, Dublin real estate market is "in the process of going from lukewarm to scalding hot."