Property prices in Ireland`s capital has never been lower. According to statistical research on the average for the current year they have fallen by about 15%.
In Dublin, with respect to peak performance home prices fell by 44%. This trend will continue in 2011, but price cuts will occur at a slower pace.
The main causes of the current situation in the country were the poor economic situation and high unemployment in Ireland. This situation made people wary of spending money. Coupled with growing up a proposal it has led to a fall in housing prices.
The international consultancy Knight Frank, which is responsible for calculations of global house price indices, reported that the real estate market directly affected by the unstable situation in the country. With respect to the peak of property prices in 2006, today the cost of housing on average dropped by more than 36%.
But even in this situation of the country experts identified advantages: speed of falling prices declined in the third quarter (1.3%) for the fourth quarter of this year (1.7%).