Dublin apartment prices up 35.2% in one year
Central Statistics Office figures released this morning show that the cost of purchasing an apartment in Dublin city skyrocketed by more than a third in the past year.
The September Residential Property Price Index showed that apartment prices were 35.2% higher compared to the same month last year.
The CSO warned that the apartment figures should be taken with a pinch of salt, however, as they are based on "low volumes of observed transactions" and therefore should be expected to vary more than other figures.
Even accounting for the possibility of a statistical blip, property prices are increasing dramatically. House prices in the capital increased by 2.4% in September, up 22.6% in the past year.
The overall increase in property prices across the country was 1.8% during the month, a growth of 15% year-on-year.
If Dublin is removed from the statistics, prices in the rest of Ireland were 7% higher than in September 2013.
However, house prices in Dublin are still 37.7% lower than their peak of 2007, and apartments are still 42.2% cheaper. The rest of Ireland remains 44% lower than the 2007 peak figure.
