DUBLIN, Feb. 14 (Xinhua) -- The residential property prices in Ireland have increased 72 percent after hitting the lowest point in the global financial crisis, official statistics released here showed on Wednesday.
In a report published on its website, the Central Statistics Office (CSO), Ireland's national statistics bureau, said that the residential property price index of the country stood at 101 in December 2017, which represented a 72.06 percent increase from the lowest point of 58.7 recorded in March 2013 since the breakout of the world financial crisis in 2007.
The residential property prices in the country's capital Dublin recovered at a much quicker, said the report, adding that by the end of last year the residential property prices in Dublin had gone up 87.33 percent compared with the lowest point registered in February 2012.
Since February 2012 and March 2013, the residential property prices for both Dublin and the country have witnessed a generally upward trajectory, said the report.
Nevertheless, the residential property prices for the country and Dublin are still 22.9 percent and 24.37 percent lower respectively while compared with the peak time in 2007, it said.
CSO did not give a forecast for the future movement of the country's residential property market. Market watchers here believe that the residential property prices in Ireland, especially in Dublin, will continue to grow as the country's economy is widely projected to grow till the year 2020 though the growth rate will descend on yearly basis in a moderate rate.
