This all seems the slightest little bit familiar, doesn't it?
New figures from estate agent Knight Frank have shown that Ireland is home to the fastest growing property market in the world, despite the crash that hit the country just a few short years ago.
The annual growth rate for Ireland was 15%, putting it top of the pile head of Turkey (+14%); Dubai (+12.5%); and the UK (+10.5%), according to The Irish Times. However it also seems that things aren't quite back where they were before the boom, as property prices are 39% below their 2007 levels.
They point out that this level of increase may be one of the reasons behind the Central Bank's desire to impose stricter mortgage lending criteria to help avoid another bubble, but if the recent findings about rent getting even higher and becoming a real concern for most tenants are to be believed, there's more work to do to stop the high rate of increases in property across the board.
Via The Irish Times
