Friday, 08 January 2016 12:47

Residential property transactions for 2015 exceed €10 billion

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Residential property transactions for 2015 exceed €10 billion

 

The Property Price Register data, which shows the Date of Sale, Price and Address of all residential properties purchased in Ireland since the 1st January 2010, now shows that residential property purchases totalling €10.1 billion took place in 2015. This is an 8% increase on the 2014 figure of €9.3 billion. The total value for 2013 was €6.1 billion.

The data shows strong activity in the residential market outside of Dublin, particularly in Cork, Limerick and Galway. Analysts say that the volume of transaction is restricted due to the lack of home building, with just 12,500 completions expected in 2015. This is far below the estimated 25,000 completions needed a year to meet demand.

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