The Global Property Guide reports that Ireland’s house prices are down 14% in the last year (click here for story).  Whilst that is of concern to many home owners, it holds up relatively well compared to some countries.  For example there have been severe falls in Latvia (-59.7% year to date), the UAE (-48.1%), Bulgaria (-28.7%), Iceland (-21.2%), Russia (-19.5%) and Slovakia (-15.3%).  Interestingly, while 17 of the 27 countries have experienced house price falls over the course of the year, during the latest quarter price have risen in 16 countries and falls in only 11.  It seems as if house price falls might have started to bottom out in some countries.  It’s unlikely that Ireland will be reporting the same for some time.

Rob Kitchin

Advertisements