Estate agents say segments of the housing market have been slowing in last 12 months The rise and fall of Ireland’s million-euro homes The number of €1m-plus homes being sold across Ireland has fallen dramatically over the past 12 months. An Irish Independent residential property price survey has revealed that sales of premium properties have now fallen 21pc by volume over quarter two in just two years. Sales of €1m-plus properties soared from 63 nationwide in 2021 (April-June) to 106 in 2022, an increase of almost 40pc.
Overall sales then declined to 94 in 2023 and down again to 84 this year (April-June). However, one leading Dublin auctioneer, Owen Reilly, warned that the decline in numbers was related to supply issues rather than to any cooling at the upper end of the Irish property market. “I would be confident in saying that, in terms of sales of houses in the €1.
5m-plus range, demand has been stronger over recent months than at any time over the past five years,” he said. “It really is a question of supply. If the houses are coming to the market in the €1.
5m-plus range and they are valued correctly, they will sell.” Mr Reilly argued that such premium homes, which might have taken nine to 18 months to sell five years ago, are now selling in a matter of weeks. He said there was also a significant demand for country estate-type homes among Irish buyers who have their own businesses or are doing very well in the art, entertainment, sport or IT fields.
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