PHOTO: Latest figures show Irish property prices rose by 13 per cent in the year to April, against a background of tight supply. Photograph: Aidan Crawley/Bloomberg
Irish property prices are now rising at the fourth fastest rate in the world, as experts say growth will continue until supply ramps up to meet demand.
According to the Knight Frank Global House Price Index for the first quarter of the year, Irish property prices are rising at the fourth fastest pace in the world, with growth of some 12.7 per cent in the year to March 2018.
This was behind only Hong Kong (14.9 per cent); Malta (13.6 per cent) and Iceland (13.2 per cent).
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