According to a recent report, property prices in Dublin are 25.1% higher than they were a year ago, it has emerged.
Figures released from the Central Statistics Office (CSO) have suggested that prices in the capital rose by 3.5% last month, with a recent trend of increasing prices showing no sign of slowing down.
The report shows that house prices in Dublin rose by 3.5% in August alone and were 24.7% higher compared with the same time last year. The CSO has also stated that apartment prices in the city were 32.6% higher than they were last year.
Although the CSO have said that they qualified the recent findings by pointing out that apartment transactions are based on a low volume of sales and suffer from greater volatility.
The CSO have also said that the stark contrast between the soaring Dublin property market and the rest of the country was also evident from the figures.
The report also found that the price of residential properties outside the capital rose by 0.8% last month compared with an increase of 0.1% in August last year.