12 people become property millionaires each week

On average, a dozen people each week becomes property millionaires in Ireland. There are currently around 4,000 homeowners with property worth more than €1 million, and the rates at which new million euro homes are listed and sold are increasing rapidly.

 

Across the country, house prices have increased by 9.4% in the past year, and 40% in the past five years, turning many homeowners into property millionaires. While the average property value is currently around €230,000 and the average value in Dublin is around €350,000, many districts and counties have average values of 700,000 or more.

 

Sandycove in Dublin has an average property value of close to €800,000. An even more expensive street is Herbert Park in Dublin, where five homes have sold for more than €3 million in the past 2 years. A quick search on myhome.ie will reveal that around Dublin’s Ranelgh area, a couple houses are listed at more than €5 million. Other areas with the most expensive home prices include Foxrock and …

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