In the last two years, sales of premium properties priced over €1 million have declined significantly, with a decrease of 21% by volume in Q2.
Owen Reilly stated that the decline in upper-tier property sales is more about supply issues than demand, indicating ongoing interest in €1.5m-plus homes.
He noted that luxury homes now sell much quicker, sometimes in weeks, compared to previous selling periods of 9 to 18 months.
While Dublin's luxury home sales dropped nearly 9% since 2023, Wicklow saw a larger decline of about 28% since 2022, showing regional variances.
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