The Commission said house prices in the Republic have been growing “at a rapid pace for a number of years but have slowed down recently”.
It said price growth here was largely a function of supply constraints but that there was no evidence house prices were overvalued despite suggestions that many workers are priced out of the market. The commission’s analysis comes amid a slowdown in property price growth nIn its latest winter assessment, the Commission said half of EU member states, including, were experiencing economic imbalances albeit for different reasons. In particular, it highlighted the high ratio of non-performing loans in banking sectors here and elsewhere, and the high level of public and private debt.
As economic growth slows, “challenges vary significantly across countries and call for appropriate and determined policy action”, it said. Thirteen states were rebuked for their economic imbalances, two more than in last year’s assessment. Of them,