OECD believes Irish property market overvalued by 15%

Senior officials from the OECD and the Central Bank recently accepted that the Irish property market is overvalued by 15 per cent, according to a confidential account of their meeting produced by the Paris-based body. Central Bank officials, however, were reluctant to disclose such a figure in case it might destabilise the Irish property market.

At a meeting of senior officials from the Organisation for Economic Co-operation and Development and the Central Bank on the subject of the property market, Irish officials were informed of OECD research which suggests that Irish prices were 15 per cent overvalued. Click here for more