Value of residential property tops €450 billion

More than 5,000 people in Ireland now own a property worth €1 million or more, according to new statistics from property website Daft.ie. In total 5,305 people can now be classed as property millionaires according to the company, a 9% hike since June. Daft’s latest Wealth Report also found the total value of all residential property in Ireland is now €450 billion.That is an increase of 7%, or €150 million every single day since June of this year alone, when the figure stood at €420 billion. Perhaps not surprising to keen-watchers of the property pages, the Dublin suburb of Foxrock is the most expensive area anywhere in Ireland.Buying a home there will cost a buyer €872,000 on average. As a consequence, it also has the highest concentration of property millionaires in the country at 1,452, followed by Dalkey and Blackrock. But when it comes to the single most expensive street, Eglington Road in the Dublin 4 suburb of Donnybrook takes the title.On that thoroughfare alone, five properties have sold for at least €3.5 million in the past year-and-a-half the report says. As a result, overall Dublin remains the priciest county in Ireland for property.