Ireland saw the third largest fall in house prices in the EU between 2007 and autumn 2019.
New Eurostat figures show that Greece at 40% and Romania at 27% recorded the largest decline in property prices.
Tim Hayes, political director with the EU Representation in Ireland, says the decline here is smaller as prices have recovered since the economic crash but in the same period rents have increased.
"What these figures are telling us is that while house prices are falling rent prices are increasing,"
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"The fall in house prices in Ireland was around 16% but the rise in rent prices in the same period was about 40%."
