House prices in Dublin are now 56% lower than at the peak of the boom in 2007, according to the Central Statistics Office.
The CSO figures show apartment prices have also taken a battering, falling back by 62% in the last five years.
The fall in house prices nationally is somewhat lower at 45%.
The latest figures show an 18% fall in property values in the year to February.
In the month of February alone there was a fall of 2.2% which compares to a decline of 1.7% in January.