EU: Irish house prices undervalued by 10%

House prices in Ireland are undervalued by more than 10%, according to a study by the EU.

They point out that the cost of housing in the EU reduced in almost all countries following the economic crisis but have now stabilised and are growing again in most countries.

Ireland is put into a category of five countries that includes Germany and Estonia where the study says there is a potential for house prices increases because they are undervalued or the economy has improved.