DUBLIN was the world's third worst-performing property market last year.
Only Dubai and the Algarve saw bigger price drops, according to a property price survey.
The survey shows property prices at the upper end of the market declined 25pc in Dublin, 30pc in the western Algarve and 45pc in Dubai.
In Asia, many of the leading cities showed massive price growth with Shanghai prices jumping 52pc and Hong Kong rising 40.5pc. London chalked up a 6.1pc rise and Washington DC prices grew 5.6pc, according to the latest Knight Frank World Cities Survey.