Ireland had the highest rate of property price growth in the year to September, according to Europe’s statistics agency Eurostat.
The price of Irish homes had grown by 15% in the twelve months to September 2014, compared to a euro zone average of 0.5%.
In the European Union as a whole prices were 2.3% higher.
Estonia had the second highest rate of growth in the period, up 13.2% year-on-year, while both Britain and Latvia recorded growth of 11.7%.
The largest falls in house prices were in Slovenia, which recorded a drop of 5.4%, and Italy, where prices were down by 3.8%.
Ireland also saw the biggest rise on a quarterly basis, with home prices growing by 6.2% between June and September 2014.
That was closely followed by a 4.9% rise in Latvian prices, while prices in Slovenia fell by 1.1% in the same quarter.
The figures come as the Central Bank prepares to introduce new limits on mortgage lending, which it says will help to reduce the risk of a credit-driven bubble in the property market.
The authority had proposed a minimum deposit of 20% and a maximum loan-to-value ratio of 3.5 times a borrowers' annual income for future lending.
It is currently reviewing submissions on these proposals and is expected to publish an updated framework in the coming days.
However the initial Central Bank proposals have been met with opposition from lenders and politicians, with Minister for the Environment Alan Kelly today describing them as "ridiculous".
Speaking in Galway this morning, Mr Kelly said he thought that a requirement to have 20% of the overall price as a deposit was excessive.
He said this was a personal view but that it reflected the opinions of many of his Labour Party colleagues.
The minister said he appreciated that the Central Bank was taking a stronger interest on the issue of property prices.
He said people should have a discipline of saving in order to get a mortgage but that requiring them to have a 10% or 12.5% deposit would be fairer and more conducive to assisting people who wanted to buy their own home.
He said he wanted to see the proposal for 20% deposits changed.
