The value of property sold last year increased by 21% thanks to the bulk buying of houses and apartments by investment firms.
An analysis of the Residential Property Price Register shows the total value of all homes sold during 2021 was more than €19.6billion - an annual increase of €3.4billion.
The figures were boosted by the sale of new housing estates and apartment blocks by developers to real estate investment firms.
The number of sales of houses and apartments was up 15.5% to almost 57,000, although approximately 200 sales incorporated numerous housing units.
The number of sales recorded on the register increased by more than 7,600 on the previous year.
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A total of 56,992 sales were registered last year which was down just 3.3% on pre-Covid levels of almost 59,000 in 2019.
The figures show that homes in Dublin accounted for almost three out of every 10 sales.
Prices in excess of €1million were secured for the sale of more than 1,300 properties, of which 88 fetched more than €5million.
However, the vast majority of the most expensive transactions involved sales of new housing developments to investors.
Almost 80% of all residential sales of more than €1million related to properties in Dublin.
The single biggest deal registered last year was €170.1million, paid for the development of 435 apartments being constructed by Seán Mulryan's Ballymore Group at Royal Canal Park in Pelletstown, Dublin 15.
The 8th Lock residential quarter, which consists of five apartment blocks ranging from four to 13 storeys in height, is not due to be completed before March 2025.
The purchaser, Union Investment - the investment division of Germany's second largest banking group, DZ Bank is behind one of the first major property deals in Ireland where forward-funding is provided by the end investor.
The second largest figure was €57.9million, spent on 151 apartments at the Beech Park complex being developed by the O'Flynn Group in Cabinteely, Co Dublin.
The most expensive residential property deal outside Dublin last year was €23.9million for 71 apartments at Dargan Hall in Bray, Co Wicklow.
The highest price for a single home was the €13.25million paid for Lissadell - a detached Edwardian home in the Ballsbridge 'embassy belt' of Shrewsbury Road - which is believed to have been bought by property developer, Pat Crean, chief executive of the Marlet Group.
The second highest price for a property was the €11.5million spent by John Collison on an 18th century stately mansion on the Abbey Leix Estate in Abbeyleix, Co Laois.
The Limerick-born co-founder of Stripe is believed to have paid around €20million for the estate that includes 10 estate houses and cottages and a stud farm.
Mr Collision and his brother, Patrick, who co-founded the online payments platform, had their personal wealth estimated at €9.65billion each by the Bloomberg Billionaire Index last year.
The third most valuable residential sale was the €10.65million paid for Sorrento House - the end-of-terrace villa on Sorrento Terrace, overlooking Killiney Bay to an unnamed UK-based Irish businessman.
Other high-value transactions included more than €3million paid for Lough Rusheen House in Knocknacarra, Co Galway - a luxury home on the shores of Galway Bay.
A country mansion in Co Limerick that has been described as one of the finest homes in Ireland - Fedamore House in Fedamore - was sold for €2.6million.
The most valuable home sold in Cork was Rocket House - a former coastguard station in Castletownshend - which fetched more than €2.5million - well above its asking price of just under €2million.
