There were 638 transactions on homes worth €1m or higher made so far in 2020, according to a new report.
Ireland's most expensive street has also been revealed as Temple Gardens in Rathmines where houses sell for an average price tag of €3.1m.
Three properties were bought or sold there for more than €2m this year, according to Daft.ie's Wealth Report.
Making up the top five are Thormanby Road in Howth, Orwell Road in Rathgar, Palmerston Road in Rathmines, and Park Avenue in Sandymount.
The property website has found that the value of all residential property in Ireland now stands at over €536bn, an increase of €18bn on last year.
It also reported that house prices are growing by 3.5% year-on-year.
There are now only two markets in the country where average property values remain below €100,000, those being Bundoran in Co Donegal and Castlereagh in Co Roscommon.
The highest concentration of property millionaires are in the Dublin areas of Dalkey with 643, followed by Ranelagh (305) and Ballsbridge (235).
Most expensive markets
By location, the most expensive markets are also all in Dublin.
The average asking price in Mount Merrion is now €820,000, followed by Dalkey (€765,000), and Sandycove (€746,000).
In comparison, the average asking price nationwide is €264,000.
Outside of Dublin, Enniskerry in Co Wicklow is the most expensive market with average property values of €625,000,
Commenting on the findings, Ronan Lyons, an economist at Trinity College Dublin and author of the report said: "Overall housing wealth in Ireland is up about 3.5% on a year ago – at €536.4bn, up almost €18bn on the figure in the 2019H2 report.
"That increase of almost €50m per day was driven not by the completion of €6bn of new homes, which was affected by the pandemic, but instead by higher values of existing homes.
"If you had surveyed 100 economists at the start of the year, when there was only the first inklings of the potential impact of COVID-19, I doubt whether any – in all honesty – would have predicted that such an economic shock would have caused property prices to rise, not fall, but yet that is what happened."
