Over 20,800 new homes were completed in the first three quarters of the year, more than was delivered in all of 2021, figures from the Government show.
Between January to the end of September, 20,908 new homes were completed compared to 20,560 in the previous 12-month period.
Giving the first annual update on the provision of accommodation under the Housing for All plan, the Government said it is confident is will exceed this year's target of 24,600 new homes.
In the third quarter of this year, apartment completions increased by over 153 per cent compared to the same quarter of 2021.
In addition, planning permission was secured for 19,837 homes during the first half of the year.
The figures also showed just over 600 applicants have been approved under the First Home scheme since it was introduced in July.
The Help to Buy scheme, which has been extended to the end of 2024, has also been utilised by over 35,000 applicants.
The Government added that 9,183 social homes were delivered last year, and a further 1,850 Cost Rental homes will be delivered in 2023.
Taoiseach Micheál Martin said the Housing for All plan "provides a comprehensive plan which is working".
"We are building and delivering increasing numbers of new homes, while fundamentally reforming our system of housing.
"Despite the unprecedented challenges arising from the war in Ukraine, we will exceed the target to deliver 24,600 new homes in 2022, and we have now set out an updated set of actions across multiple Departments and Agencies to build on the progress to date," he added.
Tánaiste Leo Varadkar said the Government "believes in home ownership", adding: "Our absolute focus is on increasing the supply of new homes, as quickly as possible so that this generation has the opportunity to buy or rent at more affordable prices."