The discovery, made in Ennis, Co Clare, is undergoing analysis and expected to date back to the late 16th century.
David Humphreys, from ACP Consultant Conservation Engineers, told the newspaper: "The evidence suggests very strongly that this is the earliest surviving example of a timber-framed home in Ireland. If it is what we think it is, this is very exciting."
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If the analysis confirms predictions, the find could be of national importance, if not international importance.
A previously discovered dwelling, believed at the time to be the earliest known timber-framed home in Ireland, was demolished in the 1840s.
Frank Coyne, consultant archaeologist with Aegis Archaeology, added: "It is hugely significant that these beams are oak, which will enable us to use tree ring dating. If these prove to be of medieval date, which we believe is the case, then this means that this house is the only structure of its type in the country."
The Irish Government has put forward €170,000 to make the unstable structure safe, including a grant of €85,000 from the Department of the Environment.
The restoration project, due for completion in February 2012, will yield valuable information on the range of skills and construction techniques used in medieval Ireland.
According to Coyne the excavation has already "revealed a wealth of information".
(HMcE/GK)
