Irish property likely to see foreign investment boost
International investment in Irish property is likely to receive a boost next year, in particular from the UK, according to a leading real estate firm.
Savills Ireland says 2013 was a bumper year for cash sales by investors and indications are that next year will see even further international investment, especially from the UK.
22% of property sales this year were for investment purposes while 75% of investor sales were cash deals.
The company says Capital Gains Tax exemption in the UK will be an incentive for investors to sell up and repatriate their money and Sterling has strengthened against the Euro, meaning investors may consider converting their UK holdings into Irish assets.
