The Irish property market and the law of unintended consequences - there’s enough material for a book. The influx of these funds - Sherry FitzGerald estimates that PRS funds have invested close to €7 billion into the Irish property market since 2011, including €3.7 billion since 2018 - is undoubtedly part of a wider global trend. With banks still convalescing from the crash and loathe to lend to developers, foreign investment funds filled the void. The Construction Industry Federation (CIF)estimates that investment funds bought 95 per cent of the apartments completed in 2019. They’ve enticed funds here and - in part - engineered a situation that leaves developers increasingly reliant on foreign investment.

Source: The Irish Times May 30, 2021 11:15 UTC