Investment Property in Republic of Ireland

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Investing in Property in the Republic of Ireland - Outlook for 2007 / 2008

Mr. Tom Foley, Chief Executive of IIB Homeloans, told a mortgage brokers conference that while some cooling in the residential property market had been inevitable, current nervousness meant the slowdown was sharper than warranted. ‘The Irish housing market has now reached a critical point. While higher borrowing costs have been the key driver of the slowdown, a sharp loss in confidence is now the most threatening aspect of the outlook. With some sensible policies, and some easing in pessimism, the Irish housing market should soon begin to reflect what is still a healthy economy.’

The centrepiece of the conference was a paper titled ‘Crunch Times for the Irish Housing Market; the outlook for 2007/2008’ prepared by Austin Hughes, Chief Economist of IIB Bank.

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