| Foreigners snap up property in Ireland |
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| News - News from Ireland | |||
| Written by Hugh McManus | |||
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The Irish Mortgage Corporation has published figures that show a surge in the number of non-nationals purchasing homes. As the housing market softens dramatically, first time buyers, born in Ireland have pulled out of the market, but those from overseas are grabbing property at an accelerated rate. Five percent of homes are being snapped up by non-nationals from Africa; while one in fourteen first-time buyers are originally from Asia. About 25% of first-time buyers are non-nationals compared to ten percent three years ago.
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