Despite the downturn, the Irish appetite for property is undiminished, and almost three quarters of Irish buyers at special property auctions held there this year paid in cash.
Of the $67 million worth of houses, apartments and commercial buildings sold in Ireland this year, 72% were bought by people who did not need financing.
Robert Hoban, Allsop Space director of auctions, told the Irish Examiner this week he had observed a pattern of buying from people who had sold their homes at the height of the boom and then stayed out of the market.
‘Its perfectly reflective of the reality we are in. There are lots of people who want to buy but they cant because there is no finance from the banks.
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‘Its a distorted market. Theres an assumption out there that anyone who buys at auction is a hardcore vulture, that its blood on the streets sales, but that couldnt be further from the truth.
orate credit cards to choose from in the marketplace.