Most Buyers Acquire Irish Special Properties Without Financing

Posted by Orb Staff on January 03, 2012 No Comments
Categories : Residential Mortgage

10630_0a0526pic Most Buyers Acquire Irish Special Properties Without Financing Nearly three-quarters of buyers of specialty property auctions in Ireland are bypassing mortgage lenders and making their payments in cash.

IrishCentral.com reports that out of the $67 million in residential and commercial property sold in Ireland last year, 72% was purchased by people who did not require financing.

‘It's perfectly reflective of the reality we are in,’ says Robert Hoban, director of auctions for Allsop Space, a Dublin-based property consulting firm. ‘There are lots of people who want to buy but they can't because there is no finance from the banks.’

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