This represented nearly 78% of the total private funding in each of those years, when around 13,000 residential units were built, the report by Irish Institutional Property concludes.However, the analysis forecasts that as housing output climbs to the required annual level of at least 30,000 units in the coming years, the capital requirements to pay for that construction will more than double to €11 billion a year.
The study by IIP, which represents institutional property investors operating here, states that the housing crisis here will be solved primarily by a significant increase in the supply of units delivered by private developers. The report says that American funds that moved into the sector after the financial crash have largely been replaced by European long-term investors who provide capital through private Irish entities, making it hard to identify and quantify the flow.
The analysis also says that the decision of both Ulster Bank and KBC to exit the Irish market will undoubtedly further reduce potential expansion in domestic lending in the medium-term.
How much tax did they pay.. YAHEA! All that cheap cash sloshing around the system has to go somewhere
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