Wealthy non-EU visa-seekers pump €62m into Irish social housing in November

Immigrant Investor Programme gets massive influx of cash as landlords avail of ‘de-risked’ social home leasing initiatives

2nd January, 2022
Wealthy non-EU visa-seekers pump €62m into Irish social housing in November
Ireland’s social housing sector is being actively touted to high-net-worth foreign investors as one of the safest investment bets globally. Picture: Lucy Brown

Rich, non-EU citizens who invest cash in Ireland to obtain visas pumped a record €62 million into the country’s social housing sector in November last year, the Business Post can reveal.

The influx of cash means nearly a fifth of the €324 million generated for social housing through the Immigrant Investor Programme (IIP), which was established in 2012, was invested within the space of less than a month in 2021.

Ireland’s social housing...

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