Central Bank: Ireland could face property ‘fire sale’

New report cites a need to explore possible policy interventions for indebted funds that hold €13.6 billion worth of real estate

25th July, 2021
Central Bank: Ireland could face property ‘fire sale’
The Central Bank concluded from its survey that there is a cohort of 24 property funds that have reported “significant levels of leverage”

The Irish real estate sector is susceptible to a “fire sale” of property due to international funds that control billions of euro worth of homes and offices carrying significant levels of debt that may not be paid on time.

A research paper published by the Central Bank said large property funds in Ireland with more than €13.6 billion in assets face narrow timeframes to start repaying borrowed cash, which could spark a “fire...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Related Stories

Ian Guider: Be careful of what you read on the side of a bus about crypto

Stock markets: Robinhood’s rescue is a rallying call for the rising army of retail traders

Binance suspends Sepa transfers for Irish investors

AIB offers €20m to Belfry property investors