Housing
Funds’ interest in apartment building starting to wane
Glenveagh boss says inflation and interest rates have dampened enthusiasm of private sector, while state and housing bodies are stepping in to fill gap
There has been a slowdown in the appetite of institutional investors to fund apartment construction in Ireland, Stephen Garvey, chief executive of Glenveagh Properties, has said.
In Ireland, institutional investment in property has increased sevenfold over the last decade, with a record €7 billion of property deals completed in 2021.
“I certainly think institutional investment in apartments is going to be down. It was [slowing] down towards the back end of last year,” Garvey told the Business Post.
