Funders flock to back new home schemes
There is some criticism of high interest rates charged by alternative funders, but interest in the sector is definitely heating up
Overseas and Irish capital providers are increasingly attracted to funding opportunities in the Irish residential development market.
This was reflected in the backers for Cairn Homes and Glenveagh Properties raising about a billion euro between them from their stock market flotations. The Irish government also plans to launch the Home Building Finance Ireland (HBFI) agency next year, providing up to €750 million to enable developers to build about 6,000 homes.
HBFI’s funds will come from the Irish...
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