Russians to become the next big buyers of Irish property

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Ghost estate - not fully complete and half empty many incomplete housing estates in Ireland are now 'ghost estates'

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Wealthy Russian investors are showing an interest in Irish property, it seems.

Fiona O'Brien, of Irish-based international Real Estate Solutions, says she recently attended an international property show in St. Petersburg, where several investors expressed an interest in Irish property.

“At St Petersburg we had a number of requests for Irish properties and many were from cash buyers,” she said, according to the Irish Times.

Wealthy Russians are primarily interested in prestigious locations such as London, Paris, New York, but middle-class Russians are looking for affordable homes in easters and central Europe and the near East.

“The Russian overseas property market is estimated to be worth in excess of $12 billion,” added O'Brien.

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