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Losing out to "cash buyers"

Arciphel · 2022-11-08 09:05:33

Hi guys, looking for some advice. Just lost out on our third property in a row due to a lower offer from a "cash buyer". For context, we are selling our 3 bed semi (almost sale agreed) and looking to move into a 4 bed detached in same area. Would be financing new house with a mixture of savings and proceeds from sale of…

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#32 16-11-2022 12:05am
Browney7

Registered Users Posts: 3,100 ✭✭✭

Join Date: April 2008

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https://www.boards.ie/discussion/comment/119849212#Comment_119849212

The currency had a good piece on this a while back (behind paywall): https://thecurrency.news/articles/44909/your-new-neighbour-is-jp-morgan-why-global-capital-is-piling-into-irish-social-housing/
One quote alluding to DCC's practices in the recent past: "Kenny has seen the long term leasing market change and grow in the recent years. Where before it was smaller players coming to them with portfolios of older homes, now it's institutional money buying newly built stuff".
Article is focussed on institutionals and new large schemes but does outline how individual older properties haven't been immune from purchase

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