A worrying trend appears to be emerging in Ireland – overseas ‘property investors’ seem to be walking away from their foreign property investments in their droves.
People who bought during the boom years are now finding the value of their properties has slumped to the point that they are having to simply hand their keys back to the bank and walk away. Some of these individuals have not even been able to enjoy a single day in their foreign homes because they were bought off-plan, meaning they paid their money on the basis of a projected building yet to be built on a certain plot of land. Now these projects are nearing completion and the final staged payments are becoming due, property owners are realising they have already paid two or three times what their investment is now worth, without even adding in this final payment.




