Half of all property transactions in first half of 2016 paid for with cash

Half of all property transactions in first half of 2016 paid for with cash

Just over half of all property transactions in the first half of the year were paid for by cash.

New figures show that some 10,665 transactions were obtained without a mortgage in the first six months of this year. This represented 50.6% of sales.

The value of the purchases for cash was more than €3bn, thought to involve buying by investors and corporates.

This represents 59.6% of the value of transactions in the January to June period, according to figures compiled by estate agents DNG Residential.

Less than €2bn in mortgages was issued in the first part of the year.

Chronic supply shortages mean transaction levels are below those in Northern Ireland and in Britain, Keith Lowe of DNG said.

Sales of properties here are just one fifth of those in the North, he said.

There is 1 comment for this article
  1. Patricia Cleary at 10:59 am

    That sounds about right the person buying my one bed is paying cash

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