Singapore and malaysian fuel foreign investment in dublin property

Singapore is leading foreign investment in Dublin's property market, according to Knight Frank.

The firm's latest European Cities Review reveals the top three nationalities buying in the continent's key cities, finding that Singaporean and Malaysian buyers are particularly prominent in the Irish capital, with the sitting in between them in second place.

"The ranking of Singapore in first position and Malaysia in third position reflects what Knight Frank residential agents have been experiencing on the ground in Dublin," explains John Ring, Investment Analyst in Knight Frank’s Dublin office.

"The Irish market is not prone to international residential capital flows like London; the Irish market is dominated by domestic buyers who account for 75% of total residential purchases."

Nonetheless, he adds, the emergence of Asian investors is "unmistakable".

"[It is] part of the wider global trend of greater capital flows from Asia to Europe which has been predominantly focused on London but with some of this money finding its way to Dublin. This is primarily due to its proximity to London and also because it is an English speaking country which facilitates ease of doing business.

"More importantly, Ireland has always enjoyed very strong educational links with Singapore and Malaysia, particularly in medicine, which creates the dual effect of creating an investment rationale for those sending children to study here while also facilitating a transfer of knowledge of the economy in those that return home having studied here."