Foreign investors aretaking advantage of sharply reduced prices, with the sale of the Burlington, Fota Island Hotel and others attracting American and Chinese investors. Realistic prices are helping to attract these overseas buyers and breathing some life into a moribund market. Tommy Barker says major property sales were also a good sign and it’s likely that receivership sales will feature more strongly in 2013.

Pulling up in front of the Fota Island Hotel, Gianfranco Zola hops off a golf buggy, offers a warm handshake and, with it, that familiar beaming smile.

NAMA is to introduce a deferred payments scheme in an effort to kick-start the property market as it yesterday released details of 847 properties that are in receivership or administration.

THE man who looks set to rejuvenate the tourist industry in the south-west region got a standing ovation yesterday when he received the Cork Person of the Year Award from President Mary McAleese.