Foreign nationals make up one fifth of first-time buyers

Almost one fifth of first-time home-buyers in Ireland are non-nationals, according to research conducted by the Irish Mortgage Corporation.

The company says more than one third of foreign buyers are from Asia, particularly India, Pakistan and the Philippines, while a quarter are from the UK.

Asked about the figures this morning, Alan Cooke from the Irish Auctioneers and Valuers Institute said he was not surprised.

He said increased numbers of foreign nationals have been coming into Ireland in recent years and this has inevitably had an effect on the property market.