A US billionaire has recently set his eyes on Ireland. Wilbur Ross, one of the world’s leading investors, is reportedly set to make a major investment in the Irish property market.
Despite Ireland being hit by a recession, the 77-year-old Wall Street billionaire is fairly confident that the Irish economy will bounce back and his planned investments will pay off.
As a matter of fact, he has already committed to a €400 million (AU$602.5 million) joint venture with two Irish financiers through Cardinal Capital Group.
“We do believe that as the Irish economy continues to recover, so will (the) Irish property (market),” said Mr Ross. “The only bad thing is that we did not make more investments at the bottom.”
It was also reported that Mr Ross is now planning to develop relationships and alliances with the state loan agency NAMA and the National Reserve fund. This is to further increase his investment in the Irish property market.
You may of also read that recently Ireland’s cheapest house was sold at only 15’000 euro, have you thought about buying back home?