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Buy-to-invest on rise

TURNOVER on investment property reached more than €1bn following the first three quarters of 2013, according to research.

Estate agent Savills Ireland said that the figure for the third quarter of the year was €480m from 22 investment property sales, compared to €110m last year. It added that the sales brought total turnover on investment property for the year so far to €1.09bn.

Savills claimed the results were an "significant increase" and underlined increased confidence in the market. "The attractiveness of Ireland for buyers continues to improve," a spokesman said.

The company also pointed out that there had been a sizeable return of scale to the market, with significant demand for lot sizes from €100m to €400m.