Why are Chinese millionaires buying up South Dublin homes?
Colm Keena investigates
In The News · [email protected]
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Show Notes
When "Niamh" began house-hunting in Dublin's suburbs, she soon noticed that viewings were often attended by agents who were using phones to live-stream the property to potential buyers in China - some of whom then outbid her.
Estate agents have confirmed that it is now commonplace for wealthy Chinese nationals to bid strongly on houses in South Dublin. But why?
The answers lie in the details of a now-defunct 'Golden Visa' scheme, the decline of China's own property market and the desire of upwardly-mobile Chinese parents to give their children a Western education.
And why are these buyers free to take their money out of the Chinese economy and invest it in countries like Ireland?
Guests: Irish Times reporter Colm Keena and Beijing correspondent Denis Staunton
Presented by Sorcha Pollak. Produced by Declan Conlon.
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