Beginning in 2012, the Irish real estate market has experienced a significant revival as the banks and the National Asset Management Agency (NAMA), which took over responsibility for the country's financial sectors non-performing loan portfolios in 2009, has speeded up the process of resolving the overhang of debt secured on real estate.
Foreign banks formerly active in Ireland have significantly decreased their exposure to Irish assets or have left the market and domestic banks have reduced the volume of real estate related loans on their balance sheets. This process continues and significant portfolios of non-performing loans are still being traded.
Numerous large asset portfolios are being traded, fuelled by the high number of both international and Irish investors that have now entered the market.
