Majority of Irish prosperity held in property
According to a recent study it is more common for prosperous people in Ireland to keep the greatest part of their wealth in property than for the rich in other countries.
Despite the tough situation which the Irish real estate market is currently facing, property accounts for 55% of their wealth.
2% of the wealth held by people with assets valued at €1.2 million is kept in business and entrepreneurial interests, 18% in cash and 16% in investments.
The study also found that the rich accrue their wealth over many years instead of just by inheriting it.
A shocking 62% of those interviewed in Ireland said that their prosperity has been reduced in the last years and for 18% it has even been halved.