400,000 Irish people 'own a foreign property'
A website in Ireland has revealed that approximately 400,000 people in the country own an overseas property.
According to Holiday Homes Direct, most of these people bough a foreign residence within the last 10 years.
Commenting on this trend, spokesperson Suzanne Quinn said the increase in overseas property ownership in the last decade has been "phenomenal".
She told the Herald: "Nearly everyone knows at least one other person who owns a holiday home abroad."
Ms Quinn added that second home owners visit their property about five times a year on average, while many also let friends and relatives use it free of charge.
This, she stated, has contributed to a decline in the take-up of traditional package holidays in recent years.
Earlier this month, a similar trend in the UK was highlighted by Foreign Currency Direct, Travel Weekly reported.
According to the organisation, this is also partly because British people now prefer to take lots of short breaks instead of a single 2-week holiday.
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