Withdrawals Suspended by Irish Property Funds Due to No Money Coming in and Going out

Irish property funds have recently come under scrutiny as several investment companies have suspended withdrawals amid growing concerns over the consequences of the coronavirus pandemic. The decision has left many investors anxious, as they are unable to liquidate their investments or access their money. Many experts worry that this move may lead to a repeat of the financial crisis of 2008, when a similar situation occurred. In this article, we explore the reasons behind this decision and its impact on the Irish property market.


Investors in Irish property funds managed by New Ireland, Zurich Life, and Irish Life have been advised that they will not be able to withdraw their money due to rising interest rates and uncertainty surrounding commercial property values. This comes after similar suspensions occurred in early 2020 amid the Covid-19 pandemic. Those attempting to take out their investments will be placed in a queue and will receive the price at the end of the suspension period, rather than the date of disinvestment. UK property funds have experienced similar issues since interest rates started to rise in late 2020, leading to a freeze on withdrawals. Zurich Life has put a stay on its Zurich Life Property Fund, while Irish Life has introduced a six-month notice period for its Irish Property Fund. Aviva’s Irish Commercial Property Fund has not been impacted.


In conclusion, the decision by several Irish property funds to suspend withdrawals has come as a shock to many investors. This move has highlighted the unstable nature of the property market, and the potential risks that come with investing in property funds. While the funds have stated that this decision is temporary, it serves as a reminder for investors to exercise caution and conduct thorough research before investing in any asset class. As always, it’s important to keep a diversified portfolio and consult with a financial professional to make informed investment decisions.