Ireland was described as the "jewel in the crown of European property investment" by Rob Bounds of GVA Worldwide when he spoke at a function to mark the entry of Dublin agents Donal O Buachalla and Co into the group of international property advisers. Mr Bould said that Ireland was expected to achieve growth of 6 per cent over the next two years, with the UK forecasting growth of between 1.2 and 1.6 per cent in 1999.

Mr Bould said that European property in general and Irish property in particular remained attractive to overseas investors and GVA Worldwide would be targeting US investors prepared to diversify their portfolios. These investors would probably be interested in properties with a minimum value of $50 million.

Donal O'Buachalla was founded in 1954 by its chairman, Donal O'Buachalla and is the latest Dublin agency to link up with an international group. GVA Worldwide has 85 offices on five continents. Con Cronin, managing director of GVA Donal O'Buachalla, said the alliance would meet the agency's ambition to add a European and worldwide dimension to its practice and to provide a more comprehensive service and to assist international clients seeking advice on the Irish market.