Irish top earners still favour property

Property remains the top investment choice for Ireland’s top earners, according to a new survey from Friends First.

The Friends First survey was carried out in the High Net Worth market and showed that 33pc of those polled intend to take out a property investment in the next 18 months in the Republic.

Over 50% of top earners are expecting to be better off in 2006. The survey also revealed that 39pc of Special Savings Investment Accounts (SSIA) holders are still undecided about how to spend their maturing funds.

Pension coverage is the top financial concern for over 35’s, yet 37% of top earners have no pension. Investors are also expressing more interest in ethical investments, while 60pc favour low risk guaranteed products.

The majority of those polled feel that the financial environment is a lot or somewhat safer because of regulation in the financial services market. “This research threw up a lot of contradictions on the levels of risk and return which apply to different types of investments,” said Adrian Hegarty, chief executive of Friends First. “Certainly the group polled has significant assets and investments and yet only 35pc had consulted a broker for investment advice.”