London-based Quadrant Estates bought the CineWorld complex on Dublin's Parnell Street for close to €22m, now it has flipped the property for a profit of almost €11m - Friends First has purchased the building for €33.8m.

Expect to see a lot more transactions like this one - in some cases buildings that were bought when the market was low are being sold for over 100 percent profit.

Independent.ie cited one building that was purchased for €8m in Dublin's docklands - and sold for €18m 14 months later. As the market continues to rise, expect assets bought up in NAMA portfolios to start to appear on the market and return big profits.