This is a very simple idea. Ireland is known the world over. We are not overly populated and have a wonderfull country.
Lots of wealthy people would love to hold an irish passport.
A change in legislation might provide that an irish passport lottery could be set-up whereby someone meeting certain criteria such as purchasing a new property would qualify to apply for a 5-year irish passport.
They would have to hold the property in their name without renting it or the passport would not be renewed.
This might help remove some excess property from the property market.