How to Buy a Property in Ireland
Source: Asia Property HQ
particular property. You should know what type of property you want to live in. Location, condition, and price are all important. Much time is wasted on properties that are overpriced for what you can get for your money with less than desirable locations.
Would you like to move to the Emerald Isle someday? With the proper planning and knowledge, purchasing a house in Ireland does not have to be a lifelong dream. Check out this guide for tips on navigating the process!
Is Ireland a good place to buy a property?
Whether you’re looking to relocate permanently or just want to enjoy your vacation across the Irish Sea, we believe that buying a property in Ireland is a significant investment. Moving is not only practical, as it involves a shared language (though it might sound more poetic with an Irish accent) and a short travel time. It also offers a beautiful landscape to explore and a rich culture to take advantage of.
Are you feeling a little unsure? You might change your mind after reading some of our top reasons for buying property in Ireland.
Regardless of the season, you’ll be back in the UK in around an hour for a reasonable price. The country boasts five international airports servicing cities across England, Scotland, and Ireland. Book your flights in advance, and you’ll pay less than for dinner. There are also ferry services available.
An economy on the rise
Despite its problems, Ireland’s economy keeps growing – GDP growth in 2018 was 8.3%. This was the fastest economic growth in Europe and the fourth-highest worldwide. Combined with rising employment and wages, tax cuts (relatively minor) and low inflation, these factors boost incomes and drive the domestic economy. Those who want to purchase an Irish property can take advantage of this good news.
There are some severe property bargains in Ireland if you’re on a budget and don’t need to be close to work. Although property prices are low, rents tend to be high. The recent rise in rental yields for buy-to-let investment has been a major draw for investors in Europe. European rental yields are substantially higher than those in the United Kingdom. County Roscommon has the cheapest properties, with an average price of €102,000 (£91,086), and County Longford has the most expensive properties, with an average of €117,000 (£104,481). Also available in Ireland are Sligo, Roscommon, and Mayo at affordable prices, and if you are searching for land, there are plenty of options.
Job opportunities abound
Ireland’s employment market is experiencing significant growth, which means you have the opportunity to change careers or take on a new challenge. Numerous multinational corporations have opened up shops in Ireland. Several factors contributed to its success, including proximity to the UK, English-speaking residents, and lower corporation tax. Most companies are involved in the technologies, finance, and pharmaceutical industries. Employment is easy to come by if you have the right skills.
Comparing Ireland and England, Ireland has 67 people per square kilometer! There is more room to breathe in Ireland than in England. The neighborhood offers a small garden, less pollution, an empty beach, and parking nearby! A temperate climate makes hiking in the country an enjoyable experience throughout the year. When surrounded by such awe-inspiring landscapes, you will be inclined to lace up your boots and head out into nature.
While Ireland is not as significant as other countries, it is beautiful enough to make up for it. The breathtaking scenery will rejuvenate your love of getting outdoors. A weekend trip or a day trip to almost anywhere in the country is simple due to its size and excellent road network. Hundreds of hiking trails are available, such as the Wicklow Way, the Kerry Way, and the Wild Atlantic Way (to name a few). Regardless of where you live, you can enjoy hiking trails without having to go very far.
There is plenty to do
Throughout the year, Ireland’s events calendar is packed with fun events to attend, including great food, booze, and live music. You can enjoy food, music, and literary and art festivals throughout the country every month.
There is no better way to attend these events to discover new towns and villages, experience Irish culture for yourself, and make a few friends. Food festivals are held every month in Ireland. Festivals such as the Connemara Mussel Festival, Bloom in the Park, Dalkey Lobster Festival, and Galway International Oyster and Seafood Festival are highlights.
Almost all musical tastes can be accommodated at music festivals – folk, jazz, rock, electronica, etc. Cork Jazz Festival, Electric Picnic, and Fleadh Cheoil are some music lovers’ top choices. The Fleadh Cheoil is the largest annual celebration of Irish music. Try an Irish literary festival such as Cork Spring Poetry Festival, Limerick Literary Festival, or Mountains to Sea – all of which attract great names. There’s nothing better than the Cat Laughs Comedy Festival in Kilkenny City for comedy fans.
In addition to being green, surrounded by sea and plenty of rain, Ireland’s cuisine is among the finest in the world. There is no doubt that Irish dairy and meat products are world-famous, and there are dozens of fishing villages along the coast of Ireland, so if you’re looking for a fish supper, you’re guaranteed a fresh, reasonably priced catch of the day. You can try many traditional Irish dishes, including Irish stew, colcannon, boxty, sweet and sour and bacon and cabbage. In Ireland, you can find dozens of Michelin-starred restaurants.
Considerations you should make before buying a property in Ireland
A great way to narrow your search for a home in Ireland and judge each option objectively is to come up with a list of what you want in your home before buying.
- Putting your needs into words will help you have more clarity. Your search will become more focused. If you have decided to move, you should sit down and write out what prompted your decision.
- Identify what you are looking for in a home by deciding what you want. Buying a place further away from public transport might save you money if you plan to pop down on weekends, but you’re unlikely to do so.
- You should know approximately what your budget is before you start looking for a property, as this will help your estate agent suggest affordable properties and help you plan financially as moving day draws closer. Adding 10% extra to buying costs is a good idea.
- You will be purchasing a home in euros if you buy a property in Ireland. It isn’t possible to get the interbank rate – the exchange rate you see on the news. The general public does not have access to it, so you will get a few percentage points different. Getting as much value from the transaction as possible can only be achieved by talking to a currency specialist.
- Decide what kind of property it should have. What would your ideal home look like? What would make it perfect for you?
- Additionally, decide what you don’t want so that the estate agent can avoid showing you unsuitable homes.
The process of purchasing a home in Ireland can be complicated. You should research before committing to a particular property since there are many factors to consider. However, by paying attention to these significant factors, you can have an ideal space for yourself and your family!