The results of the 202 Ireland General Election will be known by the time you read this. Uncertainty surrounds the next government’s formation, but one thing is certain: foreign investment in Irish real estate is expected to soar in 2022.
In fact, 2022 might be the year that Ireland firmly establishes itself as one of the world’s most desirable places to invest in property. This year has seen a considerable increase in demand for properties in several of Dublin’s most desirable neighbourhoods.
Do you know where your customers are coming from?
Investors with links to the United States, Australia, the United Kingdom, and other European countries have traditionally been the largest buyers of Irish real estate. No matter where they are in the globe, Irish people yearn for a place to call their own in Ireland.
Head of Research at prominent global property adviser JLL Hannah Dwyer says that “Although there were some external interruptions, the real estate sector had a productive and busy year in 2018. For 2020, we have high hopes for much of the same and predict stability in every industry. The property industry is expected to focus more on sustainability and technology in both the commercial and residential sectors in 2020, according to our forecast.”
“A growing number of people are placing a larger emphasis on these two issues, which will have a significant influence on the real estate market. Whoever is able to adapt the fastest is going to be successful in this environment “There is one more point made by Miss Dwyer.
According to a study of estate agents, home prices in Ireland are predicted to rise by 2.5 to 3 percent in 2020. The fact that Brexit has been completed should alleviate some of the market’s worry.
Indeed, the uncertainty surrounding Brexit was a major factor in the drop in housing values in South Dublin in 2019. As soon as Brexit is finalised, we should expect a sharp rise in prices.
In the words of REA spokesman Barry McDonald: “It was only at the lower end of the market that there was any sort of revival in selling in the last few months of the year.”
He adds, ” “Working couples and the availability of financing are still the primary factors in the market, with tiny investors selling up and no cash purchasers.
Homes selling for between €250,000 and €350,000 are in high demand. There is a lack of interest from local purchasers for properties that cost more than €450,000. Because of this, the role of international purchasers from countries like the United States, Russia, and Europe is critical. Prime residential homes costing more than €450,000 are typically purchased by these individuals.
In the words of Barry McDonald, “After that €450,000 threshold, we need assurance, confidence, and clarity about Brexit. The market is no longer aspirational, and people are relocating only when they need to, rather than feeling the need to upgrade frequently.”
The property market in Dublin, in particular, is booming. As of present now, it is Europe’s third most popular location for foreign property investors. For wealthy individuals from Russia, China, Australia, Europe, and the rest of the world who want to invest in property, Dublin is a great choice.
In 2019, the Irish investment market’s activity exceeded expectations with high investor interest for many of the assets and portfolios that were brought to the market, according to Kyle Rothwell, President, Capital Markets at CBRE. CBRE is proud to have been a part of some of the year’s most notable trophy deals.
According to him, “there are excellent economic foundations, there is a robust growth rate here that has been one of the strongest in Europe, the demographics are positive,” and “there is net migration,” which means there is an increasing population and a youthful population.”
If you have any questions regarding promoting and selling your Irish property to affluent international purchasers from the United States, Australia, Scandinavia, Asia and Europe, please don’t hesitate to contact us. Sell Property in Ireland Fast