Australian investment in the Irish property market has been on the rise in recent years. In 2022, Australian investors spent over €1 billion on property in Ireland, making them the second largest group of foreign investors in the market.
There are a number of factors that have contributed to the rise in Australian investment in the Irish property market. These include:
- The strong economic recovery in Ireland: The Irish economy has been growing strongly in recent years, and this has led to an increase in demand for property from both domestic and foreign investors.
- The low cost of property in Ireland: Property prices in Ireland are still relatively low compared to other European countries, making them attractive to Australian investors.
- The favorable tax regime for foreign investors: The Irish government offers a number of tax incentives for foreign investors in property, which makes Ireland a more attractive investment destination.
The major cities in Ireland that are attracting Australian investment include:
- Dublin: Dublin is the capital of Ireland and the largest city in the country. It is a major financial and tech hub, and it is home to a number of multinational companies. This makes Dublin a popular destination for Australian investors seeking rental income from high-paying tenants.
- Cork: Cork is the second largest city in Ireland and it is located in the south of the country. It is a major center for industry and tourism, and it is also home to a number of universities. Cork is a popular destination for Australian investors seeking to invest in student accommodation or buy-to-let properties.
- Galway: Galway is a city in the west of Ireland and it is a popular tourist destination. It is also home to a number of technology companies. Galway is a popular destination for Australian investors seeking to invest in hotels or holiday rentals.
- Limerick: Limerick is a city in the south-west of Ireland and it is a major center for industry. It is also home to a number of universities. Limerick is a popular destination for Australian investors seeking to invest in industrial property or student accommodation.
Australian investment in the Irish property market is expected to continue to grow in the coming years. The strong economic recovery in Ireland, the low cost of property, and the favorable tax regime for foreign investors are all factors that are likely to attract further investment from Australia.
In addition to the major cities listed above, Australian investors are also showing interest in smaller towns and villages in Ireland. These towns and villages are often located in scenic areas and they offer a more relaxed lifestyle than the major cities. This makes them attractive to Australian investors who are seeking a second home or a retirement property.
Some of the smaller towns and villages in Ireland that are attracting Australian investment include:
- Dingle: Dingle is a town in County Kerry on the Dingle Peninsula. It is a popular tourist destination and it is known for its charming shops, restaurants, and pubs.
- Killarney: Killarney is a town in County Kerry that is located near the Killarney National Park. It is a popular tourist destination and it is known for its lakes, mountains, and waterfalls.
- Kinsale: Kinsale is a town in County Cork that is located on the south coast of Ireland. It is a popular tourist destination and it is known for its restaurants, shops, and wine bars.
- Westport: Westport is a town in County Mayo that is located on Clew Bay. It is a popular tourist destination and it is known for its Georgian architecture and its proximity to Croagh Patrick, Ireland’s Holy Mountain.
Australian investment in the Irish property market is a positive development for the Irish economy. It helps to create jobs, it boosts the construction industry, and it provides rental income for Irish homeowners. The trend is expected to continue in the coming years, as the Irish economy continues to grow and the demand for property from foreign investors remains strong. Contact us today to market and sell your property in Ireland to Australian investors.
