Want to make Ireland your permanent home? Stunning landscapes, lively cities, and cheap real estate all contribute to Ireland’s popularity as a destination for Brits looking to leave the country. Also, it’s not far from the UK, so you won’t feel cut off from family and friends.
But how simple is it for a foreigner to purchase a home in Ireland? Everything you need to know will be outlined here. Ireland’s property market, top neighbourhoods, and the mortgage application process are just some of the topics covered. Okay, so let’s begin.
Can you tell me about the Irish real estate market?
The Irish real estate market appears to have weathered the coronavirus outbreak quite well. In spite of a year-over-year increase in home prices of 8.44%, the market is still strongly in favour of sellers. There may be bidding wars on properties since the supply is unable to meet the high demand.
The good news for people who aren’t Irish is that anyone may buy property in Ireland3 regardless of their citizenship or where they currently reside. This indicates that non-citizens shouldn’t have any trouble purchasing a house.
Property in Ireland is available for purchase by anybody, including EU/EEA and non-EU citizens3. You need not even be an EEA citizen or resident of Ireland to be eligible to purchase real estate in the country.
To be clear, owning property in Ireland does not grant automatic residency status. Depending on your situation, you may need to apply for a residence permit if you are not an Irish or British citizen.
As a result of Britain’s decision to leave the European Union, a new group of Britons are trying to purchase homes in Ireland in order to settle there or acquire access to the rest of the European Union.
British people do not need to be EU residents to purchase residential or commercial property in Ireland. And because the United Kingdom and Ireland are both members of the Common Travel Area, British nationals will still be able to legally reside in Ireland after Brexit.
However, after Brexit, the value of Irish real estate to British purchasers may decrease. This is because, as of 2021, the value of the pound versus the euro has dropped by roughly 15%.
Ireland, like other European nations, has a “Golden Visa” programme that allows non-EU citizens to get residency in exchange for a substantial investment in real estate.
However, there are very stringent requirements for participation. Buying a house and getting a visa aren’t your only two options. You must commit at least €2 million to a publicly traded Irish REIT for a minimum of three years.
Whether you’re looking to buy in a bustling metropolis like Dublin or a quieter rural area, these factors, among others, greatly affect the asking price of Irish real estate.
Irish real estate is, on average, less expensive than British real estate. City centre apartments in Ireland cost about €3,870 (£3,224) per square metre, whereas in the United Kingdom they cost about €5,098 (£4,247.⁷.
Here is a rundown of typical property8 pricing in Ireland’s most visited areas, to give you a sense of how far your dollar will go during your stay.
While looking for a home in Ireland, your first considerations should be your budget and whether you want to be close to a metropolis or in the middle of nowhere.
Let’s go through a few of the most sought-after locations for British expats and homebuyers to assist you make up your mind.
This famed metropolis has everything a capital should, including excellent dining options, museums, and galleries, yet it still manages to be delightfully verdant and unexpectedly tiny.
In addition to its excellent cuisine and whisky, the city of Dublin is also famous for its lively nightlife. There are around 300,009 British citizens residing in Ireland, many of whom have made Dublin their permanent home.
Dublin’s connections make it easy to visit the United Kingdom or go elsewhere. Dublin real estate is more costly than in other Irish cities, however being in the urban hub could be worth the cost.
Galway, a popular destination for visitors and students alike, is home to a wide variety of restaurants, bars, and stores. It also has a thriving sports community, vibrant marketplace, excellent schools, and a massive yearly arts festival. All of this may be found around the point where the river Corrib flows into the Atlantic Ocean, and it is surrounded by interesting mediaeval remains.
Counties in Waterford Waterford, located on the southeastern coast of Ireland, has some of the lowest real estate prices in the country. Perhaps this is why so many Brits, especially seniors, have made the move outside to this country. This quiet town has a fascinating past and stunning natural features, including beaches, trails, and mountains.
North of Ireland, in picturesque County Donegal, you may find affordable real estate if country living is your goal. It’s far from civilization and lacks a major metropolis, however neighbouring Downings and Rathmullan provide easier access and more conveniences (albeit at a higher price).
Counties in Sligo There are more music and cultural festivals each year in Sligo than in any other Irish city, making it the de facto “music capital of Ireland.” Sligo is also known for its impressive literary legacy, vibrant local sports culture, and breathtakingly wild scenery.
Many British expatriates choose to make their new home in the Best beautiful villages of Skibbereen, Baltimore, and Castletownshend in West Cork, Ireland.
The stunning natural beauty, vibrant local art and music scene, kind hospitality, and comfortable temperate climate of this area will blow you away. The Atlantic Coast is right there for you to enjoy your favourite water sports (surfing, kayaking, and sailing). This also includes some of the freshest and tastiest seafood in the world.
Where should I begin looking for an Irish home?
An Irish real estate agent may be of assistance if you are currently residing in the United Kingdom. If you hire a real estate agent or consultant with market expertise, they will be able to locate promising homes and advise you on how to proceed with the purchase. Or if you want to buy privately look on www.daft.ie, www.myhome.ie, or www.sellmyhomeireland.com