Real Estate and Property in Ireland
Nowadays, the majority of Irish people live in modern properties—either an apartment or a house in the city. Other options include a bungalow or large farmhouse-style home in the countryside.
If your idyllic Irish home is a traditional whitewashed cottage, topped with thatch, and sitting on its own emerald green acre, you’ll still find those type of properties, too. Just like you will find period mansions clad in ivy and wisteria, charming old rectories, and even castles groaning with centuries of history.
Perhaps you’d like to raise Irish thoroughbreds or buy a farm with a thriving goat or mushroom cultivation enterprise. And have you ever considered running your own countryside pub or opening a little B&B by the sea? Whatever your dream, Ireland can cater for you.
There are lots of tempting reasons to consider making Ireland your new home, and in the years following the financial crisis that engulfed the country, property has become more affordable again for buyers.
The average price paid for a house nationally at the peak of the boom was around €310,000. The most recent estimate (Jan. 2015) is that it has fallen to €193,000. It’s impossible to be precise on Irish property prices. Various groups have produced their own index over the years, and in some cases, figures vary widely. However, the Governments Central Statistics Office estimates that the average price has fallen by 37% in Dublin for houses, and 44% for apartments. In the rest of the country the estimate is a fall of 42%.
Here is a ‘short taster to some average asking prices for property on sale in Ireland:
Property in Kerry
If you’ve ever come on vacation here with a tour company, county Kerry will almost certainly have been on the itinerary. Known in Ireland as “the Kingdom,” it’s a spellbinding part of the country. A land of legends, lakes, and mountains, it has color-drenched little towns and craggy promontories that jut into the Atlantic.
Almost everywhere in Kerry, you feel the pulse of that slower-paced Ireland that visitors are promised but don’t always find.
North of the Dingle Peninsula, northern Kerry isn’t as dramatically scenic as the south, but it’s where you’ll find the county’s least-expensive properties. The market here has seen a small increase over the past year, but you can still find habitable cottages in rural areas for between €75,000 ($84,750) and €100,000 ($113,000)
Sea views? If you prefer a modern home, you can currently buy a new, three-bedroom row housed on Ballyheigue Beach for €90,000 ($101,700)
Property in the Midlands
Lakeland counties like Roscommon, Leitrim, and Offaly don’t attract the same visitor attention as Cork and Kerry, so they remain a hidden gem in Ireland’s real estate market.
In Lakeland counties and villages along Ireland’s longest river—the Shannon—numerous properties are now selling for under $150,000. The average asking price for three-bedroom semi-detached properties in County Leitrim is €55,000 ($62,150), in Roscommon €56,000 ($63,280) and in Offaly €91,000 ($102,830).
The starting figure for habitable rural cottages with around an acre of land is about €50,000 ($56,500).
Country cottages in need of modernization still occasionally come to market for around €40,000 ($45,200)
For example, here’s one near Carrick–On–Shannon, County Leitrim. A two-bedroom country cottage in need of some modernization, situated on circa three acres of land. The property includes a large outbuilding and is located in excellent rural location. Less than two miles to all amenities and services in nearby Carrick-on-Shannon. The river Shannon, numerous fishing lakes, country walks and a golf course are all nearby. €39,900 ($44,070)
Property in Dublin
Property prices in the capital have started to increase slightly over the past year. Although well down (37%) from their peak, you are very unlikely to find a terraced Georgian townhouse for under half a million Euro. Likewise, period detached houses in the prestigious area of Dublin 4 are often priced at €3 million plus.
Prices vary quite considerably across the city, with a two-bedroom row house in West Dublin averaging €161,000 ($181,930) to €256,000 ($289,280) in the city center. Here are a couple of apartment examples:
This one-bedroom apartment in Chandlers Guild, Christchurch, Dublin 8 is situated directly opposite St James Hospital. It has excellent transport connections and has easy access to the M50 motorway. An added benefit is secure underground parking. Within walking distance of a good selection of shops and restaurants. €150,000 ($169,500)
A studio apartment located on the Custom House Square with a balcony is situated in the heart of the International Financial Services Center. FSC, The property is in excellent condition and has the valuable bonus of having parking included. There is also good local transport connections and there is a tramway stop just outside the main gates. Within walking distance to all amenities and a short stroll to the city center. €195,000 ($220,350)
Families in need of larger homes with gardens, and at reasonable prices, should to look further away from the center. Currently on the market in Clondalkin (Dublin 22) is a three-bedroom, semi-detached house with gardens to the front and rear. The property is close to Clondalkin Village, the Liffey Valley Shopping Centre, local schools and has good public transport facilities. Priced at €160,000 ($180,800).