A strong dollar and the lure of a resurgent economy for emigrants has seen US property buyers flocking to secure homes and investment properties in Ireland in recent months, a new survey has found.
And US property buyers are being offered the chance to view thousands of Irish properties, and to talk to the people selling them, at the Real Estate Alliance Irish Property Exhibition in Boston.
The first group to pioneer Irish sales in the US, REA are bringing thousands of properties to Boston giving a host of US buyers the chance to browse in comfort and talk to the experts on the ground.
The show takes place in the Lenox Hotel, Boston from 5.30-8pm on March 23.
One in five overseas enquiries about Irish property are now coming from the United States, according to a nationwide REA survey.
The established survey of REA members showed that enquiries from the US increased by 25% over the past year.
And this is signaling a major return of emigrants who feel that the time is right to move back to Ireland.
“While there has always been interest from the US market, this has increased markedly in a year that saw a 22% increase in overseas enquiries about Irish property,” said REA Chairman Eamonn Spratt.
“The average house price in the US in November 2016 was $365,200 (€341,739), compared to our Average House Price survey national value of $216,856 (€202,926), so there is obvious value for American buyers in Ireland.
“Last year we brought the first Irish property exhibition to the US and met with 425 potential buyers in New York.
“32% of the attendees were Irish families looking to return home, 19% were retirees looking to downsize, and 17% were young Irish people returning to work.
“5% of attendees were searching for a holiday home and another 3% were keen to buy a second home with ties to family in Ireland.
“A survey of attendees also found that 16% were investors while 8% were US-based people who have homes in Ireland and were looking for them to be either sold or managed.”
Real Estate Alliance (REA) is Ireland’s leading property group of Chartered Surveyors with over 55 branches nationwide, comprising many of the country’s longest-established auctioneers and estate agents.