Ireland’s property market was at the center of the recent recession that nearly crippled the country and house prices and mortgages continue to make it difficult for people to buy, but surprisingly a new survey of nine countries found Limerick to be most affordable housing area among those examined.
The “11th Annual Demographia International Housing Affordability Survey: 2015” rates the metropolitan property markets in Australia, Canada, China, Ireland, Japan, New Zealand, Singapore, the United Kingdom, and the United States.
The criterion the survey used is known as the “Media Multiple.” This focuses on comparing housing affordability between the markets and looks at the price-to-income multiples, that is the average house price divided by gross annual median household income.
Most of the affordable major metropolitan markets were found in the United States, which had a rating of 3.6. Canada and Ireland were rated "seriously unaffordable" with an average of 4.3.
However, despite Ireland being pretty unaffordable overall, Limerick, somehow, came out on top of the list of affordability and Waterford was further down the chart, at joint 10th place.
To celebrate this affordable oasis in Ireland we thought we’d take a look at some of the properties on the market for €100,000 ($114,000) in Limerick.
Not too shabby!
No. 3 Ait Alainn
Where? Bruree, County Limerick
What? Four-bedroom bungalow with two bathrooms
- Walled all round
- Attic suitable for conversion
- Walking distance to the village, minutes drive from Kilmallock and Charleville, commuting distance to Limerick City.
2 The Square
Where? Chapel Lane, Bruff, County Limerick
What? Semi-detached two-bedroom house with one bath
- Built in the 1830s, former Royal Irish Constabulary Barracks and retains no less than two of its prison cells to the rear of the property
- Accommodation includes entrance hall, sitting room, kitchen/dining room, two bedrooms, bathroom, two prison cells to the rear, outside WC and a garage.
- Adjacent to all essential amenities
145 Carrig Midhe
Where? Corbally, County Limerick
What? Terraced four-bedroom house with three bathrooms
- Overall floor area 113.65 square meters (1,223 square feet)
- Property includes entrance hall, kitchen/dining room, living room, four bedrooms (one en suite), main bathroom
- Walking distance to all local amenities
8 Keeper View
Where? Athlunkard Street, Limerick City
What? Three-bedroom terraced house
- Overall floor area 86.73 square meters (934 square feet)
- Townhouse located within walking distance of all local amenities and Limerick city center
- Completely refurbished and redecorated to a high standard
- Rear private patio area.
Where? Kilmallock, County Limerick
What? Three-bedroom terraced house with one bathroom
- Deceptively spacious three-bedroom terraced home on a private, fully enclosed site
- Property is facing a green area in very quiet part of Kilmallock town
- Property is only a short distance away from all local amenities including shops, schools, library, doctor's surgery, etc.