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, a new survey has found.

Over 22% of overseas inquiries about Irish property are now coming from the United States, from a negligible base two years ago, according to the Real Estate Alliance nationwide survey on overseas inquiries and sales.

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 New York.

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The exhibition takes place in Fitzpatrick’s Grand Central Hotel, Manhattan, from 5-8pm on March 8, click here to register now

The first group to pioneer Irish sales in the US, REA are bringing thousands of properties to New York, giving a host of US buyers the chance to browse in comfort and talk to the experts on the ground.

“Property buyers from the US are increasingly securing homes and investment properties in Ireland, buoyed by a strong dollar and the lure of a resurgent economy for emigrants,” said REA spokesperson Healy Hynes.

“The average house price in the US in December 2017 was $398,900 (€320,520), compared to the REA Average House Price survey national value of $281,024 (€225,806), so there is obvious value for American buyers in Ireland,” said Mr Hynes.

“Last year we brought the second Irish property exhibition to the US and met with hundreds of potential buyers in Boston.

“Typically, 32% of the attendees are Irish families looking to return home, 19% are retirees looking to downsize, and 17% are young Irish people returning to work.

“5% of attendees are searching for a holiday home and another 3% are 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.”

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The exhibition takes place in Fitzpatrick’s Grand Central Hotel, Manhattan, from 5-8pm on March 8, click here to register now

“75% of our members report an increase in enquiries from overseas in the last year, with the average agent seeing a 20% rise in calls from outside Ireland.

Overseas calls now make up 20% of all enquiries across the REA group.

The survey showed a rise in overseas buyers purchasing homes in Ireland for investment purposes from 15% to 20% over the past year.

22% of buyers are purchasing a home for their eventual retirement while 8% cite a change of lifestyle as their reason for purchase.

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.

Here's a sample of the properties available: 

Cois Laoi, Droumanallig, Ballingeary, Co. Cork

Extended Traditional Style 6 Bedroomed Farmhouse and Range of Outbuildings on 1 Acre approx within walking distance of Ballingeary Village. Excellent potential for development.  Plaque on gable wall signifies its historical significance – location of last attempted tenant farmer eviction in Ireland (August 1906)

Price: €195,000 / $240,000

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Drumlayne Cottage, Kingscourt Road, Moynalty, Co. Meath.

Charming stone cut cottage with plenty of character on 1/3 acre of mature gardens. Accommodation includes front porch, sitting room, kitchen, hallway, 2 bedrooms and bathroom. Attached shed. Ideal refurbishment opportunity.

€95,000 / $117,800

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Bayly Farm, Ballinaclough, Nenagh, Co. Tipperary

A magnificent, well maintained three bay, two storey detached Georgian period residence standing amongst mature woodland with a backdrop of open agricultural land and views of the Silvermines mountains.  The lands extend to approx. 11.7 Ha (29 acres) to include a number of land types.

Price €750,000 / $930,600

Viewmount, Paulstown, Kilkenny

Viewmount House is an attractive, period residence with origins dating back to the 16th century. Situated in the verdant Kilkenny countryside, the property enjoys a delightful setting amongst 11 acres of quality parkland.

Price: €675,000 / $742,560

Further details on the REA US Property Exhibition, and a list of local agents, can be found on www.realestatealliance.ie/NewYork2018 or send an email to register for the event atinfo@rea.ie.

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