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 for the first time, 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.
Real Estate Alliance (REA) is giving prospective buyers the chance to view and talk to local Irish agents in comfort at the Fitzpatrick Hotel, Grand Central Manhattan on Thursday, March 3 from 5-8pm.
Almost one in six overseas inquiries about Irish property is coming from the United States, according to a nationwide REA survey.
The established survey of REA members shows that inquiries from the US increased from almost zero to 16% in 2015.
And this is signaling the first 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 inquiries about Irish property,” said REA Chairman Michael O’Connor.
“The average house price in the US in November 2015 was $374,900 (€341,656), compared to our Average House Price survey national value of $210,094 (€188,370), so there is obvious value for American buyers in Ireland.
“Overall, calls from overseas buyers represented 19% of all inquiries received by REA agents in 2015 and 16% of total sales.
“49% of our inquiries came from the UK, 8% from continental Europe, 10% from Australia, but the real surge in new interest came from the US.”
To register for the property exhibition, go to www.realestatealliance.ie or email firstname.lastname@example.org.
Here are some of the beautiful Irish properties available:
1. The Wren’s Nest Cottage
Where?: Kilclare, Carrick on Shannon, Co. Leitrim.
How much?: $132,029 (€119,900)
A charming 3-bed, detached thatched cottage with outbuildings overlooking the Shannon-Erne Waterway.
More info here.
2. A Dublin townhouse
Where?: 12 Pembroke Road, Ballsbridge, Dublin 2
How much?: $875,426 (€795,000)
Situated in a premier Dublin 4 location, this elegant period property boasts many period features while retaining much of the charm of a bygone era. Comprising a handsome three-story over garden level home, this imposing period residence offers exceptionally spacious accommodation with elegant principal reception rooms and well laid out light-filled accommodation throughout.
Requiring complete updating and modernization, the sale of this property presents a wonderful opportunity for an incoming purchaser to gain a foothold in this premier Ballsbridge location.
3. Coolnasmear House
Where?: Coolnasmear, Dungarvan, Co. Waterford.
How much?: $324,843 (€295,000)
This 5-bedroom family home offers generous, well presented accommodation throughout having a pleasant walled-in landscaped garden to the front and concrete yard to rear.
The land is currently laid out in grass would suit a variety of farming enterprises and benefits from a number of cut-stone outbuildings.
The accommodation consists of entrance hallway, living room, rear hall, kitchen/diner, inner hall, sitting room, bedroom, wet room, first floor 4 bedrooms.
More info here.
Where?: Mount Melleray, Co. Waterford
How much?: $349,069 (€317,000)
Spacious 5-bedroom bungalow c.2000 sq.ft nestling on an elevated 1 acre landscaped site enjoying glorious views of the Knockmealdown Mountains.
The property which is located adjacent to Mount Melleray Abbey and is within a short spin of Dungarvan Town.
5. Christy Maher
Where?: Castle Street, Roscrea, Co. Tipperary.
How much?: $170,680 (€155,000)
This 3-story former licensed premises with residential accommodation is uniquely situated in the heart of Roscrea heritage town adjoining the 13th century castle and 18th century Damer House.
The property exhibition will take place at Fitzpatrick Grand Central , 141 East 44th Street at Lexington Avenue New York, NY 10017 on March 3 between 5pm and 8pm.
You can find more info at www.realestatealliance.ie.