‘Strong US interest in Irish rural properties’
There is strong demand from the US for Irish country homes and farms, according to Philip Guckian, Manager, Sherry FitzGerald Country Homes, Farms and Estates.
“Overseas interest is quite strong, and coming mostly from the US, with the strengthening of the dollar in recent months,” he said.
Germany dominates in the European market, according to Guckian. “The UK has been slower, but we are getting enquiries from there too,” he said.
Good quality country homes and good land are being sought right across the country, and proximity to Dublin and Shannon airports is a bonus, Guckian said.
The market has come back quite strong since October/November and seems to have turned a corner. The market is quite confident.
Buyers are seeking a mix from the 30ac hobby farm with a house, to larger land-holdings of 100ac plus, according to Guckian.
“We recently had sales agreed and completed sales on a number of rural properties in the €2 million and €2.5 million plus brackets and above that.”
There is also interest from the domestic market, Guckian said. Buyers are seeing value for money in Irish farms, with the price tag of a four-bedroom detached home in Dublin going a long way outside the capital.
“Land prices fell last year but we are starting to see green shoots this year. You won’t see dramatic increases in prices but there is a bit of an increase. It is a steady market,” he said.
Harriet Grant, Head of Country Homes, Farms and Estates at Savills, also reports increased interest from the US.
She has also seen demand from Irish natives who want to return home from the UK, some of whom are retiring.
While some buyers want small amounts of land to go with their country home – between 10 and 30ac – others are in search of sizeable land blocks with out-buildings, Grant said.
Last year, the international market faded away. We relied a lot on people coming from the UK but Brexit stopped people buying. That is starting to come back again, and we have more interest from the US.
“Sales have been a bit slow but in the last few weeks they are really hotting up, with a lot of offers on properties,” she said.