Attracted by the Emerald Isle's proximity to Britain, cheap flights by several airlines and a foreign but familiar way of life, Ireland is one of the new kids on the block for many UK buyers.
All prices and exchange rates correct as of winter 2006
Killian Lynch of West Cork-based estate agents SWS Property Services notes a steady flow of Britons buying on Ireland's south coast. 'People from all over England are buying in West Cork,' he said, 'With the majority buying a property to use now as a holiday home with the plan to retire to it later on.'
Britons searching for a rural retirement idyll to call their own will find they are not the first foreigners to be seduced by Cork's coastline. The area has long been popular with French and Dutch second-home buyers attracted to Cork by the warm summers and mild winters brought about by the Gulf Stream current that flows past its shoreline.
Credit: SWS Property Services
The sea is a strong draw to the area notes Lynch. 'Most people want to buy a traditional home with sea or country views,' he said. 'A typical three-bedroom property with sea views would cost upwards of £400,000, while one with country views would cost anything upwards of £200,000.' Not inconsiderable amounts to most of us, but beer money to the several film stars, including Jeremy Irons and Daniel Day-Lewis, who have homes in the West Cork area (also known as the Irish Riviera). Like many who buy in Ireland, these two luminaries have family roots to the country. 'The English people buying here are mainly in the 30-50 age group and generally have a link to Ireland, for example they were born or have family here,' said Lynch.
These ties to the area, Lynch adds, tends not to see the majority of purchasers buying to rent the place out for profit, preferring to keep the house for use by family and friends. Nevertheless, the canny homeowner will be aware that their purchase is a sound investment. 'Property is continuing to rise in price in this area,' said Lynch, 'Last year the increase was in the region of 8-9 per cent.'
