English Gentry Bid For Irish Country Homes

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by Kay Murchie

Knight Frank Ganly Walters, the country homes auctioneer, has highlighted a significant growth in UK buyers and enquiries in the Irish market for cottages and country houses since the start of 2007. These types of properties are now considered to be available at attractive prices.

A tempting factor with Ireland is the lack of formality and lack of class system. People are also heading out to Ireland for the schools as it has the best school educational system and fees are cheaper.

The UK property market continues to thrive while Ireland’s weakens. English investors are bidding for Ireland’s Georgian country homes and possibly the reason is the sterling/euro exchange rate which gives the UK buyer almost a third of a discount on Irish prices right from the start.

Knight Frank Ganly Walters anticipates that this invasion of UK buyers can only increase over the next 2 years.

However, it’s not all one-way, Irish buyers are purchasing non-residential farms in the UK for farming and investment, you can buy 3 acres there for every 1 in Ireland.