Ireland's immigration process allows individuals to obtain residency through investment in businesses, without requiring applicants to purchase property locally. However, the appeal of Irish real estate is significant, especially among individuals from neighboring Britain. For applicants intending to settle long-term in Ireland, owning a home can be a very pleasant experience, bringing warmth to their lives. When purchasing property in Ireland, one can follow the footsteps of the British to see where they tend to buy and what types of properties they prefer.
1. Why is Irish real estate more favored by the British?
Statistics show that in January 2018, the number of visits by British buyers to Irish property websites exceeded 500,000, representing a 12% increase compared to the same period last year, which is a significant rise. Moreover, British buyers accounted for 82% of the total visits, followed by 15% from the United States, 2% from South Africa, and 1% from France. Among all property buyers in Ireland, over half paid in cash, while the proportion of British property buyers paying in cash was less than 20% of the total. Additionally, cash-paying clients tend to prefer high-yield properties. Thanks to the robust development of the real estate market and economic recovery, many investors from Britain view investing in Irish real estate as a very good opportunity.
In addition to the high returns on real estate, an increasing number of British individuals are purchasing homes in Ireland because if Brexit is successful, they will have the opportunity to remain within the European Union. Data released by the Irish government indicates that last year, over 160,000 individuals from Northern Ireland and Britain obtained Irish passports, accounting for 20% of the total applicants. According to relevant agreements, citizens of Northern Ireland can freely choose their passport.
In summary, the reasons why the British are very interested in Irish real estate include:
There are no language barriers, as both countries speak English, and the proximity makes transportation very convenient.
The lifestyles are quite similar, such as driving on the same side of the road, etc.
Even if Brexit proceeds smoothly, they still have the opportunity to remain within the EU.
What does this mean for other applicants immigrating to Ireland? Although the immigration process to Ireland is based on investment and does not mandate property purchase, buying a home can enhance the warmth of life and also yield considerable returns on property investment.
2. After immigrating to Ireland, where are the typically popular locations for purchasing homes?
County Cork
This is a place favored by the British, especially the colorful villages, which have a relaxed artistic community. It takes about an hour and fifteen minutes to reach the UK from the international airport. This area is vibrant and offers a very pleasant lifestyle with affordable prices, abundant job opportunities in technology, communications, and education, and is even regarded as a true capital of Ireland.
County Wexford
Located in the southeast corner of Ireland, it is very close to the UK, and can be reached within four hours by ferry to Wales. This area is also one of the most popular regions for the British, enjoying ample sunshine and offering a different lifestyle and rhythm.
The aforementioned areas are popular among British homebuyers, and they also provide significant reference points for other applicants. If the British, who understand Ireland best, choose these locations, then applicants from other countries immigrating to Ireland can certainly consider these areas. After all, in any country, having a home gives a sense of belonging.
