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Lying on the edge of Europe facing out to the Atlantic Ocean sits Ireland, one of Europe’s tiniest countries and One of the greenest countries in the universe is located not a million miles away from mainland Europe and is known as the Emerald Island as well as Eire, one of the reasons they call it the Emerald Isle is due to the amount of rain it receives. Just in last years Economist Ireland was ranked as being the best place to live globally, yes you read that correctly it said the world and not just Europe, one of the reasons for this is its happy go lucky people as well as the miniscule rural colorful towns and its fantastic cities.The people from Ireland do still hold traditional values close to their heart which makes a difference in how they view the money they work for. A green country seems important in modern days which is why people want to live here.This obviously appeals to our pals across the atlantic ocean in America and they are buying up real estate all over the place, we are also seeing a huge influx ofnon EU nationals from foreign lands especially Poland Ireland’s allure comes at a cost.Increasing wealth, resulting from the Celtic Tiger boom years has pushed real estate prices up to one of the highest levels in Europe.Consequently, property in Ireland is not cheap.A recent International Monetary Fund examination revealed that Irish home prices are overvalued by fifeen to 20 percent. It’s almost impossible to locate a home in Dublin, the city’s capital for under 210,000 and anything that becomes available for less normally is the size of a shoebox or in typically unfashionable locations.Move out to the suburbs and you can expect to pay anything up to 600,000 six hundred thousand for a mediocre 1970’s.Buying a character home dating between the eighteen forties and 1940’s in Dublin and you can expect to pay anything between 730,000 and 1.55 million.If you feel you have excess cash and can afford it then there is no shortage of house for more than one point four million in Irelands main city.If you are loaded and need a bigger house then look at buying a house for a minimum of 1.6 million.New homes tend to be the cheapest to buy, averaging around 300,000.Newbuilds will set you back a minimum of 350,000 Every day we hear the prophets of doom and gloom claiming we are on the verge of meltdown yet it doesnt seem to be the case just yet.Ireland could become a bit like Monaco where you cant buy a piece of property for less than 1 million, the reason for this is that Monaco is a tax haven. Recent studies have also shown that the irish property market is surging forward showing no signs of letting up.However, the smart investor or buyers seeking a new home in Ireland may want to consider carefully how and where to spend their money the Irish property market.What you now see in your backk pocket from a buy to let property is now worse than it was a couple of years ago.Only the long haul will indicate if rental returns show an upward spiral, at the moment people are taking a gamble on the value of their property going up. It could well be the case that the good times are approaching the end when in the 1980s you could pick up some great deals in irish property.I am not saying that there are no good deals left, actually the opposite is true, it is just that you may find yourself having to unravel the hidden little gems.
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