Unique Homes Blog

Ireland’s beauty, warmth and diversity are attracting buyers from across the globe.

Earning the sobriquet “The Emerald Isle,” Ireland is a country of outstanding natural beauty characterized by a temperate climate, lush vegetation and vibrant, colorful cities. Rated in 2005 by the Economist’s quality of life assessment as the best place in the world to live or retire to, many overseas buyers already knew this and have sought out their own piece of Irish real estate since the early 1960s.

That said, the Irish luxury homes market has not been immune to the financial turmoil of recent years. Prices have fallen by up to 50 percent from the peak of 2006, but have now shown comforting signs of stabilizing. The prevailing wisdom is that prices have now bottomed out and with a weak euro and several distressed sellers, there may never be a better time to acquire a prime residence in Ireland.

So who are the affluent international buyers in Ireland? “Traditionally they were movie icons and television personalities or rock stars enchanted by its beauty and serenity and impressed with the non-invasive attitude of the Irish public, the lack of a paparazzi, a benign tax regime and solid property rights,” says Nicholas Hughes, CEO of Coldwell Banker Ireland. Nowadays it is not just actors and musicians, but wealthy individuals from mainly English-speaking countries looking for a period property or country estate, according to Hughes.

“We are also seeing more and more captains of industry moving to Ireland to head up the European headquarters of international financial services, IT and pharmaceutical companies like CitiBank, Dell, Microsoft, Google or Pfizer, to name only a few.”

The capital city of Dublin, this year honored as only the fourth Unesco City of Literature, is where most overseas buyers relocate. The Dublin luxury market is now finding buyers, price growth is predicted for 2011, and Dublin period houses are particularly in demand, according to Hughes. “A coastal city with a low-lying mountain backdrop and the cultural and entertainment infrastructure worthy of a modern international city, Dublin offers a suburb quality of life,” says Hughes.

Ireland also boasts some fine country estates, many located in the west near the provincial capital city of Galway. A particularly fine example is St. Clerans, Craughwell, County Galway, described by the former owner, renowned movie director John Huston, as “the most beautiful house in Ireland.” And, according to Hughes, he knew something about beauty, casting Marilyn Monroe in “The Asphalt Jungle,” Katherine Hepburn in “The African Queen” and Lauren Bacall in “Key Largo.”

The Midlands section of Ireland is the home of international thoroughbred racing and hosts the Curragh racecourse, home of all-Irish classic races and Coolmore stud, where the world’s most-valued horses stand, according to Hughes. “The area has attracted wealthy equine enthusiasts since the turn of the century. More and more wealthy buyers from the Middle East have acquired properties here to be able to visit the training stables or stud farms of their horses,” says Hughes.

The Southeast Coast of the country—specifically towns such as Gorey and Wexford—is a popular location for buyers wanting to be within a short commute to Dublin, but who want to have more space and access to country life, according to Hughes. The area is also popular with Irish holiday makers with its long, sandy beaches, golf courses, wooded walks and quaint pubs.

There is truly something for everyone in Ireland, enthuses Hughes. “If Thailand is known as the land of smiles, Ireland is rightfully known as the land of welcomes. As we say in Gaelic, ‘Cead Mile Failte’ or, A Hundred Thousand Welcomes.”

Contact Coldwell Banker Ireland, + 353.1.879978912, info@coldwellbanker.ie

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