The logic is simple, if you are going to invest remotely, you want to find a location where the property prices are still affordable yet poised to go up in the foreseeable future. You also want to find a location where foreign investment is made fluid by the local laws. In both these factors, Ireland scores an A, especially since American investors like Joe McCall and Australian Investors like Rick Otton have invested property in Ireland before.
So, all that remains is for you to decide which part of the country holds the most promise for you in terms of remote property investment opportunities and simply go for it. That is where we come in. Here is a list of some of the most lucrative locations in Ireland.
Of course, Dublin was going to make the list. Being a vibrant city, this is the one place that holds the most promise for both HMO and buy-to-rent properties. Dublin is vibrant, constantly growing and a favourite for most foreign visitors, which means you can rent out to tourists as well.
Apart from all that, the property prices have remained somewhat low (about 40% below what they were at the peak of 2007). What will make you smile is that these prices are steadily rising now. So returns on investment should be handsome enough in the years to come.
Located in Eastern Ireland, Leinster, Carlow is one location that has seen some spike in residential asking prices. As of 2016, the average residential price was around €156,677. The fact that the prices are steadily climbing means that anyone investing in this region could possibly see more than 8% average increase in residential prices. Not a bad bet at all.
Donegal is about as scenic as it gets in Ireland and really anywhere else in the world. But apart from being Ireland’s most scenic location, it also happens to be one of the cheapest places in the country. An average 4-bed bungalow sells for about €144,000 while a 3-bed semi goes for about €69,000. That huge disparity in price shows you just how difficult it is to sell a smaller house because the area does not have a major city within fast and easy reach.
Because there is little commerce going on here, there is less demand for the houses. But, if you can find a beautiful country home that is well situated in a secluded yet scenic part of the region, you could very well sell it as an exclusive destination for tenants or buyers looking to rent or retire in a peaceful, quiet and beautiful countryside location.
Other location you might want to seriously look at include:
Take your time to explore this beautiful country and find those little hidden gems within its borders. I have no doubt that any remote property investor who takes on the task of seriously looking will find something in which they can invest to see great returns in the years to come.