Ireland Investment Property

It can be said that in Ireland, there is no such thing as a shortage of land. What exists is merely a shortage of good planning. Even in Dublin, Cork, Limerick etc. there is no shortage of land. The Daft.ie Report Quarter 2 of the year 2006, which provides an in-depth analysis of recent trends in the Irish property and rental markets has indicated that the average gross yield of a Buy-To-Let property investment in Ireland is 3.27%.

Advantages of Investing in Property in Ireland

The advantages of investing in property in any part of Ireland have its advantages. First of all investments in property have historically been a safe bet. The investments have definitely paid off well. Secondly what is to be noted is that property is one of the few investments where you can use finance to buy an asset which is worth nearly five to ten times your cash input. What’s more is that the rental income can be used in order to pay for or at least cover a bit of the expenses that have been made on mortgage.

Establishing Investment Goals

It is necessary for one to establish the goals of the investment in property in any part of Ireland. These include: the time period for which you plan on owning the property. What is more important, capital appreciation or income from the property or at times even both? Also, would the rental income be used to service the loan? It is always good to research the likely rent you would get from the property you are considering to buy. Visiting certain websites can turn out to be helpful in this regard.

Factors to Consider when Deciding on a Potential Property / Area

These factors include the types of tenants that would be allowed, and the cost of property is to be taken into consideration. Another important factor is that of the ease of renting the property.

Upfront Costs

The upfront costs of investing in a property in Ireland include a minimum of 10% deposit, stamp duty, legal Fees, surveyors report, refurbishment costs which are inclusive of furniture etc.

Ongoing Costs

The ongoing costs include the payment of mortgage, insurance costs (house insurance & mortgage protection), management fee (apartment complexes), Rental / Management fee (if you use an agent), tax, maintenance.