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Ireland - Property Prices
Foreign nationals often buy a range of properties form townhomes and apartments to country homes and estates.
Dublin is rich with nightlife, entertainment, theatre and a strong economy. This is often where people come to live when they are foreign nationals because it is a large city (though the entire Dublin metropolitan area is only about a million people.) As of some of the last reports, the average price of a home in Dublin in 2009 was €242,000. However, prices have fallen significantly throughout the country after the economic downturn in 2008 to 2009. Some markets have fallen by as much as 15 percent.
A cottage home in Donegal is likely to offer a bit more land and more space, but is likely to be priced lower, too. For example, a cottage home may run between € 140,000 and € 200,000 depending on size and structure.
Limerick is another larger city and it sits on the River Shannon, near the Atlantic Ocean. Limerick is also very affordable. A small apartment here, or terrace style home will cost about €90,000 to purchase or €500 or so to rent.
Real Estate Trends
In terms of the latest trends in the real estate market in the Republic of Ireland, individuals need to look back over the last few years. In November of 2005, the average home price in Dublin was €365,562 and in the rest of the country, the average price of a home in Ireland was €237,149. However, times have changed somewhat. Over the next few years, the housing market would swell throughout much of the city and country but as much as 14 to 16 percent. This often priced out some of those buying into the markets because it was simply too high for them to get into them. This really caused a rise in the value of property in Dublin especially, but it has not lasted.
After the housing boom burst, the value of property throughout much of the country has come down to more affordable levels then ever. Further, there is little evidence that the value of property will fall any more so then it has. In fact, most experts believe that property prices in the Republic of Ireland will begin to rise in the coming years, though it is likely to be a slow climb.
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