THE Irish economy grew by 7.8% last year—the strongest expansion of any advanced economy.

In 2015, 42% of Sherry FitzGerald’s buyers were from outside of Ireland. The majority are returning Irish — people who have made a lot of money abroad and are coming back with sterling or dollars to take advantage of an attractive exchange rate.

This year, I am seeing strong demand from the American buyer, mainly looking for a holiday home or for something a little different, with a piece of Irish history. These types of buyers are keen to say they own a piece of Irish soil, such as Glin Castle owned by the Knights of Glin since the 12th century.

Land is a key factor for those overseas buyers returning to Ireland. The more land that accompanies the property the better. Many buyers are purchasing land around their original purchase to give privacy and seclusion.

Land prices in Ireland average at €8,600 per acre (according to the Sherry FitzGerald report). There are very few estates in Ireland over 500 acres and when they do come to the market they are actively pursued, such as the Kilcooley Estate in Thurles on 1,263 acres.

SURGE IN EQUESTRIAN INTEREST

Equestrian estates do not come on the market that regularly, but when they do they are highly sought after by national and international buyers looking to either enter the Irish market to take advantage of the quality limestone land, or they are operations already in place looking to expand their land holding. We have seen the likes of Coolmore and Darley expand their holdings in recent years.

Stud farm facilities are a plus, but for many of the larger operators, they are happy to develop their own, as they will generally install up-to-date and leading technology, in order to produce the best race or sport horses.

For this reason, equestrian buyers were the most active buyers last year, with most of the larger farms in the south east of the country bought by the big equestrian players.

Other factors that make Ireland attractive for international buyers is the favourable stamp duty rates at 1% up to €1 million and 2% on the balance over €1 million, in contrast to 10% and 12% in the UK over £1 million and £1.5 million respectively. Low property taxes are also appealing, as are the upgraded roads and motorways, which is one positive piece of infrastructure to result from the Celtic Tiger.

EASE OF ACCESS

International airports at Dublin and Shannon as well as the regional airports in Cork, Waterford, Knock and Kerry provide an ease of access to the country. Many of these airports are within an hour’s drive of most locations making Ireland a convenient destination.

All in all, Ireland is viewed as a safe haven with ease of access through International airports, good roads, an educated workforce at hand, friendly people and a beautiful place to live or wind down in.