Authored by the expert who managed and guided the team behind the Ireland Property Pack
Everything you need to know before buying real estate is included in our Ireland Property Pack
Are you thinking about investing in Ireland’s real estate market? What are the legal steps, tax implications, and cultural nuances you need to grasp before diving in? What hurdles do foreign investors often encounter, and how can you navigate them successfully?
These are the questions we frequently hear from foreign investors because we’re deeply engaged with this market. We’ve collaborated with local agents, developers, and investors, so we understand what works—and what doesn’t. That’s why we’ve crafted this article: to offer a straightforward guide that addresses the questions we receive daily.
Our aim is to assist you, as a foreigner, in navigating the property purchasing process with assurance. If you feel there’s something we overlooked or if you need more information, please let us know! Your feedback helps us refine and enhance our guidance for everyone.
How this content was created 🔎📝
1) Focus on properties near future transport projects for significant value appreciation after completion
Investing in properties near upcoming transport projects can be a smart move for maximizing profit.
Take a look at Ireland's recent history: when the Luas Cross City project was completed in 2017, property values in areas like Stoneybatter jumped by 10%. This isn't just a one-off; the Dublin Port Tunnel, finished in 2010, also boosted nearby property values thanks to better connectivity.
In Dublin, homes near DART and Luas stations are consistently more expensive. Some areas have seen prices soar to as high as €828,000, showing just how much buyers value easy access to transport links. It's clear that people are willing to pay a premium for convenience.
Looking to the future, the Irish government is planning major public transport investments. Projects like the BusConnects Dublin Core Bus Corridors and the DART+ Programme are set to start construction in 2025. These initiatives are expected to make surrounding areas more accessible and cut down travel times, likely driving up property values even further.
For those considering property investment, these upcoming projects offer a golden opportunity. As these transport links develop, the areas around them are likely to see significant appreciation, making them a potentially lucrative investment.
Sources: Irish Examiner, Gov.ie
2) Consider investing in university towns in Ireland for stable rental income, as student demand remains consistent
Buying property in university towns can be a smart move because of the steady rental income from students.
In Ireland, universities have seen a steady rise in student numbers over the last decade, with full-time enrollment jumping by 18% to about 200,000 students in the 2022/2023 academic year. This means there's always a strong demand for housing in these areas.
Take cities like Dublin, Cork, and Galway, for example. They've been buzzing with new student housing projects. Cork alone added 1,365 student beds in just one year, showing just how much students need places to stay. This demand keeps rental income stable for property owners.
University towns often offer higher rental yields than other areas. The student accommodation sector is strong, with thousands of bed spaces being valued each year. This shows it's a solid investment, with low vacancy rates making it a reliable choice for property investors.
Sources: Government Report, Lisney
We have made this infographic to give you a quick and clear snapshot of the property market in Ireland. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
3) Consider Brexit's impact on Ireland's property market, as it presents both challenges and opportunities for investors
Brexit has reshaped the Irish property market, bringing both hurdles and openings for investors.
One major challenge is the fluctuation in property prices. In 2023, the growth in house prices in Ireland slowed down, with the nationwide residential property price index rising by just 1.45% year-over-year, a stark contrast to the 13.17% increase in 2022. This slowdown has made potential buyers more cautious, but it also means there might be opportunities to snag a deal if you know where to look.
On the flip side, Brexit has been a boon for Dublin's commercial real estate. Big names like Barclays and Morgan Stanley have moved their operations to Dublin, boosting demand for commercial properties. This influx has benefited the local market, making it a hot spot for investors looking to capitalize on the growing business landscape.
Moreover, Dublin's appeal as a business-friendly city has soared post-Brexit. Over a quarter of firms that left the UK have set up shop in Dublin, leading to a significant rise in foreign direct investment. This trend highlights Dublin's strategic position as a gateway to the European market, making it an attractive option for businesses and investors alike.
For those considering a property purchase, understanding these dynamics is crucial. The commercial sector is thriving, but residential buyers need to be savvy about the current market conditions. With the right approach, there are opportunities to be had, especially in areas benefiting from increased business activity.
Sources: Ireland's Residential Property Market Analysis 2024, Brexit Relocation to Dublin, Ireland Real Estate Market Outlook 2024
4) Consider properties in Dublin’s tech hubs for strong long-term appreciation potential
Dublin's tech boom has made it a prime spot for property investment.
Over the last ten years, property prices in Dublin have surged, with the average house price jumping from around €250,000 in 2013 to over €450,000 in 2023. This rise is largely due to the city's growing reputation as a tech hub, attracting both companies and professionals. If you're considering buying property, this trend suggests strong potential for long-term appreciation.
The demand for housing in Dublin's tech-heavy areas is consistently high. This is because tech professionals are flocking to the city, drawn by the expanding operations of major tech companies. For example, Accela, a software company, plans to double its staff in Dublin, reinforcing the city's tech status. This influx of talent is pushing up property prices and rental yields, making these areas particularly attractive for investment.
The Irish government is also playing a key role by offering incentives to tech companies setting up in Ireland. These incentives include funding and resources to attract top talent, which in turn boosts the local economy and property market. Neighborhoods around tech hubs, like Dublin City Centre, are seeing rapid property appreciation, highlighting the potential for growth.
Living in Dublin offers more than just investment potential. The city is vibrant, with a rich cultural scene and a strong sense of community. Tech professionals are not just working here; they're making Dublin their home, adding to the city's dynamic atmosphere. This cultural richness, combined with economic growth, makes Dublin a compelling choice for property buyers.
For those looking to invest, it's worth noting that properties in tech-centric areas often come with higher rental yields. This is due to the constant demand from tech workers who prefer to live close to their workplaces. Investing in these areas could offer both immediate rental income and long-term value appreciation.
Sources: CBRE Ireland Real Estate Market Outlook 2024, Accela Blog, Savills Dublin Market Review, Navan Press Release
5) Consider rural properties for lower prices, but be aware of limited rental demand and higher maintenance costs
In 2023 and 2024, rural properties were often significantly cheaper than those in urban areas.
Take Monaghan, for instance, where the average house price was €381,749, much lower than in bustling Dublin. This price difference might make rural properties seem like a steal. But, owning a property in the countryside isn't all sunshine and rainbows. One big hurdle is the limited rental demand. In places like Galway City, vacancy rates for rentals hit a whopping 35%. Other rural spots like Roscommon and Mayo also faced high vacancy rates, partly because of properties left by deceased owners. So, if you're thinking of renting out a rural property, finding tenants might be tougher than you expect.
Then there's the issue of higher maintenance costs. Many rural homes are older and lack modern infrastructure, leading to potentially expensive repairs. A survey showed that while Dublin apartment owners contributed between €200 to €300 annually to a Sinking Fund, the actual maintenance costs could range from €1,431 to €2,198 per unit per year. This gap highlights the financial strain rural property owners might face.
Rural living can be charming, but it's essential to weigh these factors. The countryside offers peace and space, but the financial implications are worth considering. If you're drawn to the idea of a rural retreat, be prepared for the challenges that come with it. The allure of lower prices can be tempting, but the hidden costs might surprise you.
For those who love the idea of a rural lifestyle, it's crucial to do your homework. Understanding the local market and potential expenses can save you from unexpected surprises. While the countryside offers a slower pace of life, the financial responsibilities can be anything but slow.
So, if you're eyeing a rural property, remember to factor in these considerations. The charm of rural living is undeniable, but it's essential to be prepared for the realities that come with it.
Sources: Vacant Dwellings Census of Population 2022 Profile 2 - Housing in Ireland, Over 31000 new residential address points recorded over past twelve months while the vacancy rate remains unchanged at 3.9%, SCSI Launches Real Cost of Apartment Block Maintenance Report
Get to know the market before you buy a property in Ireland
Better information leads to better decisions. Get all the data you need before investing a large amount of money. Download our guide.
6) Expect seasonal fluctuations in Ireland’s property market, with spring and autumn being the busiest times for transactions
The Irish property market is known for its seasonal patterns, with spring and autumn being the busiest times for buying and selling.
Spring, especially April, is a prime time to sell a house, according to historical data from MyHome.ie. The excitement of spring and the desire to settle before summer holidays make it ideal for families. On the flip side, December is less favorable due to holiday distractions and financial strains.
Real estate sites like Daft.ie show that while house price growth has slowed, seasonal fluctuations still occur. For instance, in Q3 2023, Dublin City Centre saw a slight rise in average asking prices, likely tied to the usual spring and autumn sales peaks.
Experts from BNP Paribas Real Estate Ireland note that seasonal dynamics alone can't uplift a tough year for investment properties, but there's hope for 2024, thanks to the typical spring and autumn activity. Buyers and sellers often report quicker sales and better prices during these times.
For those considering a purchase, it's worth noting that spring and autumn offer more options and potentially better deals. The market's rhythm aligns with the natural cycle of moving and settling, making these seasons attractive for transactions.
Understanding these patterns can give you an edge, whether you're buying or selling. The Irish property market's seasonal nature is a key factor to consider in your decision-making process.
Sources: MyHome.ie, Global Property Guide, BNP Paribas Real Estate Ireland
7) Consider investing in co-living spaces in Ireland, as they can offer high rental yields if managed effectively
The Irish property market is seeing a growing interest in co-living spaces.
This shift is largely due to the need for affordable housing in cities, where population growth and net migration are on the rise. With Ireland's population expected to hit 5.3 million by 2024, urban areas are feeling the pressure. The influx of people, especially with a net migration of +77,600 in 2023, is the highest since 2007, making co-living an appealing option.
Adding to this, Ireland faces a chronic housing shortage. By late 2022, the average rent had jumped to €1,733 per month, a 13.7% increase from the previous year. Meanwhile, available rental properties dropped by over 20%. This scarcity is nudging both developers and residents towards co-living as a practical solution.
Government policies are also nudging this trend along. Despite some bumps in the road, the Irish government is investing in infrastructure to boost housing. The 2025 Budget is a testament to this, paving the way for large-scale co-living projects to get the green light. These projects are set to highlight the perks of co-living.
For potential buyers, co-living spaces offer a unique investment opportunity. If managed well, they can yield high rental returns, making them an attractive option in the current market. The communal aspect of co-living also appeals to a younger demographic, looking for affordable and social living arrangements.
In urban areas, co-living spaces are becoming a popular choice, not just for affordability but also for the sense of community they offer. This trend is reshaping the housing landscape, providing a modern solution to the age-old problem of housing shortages.
Sources: CBRE Ireland Real Estate Market Outlook 2024, IMS Connect
8) Be wary of properties with "common areas," as management fees can reduce your profits
When buying property with common areas, watch out for management fees that can cut into your profits.
These fees can take a chunk out of your rental income, often ranging from 5% to 15%. So, if you're making €1,000 a month, a 10% fee means €100 goes to management, leaving you with less.
In cities like Dublin, especially in 2023 and 2024, investors saw high fees due to the complexity of urban property management. This often meant a big slice of their rental income was eaten up, squeezing profits.
Properties with common areas, like condos, usually have higher management fees than standalone houses. Surveys showed many owners felt these fees were a burden, especially when they weren't clearly explained or when extra charges popped up.
Over time, management fees have been creeping up, which can offset any gains from rising rents. Comparisons show that properties without common areas often have higher net rental yields because of lower fees.
For example, a property without common areas might yield 8%, while one with common areas might only yield 6% due to higher fees. This has led more investors to prefer properties without common areas.
Sources: Real Property Management, Hello Letio
We made this infographic to show you how property prices in Ireland compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
9) Consider coastal properties for high demand, but be prepared for increased maintenance due to weather exposure
Coastal properties are in high demand due to their stunning views and tourism appeal.
In places like Ireland, this demand has been growing since 2023 as more people seek a better work-life balance and enjoy the unique lifestyle coastal living offers. However, owning a coastal property isn't all sunshine and sea breezes. These homes often require more maintenance because they are exposed to harsh weather conditions.
Storms, flooding, and erosion can significantly increase maintenance costs. Experts suggest that buyers should budget for renovations to modernize and protect their homes against these elements. Additionally, coastal properties face higher insurance premiums due to the increased risk of storms and flooding.
Insurance companies conduct specialized risk assessments, which can make insuring these homes more expensive. Despite these challenges, many people still prefer coastal living, drawn by the beautiful views and the lifestyle it offers. The allure of waking up to the sound of waves and the smell of the sea is hard to resist.
But remember, the charm of coastal living comes with its own set of responsibilities. You might need to invest in storm-proofing measures or erosion control to keep your property safe. It's not just about buying a home; it's about maintaining a lifestyle that embraces both beauty and nature's unpredictability.
So, if you're considering a coastal property, weigh the pros and cons carefully. The views are breathtaking, but the upkeep can be demanding. It's a lifestyle choice that requires both passion and preparedness.
Sources: Michael Monahan Solicitor, Environmental Law Institute, LandesBlosch
10) Be cautious with properties labeled as "protected structures" in Ireland, as they limit alteration options and may impact your investment strategy
Buying a property with a "protected structure" status in Ireland can limit your ability to make changes to the building.
These properties are governed by the Planning and Development Act 2000, which means you need planning permission for any work that might alter the building's character. In some cases, even with strong reasons, planning permissions have been denied. For instance, a 2023 High Court judgment quashed a planning permission because the necessary exceptional circumstances weren't considered.
Maintaining a protected structure can be more expensive than other properties. You have to preserve the building's architectural integrity, which can lead to higher costs. As an investor, these extra expenses can impact your investment strategy, so it's crucial to factor them into your budget.
The protected status of a property can also affect its value. While some investors appreciate the historical significance, others see the restrictions as a downside, potentially leading to slower appreciation rates. Surveys of property investors highlight these challenges, including the need for special permissions and the potential for slower market growth.
Sources: Buildings of Ireland, Herein System - The Council of Europe, Philip Lee Solicitors
11) Consider property auctions for good deals, but be prepared for thorough research and quick decisions
Buying a property at auction can be a smart way to get a good deal, but you need to be quick and well-prepared.
In recent years, like 2023 and 2024, properties in Ireland often sold at auction for less than their market value. This happens because the competitive bidding and urgency can drive prices down. For instance, a commercial property once sold for £5,402,000, a whopping 575% increase from its guide price of £800,000, showing that while some properties exceed expectations, others can be snagged for less if you're savvy.
Auctions move faster than traditional sales, often wrapping up in weeks instead of months. This speed is appealing if you're looking for a quick purchase. However, it's essential to do your homework and understand the risks, like potential hidden title issues or planning problems, which can be common in auctioned properties.
Being prepared means knowing the property's background and having your finances in order. Many buyers are drawn to auctions because they can offer unique opportunities to purchase properties that might not be available through regular channels. But remember, the fast pace means you need to make decisions quickly.
Insider tip: Attend a few auctions as an observer before you bid. This will help you understand the process and get a feel for the atmosphere. It's also wise to set a firm budget and stick to it, as the excitement of bidding can sometimes lead to overspending.
Ultimately, auctions can be a great way to find a property, but they require a mix of speed, research, and strategy. If you're prepared, you might just find the perfect property at a price that suits you.
Sources: Bamboo Auctions Case Studies, CKP.ie FAQ, Irish Times Article
In this video, we see how buying properties at auction in Ireland can provide great deals, emphasizing the importance of due diligence, legal checks, and quick decision-making.
12) Be prepared for "gazumping" in Ireland, where sellers may accept higher offers, so always have a backup plan
Buying property in Ireland comes with the risk of gazumping.
Imagine you've found your dream home, agreed on a price, and then suddenly, the seller accepts a higher offer from someone else. This is gazumping, and it's a real headache for buyers, especially in a market where demand is high and supply is low. It's like trying to catch a fish that keeps slipping away.
Back in 2023 and 2024, gazumping was a hot topic. Reports showed that 37% of homebuyers in the UK and Ireland faced this issue at least once since 2014. It's been a persistent problem, leaving many buyers frustrated and scrambling for alternatives.
Here's the thing: real estate agents in Ireland must pass on all offers to their clients. This means that even if you've made an offer, the seller can still entertain others. It's perfectly legal because no binding contract exists until both parties sign. So, what's a buyer to do?
One strategy is to ask the seller to take the property off the market once your offer is accepted. This can help reduce the risk of gazumping, but it's not foolproof. Having a backup plan is essential, like being ready to move quickly or even considering other properties.
In the fast-paced Irish property market, being prepared is key. Knowing the ins and outs of gazumping can save you from unexpected surprises. So, keep your eyes open and your options ready.
Sources: Savills Ireland, The Irish Times, MFS UK
13) Work with a local Irish agent for insights, as the property market is heavily influenced by local factors
The Irish property market is a unique landscape shaped by local factors.
In 2023, Dublin City Centre saw a modest 0.6% rise in property prices, while Waterford City experienced a more notable 4.7% increase. This highlights how different areas can have vastly different market conditions. Local real estate agents can offer insights into these variations that outsiders might miss.
Employment opportunities are a big deal here. The construction sector is booming, especially in cities like Dublin, Cork, and Galway. This boom has led to higher property prices due to increased housing demand. Local area plans and zoning laws, which differ by council, also play a part in shaping property development and prices.
Infrastructure is another key player. New transport links can make properties more desirable by improving connectivity. Plus, community amenities like good schools and cultural attractions can drive up property values. Understanding these local nuances is crucial, and a local real estate agent can be your guide.
Local real estate agents have the inside scoop on these factors, offering insights that are not immediately obvious to outsiders. They can help you navigate the complexities of the market, ensuring you make informed decisions.
So, if you're considering buying property in Ireland, remember that local knowledge is invaluable. A local agent can provide the insights you need to make the best choice for your investment.
Sources: Global Property Guide, Optimize Recruitment, Team Lorraine
14) Consider properties with historical significance for niche markets, but be aware of strict renovation guidelines
Buying a historical property can be a unique investment opportunity, attracting niche markets and offering a chance to own a piece of history.
Take places like Birr Castle and Gardens, for example. These sites have become popular tourist destinations, boosting the local economy through tourism and educational visits. This shows there's a strong interest in historical sites, making them potentially lucrative for investors.
But it's not all about the money. In Ireland, strict renovation guidelines must be followed when owning a historical property. These guidelines ensure that renovations comply with Ireland's Building Regulations, covering everything from structural safety to energy efficiency.
If your property is a protected structure or in an Architectural Conservation Area, planning permission might be necessary. This adds a layer of complexity to the renovation process, even if the property attracts buyers willing to pay premium prices.
Articles and reports often highlight the challenges of renovating historical properties, such as regulatory compliance and environmental impact assessments. Despite these hurdles, preserving cultural heritage and the potential for premium pricing can be strong motivators for investors.
There are incentives like the Built Heritage Investment Scheme (BHIS) to support these efforts, but they come with their own requirements. Understanding these conditions is crucial for anyone considering such an investment.
Sources: Economic Value of Ireland's Historic Environment, Renovating an Old House in Ireland: Challenges & Solutions, Due Diligence in Renovation and Restoration Projects in Ireland
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Ireland. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
15) Be patient and hire a good solicitor, as Ireland’s property buying process can be lengthy
Buying property in Ireland requires patience because the process can be quite lengthy.
In recent years, especially around 2023 and 2024, property transactions often took several months, with some stretching up to a year. This isn't just a rare occurrence; it's something you should be ready for when diving into the Irish property market.
One major reason for these delays is the frequent issues in the conveyancing process. Things like title verification, boundary disputes, and planning clearances can really slow things down. These aren't just small bumps in the road; they can turn into significant hurdles that need serious legal attention.
Many homebuyers have found that having a good solicitor is absolutely crucial. A skilled solicitor can help you navigate these legal complexities, reducing the risk of complications and potentially speeding up the process. It's not just about paperwork; it's about having someone who knows the ins and outs of the system.
Buyers often share stories about how their solicitor's expertise helped them manage the extended timelines and stress. Testimonials highlight the importance of legal guidance in making the journey smoother and less daunting.
So, while the process might test your patience, remember that having the right legal support can make all the difference. It's about being prepared and having the right team by your side.
Sources: O'Higgins Solicitors, Global Citizen Solutions
16) Understand tenant rights and landlord obligations in Ireland’s regulated rental market to avoid legal issues
The Irish rental market is becoming more regulated, especially in 2023 and 2024.
With more cases going to the Residential Tenancies Board (RTB) for dispute resolution, it's clear that the rules are tightening. The RTB's Q1 2024 Rent Index shows that 74% of tenants saw rent increases of 2% or less, thanks to Rent Pressure Zones (RPZs) keeping hikes in check.
Landlords are feeling the heat too, with a rise in fines for not following the rules. This means the RTB is serious about making sure landlords stick to the law. In 2024, surveys showed that tenants are getting savvier about their rights, thanks to more education and advocacy.
RPZs are doing their job, especially in Dublin, where rent growth is more controlled. The RTB's data reveals that new tenancy rents in Dublin went up by 6.3% annually, while outside Dublin, it was a whopping 12.2%. Knowing your rights and obligations is key to avoiding legal headaches.
In Dublin, the RPZs are a game-changer, keeping rent increases in check compared to other areas. This is crucial for anyone looking to rent or buy property in the city. The RTB's efforts are making a difference, but it's important to stay informed about the latest regulations.
For those considering a move to Ireland, understanding the rental landscape is essential. The market is evolving, and being aware of tenant rights and landlord duties can save you from potential legal troubles. The RTB's data and educational campaigns are valuable resources for navigating this complex market.
Sources: RTB.ie, Simon.ie, Citizens Information
17) Look into properties eligible for Ireland’s "Rent a Room Scheme" to earn tax-free rental income up to a set limit
Thinking about buying property in Ireland? Consider the Rent a Room Scheme.
This scheme lets you earn up to €14,000 in rental income tax-free each year. Imagine renting out a room and keeping all that cash without worrying about taxes. It's a great way to boost your income while enjoying the perks of property ownership.
More and more homeowners are jumping on this opportunity. While exact numbers aren't available, the trend shows that participation in the scheme is on the rise. People are catching on to the benefits of renting out their spare rooms, making it a popular choice for extra income.
Why is this scheme so appealing? Well, properties that qualify can offer higher net yields compared to those that don't. Since the rental income is tax-free up to the limit, you end up with more money in your pocket. This makes these properties not just attractive but also financially rewarding.
Imagine the potential: you buy a property, rent out a room, and enjoy the extra income without the tax hassle. It's a win-win situation, especially if you're looking to maximize your investment returns.
So, if you're considering a property purchase, think about those that qualify for the Rent a Room Scheme. It's a smart move that could lead to significant financial benefits in the long run.
Sources: Citizens Information, Andrew Passer, Which Mortgage
Don't lose money on your property in Ireland
100% of people who have lost money there have spent less than 1 hour researching the market. We have reviewed everything there is to know. Grab our guide now.
18) Take advantage of Irish government grants for energy-efficient upgrades to boost your property’s value
Did you know the Irish government offers grants for energy-efficient home improvements?
In 2024, there was a significant increase in home energy upgrades, with 38,000 projects supported by government grants, marking an 11% rise from 2023. However, many homeowners are still in the dark about these opportunities. The lack of awareness might be due to insufficient media coverage or not enough targeted communication from the government.
Surveys indicate that while awareness is growing, not everyone knows about the grants and their benefits. This gap in knowledge could be because the information isn't easily accessible or widely publicized. The complexity of the application process might also be a hurdle for some homeowners.
Even though 48,300 applications were processed in the first three quarters of 2024, this was only a slight increase from the previous year. This suggests that simplifying the process could encourage more people to apply. The government and related organizations might need to step up their game in making the process more user-friendly.
For those considering buying property in Ireland, these grants can be a game-changer. They not only help in making homes more energy-efficient but also increase the property's value. It's a win-win situation for both the environment and your investment.
Sources: SEAI News, SEAI News, SEAI Report, Electric Ireland Superhomes
19) Look for properties with planning permission for extensions or additional units to unlock significant value-add opportunities
In Ireland, properties with planning permission for extensions or additional units are becoming hot commodities.
In 2024, there's been a noticeable shift in the property market, with a 36% rise in houses granted planning permission compared to the previous year. This trend is catching the eye of both investors and homeowners who see the potential for increased property value. If you're considering buying, keep an eye out for properties that already have these permissions in place.
Multi-unit properties are also in high demand, with a 52% jump in planning permissions for multi-development houses from 2023 to 2024. This surge shows a clear preference for homes that can be expanded, offering a lucrative opportunity for those looking to invest. The government's Housing for All initiative is further fueling this trend, with a significant increase in new home starts, indicating a growing need for more living spaces.
Adding extensions or additional units isn't just about space; it's also about potential income. The Rent-a-room relief scheme is a game-changer, allowing landlords to earn up to €14,000 tax-free. This makes properties with extra units not only a smart investment but also a source of steady income.
For those looking to maximize their investment, properties with planning permission offer a unique advantage. They provide the flexibility to expand and the potential for rental income, making them a wise choice in today's market. With the right property, you could see a significant return on investment.
Sources: Central Statistics Office, Government of Ireland, PTI Returns
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility. Finally, please note that we are not affiliated to any of the sources provided. Our analysis remains then 100% impartial.