A strong dollar and the lure of a resurgent economy for emigrants has seen US property buyers flocking to secure homes and investment properties in Ireland in recent months, a new survey has found.
And for the first time, US property buyers are being offered the chance to view thousands of Irish properties, and to talk to the people selling them, at the Real Estate Alliance Irish Property Exhibition in New York.
Real Estate Alliance (REA) are giving interested buyers the chance to view and talk to local Irish agents in comfort at the Fitzpatrick Hotel, Grand Central Manhattan on Thursday March 3 from 5-8pm.
Almost one in six overseas enquiries about Irish property are now coming from the United States, according to a nationwide REA survey.
The established survey of REA members shows that enquiries from the US increased from almost zero to 16% in 2015.
And this is signalling the first major return of emigrants who feel that the time is right to move back to Ireland.
“While there has always been interest from the US market, this has increased markedly in a year that saw a 22% increase in overseas enquiries about Irish property,” said REA Chairman Michael O’Connor.
“The average house price in the US in November 2015 was $374,900 (€341,656), compared to our Average House Price survey national value of $210,094 €188,370, so there is obvious value for American buyers in Ireland.
“Overall, calls from overseas buyers represented 19% of all enquiries received by REA agents in 2015 and 16% of total sales.
“49% of our enquiries came from the UK, 8% from continental Europe, 10% from Australia, but the real surge in new interest came from the US.”
To register for the property exhibition, go to www.realestatealliance.ie or email firstname.lastname@example.org.
Fitzpatrick Grand Central - 141 East 44th Street at Lexington Avenue New York, NY 10017
- 3rd March 5-8pm
Available for interview:
Michael O’Connor, REA chairman and auctioneer 0353 87 259 7034 email@example.com
Darren Hughes, MediaConsult, firstname.lastname@example.org, 00353 86 293 7037