<<back to About Us page

Holiday Homes - the next buy to let?

BEGINS... Dubai, Hungary, Bulgaria? Are these the places to invest in a buy to let today? From the increasing number of developments on offer, it might at first appear so. But before you leap, make sure you look. Dubai’s glossy brochures and worldly archipelago’s are proving most attractive, but have the best deals already gone? The Beckhams took one some time ago when prices were keen, but questions remain over current values, not to mention rental revenues and occupancy levels. Hungary currently offers attractive prices, especially if you get in early on one of the many redevelopments now going on in Bucharest. As for Bulgaria, 400 Irish investors have just discovered the pain of flying blind, losing out to the tune of €12million. Perhaps they should have looked closer to home first, for it is here that recent changes in legislation have created an opportunity for the shrewd investor.

At the start of the Celtic Tiger boom, investors were flooding to the scenic shores of the Emerald Isle, capitalising on low prices at a time when both tourism and population numbers were increasing. Several years later and it would appear that those looking now would have missed the boat across the Irish Sea. However, on the brink of a holiday home overdose, the government appears to have applied the brakes at just the right time, with new residency clauses making it very difficult to build holiday homes in tourist rich areas. The result is that demand for existing holiday homes is now on the increase.

Tourists can be a fickle lot, but Ireland appears to have established itself as a desirable destination. 40 million Americans claim Irish descendency and with their confidence in travelling returning, they are once more continuing the quest for their history, making them the largest group of visitors behind the British. Next year Cork carries the mantle of European Capital of Culture and the expansion of the city’s airport is another sign of the growth being experienced. The local tourist Board, Bord Failte, is pushing forward with its sustained campaign to continue the prosperity of this nation, even tapping into the once taboo market of Northern Ireland.

So is now a good time to invest? “An average three bedroom house can be rented for €600 per week in high season.” Says Paul McGuckin, founder of coolcaves.com, a new website that markets Irish properties in the UK. “British investors like Ireland at the moment; there are no language barriers, the system is similar to the UK, the pound is strong and you can fly here in an hour.”

Holiday home buy to lets certainly look set to become the next big thing, but only for those that are careful. The old adage about a property’s location still rings true, but when buying abroad there is now a more important phrase; Research, Research, Research. ...ENDS (475 words)

next press release>>>

<<<back to Press Page