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The period from 2008 to 2013 wasn’t a happy one for the real estate market in Ireland. Property priced had fallen by quite a lot following the global housing market collapse of 2008, and it took a while for stability to return to the property market. Now that things are pretty normal, you’re probably wondering how to sell property in Ireland fast in 2017.
First, the good news. Ireland’s economy has recovered smartly from the recession and is on a sustainable growth path. The confidence is back and there is a lot of stability in the market.
However, the local Irish buyers have pulled out of the market to an extent as property prices in cities such as Dublin are far beyond what an average Irish household can afford to spend. There is a feeling that if things continue in the same manner, that might soon turn into a real estate bubble in the near future, probably towards the end of 2017.
But on the upside, there is a lot of interest in Ireland from foreign buyers. By this, we mean wealthy cash rich buyers from China, Russia and the Middle East. This is a big change from the past, as earlier, only Americans and Britons of Irish origin used to buy properties in Ireland.
That has changed. Today, Ireland is a prosperous country, with a thriving economy and a famously pro-business environment. This has led to a great interest in Irish real estate from abroad.
Many wealthy Europeans, including Germans and Scandinavians, have shown a lot of interest in Irish property. It’s not just UK buyers who are buying here.
Brits are, of course, the biggest buyers of properties in Ireland. Ireland is actually one of the most popular overseas property markets for Britons. But this should not be a surprise as Briton is practically next door to Ireland and there is a sizeable Irish community in the UK, who want to hold on to their ties to the home country.
So, clearly, if you hope to sell your property in Ireland quick time, you should focus on marketing it to overseas buyers, rather than domestic or local buyers. This would improve your chances of getting a great price for it by a considerable extent.
There is a lot of value in the Irish market for foreign buyers, there’s a plenty of upside to be had. With the Euro under a lot of stress lately, homes in Ireland have become quite affordable for buyers from the USA, Russia, China and the Middle East. Even the sterling has appreciated against the Euro over the last 3 to 4 weeks, going from 1.11. EUR to 1.17 EUR.
However, selling to overseas buyers is not easy. You cannot depend on a local estate agent to market your property to international investors. You will need to hire an expert on the overseas property market, estate agents who have a lot of experience with selling properties to international property investors.
This is not something anyone can do. An overseas property specialist will have an extensive agent network abroad, across Europe and Asia. They have a direct communication link with rich, high net worth investors from the Middle East, China, Russia, and other emerging nations.
They are skilled at online marketing and participate in international trade shows. You can certainly trust their expertise to help sell your Irish property fast in 2017.