Irish Property Buyers Podcast with Guy King
In Nubricks Overseas Property Podcast 20, Adam Samuel is joined in cyberspace by Guy King, editor of RTÉ House Hunters in the Sun Magazine, Ireland’s leading international property publication. With Guy, we talk Irish property investment both home and abroad first touching on his decision to buy a 2-bedroom apartment in Derry, Northern Ireland. He quotes that Northern Ireland property prices increased 25% last year and in some areas prices have risen by up to 30% making it the closest current property hotspot in the vicinity of Great Britain. Property is mainly on the up due to infrastructure changes with upgrades taking place in and around the Derry area where he purchased so long term investment potential looks very good. Despite it being the place of his youth and having an indepth knowledge of the city, Guy still found it difficult to choose the right area and going through the property buying process personally made him realise just how complex it must be for property buyers abroad trying to select the right place, especially those on a 3 day property inspection trip.
The uncanny ability of Irish investors to find property hotspots well before the rest of us is well noted. Guy covers Polish property, touching on his travels to Warsaw and explains the affinity that the Irish have with Poland and what makes it such an attractive property proposition.
Emerging markets where Irish buyers are investing include Morocco, a destination that the Irish have embraced, as they seek markets which they can enter early and can getting in and out at the start. High on the radar of many Irish investors are the Baltic states of Latvia, Lithuania and Estonia and also Slovakia and Slovenia. Property in Cape Verde is another favourite market as the Irish have established strong contacts with local and Irish developers who have established themselves out there.
Guy offers further evidence of Irish buying patterns revealing some stats from Google about where the Irish have been searching for (as provided by overseaslist). The top 7 searched for locations include:
France, Portugal, Spain, Poland, UK, Bulgaria and Germany
Guy gives his advice about buying off the beaten track in places like Northern Portugal and Northern France and suggests that not always following the crowd can reap rewards.
Finally as Borat fever takes hold and Kazakhstan is officially on the map, Guy reveals that it has been mentioned to him by some Irish businessmen who are genuinely considering investing out there - Yakshemash !!
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Length: 00:35:35
Nubricks is going on a property hotspot tour so we are taking a break from the podcasts until December now, but will be back with some great interviews lined up so please keep checking back.
