The global collapse of the real estate market over a decade ago hit Ireland hard. But several years since then, the positive outlook towards the country changed as the economy started to grow steadily. As a result, many cities, especially the capital, have been on the watch list as the hottest locations to invest in real estate across Europe.
Touted as one of the countries with the most promising growth within the last four years, Ireland is indeed attracting attention not only from investors but most importantly from people who want to take advantage of the opportunities that abound in terms of career options and the promise of a better life.
With that in mind, in this article, we will focus on the reasons why Dublin and its surrounding areas are excellent choices for those looking to buy a new home or property.
A better quality of life
In the 2018 Quality of Living report by Mercer, Dublin ranked as the top city across Ireland and the UK for the second year in a row. The reasons cited include political landscape, relatively low air pollution, and the stable sociocultural environment. It is not surprising that new house developments in and around Dublin are attracting settlers from around the country.
For instance, real estate investors are now focusing on building homes in adjacent areas like Meath, where residents can conveniently commute to the capital city in as little as 40 minutes. The advantage of living close to the capital is that you can take advantage of the opportunities, but at the same time avoid the intense hustle and bustle of living in Dublin.
Europe’s technological hub
Perhaps one of the most significant contributing factors to the economic growth of Ireland is the investment in the technology sector. Currently, 16 top tech firms operate here – Amazon, Facebook, Microsoft, and Google are some of these companies. And for businesses, it helps that the country imposes the lowest corporate tax rate, which, according to the Prime Minister, is not likely going to change.
Indeed, tech firms are coming into the city and expanding their operation. This growth is responsible for attracting employees looking to get better jobs at some of the best companies around the world.
Steady support from the government
With incoming investments creating jobs for Irish citizens, it is only natural for residential real estate to be in high demand. This is exactly the kind of boost needed by the housing sector – which is still recovering from the impact of the housing collapse of 2008. Fortunately, the government is helping boost new builds through the Help to Buy scheme.
This initiative aims to stimulate investment in the real estate industry while also making it easier for first-time buyers to ease into home-ownership. Since this government initiative started, approximately 55% of all claims are from cities like Meath and Kildare. This means that there are plenty of housing options for all income levels.
Right now, Ireland is experiencing steady economic growth, making it one of the most attractive and motivated countries around Europe. The commercial and residential housing market around the country, especially adjacent to the capital city, offers excellent opportunities not only for investors but also for residents who are looking for better living standards. Not only that now is also the best time to take advantage of the government’s initiative to help residents achieve their goal of buying a home.