Investing is an important aspect of stabilizing your financial future. It is critical to understand your opportunities, and to decide what is the best way to use your income. I want to explain the availability of prudent investing in Ireland.
For those looking to expanding their portfolio, going overseas is a very interesting way to go about it. Residential property investing is lucrative, and there are endless possibilities. New technology has offered people the ability to search for investment properties in Ireland from any country they may reside in. It is easy to just go online and reach out to venders from your computer or smartphone. Ireland is an especially hot country for this type of investing.
A study done rates Dublin as one of the top 3 European cities according to the strength of their real estate market, while factoring in overall investment potential and development prospects. Dublin takes this spot right behind Berlin and Lisbon, and this is understandable based on the recent tech growth in Europe.
Irish properties offer great rental yields, especially small apartments located in Dublin. One-bedroom apartments often offer the best return on investment, so it is best to invest in small units. When you buy property in Dublin for 200,000 Euros, it can be rented for 1,300 Euros. This would earn a gross yield of around 9 percent, which is very attractive to investors. There are also other neighborhoods around Dublin that offer 8 percent yields, so it is good to do your homework.
Furthermore, a benefit of investing in Ireland is the growth of property prices. A report shows that the average cost of Irish property is around 250,000 Euros. Prices in Ireland will continue to rise due to the economy resetting, so this makes investment that much more enticing. Almost all other European countries have had growth in property prices over the last few years as well.
Lastly, low interest rates are also an aspect to consider. If low interest rates are consistent then banks can reduce existing fixed-term interest rates on mortgages. An important note is that the president of the European Central Bank can decide to enter into a period of more relaxed monetary policy. If this happens, there can be a significant drop in borrowing costs.
These are some of the few advantages of investing in Ireland. While investing in property is a great avenue to take, it is best to diversify your portfolio in allowance of flexibility. This is the optimal way to craft the economic future that is best for you.