BUYING LAND/PROPERTY IN SOUTHERN IRELAND

[poorcardealer]

Has anybody borrowed money to buy land or property in Ireland? I normally do my financial stuff through HSBC but the "global bank" dont do business there.

Many Thanks.

[Rich25]

Matt, YHM

[Eric Mc]

I wish people would stop calling it "Southern Ireland". It will not impress the natives if you go over there and insist on referring to the country in that way. It's called The Republic of Ireland or Eire.

As I've pointed out before, there are parts of so called "Southern Ireland" that are more northerly than the northernmost part of Northern Ireland.

Ireland has a well developed set of banks and building societies some of which have branches in the UK, noteably the Allied Irish Bank (AIB) and Bank of Ireland. The Northern Irish banks (Ulster Bank and Northern Bank) also both ooperate in the Irish Republic and the UK.

[TheExcession]

Out of interest, where abouts are you loking to buy land?

Bit of advice if you are going to do this, do it quickly!

Prices are rocketing at the moment, 65,000 Euro is common for a 1/2 acre plot with OPP. Utterly ludicrous.

best
Ex

[M3_chaz]

Is land really increasing that much? I have land in Donegal which I have owned for slightly over 8 years now. I moved over to Scotland shortly after purchasing said land and must admit lost sight of how much land is currently worth.

[London Irish]

If you bought land in Donegal eight years ago get on to your agent over there for a valuation. As a rule of thumb convert the punt purchase price to euro (multiply by 1.27) and as a guesstimate you should have at least a 4x or 5x return on that amount. Of course this all depend on the zoning and you could be looking at a massive return. Places like Letterkenny are now looking at 7 figure sums being paid for development sites in the town itself.