After being in a prolonged slump for years since the 2008 global economic collapse, the Irish economy as well as the property market has shown signs of improvement. Last year, we saw the average house prices in Ireland rise by 16.3%, which is actually phenomenal, given the context of a housing slump in the rest of Europe.
The rise in the prices of Irish property for sale has been the highest in Dublin, at 18%, and slightly lower, at 13.9% in the rest of the country. The number of property transactions in the country saw a great improvement too, increasing by 40% - with 40,000 properties sold in all.
The good news for you, if you’re looking to sell property in Ireland is that the rise in residential property prices is expected to continue into 2015.
If you’ve an Irish property for sale, you’ve every reason to be optimistic. More so because there is a great demand for Irish property from foreign buyers, especially rich multimillionaires from China and Russia, attracted by the fact that Ireland is one of the best performing economies in Europe and has recovered from the global economic slowdown faster than any other country in the European Union.
So there are plenty of rich foreigners – Chinese, Russians, Arabs – who wish to take advantage of the excellent living conditions in Ireland and buy a second home here. This represents an excellent opportunity for you if you’re looking to sell property in Ireland. Let’s discuss how you can take advantage of this and get the best price possible for your Irish property for sale.
# Real Estate Agent Tips
Hiring the right real estate agent is critical when you’re looking to sell property in Ireland. No property in Ireland gets sold without the active involvement of real estate agents. That’s why it’s important to make your that you hire the very best. Don’t limit yourself to your local agent, chances are you will sell faster if you market outside Ireland.
You can hire the best real estate agent by doing your online research. You will have friends in Ireland who have sold property in the recent past, ask them to recommend the right real estate agent for you. On visiting the real estate agent’s office, pay close attention to how the office premises have been maintained as this would give you an excellent idea of how professional the agent is.
It’s always better to hire older and more experienced real estate agents who have sold a lot of property to overseas buyers in their time and have excellent international contacts as well. The fee charged by them is also quite important. Normally, Irish real estate agents charge a commission of 5% on every sale.
Once you decide to form a relationship with a real estate agent, stay in constant touch with him. Offer him a fact sheet with a detailed list of the best points about your property. Agree on the price the property should fetch, offer a bonus on any increase in the selling price beyond that.
# Preparing Your Irish Property for Sale
Here are some of the things you should do when you’re looking to sell property in Ireland. Get rid of the clutter, clean up the house, hire a gardener to repot the garden. Hire plumbers to repair the bathroom fittings. While you’re at it, hire painters as well, to apply a coat of paint, just to refresh the house. Of course, all of this should be well within your budget.
# Interacting with Potential Buyers
You should be polite with prospective buyers and make yourself available to them at any point of time. This is because Many home buyers who have come all the way from, say, Russia or China, are likely to have tight schedules. Explain why you’re looking to sell the property.
Talk to them about the nearby hospitals, schools, markets. Also talk about any security features you have in place such as window locks, spy holes etc. Don’t come across as desperate or too eager to sell. And yes, keep the kids and pets away when people are visiting to view the property.
# Hire a Solicitor
Once a buyer has been found, hire a decent solicitor to help out with the documents, take part in the property negotiations and ensure that the property transaction goes smoothly, as per plan.
We have helped clients sell many properties over the years. Contact us today to sell a property in Ireland.