Revealed: The most desirable counties to purchase a country home
Published 11/05/2016 | 09:18
Wicklow and Cork are the most desirable counties for those on the hunt for a country home, according to a new report published today.
The findings, gathered by Savills Ireland, found that those looking for a country home within the €1m range still want the benefits of being a short distance from Cork and Dublin City and more country properties were sold in counties Wicklow and Cork than any other.
Head of Savills country home sector Harriet Grant revealed that buyers seeking properties in Cork and Wicklow are often on the hunt for grander homes with lake and seaside views, horse-riding facilities and even staff quarters.
“Buyers at the top end of the price spectrum highlight location as a top priority,” said Grant.
“However, this group tends to be on the lookout for much grander homes with secondary accommodation and staff quarters, overlooking water, with 100 or more acres of mature parklands and, in many cases, adjoining equestrian facilities.”
The report also revealed that although the majority of country home buyers were domestic, the largest single biggest deals in each of the last three years have been from UK and US buyers.
Wealthy individuals from the United Arab Emirates are also beginning to express an interest in Irish country homes worth in excess of €1m.
Meanwhile the majority (85pc) of country home purchases within the €1m bracket were cash transactions and did not involve mortgages.
“Typically, country homes buyers are not reliant on mortgage finance. In reality, a trophy estate will only ever be attainable to a small minority, not only because of the higher price point, but also due to running costs. Therefore, it is little surprise that almost 85 per cent of Savills country homes sales over the last three years have been cash transactions.”