Strong UK interest in Ireland's riviera
Published 14/05/2010 | 05:00
With West Cork house prices down by more than 40pc, agents are rolling out the red carpet for some British buyers who are shopping around for houses which are close to coastal centres such as Alihies, Baltimore, Schull, Union Hall and Glandore.
At a time when local people are having difficulty raising a mortgage, British buyers are creating a demand for three-bedroom, older style, houses on an acre or two of land. Sterling's strength against the euro has also added to the price attractions of those properties which are priced between €250,000 to €400,000. Consequently prices for such properties have fallen by about 40pc compared to falls of up to 50pc for other homes in the area.
Some are planning to retire to the area known as Ireland's Riviera while others are looking for a holiday home.