Oct 24, 2012

UK Buyers looking for Bargain Houses in Ireland

British residents and Irish migrants moving back home are taking advantage of lower house prices in Ireland. The weakness of the euro against Sterling has made prices for Sterling buyers even better.

House prices  in Ireland seem to have hit the bottom in 2012  after falling  by 50 per cent or more from the market's peak in 2007. Prices have begun to rise - with 3 months of consecutive price rises according to the CSO .

By selling a terraced home in the UK  -  the proceeds would buy a detached bungalow in good condition with half an acre of land and views, typically for about €150,000 (£122,000).

The house price crash means that people who have thought about moving to Ireland for a long time  can now afford to move.

UK buyers can get the best deals in counties like Roscommon and Leitrim   where the majority of properties in this area are for sale below their build cost, such as four-bedroom bungalows of around 2,000 sqft in excellent condition and on an half acre of land, which are selling for around €150,000. At the peak of the market in 2007 these would have sold for approximately €300,000.

Many are buting a second home for holidays and  others are moving over lock stock and barrell.
For some peopla owning an Irish cottage is much more fun than having the slowly diminishing savings it has replaced.

The move to Ireland is popular with  people looking for a self-sufficient lifestyle and older couples retiring or wanting to be nearer children and grandchildren. You also get people who were born in Ireland, but have lived in the UK most of their life, returning home.

Oct 7, 2012

Euro Exchange Rate Forecast

The European Central Bank (ECB) left interest rates unchanged at 0.75% at its October meeting. With much
attention focused on the ECB’s new sovereign bond buying scheme launched last month – Outright Monetary Transactions (OMTs) – ECB President Mario Draghi was at pains to stress the importance of the conditionally element. The ECB will activate the programme only after governments commit to strict fiscal consolidation and structural reform plans. Crucially, it will halt the programme if fiscal plans are subject to review and exit the programme if governments fail to fulfil their fiscal promises. As hoped, the OMT had a quiet but good start. Though it remains clientless, its mere announcement helped to reduce sovereign borrowing costs for the likes of Spain and Italy as markets acknowledge the potential of the scheme. But
overall economic conditions in the monetary block remain poor. Recent survey data indicate that the labour market and business conditions will remain challenging given the continued slowdown in economic activity as both domestic and global demand remain weak. Worryingly, with the Eurozone almost certainly in recession, more austerity is on its way.

Dublin in top 10 Best Cities for Start Ups

 Fortune magazine in the US  has named Dublin as one of the seven best cities in the world for start-ups.
The top 6 was mad up of  Copenhagen, Oulu (in Finland)), Eindhoven (Netherlands), Stockholm, Zurich and Singapore.
Fortune said it looked for cities that share the San Francisco Bay Area's "potent combination of creativity and capitalism".It started with data from the Global Innovation Index andlooked for places that were "especially hospitable to companies seeking the mix of talent, curiosity, and risk taking that leads to game-changing new products and services".
Dublin is cheaper than London, boasts low corporate tax rates, and everybody speaks English, Fortune said.
Its "Silicon Docks" neighborhood houses tech giants Google, Facebook, LinkedIn, and Zynga. Last year Twitter announced that it was opening its third international office  in Dublin, making the city its European headquarters.
Fortune also noted that the annual Dublin Web Summit is one of the fastest-growing tech conferences in Europe.